HOTEL VILLA FONTAINE PREMIER/GRAND HANEDA AIRPORT OFFERS ROOMS FEATURING POPULAR CHARACTERS

KUALA LUMPUR, March 29 (Bernama) -- Sumitomo Fudosan Villa Fontaine Co Ltd, a Sumitomo Realty Group, has begun offering guestrooms featuring a major Japanese carrier and popular characters known worldwide such as Hatsune Miku and LINE FRIENDS at Hotel Villa Fontaine Premier/Grand Haneda Airport.

According to a statement, it is Japan's largest airport hotel with 1,717 guestrooms and directly connected to Haneda Airport (Tokyo International Airport) Terminal 3.

The establishment has set aside specially designed about 100 guestrooms featuring popular characters along with other well-known entities from Japan and worldwide to enhance the value of staying at the hotel.

The company aims to provide guests with a unique and memorable experience near Haneda Airport, which is striving to become a tourism-oriented country.

Sumitomo Fudosan Villa Fontaine has partnered with Japan Airlines (JAL); Hatsune Miku; Kanosei Art Project by TOPPAN Group; KOKUYO; LINE FRIENDS; Love Live! Nijigasaki High School Idol Club; and Sirotan, to offer unique themed guestrooms.

As part of the collaboration, Hatsune Miku, a virtual singer that is popular worldwide, along with five other Piapro characters, namely  Kagamine Rin, Kagamine Len, Megurine Luka, MEIKO and KAITO, will be in the project which marks the first collaboration of all the six characters with a hotel.

Meanwhile, JAL will showcase a record of 24 guestrooms dedicated to their collaboration, in line with the number of the carrier's international flights from Haneda.

Additionally, partnership with Japanese stationery company KOKUYO who operated KOKUYODOORS, will oversee the design and layout of the rooms, while alliance with LINE FRIENDS will feature soft colours and Japanese flavours in the guestrooms' unique design that can be seen only at this hotel.

Connected with Haneda Airport Terminal 3, the hotel is convenient for guests who stay there pre & post arrival/departure, and covers a wide range of needs which is not only for business but also for leisure.

-- BERNAMA

AM BEST AFFIRMS CREDIT RATINGS OF NAN SHAN GENERAL INSURANCE CO., LTD.

HONG KONG, March 29 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Nan Shan General Insurance Co., Ltd. (Nan Shan General) (Taiwan). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect Nan Shan General’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).

Nan Shan General’s risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), has significantly improved and is assessed as being at the very strong level as of year-end 2023. The result is underpinned by the capital contribution of TWD 1.5 billion in cash in 2023, from Nan Shan General’s immediate parent, Nan Shan Life Insurance Co., Ltd (Nan Shan Life), to restore Nan Shan General’s capital strength, following the large claims arising from pandemic insurance since 2022. AM Best expects Nan Shan General to maintain its level of risk-adjusted capitalisation over the short to intermediate term. Offsetting factors in the balance sheet strength assessment include the company’s heightened exposure to catastrophe risks in tandem with increased retention levels in its reinsurance arrangements amid rising reinsurance costs, as well as the moderately high historical dividend payout ratio, despite the company not declaring dividends in 2023.

Nan Shan General reported positive operating results in 2023, partially supported by the release of reserves provisions for pandemic insurance claims and positive investment performance. The company’s return on equity has been restored to a high single-digit level. Nan Shan General achieved double-digit growth on gross premiums written in 2023, mainly driven by expansions in voluntary motor, travel insurance and commercial lines. The company has increased premium retention in the major voluntary motor line since 2023, which continues to be a major driver of the overall underwriting results. This product line has exhibited an increasing trend in the loss ratio, while its net commission expense is projected to increase due to reduced reinsurance commission income.

The company’s bond portfolio has continued to contribute stable streams of interest income, which helped to partially offset volatility in equity investments during 2023. AM Best expects Nan Shan General to continue to focus on domestic fixed-income securities and maintain moderate exposure to equity securities with an aim to boost overall investment returns.

Nan Shan General is a wholly owned subsidiary of Nan Shan Life, which is the third-largest life insurance company in Taiwan in terms of total assets. While Nan Shan General’s business scale is small within Nan Shan Life, the company benefits from parental support in terms of the shared brand recognition, strong distribution support and operating and capital commitments.

