The Western Investment Company of Canada (WI) Q2 2025 earnings summary

Executive summary

• Report covers unaudited results for the six months ended June 30, 2025, with no auditor review performed.

• Fortress Insurance became a wholly owned subsidiary as of October 1, 2024, and its results are now consolidated.

• The company operates in property and specialty insurance, and holds significant equity interests in several associates.

Financial highlights

• Total assets increased to $112.2M from $103.7M at December 31, 2024.

• Net loss for the six months was $(246,860), compared to $(371,145) for the same period last year.

• Insurance revenue for the period was $16.7M, with insurance service expenses of $13.5M.

• Total comprehensive loss for the period was $(261,356).

• Cash and cash equivalents at period end were $42.6M.

Outlook and guidance

• Subsequent to period end, a new CFO was appointed and 1.67M RSUs were granted, subject to approvals.