The Western Investment Company of Canada Ltd ( (TSE:WI) ) has issued an announcement.
Western Investment Company reported a significant increase in net income for 2024, primarily due to the acquisition of Fortress Insurance, which has been consolidated into its financial statements. The acquisition marks a strategic shift for Western towards a stronger focus on insurance and investment management. Fortress Insurance demonstrated substantial growth in gross written premiums and investment income, despite a decrease in net income due to increased professional fees and a higher loss ratio from catastrophic events. GlassMasters Autoglass and Foothills Creamery also showed positive performance, with revenue growth and improved margins, respectively.
More about The Western Investment Company of Canada Ltd
The Western Investment Company of Canada Ltd operates in the insurance and investment management industry. The company focuses on acquiring and managing insurance businesses, with a recent strategic pivot towards becoming an insurance and investment management holding company.
YTD Price Performance: -13.85%
Average Trading Volume: 32,753
Technical Sentiment Signal: Sell
Current Market Cap: C$83.03M
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