The Westaim Corporation (WED) Investor Day 2025 summary

Strategic transformation and vision

• Completed a transformative transaction and partnership with CC Capital, pivoting to a U.S.-based integrated insurance and asset management company, with a $250 million investment and redomiciling to Delaware, USA.

• The new structure is designed as a flywheel, combining insurance and asset management to drive book value and ROE, with a highly experienced leadership team from top-tier institutions.

• Ceres Life targets the $15 trillion retirement market, leveraging demographic tailwinds and a scalable, AI-driven technology platform to disrupt legacy insurance operations.

• Arena Investors will manage insurance assets, aiming to reach $10 billion AUM, and capitalize on opportunities in private credit, asset-based finance, and alternative lending.

• The company is preparing for a U.S. stock exchange listing and will soon announce a new name and rebrand.

Ceres Life: business model and growth plans

• Ceres Life is a cloud-native, highly scalable annuity platform targeting the growing retirement market with a focus on MYGA and FIA products.

• Leveraging advanced technology, including AI and automation, to deliver operational efficiencies and cost advantages over legacy carriers.

• Established strong distribution partnerships with Advisors Excel and Innovation Design Group, with plans to expand into additional channels and reinsurance.

• Achieved key operational milestones: product approvals, technology buildout, acquisition, rebranding, and MYGA product launch in June 2025; FIA launch expected in fall 2025.

• Targets significant scaling of annuity sales, with operating expenses expected to remain modest compared to legacy peers.

Arena Investors: platform, performance, and outlook

• Arena Investors manages $4.4 billion in AUM and programmatic capital as of June 2025, with a global presence and extensive JV network.

• Focuses on multi-strategy credit, structured finance, and private investments, leveraging proprietary sourcing and robust risk management.

• Recent fundraising success: closed $1.09 billion Special Opportunities Partners Fund III, exceeding targets and attracting global institutional investors.

• Arena's platform enables scalable insurance asset management, supporting Ceres Life and targeting further AUM growth beyond $10 billion.

• Positioned to capitalize on market dislocations, with a disciplined underwriting process and a track record of 19% gross realized IRR since inception.