The Westaim Corporation (V:WED*CA)

Business Focus: Property & Casualty Insurance

Sector:  Financials Industry:  Property & Casualty Insurance
 
See Regulatory Filings on SEDAR
Company Contact
Address: 1500, 850 - 2 Street SW
CALGARY AB T2P 0R8
Tel: N/A
Website: www.westaim.com
IR: See website
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Key People
Ian W. Delaney
Executive Chairman of the Company
J. Cameron MacDonald
President, Chief Executive Officer, Director
Glenn G. MacNeil
Chief Financial Officer
Robert T. Kittel
Chief Operating Officer
   
Business Overview
Westaim Corporation is an investment company. The Company is engaged in providing long-term capital to businesses operating primarily within the global financial services industry. The Company 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. The Company's investments include interests in Skyward Specialty and the Arena Group. Skyward has businesses in specialty lines including management and professional liability, medical stop loss, surety, E&S property and liability, and commercial property, programs, as well as multi-line solutions for the energy, trucking and construction industries. Its Arena Group includes Arena Investors, Arena Finance and Arena Origination.
Financial Overview
For the fiscal year ended 31 December 2020, WestaimCorp revenues increased from $9.2M to $24.9M. Net losstotaled $34.4M vs. income of $8.5M. Revenues reflectDividend Income - Investment increase from $4.7M to $22.7M.Net loss reflects FV Adjustments of Financial Investmentincrease from $10M (income) to $51M (expense), Siterestoration expense increase of 96% to $681K (expense),Professional fees increase of 21% to $1.2M (expense).
Employees: 7 as of Dec 31, 2020
Reporting Currency: U.S. Dollars
Enterprise value: $442.16M as of Dec 31, 2020
Annual revenue (TTM): $31.15M as of Dec 31, 2020
EBITDA (TTM): $20.47M as of Dec 31, 2020
Net annual income (TTM): -$43.11M as of Dec 31, 2020
Free cash flow (TTM): $23.19M as of Dec 31, 2020
Net Debt Last Fiscal Year: $38.91M as of Dec 31, 2020
Shares outstanding: 143,186,718 as of Dec 31, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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