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Wawaunesa Review

Wawaunesa Ratings and Company Information

Company Rating:
Best Insurance Reports: 85802
Best Rating: A+

Type of Insurance Company: Mutual Property and Casualty

Name of Parent Company:
Wawanesa Mutual Insurance Company

Insurance subsidiaries:
Wawanesa General Insurance Company
Wawanesa Life Insurance Company
Wawanesa Mutual Insurance Company USB

Company Overview:
Company History: Wawanesa Mutual Insurance Company is a large property/casualty insurer founded in 1896. It offers personal and commercial property/casualty insurance lines, through the parent company and its subsidiaries, throughout Canada as well as in California and Oregon. Life insurance products are offered through its subsidiary, Wawanesa Life.

Principle Sales Methods: Wawanesa sells its products through about 1,300 brokers in 8 Canadian Provinces and the Yukon territory. Sales are through company agents in Quebec. All new business in the U.S. is written on a direct basis at preferred rates.

Life Annuity Business: Wawanesa sells individual annuities and life insurance (universal life and term life) as well as group life and health plans.

Auto Business: Wawanesa's property and casualty business is concentrated (over 90%) in personal insurance lines including private passenger automobile coverages.

Homeowners Business: Wawanesa sells personal coverages for homeowners, tenants and condominium owners as well as commercial property coverages for business owners.

Health Business: Wawanesa sells individual and group health insurance plans including Preferred Provider Organization (PPO) plans and Health Maintenance Organization (HMO) plans and various limited and full-service plans.

Company Financial Status:
Assets & Premiums: Direct premiums written by Wawanesa Mutual Insurance Company in 2005 were $1.48 billion. Writings were concentrated in personal lines (primarily private passenger automobile and homeowner's/condominium/tenant coverages) Commercial property coverages acounted for 9.6% of premiums written in 2005. Over 50% of direct premium writings in 2005 came from Alberta and Ontario and about 5.5% came from outside Canada. The company has a significant presence in all Canadian provinces except Newfoundland. Total statutory admitted assets were $3.76 billion at the end of 2005.

Lines of Insurance:
Auto, Health, Life, Disability, Homeowners

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