Wawanesa step closer to Ontario firm acquisition

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The Wawanesa Mutual Insurance Company has gotten regulatory approval to acquire Ontario-based Everest Insurance Company of Canada.

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The Wawanesa Mutual Insurance Company has gotten regulatory approval to acquire Ontario-based Everest Insurance Company of Canada.

The deal, first announced in March, is expected to close by the end of 2026. Once complete, Everest Canada will operate as a “distinct entity” within Wawanesa’s group of companies, a news release says.

Everest’s portfolio includes cyber and aviation insurance, among other special commercial insurance products. It will add roughly $305 million in Wawanesa’s annual commercial lines premiums, the Manitoba-based company previously told the Free Press. Details of the transaction weren’t disclosed.

— Free Press staff

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