Western Reports Third Quarter Financial Results

About this update from Western Investment Company Of Canada Limited

[{"type":"text","content":"Western Reports Third Quarter Financial Results TORONTO, ON / ACCESS Newswire / November 25, 2025 / The Western Investment Company of Canada Limited (TSXV:WI) (\"Western\" or the \"Company\") today reported its financial and operating results for the three and nine months ended September 30, 2025. The interim financial statements and management's discussion and analysis have been filed on SEDAR+. Unless otherwise indicated, financial figures are expressed in Canadian dollars and comparisons are to the prior period ended September 30, 2024.In the third quarter of 2025, Fortress Insurance (\"Fortress\") sustained growth in Gross Written Premiums (\"GWP\") 1 and Western's equity-accounted investments continued to generate meaningful top-line expansion.Net income in the third quarter of 2025 increased to $0.6 million compared with net income of $0.5 million in the prior-year comparative period. Western's expenses now include consolidated expenses from Fortress Insurance and a comparison to previous periods is not currently meaningful.\"Fortress delivered another quarter of capital-efficient growth through prudent underwriting and continuing expansion of its specialty programs. We are also encouraged with the strong performance of our equity-accounted investments as they execute on a wide range of growth initiatives, \" said Paul Rivett, Western's Chief Executive Officer.Western financial highlights Three Months Ended Sep. 30, $'000 2025 2024 Change Total insurance service result 2 277 N/a N/a Net Investment income 2 297 N/a N/a Income (loss) from equity investments 893 1,008 (115)Finance income 466 211 255 Net income 602 521 81 1 GWP is a Non-GAAP measure defined as all premiums written during the year, including both earned and unearned auto insurance premiums, and fronting fees earned2 Fortress Insurance results are consolidated into Western from fourth-quarter 2024Fortress InsuranceIn the third quarter, Fortress grew GWP to $16.8 million from $15.1 million in the third quarter of 2024. Total investment portfolio, including cash and cash equivalents, ended the quarter at $29.7 million compared to $23.5 million as of December 31, 2024. Insurance revenue increased 26% year-over-year but total insurance service result decreased by 38% due to increased claims and the long-term policies written under Fortress' specialty programs, which...

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