Negative rating actions could occur if there is a material decline in Nan Shan General’s risk-adjusted capitalisation, for example, due to a much faster-than-expected expansion in underwriting and/or investment risks that outpaces the growth in capital and surplus, or the company experiences large underwriting losses that significantly erode its capital strength. Negative rating actions could also occur if there is a sustained deterioration in the company’s operating performance. Additionally, negative rating actions could occur if Nan Shan Life experiences a significant deterioration in its credit fundamentals, which AM Best views as having a material negative impact on Nan Shan General. Although it is deemed to be unlikely over the short to intermediate term, positive rating actions could occur if the company demonstrates sustainable improvement in operating performance while maintaining the appropriate ERM assessment.

Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: 
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Contact

Madison Fan
Financial Analyst
+852 2827 3416
madison.fan@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

James Chan
Director, Analytics
+852 2827 3418
james.chan@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com


Source : AM Best

AM Best Affirms, Withdraws The Hollard Insurance Company Credit Ratings

KUALA LUMPUR, March 22 (Bernama) -- Global credit rating agency, AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of Australia’s The Hollard Insurance Company Pty Ltd (HIC).

In a statement, AM Best said concurrently, it has withdrawn these ratings as the company has requested to no longer participate in the credit rating agency’s interactive rating process.

The outlook of these credit ratings (ratings) is stable, reflecting HIC’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

The ratings also factor in a neutral impact from the company’s ownership by Hollard Holdings Australia Pty Ltd (HHA).

HIC’s balance sheet strength assessment is supported by its unconsolidated risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio, which was at the adequate level at fiscal year-end June 30, 2023.

AM Best views the company as having strong financial flexibility, with a track record of shareholder support, including capital injections and hybrid debt issuances. In December 2023, HIC issued AUD$135 million in wholesale subordinated notes, which bolstered its regulatory capital position. (AUD$1=RM3.09)

On an unconsolidated basis, HIC’s operating performance was viewed as adequate, with an average return-on-equity ratio of 4.5 per cent over fiscal-years 2019-2023.

The company recorded limited underwriting profits over this period due to the adverse impact of several weather events, COVID-19-related provisions and elevated claims inflation.

The rating agency assesses HIC’s business profile as neutral. The company is one of the top 10 non-life insurers in Australia based on gross written premiums, occupying a modest market share of approximately four per cent in 2023.

-- BERNAMA

"UCHIBOSO HYAKUNENGO ART FESTIVAL: ENVIRONMENT AND DESIRE" TO BE HELD IN UCHIBOSO REGION OF CHIBA PREFECTURE

CHIBA, Japan, Mar. 19, 2024 /Kyodo JBN/ --

As part of an official project to celebrate the 150th anniversary of Chiba Prefecture's founding, "Uchiboso Hyakunengo Art Festival: Environment and Desire" -- a novel art festival integrating the power of art, creativity, and technology -- will be held in five cities (Ichihara, Kisarazu, Kimitsu, Sodegaura, and Futtsu) in the prefecture’s Uchiboso area on the Boso Peninsula facing the Tokyo Bay from March 23 to May 26, 2024.

Image: https://cdn.kyodonewsprwire.jp/prwfile/release/M102229/202402266989/_prw_PI1fl_P8i7Cd61.jpg

About 90 artworks, created by a total of about 80 modern artists from Japan and abroad using various techniques such as those of paintings, sculptures, videos and installation art, will be exhibited at venues such as museums in the five cities. The event is designed to provide people with opportunities to enjoy Chiba Prefecture's culture, history, rich nature, and local food while visiting the five cities to appreciate the artworks.

Title: Uchiboso Hyakunengo Art Festival: Environment and Desire
Venues: 5 Uchiboso cities (Ichihara City, Kisarazu City, Kimitsu City, Sodegaura City, Futtsu City)
Period: March 23 (Saturday) to May 26 (Sunday), 2024
*Closed on every Tuesday and Wednesday (except for April 30 and May 1. Some venues will be closed on different days.)
Opening hours: 10:00 - 17:00
*Exhibition days and hours may vary depending on artworks.
Website: https://100nengo-art-fes.jp/en/uchiboso/

List of some of the artists
Tetsuya Umeda, Motohiko Odani, Yayoi Kusama, SIDE CORE, Hiraki Sawa, Kohei Nawa, Takeshi Yasura, Dinh Q. Le

Work appreciation passport:
Sales period: March 23 - May 26, 2024
Prices: 3,500 yen (adults), 2,000 yen (elementary, junior, senior high school students)
*The tickets for appreciating artworks are sold at on-site information centers and other relevant places.

