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High River, Alberta–(Newsfile Corp. – August 4, 2022) – The Western Investment Company of Canada Limited (TSXV: WI) (“WICC” or “Western”) is pleased to provide shareholders with the following update on a number of key developments regarding Fortress Insurance Company (“Fortress”).
-Gross Written Premiums for the first half of 2022 increased 213% to $7.2 million from $2.3 million in 2021. Fortress’ stated target was to grow premiums to $12 million by year end 2022. Based on the first half of the year, they are on track to meet or exceed that goal.
-Fortress has agreed to a strategic partnership with a U.S. based specialty insurance company (“US Insureco”), whose identity will remain confidential until closing of the deal. The partnership includes a minimum equity investment of $1.7 million in…
