The Westaim Corporation (V:WED*CA)

Business Focus: Property & Casualty Insurance

Apr 08, 2021 01:36 pm ET
Westaim Announces AGM, Investor Day and Release Date for Q1 2021 Results
The Westaim Corporation (“Westaim” or the “Company”) (TSXV: WED) announces that the Company will hold its Annual General and Special Meeting (“AGM”) and Investor Day on Wednesday, May 26, 2021. The AGM will begin at 9:00 am ET. The Investor Day will be held following the AGM, beginning at 10:00 am ET through 12:00 pm ET. Both events will be held virtually with live video presentation. As in past years, the Investor Day schedule will include a business overview and discussion with management from Westaim, Arena Investors and Skyward Specialty, followed by a question and answer session. Details
Mar 25, 2021 05:16 pm ET
The Westaim Corporation Reports 2020 Fourth Quarter Results
The Westaim Corporation (“Westaim” or the “Company”) (TSXV: WED) today announced its audited financial results for the quarter ended December 31, 2020. Westaim recorded a net loss of $14.5 million ($0.10 loss per diluted share) and a net loss of $34.5 million ($0.24 loss per diluted share) for the quarter and year ended December 31, 2020, respectively, compared to a net loss of $13.0 million ($0.09 loss per diluted share) and a net profit of $8.6 million ($0.06 earnings per diluted share) in the quarter and year ended December 31, 2019, respectively.
Feb 18, 2021 04:19 pm ET
Razor Energy Corp. Announces Multi-Year Amendment of Its Existing Non-revolving Term Loan Facility; and Announces Enhanced Liquidity From New Term Loan and Royalty Transaction
Razor Energy Corp. ("Razor" or the "Company") (TSXV: RZE) is pleased to announce that it has secured an extension to its existing non-revolving term loan facility from Alberta Investment Management Corporation (“AIMCo”), on behalf of certain of...
Feb 10, 2021 12:30 pm ET
Arena Investors and Diamond Creek Capital Announce a $100M Joint Venture
NEW YORK, Feb. 10, 2021 /PRNewswire/ -- Arena Investors, LP ("Arena"), a $2.2 billion institutional asset manager, and Diamond Creek Capital, a specialty lending firm focused on the lower middle-market, today announced that they have established a joint venture with initial capacity to deploy up to $100 million of new loans to privately held companies.
Jan 27, 2021 04:42 pm ET
Westaim Provides Update on Arena Investors and Announces Release Date for Q4 and Full Year 2020 Results
The Westaim Corporation (“Westaim” or the “Company”) (TSXV: WED) today announces that the invested and committed assets under management (“AUM”) of Arena Investors, LP (“Arena Investors”), an entity over which Westaim has a significant interest, has grown to $2.2 billion as of January 1, 2021. AUM is a key component to drive operating leverage for Arena Investors.
Jan 20, 2021 09:56 am ET
Westaim Announces the Acquisition by Skyward Specialty Insurance Group of Aegis Surety and Sale of XPro Business, Both With K2 Insurance Services
The Westaim Corporation (“Westaim”) (TSXV: WED) today announced Skyward Specialty Insurance Group, Inc. (“Skyward Specialty”), a leader in the specialty Property and Casualty market and a subsidiary of Westaim, acquired Aegis Surety and the simultaneous sale of XPro (solutions for the Pest Control industry). K2 Insurance Services is both the seller of Aegis Surety and the buyer of XPro.
Dec 01, 2020 08:00 am ET
Arena Investors Closes Special Opportunities Partners Fund I at $519M
NEW YORK, Dec. 1, 2020 /PRNewswire/ -- Arena Investors, LP ("Arena"), an institutional asset manager, today announced the final close of Arena Special Opportunities Partners I, LP and Arena Special Opportunities Partners (Cayman) I, LP with total committed capital of $519 million. The close exceeds the $300 million target that was set for the fund, which was launched in March.
Nov 17, 2020 10:04 am ET
HIIG Changes Name to Skyward Specialty Insurance Group Inc.
The Westaim Corporation (“Westaim”) (TSXV: WED) today announces that Houston International Insurance Group (“HIIG”), a company in which it holds a significant interest, and a leader in the specialty Property and Casualty market, has changed its name to Skyward Specialty Insurance Group Inc. (“Skyward Specialty” or the “Company”). The launch of the new Skyward Specialty brand is only part of many strategic actions implemented by new CEO Andrew Robinson to position the Company’s readiness to stand out among its competitors and to capitalize on the changing market conditions.
