Everest to sell Canadian retail insurance operations to Wawanesa for CAD 410M

EVEREST GROUP, LTD.

Purchase price CAD 410M, subject to adjustment, for Everest Insurance Company of Canada.
Closing expected H2 2026; subject to antitrust and insurance regulatory approvals.
Sale follows 2025 sale of global retail commercial renewal rights to AIG; sharpens focus on reinsurance and wholesale/specialty.
Loss portfolio transfer reinsurance agreement with Everest Reinsurance Company (Canadian Branch) for pre-closing liabilities.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

EVEREST GROUP, LTD. entered into Purchase and Sale Agreement with The Wawanesa Mutual Insurance Company valued at CAD 410 million (effective 2026-03-22).

Action: entry
Agreement: asset purchase
Counterparty: The Wawanesa Mutual Insurance Company
Value: CAD 410 million
Effective: 2026-03-22

Exact text from the filing

On March 22, 2026, Everest Underwriting Group (Ireland) Limited (“ EUGIL ”), an Irish company and direct subsidiary of Everest Group, Ltd. (the “Company”), entered into a Purchase and Sale Agreement (the “Purchase Agreement”) with The Wawanesa Mutual Insurance Company, a mutual insurance company existing under the Insurance Companies Act (Canada) (“Buyer”), pursuant to which EUGIL agreed to sell to Buyer, or a Canadian affiliate thereof, all of the outstanding shares of capital of the Everest Insurance Company of Canada, a Canadian insurance company and a wholly owned subsidiary of EUGIL (“Everest Canada”), representing the Company’s Canadian Retail Insurance operations for CAD 410 million, subject to adjustment.

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EVEREST GROUP, LTD. filing history →

Source: SEC EDGAR

accession 0001095073-26-000014

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