Wawanesa Insurance Garners Top Ranking in Financial Stability

October 4, 2005

The Wawanesa Mutual Insurance Company (Wawanesa), one of Canada’s largest property and casualty insurers, has been ranked first among property and casualty (P/C) insurance companies in Canada in terms of capital and surplus by A.M. Best Co.

According to the Best report, Wawanesa’s A+ (Superior) rating is based on its superior level of capitalization, strong operating performance and leading market position in the Canadian P/C sector. The rating also reflects Wawanesa’s well-diversified book of business, sound risk management and experienced management team.

In response to the rating of A+ (Superior) by Best, Gregg Hanson, president and CEO of Wawanesa, noted, “We are particularly proud of Best’s recognition of how our long-term relationships with brokers and our responsive customer service have played a key role in our success and stability. Since our start in 1896, when a group of Manitoba farmers came up with the idea of starting an insurance company owned by policyholders, we have maintained our focus on meeting the needs of our policyholders. This rating by the leading independent agency for the global insurance industry reflects the commitment and efforts of our staff and the more than 1,300 independent insurance brokers who distribute our products.”

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