Wawanesa completes acquisition of Everest Canada operations

Wawanesa Mutual Insurance Co. has completed its acquisition of the Canadian retail insurance operations of Bermuda-based Everest Group Ltd. Following the deal, Wawanesa has rebranded the acquired entity as WSI.

WSI will operate as a distinct organization within the Wawanesa group of companies, maintaining its own management team and expertise while utilizing Wawanesa’s balance sheet to support growth. The acquisition, which was first announced in March, is expected to add approximately $305 million in annual premiums to Wawanesa’s portfolio.

Headquartered in Toronto with additional offices in Montreal, WSI provides specialty insurance solutions in sectors including cyber, aviation, marine, energy, construction, and professional liability. The approximately 100 employees from the former Everest Canada have retained their positions.