A.M. Best gives Wawanesa Mutual top marks

Wawanesa Mutual Insurance Company, one of Canada’s largest property and casualty insurers, has been ranked first among property and casualty insurance companies in Canada in terms of capital and surplus, according to ratings A.M. Best Co.
A.M. Best says it gave Wawanesa an ‘A+ (Superior)’ rating based on the insurer’s superior level of capitalization, strong operating performance and leading market position in the Canadian property and casualty sector. The rating agency also praises Wawanesa’s diversified book of business, sound risk management and experienced management team.
Gregg Hanson, president and CEO of Wawanesa, says of the rating: “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.”
Wawanesa Mutual wrote $1.24 billion in net premiums in 2004 and its total business accounted for 3.9% of the Canadian market share, ranking it ninth out of 125 private Canadian insurance companies (excluding life and purely A&S companies).