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Wawanesa Mutual Insurance Co. has struck a deal with Desjardins Group to buyits Western Canadian insurance businesses for roughly $775-million, the latesttie-up in a consolidating industry. The Winnipeg-based mutual insurance company said Thursday that its subsidiaryTrimont Financial Ltd. would acquire High River, Alta.-based Western FinancialGroup Inc. and Western Life Assurance. It’s the biggest deal in Wawanesa’s 121-year history, and chief executiveofficer Jeff Goy said the transaction highlights the company’s goal to expandits network of independent insurance brokers in Canada. The move would bolsterWawanesa’s sales force when the industry is also grappling with changingtechnology and consumer demands. “We made this investment as an investment in distribution of insurancethrough brokers, to preserve that channel,” Mr. Goy said.

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