Nov 12, 2020 04:10 pm ET
 The Westaim Corporation Reports 2020 Third Quarter Results
The Westaim Corporation (“Westaim” or the “Company”) (TSXV: WED) today announced its financial results for the third quarter ended September 30, 2020. Westaim recorded a net profit of $0.6 million (nil earnings per diluted share) and a net loss of $20.0 million ($0.14 loss per diluted share) for the three and nine months ended September 30, 2020, respectively, compared to a net profit of $3.7 million ($0.03 earnings per diluted share) and a net profit of $21.6 million ($0.15 earnings per diluted share) in the three and nine months ended September 30, 2019, respectively. Book value per share wa
Oct 28, 2020 08:00 am ET
Arena Investors and Blue Skye Form Italy-Focused Joint Venture
NEW YORK, Oct. 28, 2020 /PRNewswire/ -- Arena Investors, LP ("Arena") and Blue Skye Investment Group ("Blue Skye") have signed a joint venture agreement to invest in Italian mid-market corporate restructuring and turnaround opportunities.
Oct 22, 2020 09:25 am ET
Arena Wins Special Situations Manager of the Year at Alt Credit Fund Intelligence US Performance Awards 2020
The Westaim Corporation (“Westaim” or the “Company”) (TSXV: WED) is pleased to announce that Arena Special Opportunities Fund, an investment fund managed by Arena Investors, was awarded the Special Situations Manager of the Year at Alt Credit Fund Intelligence US Performance Awards 2020 held on October 21, 2020.
Sep 29, 2020 04:22 pm ET
Arena Finance II, LLC Completes $45 Million Note Offering
The Westaim Corporation (“Westaim” or the “Company”) (TSXV: WED) today announced that Arena Finance II, LLC, a limited liability company controlled by Westaim and part of the Arena FINCOs, (“AF II, LLC”), has completed a private placement of $45 million of 6.75% senior secured notes due September 30, 2025 (the “Notes”) to certain qualified institutional buyers and institutional accredited investors (the “Private Placement”). The obligations of AF II, LLC under the Notes are guaranteed by Arena Finance, LLC (“AF, LLC”) and are secured by Collateral that includes the assets of AF II, LLC.
Sep 25, 2020 11:32 am ET
Arena Wins Private Debt Strategy of the Year Award at Pension Bridge Institutional Asset Management Awards
The Westaim Corporation (“Westaim” or the “Company”) (TSXV: WED) is pleased to announce that Arena Special Opportunities Fund, an investment fund managed by Arena, was awarded the Private Debt Strategy of the Year Award at the Pension Bridge Institutional Asset Management Awards held on September 24, 2020.
Sep 09, 2020 05:17 pm ET
THE WESTAIM CORPORATION ANNOUNCES DETAILS FOR ITS ANNUAL INVESTOR DAY
The Westaim Corporation (“Westaim” or the “Company”) (TSXV: WED) is pleased to announce that it will host its Annual Investor Day on Tuesday September 22, 2020 at 9:00am (Eastern Time) virtually with a live video presentation. The agenda will include a business overview and discussion with management from Westaim, Arena, and HIIG followed by a question and answer session.
Aug 13, 2020 05:33 pm ET
The Westaim Corporation Reports 2020 Second Quarter Results
The Westaim Corporation (“Westaim” or the “Company”) (TSXV: WED) today announced its financial results for the second quarter ended June 30, 2020. This press release should be read in conjunction with the Company’s unaudited interim financial statements, accompanying notes and Management Discussion and Analysis (“MD&A”) for the three and six months ended June 30, 2020 and with our annual Consolidated Financial Statements and MD&A for the year ended December 31, 2019, which can be found on SEDAR at
May 25, 2020 09:01 am ET
HIIG Appoints Andrew Robinson as New Chief Executive Officer
The Westaim Corporation (“Westaim”) (TSXV: WED) and Houston International Insurance Group, Ltd. (“HIIG” or the “Company”) announced today that the HIIG Board of Directors has appointed Andrew Robinson as Chief Executive Officer (“CEO”) of HIIG effective immediately. Mr. Robinson takes over from HIIG’s founder and outgoing CEO, Stephen L. Way, who has resigned as Chairman of the Board but will continue to serve as a Director of the Company.
