Canada's Westaim net loss narrows in Q4 as asset management unit turns positive

Overview

• Canada integrated insurance and asset manager's Q4 net loss narrowed YoY

• Asset Management segment posted positive adjusted EBITDA in Q4 2025

• Insurance segment continued building MYGA annuity issuance and expanded agent network

Outlook

• Company expects agent onboarding and policy applications to continue to grow in 2026

• Westaim says annuity policy issuance is pacing close to previous guidance

• Company plans continued growth of Arena’s business in 2026 and beyond

Result Drivers

• ASSET MANAGEMENT FEES - Asset Management segment generated $15.9 mln in fee revenues and performance allocations, contributing to positive adjusted EBITDA

• ANNUITY PRODUCT - Insurance segment continued growing MYGA annuity issuance, resulting in premium generation and agent network expansion

• PLATFORM BUILD-OUT COSTS - Insurance segment's adjusted EBITDA loss included $0.7 mln in platform build-out expenses

Company press release: ID:nBw1y6cB4a

Key Details

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