Source: Chiba Prefectural Government

--BERNAMA

NEW ZEALAND’S FIDELITY LIFE ASSURANCE RATINGS AFFIRMED EXCELLENT - AM BEST

KUALA LUMPUR, March 15 (Bernama) -- Global credit rating agency, AM Best has affirmed New Zealand’s Fidelity Life Assurance Company Limited (Fidelity Life Assurance) financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent).

These credit ratings (ratings), which have a stable outlook reflect Fidelity Life Assurance’s balance sheet strength, that AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

Fidelity Life Assurance’s balance sheet strength assessment is underpinned by its risk-adjusted capitalisation, which is at the strongest level as of fiscal year ending June 30, 2023, as measured by Best’s Capital Adequacy Ratio.

The company has a robust capital management strategy that supports a solid regulatory solvency position, as well as the maintenance of risk-adjusted capitalisation at the strongest level over the medium term.

In a statement, AM Best said the ratings partially offsetting balance sheet strength factor is Fidelity Life Assurance’s high reliance on third-party reinsurance.

AM Best also views Fidelity Life Assurance as having good financial flexibility, supported by its two largest shareholders, NZ Superannuation Fund and Ngāi Tahu Holdings Corporation Limited.

Over the past two fiscal years, operating earnings were dampened due to elevated integration and transaction costs associated with the acquisition of Westpac Life-NZ- Limited (subsequently renamed to Fidelity Insurance Limited [Fidelity Insurance]).

However, AM Best expects operating performance metrics to improve prospectively, supported by scale efficiencies arising from the group’s increased operational size, as well as enhanced technological capabilities.

Fidelity Life Assurance ranks among the largest life insurance companies in New Zealand, recording significant premium growth following the acquisition of Fidelity Insurance in fiscal year 2022.

The insurance policies are distributed predominantly through financial advisers and Westpac New Zealand Limited’s banking network, with an exclusive 15-year distribution arrangement with the bank.

-- BERNAMA

BLACK & VEATCH TO PROVIDE CONCEPT DESIGNS FOR H2EX'S NATURAL HYDROGEN, HELIUM PROJECT

KUALA LUMPUR, March 14 (Bernama) -- Black & Veatch, a global leader in critical infrastructure solutions, will study the exploration and extraction of natural hydrogen and helium in Australia.

The development study is an engineering services agreement between Australian-owned natural hydrogen company H2EX Limited, a world leader in exploring naturally occurring hydrogen, and Black & Veatch.

According to Black & Veatch in a statement, the objective of the study is to unlock first-mover benefits for Australia within an emerging sector globally, as well as create substantial local and export opportunities while retaining the country’s competitive advantage and technical and engineering expertise.

Black & Veatch managing director, Strategic Growth, Global Advisory, Yatin Premchand said decarbonisation efforts in the Asia Pacific were a priority for the company, which include extracting natural hydrogen, a potential clean energy source for the region.

The company will provide two concept designs on H2EX’s exploration licence PEL 691 on the Eyre Peninsula in South Australia as part of the development study.

One concept design will be for the drilling and completion of an exploration well, while the other will be for surface facilities to purify, process and deliver natural hydrogen and helium, including co-production of the resources, if they are found together.

Black & Veatch will also analyse gas industry practices related to conventional well drilling and extraction infrastructure and identify key considerations to adapt these practices for natural hydrogen and helium.

The research into extraction solutions will provide a pathway to drill and extract the lowest-cost hydrogen, which could be up to 75 percent more cost-effective than manufacturing hydrogen.

Estimated to complete by mid-2024, the study is partly funded by Australia’s Federal Department of Science and Innovation via its Cooperative Research Council Projects (CRC-P) Grants Round 14 initiative led by H2EX, that supports short-term, industry-led research collaborations.

-- BERNAMA

EPIC CORPORATION SETS FOR GLOBAL APP LAUNCH DRIVEN BY STRONG ANNUAL REVENUE

KUALA LUMPUR, March 13 (Bernama) -- Epic Corporation operating Epic One, a South Korean luxury secondhand trading platform has achieved an annual revenue of US$17 million (19 billion Korean won) last year and successfully raised US$3 million (3.5 billion Korean won) in funding. (US$1=RM4.68)

Epic Corporation Chief Executive Officer, Sarah Kim in a statement said the company is gearing up to leap into becoming the number one luxury lifestyle platform in Asia.

It is preparing to launch its app in new markets with significant growth potential and high spending on luxury goods, including Singapore, Hong Kong, and the Middle East.

The app allows users to easily sell their products by simply uploading five photos and receiving an immediate price quote in addition to facilitating secondhand transactions by connecting sellers with buyers through consignment.