May 13, 2020 04:12 pm ET
The Westaim Corporation Reports 2020 First Quarter Results
The Westaim Corporation (“Westaim” or the “Company”) (TSXV: WED) today announced its financial results for the first quarter ended March 31, 2020. This press release should be read in conjunction with the Company’s unaudited interim financial statements, accompanying notes and Management Discussion and Analysis (“MD&A”) for the three months ended March 31, 2020 and with our annual Consolidated Financial Statements and MD&A for the year ended December 31, 2019, which can be found on SEDAR at
Apr 22, 2020 08:29 am ET
The Westaim Corporation Completes Additional Investment in HIIG
Further to its press release of March 19, 2020, The Westaim Corporation (“Westaim” or the “Company”) (TSXV: WED) is pleased to announce that it has completed the purchase of $44,003,574 of shares of Series A Convertible Preferred Stock (the “Preferred Shares”) of Houston International Insurance Group, Ltd. (“HIIG”). The Preferred Shares purchased by Westaim formed part of a larger offering of Preferred Shares by HIIG by way of a rights offering (the “Rights Offering”) pursuant to which existing direct and indirect holders of shares of HIIG’s common stock were entitled to subscribe, on a pro ra
Apr 21, 2020 09:17 am ET
Westaim Announces Details Concerning its 2020 Shareholders’ Meeting
The Westaim Corporation (“Westaim” or the “Company”) (TSXV: WED) announces today that, in response to the public health risks from COVID-19, it will hold its annual and special meeting of shareholders on May 19, 2020 at 9:00 a.m. (Eastern Time) (the “Meeting” or “Shareholders’ Meeting”) in a virtual only format, which will be conducted via live audiocast. Shareholders of the Company will not be able to attend the Meeting in person.
Mar 26, 2020 05:35 pm ET
The Westaim Corporation Reports 2019 Fourth Quarter Results
The Westaim Corporation (“Westaim” or the “Company”) (TSXV: WED) today announced that it recorded a net loss of $13.0 million or $(0.09) per share on a diluted basis for the three months ended December 31, 2019, compared to a net profit of $6.7 million or $0.04 per share on a diluted basis for the three months ended December 31, 2018. For the year ended December 31, 2019, Westaim recorded a net profit of $8.6 million or $0.06 per share on a diluted basis compared to a net profit of $16.9 million or $0.11 per share on a diluted basis for the year ended December 31, 2018. The change in the deriv
Mar 19, 2020 05:16 pm ET
The Westaim Corporation Provides Update on HIIG
Further to its press releases of November 13, 2019 and January 13, 2020, The Westaim Corporation (“Westaim” or the “Company”) (TSXV:WED) is pleased to provide an update on various developments relating to Houston International Insurance Group, Ltd. (“HIIG”).
Mar 10, 2020 10:00 am ET
Arena Wins Best Distressed Credit / Special Situations Award at Alt Credit Fund Intelligence US Awards 2020
The Westaim Corporation (“Westaim” or the “Company”) (TSXV: WED) is pleased to announce that Arena Special Opportunities Fund, an investment fund managed by Arena, was awarded the Best Distressed Credit / Special Situations Award at Alt Credit Fund Intelligence US Awards 2020, held in New York on February 12, 2020.
Jan 13, 2020 04:00 pm ET
The Westaim Corporation Provides Update
The Westaim Corporation (“Westaim” or the “Company”) (TSXV: WED) refers to its press release of November 13, 2019 relating to HIIG intending to raise up to US$30 million through a rights offering of common shares (the “Rights Offering”) and that the HIIG Partnership intended to subscribe for a minimum of US$15 million of HIIG shares under the Rights Offering. The Rights Offering is now expected to close in the first quarter of 2020.
Nov 13, 2019 04:00 pm ET
The Westaim Corporation Reports 2019 Third Quarter Results
The Westaim Corporation (“Westaim” or the “Company”) (TSXV: WED) today announced that it recorded a net profit of $3.7 million or $0.03 per share for the three months ended September 30, 2019, compared to a net profit of $4.4 million or $0.03 per share for the three months ended September 30, 2018. For the nine months ended September 30, 2019, Westaim recorded a net profit of $21.6 million or $0.15 per share compared to a net profit of $10.2 million or $0.07 per share for the nine months ended September 30, 2018.
Aug 07, 2019 04:00 pm ET
The Westaim Corporation Reports 2019 Second Quarter Results
The Westaim Corporation (“Westaim” or the “Company”) (TSXV: WED) today announced that it recorded a net profit of $7.8 million or $0.05 per share for the three months ended June 30, 2019, compared to a net loss of $0.1 million or $nil per share for the three months ended June 30, 2018. For the six months ended June 30, 2019, Westaim recorded a net profit of $17.9 million or $0.12 per share compared to a net profit of $5.8 million or $0.04 per share for the six months ended June 30, 2018.
