Wawanesa Mutual Insurance Co. has had its A+ (Superior) financial stability rating affirmed by A.M. Best Co., a global insurance rating and information source.

According to the A.M. Best report, Wawanesa’s A+ (Superior) rating for 2006 is based on its superior level of capitalization, strong balance sheet, above average liquidity, profitable operating performance, and leading market position in the Canadian property and casualty insurance sector. The rating also reflects Wawanesa’s well-diversified book of business, broad geographic distribution, sound risk management and experienced management team.

In response to the seventh consecutive year of being rated A+ (Superior) by Best, Gregg Hanson, President and CEO of Wawanesa commented, “As we celebrate our 110th anniversary, we are again very proud of A.M. Best’s affirmation of our company’s financial stability and the strength of our management team. Since our inception in 1896, our focus on our policyholders, our brokers and our employees has been the cornerstone to our success, and A.M. Best’s rating reflects this commitment.”

Founded in 1896 and owned by policyholders, Wawanesa is one of the largest property and casualty insurers in Canada.