Business
The Westaim Corporation continues to explore alternatives to enhance the growth and value of HIIG
The Westaim Corporation continues to explore alternatives to enhance the growth and value ...
About this update from Westaim Corporation
[{"type":"text","content":"\n\n\n\nThe Westaim Corporation continues to explore alternatives to enhance the growth and value of HIIG\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, April 16, 2018\n\n\n\nTORONTO, April 16, 2018 /CNW/ - The Westaim Corporation (\"Westaim\" or the \"Company\") (TSXV: \"WED\") announces that, in view of the ongoing insurance industry consolidation activity and the receipt by Westaim and Houston International Insurance Group, Ltd. (\"HIIG\") of several unsolicited enquiries, Westaim and HIIG may consider opportunities to enhance the growth and value of HIIG.\n\nJ. Cameron MacDonald, President and Chief Executive Officer of Westaim, stated: \"Westaim's mandate is to align our capital with experienced management teams in order to build great businesses. Under Stephen Way's leadership for the past four years, HIIG has significantly improved its financial position, acquired and established new business lines, prepared the organization for larger scale and assembled a highly skilled and experienced management team. As a result, HIIG is currently in an excellent position to accelerate the growth of its business, particularly in an improving industry environment\".\n\nWestaim and HIIG do not intend to set a definitive schedule for the consideration of alternatives or any related process. Westaim does not intend to periodically or otherwise disclose developments with respect to this review unless the Company's Board determines that disclosure is necessary or appropriate.\n\nAbout Westaim\n\nWestaim is a Canadian investment company specializing in providing long-term capital to businesses operating primarily within the global financial services industry. The Company 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. Westaim's strategy is to pursue investment opportunities with a focus towards the financial services industry and grow shareholder value over the long-term. Westaim's investments in...