The Western Investment Company of Canada (WI) Q2 2026 earnings summary

Executive summary

• Gross written premiums increased by 4% year-over-year, reflecting growth in insurance operations.

• Net income for the quarter was $509,000, or $0.003 per share, compared to $752,000, or $0.005 per share, in the prior year.

• Insurance revenue rose to $10.3 million from $8.5 million year-over-year, driven by multi-year coverage products.

• Additional $1.0 million gain recognized on the sale of GlassMasters, bringing total gain to $15.4 million.

Financial highlights

• Combined ratio improved to 80.4% for the quarter, mainly due to a strong loss ratio.

• Cash and investments grew by 2% to $87.3 million; shareholders' equity increased by 1% to $78.6 million.

• Income from equity-accounted investments decreased to $0.3 million from $0.8 million due to the sale of GlassMasters.

• Fortress Insurance reported a net investment loss of $0.1 million, down from net investment income of $0.1 million year-over-year.

Outlook and guidance

• Management is focused on identifying and investing in high-quality, entrepreneurial insurance businesses.

• Actively progressing a robust pipeline of potential acquisition and partnership opportunities.