Utilising an artificial intelligence-based pricing system, the platform ensures swift transactions with significantly higher closure rates compared to other secondhand trading sites.

With its innovative strategies, Epic Corporation has experienced rapid growth within just a year and a half since its founding, positioning itself as a game-changer in the Asian luxury secondhand trading industry.

Epic Corporation specialises in the secondhand trading of high-end furniture, luxury watches, and bags, providing a secure logistics system with genuine product verification and insurance.

-- BERNAMA

SMARTSTREAM UNVEILS ENHANCED DERIVATIVES DATA FOR EMIR REFIT STANDARDS

KUALA LUMPUR, March 13 (Bernama) -- SmartStream Reference Data Services (RDS), a financial reference data provider, has launched an enhanced derivatives data service, providing in-depth insights into futures related transactions.

According to SmartStream in a statement, this expansion is crucial for meeting the European Market Infrastructure Regulation (EMIR) Refit reporting requirements.

“The main challenges posed by this regulation, include completing the numerous new reportable fields for commodity and energy derivatives. Also to protect firms from poor-quality and inaccessible data, in addition to addressing regulators' demands for increased complexity within certain commodity and energy contracts.

“My advice to all market participants is to be prepared and deploy the necessary technology to ensure the highest data quality to mitigate the risk of fines and reputational damage,” said SmartStream RDS Executive Vice President, Linda Coffman.

The EMIR Refit initiative, set to take effect in April for Europe and September for the United Kingdom, is geared towards enhancing transparency and stability in the over-the-counter (OTC) derivatives trading market.

A significant concern within the industry and among participants revolves around identifying unexpected data quality issues and navigating the complexities of reporting fields, particularly concerning commodity and energy derivatives.

Financial institutions are actively seeking reliable and efficient methods to manage their securities reference data to meet these new requirements.

Therefore, with RDS, additional attributes will be integrated into the RDS’s Listed Derivatives service and a standalone OTC Derivatives service to support the full spectrum of reference data needed for commodity transactions under the new EMIR regulation.

SmartStream RDS, renowned for delivering quality reference data as a managed service, will leverage its deep trade lifecycle expertise and highly skilled resources to provide accurate data and customised regulatory operations tailored to each financial institution, ensuring compliance with the new EMIR Refit standards.

-- BERNAMA

ZOOM THROUGH JAPAN WITH BULLET TRAIN TICKET SERVICE

KUALA LUMPUR, March 12 (Bernama) -- Inbound Platform Corp has launched its Shinkansen (bullet train) ticket service, which includes basic fares, express tickets and the innovative ticket issuance via QR codes, for international travellers and foreign residents in Japan, starting from March 1.

Through the "JAPAN BULLET TRAIN" website provided by the company, international travellers and foreign residents can effortlessly book and manage Shinkansen tickets in less than two minutes, while also eliminating language barriers and ensuring seamless experience.

Known for its diverse range of travel services catering to international travellers and foreign residents, Inbound Platform Corp has decided to expand and extend support by facilitating Shinkansen ticket bookings.

Recognising the complexities, time constraints and language barriers involved in purchasing Shinkansen tickets, the company aims to streamline the entire booking process through the new service. 

According to a statement, with a commitment to exceptional customer service, the company offers telephone assistance in seven languages for a flawless travel experience.

Currently available in English, Mandarin Chinese and Korean, the company plans to incorporate Spanish and French in the near future as well as to integrate additional payment options such as Google Pay and Wechat Pay, while currently accepting credit cards and Apple Pay.

In the near future, Inbound Platform Corp intends to provide the Shinkansen reservation service to travel agencies and web media worldwide, aiming to make Shinkansen bookings in Japan as convenient as possible.

-- BERNAMA

ZENAS BIOPHARMA APPOINTS PATRICIA ALLEN TO ITS BOARD OF DIRECTORS

WALTHAM, Mass., March 7 (Bernama-GLOBE NEWSWIRE) -- Zenas BioPharma, a global biopharmaceutical company committed to becoming a leader in the development and commercialization of inflammation and immunology-directed therapies, today announced the appointment of Patricia Allen to its Board of Directors, on which she also will serve as Chairperson of the Audit Committee. Ms. Allen joins the Zenas Board of Directors with over 20 years of experience leading finance, investor relations, business development, human resources, operations and IT at global public and private biotechnology companies.

