Everest Group, Ltd., a global specialty reinsurance and insurance leader, announced the completion of the previously announced sale of its Canadian Retail Insurance operations, Everest Insurance Company of Canada (“Everest Canada”), to The Wawanesa Mutual Insurance Company (“Wawanesa”) following receipt of required regulatory approvals and satisfaction of customary closing conditions.
The transaction marks another milestone in Everest’s strategic repositioning and advances the Company’s focus on its core Reinsurance and Global Wholesale and Specialty businesses. Everest announced the definitive agreement on March 23, 2026, as part of its previously announced plan to exit its Commercial Retail Insurance operations.
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“The completion of this transaction further sharpens Everest’s portfolio and positions the Company to concentrate its capital and capabilities on its core Reinsurance and Global Wholesale and Specialty Insurance businesses,” said Jim Williamson, Everest President and CEO. “We thank our Canadian colleagues for their contributions and wish them continued success with Wawanesa.”
Advisors to the transaction include Ardea Partners LP as exclusive financial advisor and Debevoise & Plimpton LLP and Stikeman Elliott LLP as legal advisors to Everest. TD Securities acted as exclusive financial advisor and Torys LLP acted as legal advisor to Wawanesa.
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