ICMIF member Wawanesa (Canada) has published its first integrated report, bringing together its financial and sustainability performance in a single publication to demonstrate how the mutual insurer is creating long-term value for its members and communities.
The Report to our Members 2025 reflects Wawanesa’s recognition of the close links between financial performance, sustainability and the growing impacts of climate change. By combining these elements into one report, the organisation aims to provide a transparent view of how it operates while reinforcing its commitment to building a resilient business capable of serving members for generations to come.
The report also outlines the actions Wawanesa is taking to protect, strengthen and enable communities so they can face the challenges of a changing world with confidence. Its development was informed by the Office of the Superintendent of Financial Institutions’ (OSFI) Guideline B-15: Climate Risk Management, alongside other relevant principles, standards, frameworks and regulations.
Among the sustainability achievements highlighted in the report is a 23% reduction in Scope 1 and 2 (location-based) greenhouse gas emissions from Wawanesa’s operations compared to baseline levels. The organisation also obtained limited third-party assurance of its 2025 emissions figures for the first time.
The report also highlights a strong year of financial performance. Wawanesa reported record results in 2024, with consolidated premiums reaching CAD 4.1 billion and consolidated net income of CAD 556 million. During the year, the mutual insurer paid approximately CAD 1.9 billion in claims to its 1.8 million members.
“The Report to our Members 2025 demonstrates how we’re aligning performance with purpose, and accountability with ambition,” said Evan Johnston (pictured), Wawanesa’s President & CEO. “By integrating financial results with sustainability considerations, we enhance our ability to create enduring value as a mutual insurer.”
Wawanesa first shared the Report to our Members 2025 at its Annual General Meeting on 28 May in Wawanesa, Manitoba, the community where the organisation was founded more than 129 years ago. The AGM also marked the appointment of two new members to Wawanesa’s Board of Directors: Danielle Harrison and Hugh Moncrieff.
