The Westaim Corporation is a junior asset management company in the financial service sector.
It focuses on exploring the investment opportunities to increase the value for its shareholder by facilitating the long-term capital needs of the companies functioning in the international financial ecosystem.
The Westaim Corporation is a publicly listed company on the TSX Venture Exchange (TSXV) since 1996. Its common stocks are traded under the symbol ‘WED’ on TSXV.
The operations of the Toronto-based asset manager consist of acquisitions, partnerships, joint ventures, and other formats of business arrangements with the companies to maximize the wealth of shareholders and increase the total value of the invested capital.
The Westaim Corporation portfolio of investments include the following:
Skyward Specialty Insurance Group
It was formerly known as Houston International Insurance Group Ltd. The Westaim with third-party affiliates from Everest Re Group and AXA XL entered into a partnership, known as HIIG LP, in 2014 to acquire a majority ownership stake in Skyward.
Arena Investors, LP
It was formed and financed by The Westaim in August 2015 with an investment of US$ 146 million.
Other past Investments by the company includes JEVCO insurance Company that was strategically acquired in August 2010 for a transactional amount of approximately $260 million.
However, in about two years, JEVCO was sold to IFC for nearly $530 million.
The investment company is interested in all types of instruments, including equity securities, debt instruments, derivative securities and other such instruments of publicly listed corporations and private sector corporations.
The Westaim Corporation claims to earn a significant part of its revenue from the income via interest and dividends. The financial services firm has investment activities across North America, Europe, the Asia Pacific region, and the rest of the world (ROW).
On June 21, 2021, The Westaim Corporation announced that its partner Arena Investors, enter into a JV agreement with AJW Group to acquire aviation assets for capital consideration of US$100 million.