Key Highlights

• On 13 August 2026, Westaim reported a second-quarter net loss of about $81.5 million, or about $2.45 per diluted share, compared with a small loss of about $0.2 million a year earlier.
• The bulk of the loss came from the insurance segment: Ceres Life recorded an adjusted Earnings loss of about $65.0 million and a net insurance service loss of about $56.8 million, while carrying invested Assets of about $445 million.
• Much of the roughly $81.5 million net loss stems from Ceres Life, a start-up insurer in a rapid growth phase — and new life insurers typically incur notable upfront losses as they write business, because the costs of acquiring and reserving for policies…