May 08, 2019 04:33 pm ET
The Westaim Corporation Reports 2019 First Quarter Results
The Westaim Corporation (“Westaim” or the “Company”) (TSXV: WED) today announced that it recorded a net profit of $10.1 million or $0.07 per share on a diluted basis for the three months ended March 31, 2019, compared to a net profit of $5.9 million or $0.04 per share on a diluted basis for the three months ended March 31, 2018.
Apr 16, 2019 02:47 pm ET
The Westaim Corporation Announces Annual General Meeting and Investor Day
The Westaim Corporation ("Westaim" or the "Company") (TSXV: "WED") announces that it will be holding its Annual General Meeting on May 30, 2019 at 9:00 a.m. (Eastern time) at The Hockey Hall of Fame, Brookfield Place, 30 Yonge Street, Toronto, Ontario in the Tim Hortons Theatre (lower level entrance).
Mar 27, 2019 05:11 pm ET
The Westaim Corporation Reports 2018 Fourth Quarter Results
The Westaim Corporation (“Westaim” or the “Company”) (TSXV: WED) today announced that it recorded a net profit of $6.7 million or $0.04 per share on a diluted basis for the three months ended December 31, 2018, compared to a net profit of $6.8 million or $0.05 per share on a diluted basis for the three months ended December 31, 2017. For the year ended December 31, 2018, Westaim recorded a net profit of $16.9 million or $0.11 per share on a diluted basis compared to a net profit of $5.5 million or $0.04 per share on a diluted basis for the year
Feb 14, 2019 05:01 pm ET
Arena Investors Wins Alt Credit “Direct Lending Fund” Award
The Westaim Corporation (“Westaim” or the "“Company”) (TSXV: WED) is pleased to announce that Arena Investors, LP (“Arena Investors”) was recognized as the winner in the “Direct Lending Fund” category at the 2019 Alt Credit US Performance Awards (the “Awards”) held in New York, USA on February 12, 2019. The Awards recognized and rewarded hedge funds, funds of hedge funds and alternative credit firms that have outperformed their peers over the past 12 months, and the judging panel was comprised of representatives from
Nov 08, 2018 03:12 pm ET
The Westaim Corporation Reports 2018 Third Quarter Results
Note: All dollar amounts in this press release are expressed in U.S. dollars, except as otherwise noted. The financial results are reported under International Financial Reporting Standards, except as otherwise noted.
Oct 22, 2018 08:00 pm ET
Arena Group Wins HFM 'Newcomer Credit" Award
TORONTO, Oct. 22, 2018 /CNW/ - The Westaim Corporation ("Westaim" or the "Company") (TSXV: WED) is pleased to announce that Arena Special Opportunities Fund ("ASOF LP"), an investment fund managed by Arena Group, was awarded the "Newcomer Credit" Fund of the Year Award for 2018 at the annual HFM US Hedge Fund Performance Awards, held in New York, USA on October 18, 2018. The award recognized the fund's twelve month performance through June 30, 2018.
Aug 09, 2018 04:19 pm ET
The Westaim Corporation Reports 2018 Second Quarter Results
Note: All dollar amounts in this press release are expressed in U.S. dollars, except as otherwise noted.The financial results are reported under International Financial Reporting Standards, except as otherwise noted.
May 09, 2018 04:25 pm ET
The Westaim Corporation Reports 2018 First Quarter Results
Note: All dollar amounts in this press release are expressed in U.S. dollars, except as otherwise noted.The financial results are reported under International Financial Reporting Standards, except as otherwise noted.
Apr 16, 2018 04:11 pm ET
The Westaim Corporation continues to explore alternatives to enhance the growth and value of HIIG
TORONTO, April 16, 2018 /CNW/ - The Westaim Corporation ("Westaim" or the "Company") (TSXV: "WED") announces that, in view of the ongoing insurance industry consolidation activity and the receipt by Westaim and Houston International Insurance Group, Ltd. ("HIIG") of several unsolicited enquiries, Westaim and HIIG may consider opportunities to enhance the growth and value of HIIG.
Mar 29, 2018 05:25 pm ET
The Westaim Corporation Reports 2017 Fourth Quarter Results
Note: All dollar amounts in this press release are expressed in U.S. dollars, except as otherwise noted.The financial results are reported under International Financial Reporting Standards, except as otherwise noted.
