Aventus Capital Inc. · TSXV:AVTS
Aventus Capital — The Westaim — Corporate Update (November 2014)
16 slides from Aventus Capital's corporate update, November 2014
Slide 1: The Westaim Corporation Corporate Update
The Westaim Corporation Corporate Update November 2014
Slide 2: Disclaimers: Safe Harbour Statement
Disclaimers Safe Harbour Statement The information contained herein is based on publicly available information, internally developed data and other sources. Where any opinion is expressed in this presentation, it is based on the assumptions and limitations mentioned herein and is an expression of pr
Slide 3: Disclaimers: Non-GAAP Measures
Disclaimers Non-GAAP Measures Non-GAAP Measures – Westaim Westaim uses both international financial reporting standards ((“IFRS”) IFRS ) and non non-GAAP GAAP measures to assess performance. The Corporation cautions readers about non non- GAAP measures that do not have a standardized meaning under I
Slide 4: The Westaim Corporation
The Westaim Corporation 4
Slide 5: Executive Summary
The Westaim Corporation p Executive Summary On July 31, 2014, Westaim HIIG Limited Partnership (the “Partnership”), an Ontario limited partnership established by The Westaim Corporation ((“Westaim” or the “Corporation”), p ), completed p the acquisition q of an approximate pp 70.8% equity q y inte
Slide 6: Overview Market and Financial Statistics
The Westaim Corporation p Overview Market and Financial Statistics * The Westaim Corporation is an investment company listed on the Ticker TSXV:WED Assets TSX Venture Exchange (TSXV: WED) Cash and cash equivalents $ 94.9 Share price (11/14/2014) $ 2.84 Accounts receivable 0.5 Westaim’s investmen
Slide 7: Investments in private entities
The Westaim Corporation p Investments in private entities Westaim determined that it qualifies as an investment entity under IFRS and uses fair value as the key measure to monitor and evaluate its investments – The investment in HIIG, through the Partnership, is accounted for at fair value through
Slide 8: Investment Strategy
The Westaim Corporation p Investment Strategy • Invest I t in i • Partner with businesses with aligned and attractive capable fundamentals management and business teams economics i Opportunistic Partnership Investing Approach Long-term Business Horizon Building • Execute • Provide business plan over
Slide 9: Houston International Insurance Group, Ltd.
Houston International Insurance Group, Ltd. 9
Slide 10: Investment Summary
Houston International Insurance Group, p, Ltd. Investment Summary On July 31, 2014, Westaim HIIG Limited Partnership, an Ontario limited partnership established by The Westaim Corporation, completed the q acquisition of an approximate pp 70.8% equity q y interest in Houston International Insurance
Slide 11: Investment Structure
Houston International Insurance Group, p, Ltd. Investment Structure (1) Other Limited Partners (LPs) ~$65.4 million The Westaim Corporation ~$75.7 million (~37.7%) Affiliate of Everest Re Group, Ltd. $24.3 ~$24 3 million ((~12 12.2%) 2%) 100.0% Affiliate of Catlin Group Limited ~$22 $22.9 9 million
Slide 12: Overview and Lines of Business
Houston International Insurance Group, p, Ltd. Overview Lines of Business – 2013 GWP HIIG was formed in 2010 through a merger between a specialty Construction Energy Specialty Professional Property Non‐continuing lines and other insurance startup (formed in 2007 by Stephen Way) and a 5% specialty
Slide 13: Underwriting
Houston International Insurance Group, p, Ltd. Underwriting Lines of Description Type of Insurance Interim Q3 2014 Interim Q3 2013 Business NPW * NPW * Construction Cranes; Specialty Contractors and General Liability, Auto Liability, $34.4 million $23.2 million Heavy Transport Excess Liability, Prop
Slide 14: Selected Q3 Financial Information
Houston International Insurance Group, p, Ltd. Selected Q3 Financial Information (1) Lines of Business – Q3 2014 vs Q3 2013 (1) For the three months ended For the three months ended Sep 30, 2014 Sep 30, 2013 Sep p 30, 2014 Sep p 30, 2013 (unaudited) (unaudited) Income Statement Segmented Information
Slide 15: Selected Interim Q3 Financial Information
Houston International Insurance Group, p, Ltd. Selected Interim Q3 Financial Information (1) Lines of Business – Interim Q3 2014 vs Q3 2013 (1) For the nine months ended For the nine months ended Sep 30, 2014 Sep 30, 2013 Sep p 30, 2014 Sepp 30, 2013 (unaudited) (unaudited) Income Statement Segmente
Slide 16: Conclusion
Conclusion Summary In early 2014, Westaim announced a transformative transaction – Partnered with third party investors and an experienced management team with a proven track record in the global specialty P&C insurance market to invest $138.7 million in HIIG (the Partnership received total fundin