On March 23, 2026, Everest Group, Ltd. announced that it had signed a definitive agreement to sell its Canadian retail insurance operations, Everest Insurance Company of Canada, to The Wawanesa Mutual Insurance Company. Wawanesa has entered into a Purchase and Sale Agreement with a wholly owned subsidiary of Everest, under which Wawanesa will acquire all of the issued and outstanding shares of Everest Canada. Upon the closing of the transaction, Everest Canada will enter into a Loss Portfolio Transfer Reinsurance Agreement with Everest Reinsurance Company, a Delaware reinsurance company and subsidiary of Everest operating through its Canadian branch, under which exposure to all liabilities of Everest Canada with respect to insurance policies issued by Everest Canada prior to closing will be retained by Everest, with Everest Canada continuing to administer claims on those policies on behalf of Everest. Everest Canada and Everest will also enter into a Transition Services Agreement under which an Everest affiliate will provide certain transition services to Everest Canada for a period of time following closing. Everest Canada brings an extensive portfolio of specialty commercial insurance products, including cyber, accident and health, aviation, marine, professional liability, and property and casualty for larger businesses with unique, emerging or complex needs, and is expected to add approximately C$305 million in annual commercial lines premiums to Wawanesa — an increase of roughly 30 percent over Wawanesa's current commercial lines volume. The transaction is part of Everest's strategic repositioning to exit its commercial retail insurance operations, following the 2025 sale of its global retail commercial insurance renewal rights to AIG, and is expected to close in the second half of 2026 (anticipated fourth quarter 2026), subject to regulatory approvals (including approval of the Minister of Finance and clearance under the Competition Act (Canada)) and customary closing conditions.