Nov 09, 2017 04:27 pm ET
The Westaim Corporation Reports 2017 Third Quarter Results
Note: All dollar amounts in this press release are expressed in U.S. dollars, except as otherwise noted.The financial results are reported under International Financial Reporting Standards, except as otherwise noted.
Oct 24, 2017 06:49 pm ET
The Westaim Corporation Announces Investor Day
/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
Aug 11, 2017 09:00 am ET
Westaim Announces Director Resignation
TORONTO, Aug. 11, 2017 /CNW/ - The Westaim Corporation ("Westaim" or the "Company") (TSXV: WED) announced today that Peter H. Puccetti has resigned from the Company's board of directors.
Aug 10, 2017 05:21 pm ET
The Westaim Corporation Reports 2017 Second Quarter Results
Note: All dollar amounts in this press release are expressed in U.S. dollars, except as otherwise noted.The financial results are reported under International Financial Reporting Standards, except as otherwise noted.
Jun 02, 2017 05:02 pm ET
Westaim and Fairfax Close Strategic Investment Transaction
TORONTO, June 2, 2017 /CNW/ - The Westaim Corporation ("Westaim" or the "Company") (TSXV: WED) is pleased to announce that it has successfully closed its previously announced transaction with Fairfax Financial Holdings Limited (TSX:FFH)(TSX:FFH.U) and certain of its subsidiaries (collectively, "Fairfax"), pursuant to which Fairfax has agreed to invest up to C$100 million in Westaim.
May 11, 2017 05:23 pm ET
The Westaim Corporation Reports 2017 First Quarter Results
(Note: All dollar amounts in this press release are expressed in U.S. dollars, except as otherwise noted.The financial results are reported under International Financial Reporting Standards, except as otherwise noted.)
Apr 03, 2017 07:30 am ET
Fairfax to Make Strategic Investment in Westaim and to Make Significant Portfolio Investment through Arena Investors
TORONTO, April 3, 2017 /CNW/ - The Westaim Corporation ("Westaim" or the "Company") (TSXV: WED) today announced that it has entered into a letter agreement pursuant to which Fairfax Financial Holdings Limited, through certain of its subsidiaries (collectively, "Fairfax"), will make an investment of up to C$100 million in Westaim in exchange for the issuance by Westaim of 5% interest bearing notes (the "Preferred Securities") and common share purchase warrants ("Warrants").
Mar 30, 2017 07:27 pm ET
The Westaim Corporation Reports 2016 Fourth Quarter Results
(Note: All dollar amounts in this press release are expressed in U.S. dollars, except as otherwise noted. The financial results are reported under International Financial Reporting Standards, except as otherwise noted.)
Nov 10, 2016 05:54 pm ET
The Westaim Corporation Reports 2016 Third Quarter Results
(Note: All dollar amounts in this press release are expressed in U.S. dollars, except as otherwise noted. The financial results are reported under International Financial Reporting Standards, except as otherwise noted.)
Sep 15, 2016 01:29 pm ET
The Westaim Corporation Announces Investor Day
/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
Aug 11, 2016 05:29 pm ET
The Westaim Corporation Reports 2016 Second Quarter Results
(Note: All dollar amounts in this press release are expressed in U.S. dollars, except as otherwise noted. The financial results are reported under International Financial Reporting Standards, except as otherwise noted.)
May 11, 2016 06:00 pm ET
The Westaim Corporation Reports 2016 First Quarter Results
(Note: All dollar amounts in this press release are expressed in U.S. dollars, except as otherwise noted.  The financial results are reported under International Financial Reporting Standards, except as otherwise noted.)
Mar 31, 2016 06:17 pm ET
The Westaim Corporation Reports 2015 Fourth Quarter Results
(Note: All dollar amounts in this press release are expressed in U.S. dollars, except as otherwise noted.  The financial results are reported under International Financial Reporting Standards, except as otherwise noted.)
Mar 10, 2016 08:00 am ET
Westaim announces appointment of Managing Director in New York
TORONTO, March 10, 2016 /CNW/ - The Westaim Corporation ("Westaim" or the "Company") (TSXV: "WED") is pleased to announce that Joseph A. Schenk will join the Company as Managing Director effective March 10, 2016. Mr. Schenk will be based in New York, NY.
Mar 02, 2016 07:00 am ET
Westaim Announces Hiring of Pimco's Jon Short as President of Arena Investors, LP
TORONTO, March 2, 2016 /CNW/ - The Westaim Corporation ("Westaim") (TSXV: "WED") is pleased to announce that Jon Short has joined Arena Investors, LP ("Arena") as President effective March 2, 2016.

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