Investor Presentaiton
The Westaim Corporation
▲WESTAIM
The Westaim Corporation
Westaim is a publicly listed (TSXV:WED) investment holding company specializing in providing long-term capital to businesses operating primarily within the global financial services industry. Our focus
has been, and continues to be, to seek high quality investment opportunities that allow us to partner with businesses and aligned management teams that are well positioned to compound wealth and
provide above average returns over the long-term for our shareholders.
Skyward Specialty Insurance Group
Specialty Property and Casualty Insurance
44% look-through ownership(1)
Arena Investors
Arena FINCOS
Skyward Specialty is a US based specialty property and
casualty insurance company with approximately $1 billion
in annual gross written premium and over $2 billion in
assets. Skyward Specialty writes on both an admitted and
non-admitted basis with a focus on defined business lines
in high profit niche segments to deliver top quartile
consistent returns. Rated A- by AM Best.
Skyward Specialty's highly experienced team of 395 are
represented across 12 offices providing coverage in all 50
states and select international markets.
Alternative Investment Manager
51% ownership(2)
Arena Investors is a New York based global institutional
money manager that originates and underwrites portfolios
of asset-backed credit investments that are highly
diversified and uncorrelated, delivering consistent returns
for investors with a duration of approximately two years.
Arena Investors' committed AUM of $3.4 billion includes
Westaim's proprietary capital of $176 million plus third
party institutional and high net worth clients.
A highly skilled and experienced team of 100+ full-time
employees and consultants across the globe are enabled
by robust processes, proprietary infrastructure and access
to a global origination network. Arena Investors' regularly
has been recognized for its performance, investment
approach and operational controls.
Westaim's Proprietary Capital Invested with Arena
Investors
100% ownership
The Arena FINCOs are specialty finance companies that primarily
purchase diversified asset-backed credit and other investments
and in certain circumstances, facilitate the origination and creation
of credit investments for their own account and for third parties.
Arena FINCOS' capital has been and remains very strategic in the
development of Arena Investors and the Arena FINCOS have
participated as lead investor in several new product offerings.
(1)
(2)
The Company's look-through interest in the HIIG Partnership of 22.0% (December 31, 2020 – 21.3%), combined with its direct ownership of the Skyward Specialty preferred shares, which were convertible into Skyward Specialty common shares representing 22.0% (December 31,
2020 23.2%) of the fully diluted Skyward Specialty common shares outstanding, resulted in a 44.0% (December 31, 2020 - 44.5%) look-through interest in Skyward Specialty at December 31, 2021. At December 31, 2021, based on the Company's control of the HIIG Partnership,
and its ownership of convertible preferred shares, the Company held a 57.5% voting interest in Skyward Specialty (December 31, 2020 - 57.5%).
The remaining 49.0% is Bernard Partners, LLC's initial profit sharing percentage, and under the Associate Agreements, Bernard Partners, LLC has the right to earn-in up to 75% equity ownership percentage in the associates and to thereby share up to 75% of the profit of the
associates based on achieving certain AUM and cash flow thresholds.
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