Wawanesa Insurance Today

Wawanesa Insurance is a widely known Canadian insurance company with its corporate offices in Winnipeg, Manitoba. It is one of the leading insurers in Canada, which employs 1,800 individuals in Canada and United States. It also has 1,300 independent brokers throughout Canada, except Quebec where insurance products are distributed through company agents. The biggest part of Wawanesa Insurance's stuff (80%) works in regional brunches, which means the branches indeed are the pulse of the company. In 2005 the Company's investment portfolio exceeded $3 billion and retained earnings reached over $1.5 billion.

In 2005, A.M. Best Co. (the world's most authoritative and oldest insurance rating and information source) ranked Wawanesa Insurance as #1 among property and casualty insurance companies in Canada in terms of surplus and capital.

Wawanesa Insurance is the sole rightful owner of two subsidiary companies: Wawanesa Life Insurance Company (Canada) and Wawanesa General Insurance Company - the United States branch, with its head office in San Diego, California.

Today Wawanesa offers a wide range of quality insurance products: business insurance, car insurance, home insurance, personal insurance, tenant insurance, farm insurance and additional personal insurance.

The History of Wawanesa

The Wawanesa Mutual Insurance Company was founded on September 25, 1896 in the province of Manitoba by Alonzo Fowler Kempton. His initiative was supported by a group of local farmers, which made first $20 investments each. The company was established as a farmer's mutual insurance carrier.

The beginning was very humble. The staff consisted of only to persons: the founder, Alonzo Kempton, who also was the secretary-manager, and Charles Kerr - accountant. The company rented a small room on the upper floor of the local drugstore. The first insurance policies were issued without a premium payment. The reason was simple: farmers hadn't enough money to pay until harvest. The only required paper was an assessment note. The first year profit was very low - $6. For the next couple of years costs remained high and the company experienced losses. However, the growth trend of the policyholders' number was steady.

Several years later Wawanesa diversified its coverage. Now it issued policies for farm buildings, churches and schools. By the end of the century, the company issued policies for more then $1 million worth property. In 1901, Wawanesa moved to a new office near the beautiful Souris River valley. Soon, the company's staff increased to five persons. By 1907, Wawanesa insured $20 million value property. In 1910 the company became the largest fire insurance company throughout Canada. During the World War I Wawanesa managed to retain a steady growth trend.

Throughout the 1940's and 1950's Wawanesa was known as an innovative insurance company, which responded the needs of its customers. For instance, young British Columbians, who completed either a Canadian Automobile Association approved driver-training course, or a high-school driving program, were offered reduced premiums. This was a smart move. The wawanesa's auto coverage was so substantial that it became very popular across the whole British Columbia.

In the early 1960's Wawanesa started its activity in the field of life insurance - the Wawanesa Mutual Life Insurance Company was established. The new business required recruitment of new qualified staff and as a result, the executive office moved to Winnipeg, however the head office was steel based in Wawanesa village. In 1961, Wawanesa Life issued its first policy and over the next few years the new company showed its steady growth.

In the middle of 1970's Wawanesa successfully entered the United States market and opened its office in San Diego, California. In the first month it wrote more then a hundred of policies. San Diego proved itself as the best choice. Its population increased fivefold over the next 20 years and Wawanesa's business grew jointly with the region.