Everest Group, Ltd. entered into a Purchase and Sale Agreement on March 22, 2026, to sell all shares of its subsidiary Everest Insurance Company of Canada, representing its Canadian Retail Insurance operations, to The Wawanesa Mutual Insurance Company for CAD 410 million subject to adjustment. This advances the company's plan to exit Commercial Retail Insurance operations and focus on core Reinsurance and Global Wholesale and Specialty Insurance businesses.
Key takeaways
EUGIL signed Purchase Agreement on March 22, 2026, to sell Everest Insurance Company of Canada shares for CAD 410 million subject to adjustment
Buyer is The Wawanesa Mutual Insurance Company or Canadian affiliate
Closing subject to antitrust approval from Commissioner of Competition and insurance approval from Minister of Finance (Canada)
Ancillary agreements include loss portfolio transfer reinsurance with ERC and transition services
Transaction expected to close in second half of 2026
Part of strategic repositioning following 2025 sale to AIG