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Wawanesa receives regulatory approval to acquire Everest Insurance Company of Canada

Written by Customer Service on . Posted in Mergers And Acquisitions.

WINNIPEG, Manitoba, Sept. 08, 2026 (GLOBE NEWSWIRE) — The Wawanesa Mutual Insurance Company (“Wawanesa”) announced today it has received all required regulatory approvals to complete its acquisition of Everest Insurance Company of Canada (“Everest Canada”) from Everest Group, Ltd. (“Everest”).

Initially announced in March, the deal accelerates Wawanesa’s diversification and growth strategies by adding an extensive portfolio of specialty commercial insurance products along with strong talent and deep expertise. Together, these attributes will expand Wawanesa’s commercial capabilities, significantly elevating the mutual insurer’s competitive edge.

“This is a major milestone in our journey to serve more Canadian organizations across an even broader range of industries, complex risks, and unique needs,” said Evan Johnston, President & CEO of Wawanesa. “We look forward to welcoming the Everest Canada team and combining our strengths to further enhance our commercial insurance business. This is just the beginning, and we’re excited about what lies ahead.”

The transaction is expected to close in Q4 2026, subject to customary closing conditions. Wawanesa will work closely with Everest to ensure a seamless transition for clients, distribution partners, and employees. Following closing, Everest Canada will operate as a distinct entity within the Wawanesa group of companies, preserving the proven business model and trusted relationships that have earned the confidence of Canadian organizations.

About The Wawanesa Mutual Insurance Company
Founded in 1896, The Wawanesa Mutual Insurance Company is one of Canada’s largest mutual insurers, 100% owned by its members, with more than $4.1 billion in annual revenue and $12.5 billion in assets. Headquartered in Winnipeg, Wawanesa is the parent company of Wawanesa Life, which provides life insurance solutions throughout Canada, and Western Financial Group, a leading national distributor of personal and business insurance. In March of 2026, Wawanesa entered into an agreement to acquire Everest Insurance Company of Canada to strengthen its commercial insurance capabilities and advance its long-term growth strategy.

Wawanesa proudly serves more than 1.8 million members across Canada. The company actively gives back to organizations that strengthen communities, donating more than $4 million annually to charitable organizations, including $2.5 million each year in support of people on the front lines of climate change. Learn more at wawanesa.com.

For more information:
Michel Rosset
Manager, Corporate Communications & Media Relations
The Wawanesa Mutual Insurance Company
media@wawanesa.com

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