Business
CC Capital and Westaim Complete Transaction, Creating Integrated Insurance and Asset Management Platform
Westaim Appoints Chinh Chu as Executive Chair; Adds Deanna Mulligan, Douglas Newton, Matthew Skur...
About this update from Westaim Corporation
[{"type":"text","content":"CC Capital and Westaim Complete Transaction, Creating Integrated Insurance and Asset Management Platform\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n \n\n\n\n\n Westaim Appoints Chinh Chu as Executive Chair; Adds Deanna Mulligan, Douglas Newton, Matthew Skurbe, Menes Chee and Richard DiBlasi as Board Members\n \n\n\n\n Cloud-Native, Scalable Annuities Provider Ceres Life Insurance Company Launches\n \n\n\n\n Westaim Provides Income Tax Information for U.S. Shareholders\n \n\n\n\n\n CC Capital, a private investment firm focused on investing in and operating high-quality businesses for the long term, and The Westaim Corporation (“\n \n Westaim\n \n ”) (TSXV: WED) today announced the completion of their previously announced transaction that transforms Westaim into an integrated insurance and asset management platform.\n \n\n This press release features multimedia. View the full release here:\n \n https://www.businesswire.com/news/home/20250403992020/en/\n \n\n\n The transaction, which is fueled by a US$250 million investment in Westaim by CC Capital, brings together Westaim, Arena Investors, LP (“\n \n Arena\n \n ”), a growing and diversified global institutional asset manager, and Ceres Life Insurance Company (“\n \n Ceres Life\n \n ”), an advantaged, cloud-native and scalable annuity platform led by industry veteran Deanna Mulligan. As part of a unified platform, these businesses are expected to generate a powerful value creation flywheel, driving continued growth and stability for both the insurance and asset management businesses.\n \n\n “We are pleased to establish such a compelling platform, bringing together technology enabled insurance and proven asset management capabilities that are both highly complementary and capable of driving significant growth across both businesses,” said Chinh Chu, Founder and Senior Managing Director of CC Capital and Executive Chair of the Westaim Board of Directors (the “\n \n Westaim Board\n \n ”). “We believe that there are significant opportunities to expand this platform, and we look forward to partnering with Cam, Dan, Deanna and the Westaim team to realize the potential of this partnership and maximize the benefits for investors and policyholders alike.”\n \n\n “The completi...