Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 30 n° 328

Posts Tagged ‘regulatory’

Regulatory Changes and Growth Set to Boost Reinsurers’ Share of Asia Risk

Posted by fidest press agency su venerdì, 9 novembre 2018

In this episode of A.M.BestTV, attendees at the annual Singapore International Reinsurance Conference (SIRC) said market growth, combined with regulatory changes that emphasize solvency standards, should raise the amount of insurance premiums collected in Asia that is ultimately ceded to reinsurers. Click on to view the entire program.The hot topic at this year conference in Singapore: how to increase reinsurance growth in Asia, which contributes less than 30% to the world’s insurance premiums and less than 15% to the entire reinsurance industry.“The ones that represent the most potential are the markets that show the biggest economic growth,” said William Ho, head of reinsurance, Asia, MS Amlin. “That is where the potential is and is why so many of us reinsurers and insurers are trying to grow in this region.”Jayne Plunkett, chief executive officer, reinsurance, Asia, Swiss Re, believes that China will be the area that will offer the most growth.“I think we will see most of the growth coming from China,” she said. “Part of that reason is because the regulator in China has a very disciplined and proactive approach about building the marketplace around liability, agriculture and health.”

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Portobello Capital’s and Vista Capital’s stakes in Maxam

Posted by fidest press agency su martedì, 13 settembre 2011

Edificio de la Bolsa de Madrid

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Madrid. Global private equity firm Advent International has today announced that it has entered into a definitive agreement to acquire shares representing 49.998% of MAXAM’s share capital, from Vista Capital and Portobello Capital. The remaining 50.002% of the company’s share capital continues to be controlled by MAXAM’s management team, led by its Chairman&CEO, José F. Sánchez-Junco. The transaction is subject to regulatory approval as MAXAM operates in a regulated market. The deal value has not been disclosed. MAXAM is the European leader and one of three global leaders in the civil explosives and initiation systems industry. The company is also active in the development, manufacturing and sale of mining services for mines, quarries and infrastructure around the globe; cartridges and gunpowder for sports ammunition; and products and services for the defence industry, in particular safe decommissioning of military explosives. The group comprises over 140 companies and has over 6,000 employees worldwide, with industrial facilities in more than 40 countries and sales in over 100 countries.
MAXAM’s origins date back to 1872, when Alfred Nobel founded Sociedad Española de Dinamita Privilegios A. Nobel in Bilbao. The business later merged with other leading Spanish explosives manufacturers to create Unión Española de Explosivos. Following several reorganisations and a rebranding, the company became MAXAM in 2006.
In 2010, MAXAM reported revenues of €888 million and EBITDA of €113 million. Between 2004 and 2010, the company recorded a compound annual growth rate of over 25%. In 2011, MAXAM will generate more than 60% of its revenues outside of Europe and North America.
Advent International will support the strategy developed by the MAXAM management team, as it pursues its national and international growth ambitions by expanding and strengthening its footprint in key markets, through both organic growth and selective acquisitions. Advent International was advised by N+1 (exclusive financial advisor), Uría y Menéndez and Clifford Chance (legal), Garrigues (tax), KPMG (financial and tax due diligence), Aon Gil y Carvajal (insurance) and Boston Consulting Group (industry and market analysis). The sellers have been advised by CMS Albiñana y Suárez de Lezo.
Founded in 1984, Advent International is one of the world’s leading global buyout firms, with offices in 17 countries on four continents. A driving force in international private equity for 27 years, Advent has built an unparalleled global platform of over 170 investment professionals across Western and Central Europe, North America, Latin America and Asia. The firm focuses on international buyouts, strategic repositioning opportunities and growth buyouts in five core sectors, working actively with management teams to drive revenue growth and earnings improvements in portfolio companies. Since inception, Advent has raised €19.4 billion in private equity capital and, through its buyout programmes, has completed over 270 transactions valued at over €40 billion in 35 countries.

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