Westaim Contributes US$350 Million to Fund Ceres Life Insurance Company

May 12, 2025

The Westaim Corporation made a US$350 million capital contribution to Salem Group Partners LP to fund the operations and launch of Ceres Life Insurance Company, a cloud-native annuity platform led by Deanna Mulligan. The proceeds are intended to support Ceres Life as it prepares to begin underwriting and servicing annuity policyholders.

Buyers
The Westaim Corporation, Salem Group Partners LP
Targets
Ceres Life Insurance Company
Industry
Insurance
Location
Texas, United States
Transaction Type
Growth capital

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