* Q4 EPS C$0.01 vs C$0.05 last year
* Net premium earned drops 70 pct to C$69.2 mln (Adds details, shares)
March 2 (Reuters) - Canada’s Westaim Corp reported lower fourth-quarter profit, hurt by a slump in premiums earned.
Westaim is a financial holding company focused on the property and casualty insurance industry.
Direct premiums written fell about 74 percent to C$72.1 million and net premiums earned in the fourth quarter dropped nearly 70 percent to C$69.2 million, the company said in a statement.
For the October-December quarter, net income was C$3.7 million, or 1 Canadian cent per share, compared with C$4.7 million, or 5 Canadian cents, last year.
Shares of the Toronto-based company closed at C$0.60 on Wednesday on the Toronto Stock Exchange. (Reporting by Amruta Sabnis in Bangalore; Editing by Prem Udayabhanu)