The Westaim Corporation (V:WED*CA)
Business Focus: Property & Casualty Insurance (NEC)
| Sector: Financials | Industry: Property & Casualty Insurance |
| Company Contact | |
| Address: | 70 York Street, Suite 1700 TORONTO ON M5J 1S9 |
| Tel: | N/A |
| Website: | https://westaim.com |
| IR: | See website |
| Key People | ||
| Ian W. Delaney Executive Chairman of the Board | J. Cameron Macdonald President, Chief Executive Officer, Director | Glenn G. Macneil Chief Financial Officer | Robert T. Kittel Chief Operating Officer, Corporate Secretary |
| Business Overview |
| The Westaim Corporation is an investment company, which specializes in providing long-term capital to businesses operating within the global financial services industry. It invests, directly and indirectly, through acquisitions, joint ventures and other arrangements, with the objective of providing its shareholders with capital appreciation and real wealth preservation. Its strategy is to pursue investment opportunities with a focus towards the financial services industry and grow shareholder value over the long term. Its investments include significant interests in Skyward Specialty, Arena and Arena FINCOs. Skyward Specialty is a diversified specialty property and casualty insurance holding company that underwrites select property, casualty, surety, and accident and health insurance coverages. The Arena FINCOs includes specialty finance companies that purchase fundamentals-based, asset-oriented credit and other investments. Arena Investors operates as an investment manager. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Westaim Corp revenues decreased 19% to $8.6M. Net income increased from $18M to $184M. Revenues reflect Dividend Income - Investment decrease of 47% to $4.4M, Fee income decrease of 50% to $473K. Net income reflects Unrealized G/L on Investment Securities increase from $26.9M to $91.7M (income), Share of income from investment in Arena increase from $783K to $4.4M (income). |
| Employees: | 7 as of Dec 31, 2022 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $322.42M as of Dec 31, 2023 |
| Annual revenue (TTM): | $11.79M as of Dec 31, 2023 |
| EBITDA (TTM): | -$23.56M as of Dec 31, 2023 |
| Net annual income (TTM): | $251.50M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$4.23M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | N/A |
| Shares outstanding: | 128,638,385 as of Apr 26, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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