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Slide #21. The Westaim Corporation — Significant Interest in Houston International Insurance Group, Ltd.
The Westaim Corporation (CVE:WED.CA)
Significant Interest in Houston International Insurance Group, Ltd.
The Westaim Corporation (Westaim or the Company) (TSX VENTURE:WED) announced today that Westaim HIIG Limited Partnership (the Partnership), an Ontario limited partnership established by Westaim for this purpose, has agreed to acquire a significant interest in Houston International Insurance Group, Ltd. (HIIG), an international specialty insurance company headquartered in Houston with offices in Atlanta, Birmingham, Chicago and New York. HIIG is led by its Chairman and Chief Executive Officer, Stephen L. Way, an accomplished insurance industry executive who previously founded and led HCC Insurance Holdings, Inc. to become a multi-billion dollar global specialty insurer achieving significant shareholder returns.
Westaim is a financial holding company which is focused on the property and casualty insurance industry. Co. invests, directly and indirectly, through acquisitions, joint ventures and other arrangements, with the objective of providing its shareholders with capital appreciation and real wealth preservation. Co. owns 100% of JEVCO Insurance Company (Jevco), a property and casualty insurance company authorized to carry on property, surety, automobile and liability insurance.
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