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<\/p>\nEverest Group Ltd., the Bermuda-based specialty re\/insurer, announced the completion of the previously announced sale of its Canadian retail Insurance operations, to Wawanesa Mutual Insurance Co.<\/p>\n
In connection with the Everest acquisition, Wawanesa launched a unit called \u201cWSI,\u201d which comprise former Everest Canada operations.<\/p>\n
\u201cThe introduction of WSI marks an important moment in the Canadian specialty market,\u201d said Evan Johnston, President & CEO of Wawanesa. \u201cWe saw a company with remarkable characteristics and an impressive track record. We\u2019re excited to build on that success and help WSI in creating something even greater for organizations across our country and the communities they serve.\u201d<\/p>\n
\u201cOperating as a distinct organization within the Wawanesa group of companies, WSI retains the highly sought-after expertise, outstanding talent, and underwriting discipline that established Everest Canada as a respected player in the specialty market,\u201d Wawanesa said. \u201cNow, with the backing of one of Canada\u2019s largest mutual insurers, WSI is redefining what\u2019s possible in the specialty market, helping organizations navigate complex risks so they can thrive in a changing world.\u201d<\/p>\n
WSI will continue to deliver specialty insurance solutions across cyber, accident and health, aviation, marine, energy, construction, directors and officers liability, professional liability, property, and casualty.<\/p>\n
\u201cThe introduction of WSI marks an important moment in the Canadian specialty market,\u201d said Evan Johnston, president & CEO of Wawanesa in a statement. \u201cWe saw a company with remarkable characteristics and an impressive track record. We\u2019re excited to build on that success and help WSI in creating something even greater for organizations across our country and the communities they serve.\u201d<\/p>\n
Everest said the sale, which was first announced on March 23, 2026,<\/a> furthered its strategy to exit its Commercial Retail Insurance operations and has advanced the company\u2019s aim to focus on its core Reinsurance and Global Wholesale and Specialty businesses.<\/p>\n \u201cThe completion of this transaction further sharpens Everest\u2019s portfolio and positions the company to concentrate its capital and capabilities on its core Reinsurance and Global Wholesale and Specialty Insurance businesses,\u201d said Jim Williamson, Everest president and CEO.<\/p>\n Advisers to the transaction include Ardea Partners LP as exclusive financial adviser and Debevoise & Plimpton LLP and Stikeman Elliott LLP as legal advisers to Everest. TD Securities acted as exclusive financial adviser and Torys LLP acted as legal adviser to Wawanesa.<\/p>\n The Wawanesa Mutual Insurance Co., founded in 1896, is one of Canada\u2019s largest mutual insurers, with over C$4 billion in annual revenue and assets of C$11.5 billion. Headquartered in Winnipeg, Wawanesa is the parent company of Wawanesa Life, which provides life insurance products and services, and Western Financial Group, which distributes personal and business insurance across Canada.<\/p>\n Arthur J. Gallagher & Co. Buys New Zealand\u2019s Albany Insurance Services<\/strong><\/p>\n Arthur J. Gallagher & Co. announced the acquisition of New Zealand-based, retail insurance broker Albany Insurance Services Ltd.<\/p>\n Terms of the transaction were not disclosed.<\/p>\n Albany Insurance serves commercial and personal lines clients in New Zealand\u2019s Auckland and Canterbury regions. The Albany Insurance team, led by Jeremy Bleakley, will operate under the direction of Carl O\u2019Shea, head of Gallagher\u2019s New Zealand retail brokerage operations.<\/p>\n \u201cAlbany Insurance\u2019s market expertise and client-first culture will enhance our brokerage operations in New Zealand,\u201d said J. Patrick Gallagher Jr., chairman and CEO. \u201cI am delighted to welcome Jeremy and his associates to Gallagher.\u201d<\/p>\n Headquartered in Rolling Meadows, Illinois, Arthur J. Gallagher & Co. is a global insurance brokerage, risk management and consulting services firm, operating in approximately 130 countries through its owned operations and a network of correspondent brokers and consultants.<\/p>\n Topics<\/span> Mergers & Acquisitions<\/a> Canada<\/a> A.J. Gallagher<\/a> <\/p>\n<\/p><\/div>\n Was this article valuable?<\/p>\n<\/p><\/div>\n***<\/h3>\n