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The Western Investment Company of Canada
Western is an insurance and investments holding company focused on decentralized ownership of insurance businesses and centralized investment management.
The Western Investment Company of Canada
Western is an insurance and investments holding company focused on decentralized ownership of insurance businesses and centralized investment management. Its shares are traded on the Exchange under the symbol WI. The firm is committed to creating long-term wealth for shareholders by investing in, mentoring and growing successful businesses.
General information
Firm type
Generalist
Year founded
2015
Location
Region
North America
Country
Canada
City
High River
Corporate office
1010 - 24th Street S.E., High River, Alberta, Canada
Principals
Scott Tannas
Chairman
Paul Rivett
Chief Executive Officer
Shafeen Mawani
Chief Operating Officer
Sector focus
Frequently asked questions
What is the relationship between The Western Investment Company and Fairfax Financial?
The firm does not have an ownership relationship with Fairfax Financial, but the connection is significant at the personnel level. In December 2024, WICC appointed Paul Rivett as CEO, who previously served as President of Fairfax Financial. Rivett's firm, Tevir Capital Corp., became a strategic partner in WICC's transformation into an insurance holding company, importing the operational philosophy of a premier Canadian insurance compounder into the public-company structure.
Who controls the strategic direction of The Western Investment Company?
Strategic direction is steered jointly by Chairman Scott Tannas and CEO Paul Rivett. Tannas, a Canadian Senator, provides continuity and Alberta-bred relationships, having previously founded Western Financial Group. Rivett, appointed CEO in late 2024, brings the insurance-investment architecture from his tenure running Fairfax Financial and his own vehicle, Tevir Capital, which serves as a strategic investor in the firm.
What is WICC's core investment focus today?
The firm is concentrating its portfolio around insurance and private real assets. Its primary holding is Fortress Insurance Company, and its real asset book includes senior care facilities in Saskatchewan and industrial distribution facilities for Foothills Creamery in Alberta and British Columbia. The strategy resembles a mini-conglomerate model that favors control positions in cash-flowing private businesses.
How does the firm co-invest alongside external partners?
The firm has a track record of structured co-investments with institutional partners. ATB Financial, a major Alberta-based financial institution, co-invested in Foothills Creamery and GlassMasters, and serves as the firm's primary lender. The partnership with Tevir Capital represents a strategic, rather than purely passive, co-investment relationship that has reshaped the firm's strategic direction.
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