The Wawanesa Mutual Insurance Company · Winnipeg, MB Canada
Company Description
Phone: +1-204-985-3923
Fax: +1-204-942-7724
Toll Free: 800-640-2920
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This link will open in a new window Coal-oil lamp and wooden threshing machine accidents may not be as common as they were when Wawanesa Mutual Insurance was founded on the Canadian plains in 1896, but the property/casualty insurer still has plenty to keep it busy. The company, one of the largest property/casualty insurers in Canada, offers commercial and personal lines, including business, farm, homeowner, and automobile policies. It also owns a demutualized life insurer, Wawanesa Life. Wawanesa operates throughout Canada as well as in California and Oregon. The company sells its products through some 1,300 independent agents (except in Quebec where company agents handle the distribution). Wawanesa is owned by its policyholders. To read the full description, subscribe now.
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Key The Wawanesa Mutual Insurance Company Financials
| Company Type | Private - Mutual Company Headquarters |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $175.4 |
| Employees | 1,688 |
The Wawanesa Mutual Insurance Company Executives
23 executives listed for The Wawanesa Mutual Insurance Company's Winnipeg, MB location.
| Title | Name & Bio | Contact |
| President and CEO | Ken McCrea | Network |
| VP and COO | M. K. Nemeth | Network |
| VP and CFO | Gary Timlick | Network |
Competition
Competitive Landscape for The Wawanesa Mutual Insurance Company
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top The Wawanesa Mutual Insurance Company Competitors
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