“We are pleased to welcome Patty to our Board of Directors,” said Lonnie Moulder, Founder and Chief Executive Officer of Zenas BioPharma. “She has successfully led cross-organizational functions and served on the board of directors of both private and public global biotechnology companies. We look forward to Patty’s contributions to the next phase of Zenas’ growth as we advance our mission to develop and commercialize transformative immunology-based therapies for patients in need.”

“I look forward to collaborating with the experienced Zenas team and Board of Directors, who are building a leading of inflammation and immunology-focused global biopharmaceutical company through disciplined pipeline execution and business development,” said Ms. Allen. “This is an exciting time for Zenas as they seek to progress multiple programs through the clinic to ultimately improve the lives of those living with autoimmune diseases.”

Ms. Allen most recently served as the Chief Financial Officer at Vividion Therapeutics, from where she recently retired. While at Vividion, she co-led led fundraising and the company’s acquisition by Bayer AG, as the company grew and advanced multiple programs towards the clinic. She currently serves on the board of directors and as chair of the audit committee of Deciphera Pharmaceuticals, SwanBio Therapeutics and Anokion, in addition to holding past board member and audit committee chair roles at Inversago Pharma and Yumanity Therapeutics.

Prior to Vividion, Ms. Allen was the Chief Financial Officer at Zafgen, Inc. (now Larimer Therapeutics). Earlier, she was Vice President of Finance and Treasurer, Principal Financial Officer of Alnylam Pharmaceuticals, Inc.; Director of Finance at Alkermes, Inc.; and Auditor at Deloitte & Touche, LLP. She received a B.S. in Business Administration from Bryant College. 

http://mrem.bernama.com/viewsm.php?idm=48171

FINALISTS IN 18TH ANNUAL STEVIE AWARDS FOR SALES & CUSTOMER SERVICE REVEALED

KUALA LUMPUR, March 7 (Bernama) -- The Stevie Awards has unveiled finalists in the 18th annual Stevie Awards for Sales & Customer Service, an international competition recognising excellence in customer service, contact centres, business development, and sales.

A diverse group of organisations and individuals worldwide have been recognised in awards categories for sales executives, solution providers, contact centres, new products and services, among others.

Organisations with five or more finalist nominations include Allianz Services Pvt Ltd; Avetta; Blackhawk Network; Capital Rx; CivicPlus; Datasite; DHL Express Vietnam; DHL Express (worldwide); Element Electronics; Inspiro; Intuit; Loveholidays; OpenGov; and Purpol Marketing Limited.

According to a statement, all finalist nominations ultimately will be named Gold, Silver, and Bronze Stevie Award winners and the placements will be revealed during a gala banquet on April 12 in Las Vegas, Nevada.

More than 2,300 nominations from organisations of all sizes and in virtually every industry were evaluated in this year’s competition, in which finalists were determined by the average scores of over 200 professionals worldwide in seven specialised judging committees. 

All nominated finalist customer service departments will be included in voting for the People’s Choice Stevie Awards for Favorite Customer Service whereby the general public may vote for their favourite providers of customer service until March 29.

Furthermore, nominations for a special prize, the Sales Partnerships Ethics in Sales Award, remain open through March 15 and there are no entry fees for nominees submission for this award, which will recognise outstanding examples of ethical sales practices.

-- BERNAMA 

XSOLLA UNVEILS CROSS-PLAY AND CROSS-PAY STRATEGY FOR ENHANCED MULTI-PLATFORM MONETIZATION FOR MOBILE GAMES

 

(Graphic: Xsolla) 

Empowering Mobile Game Developers to Monetize Across Multiple Platforms Beyond Traditional App Stores

LOS ANGELES, March 6 (Bernama-BUSINESS WIRE) -- Xsolla, a global video game commerce company, has introduced Cross-Play and Cross-Pay, an innovative approach to mobile game monetization. In response to the evolving landscape, Xsolla’s suite of solutions enables mobile game developers to seamlessly transition their games from mobile to the web, desktop, and cloud while offering diverse monetization models out-of-the-box to power profitable direct-to-consumer sales for game developers.
 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240305100421/en/ 

As the video game industry evolves, players anticipate engaging with their favorite titles seamlessly across all platforms, form factors, and control methods. This growing expectation places Cross-Play at the forefront of modern game development strategies. Mobile game developers can now effortlessly deploy their games across Mobile, PC, Console, Cloud, and Web with Xsolla Launcher and Xsolla Cloud Gaming.

Xsolla Launcher makes it easier for developers to leverage the capabilities of desktop computing, including enhanced graphics, gameplay depth, and longer play sessions when porting mobile games to PC. 

http://mrem.bernama.com/viewsm.php?idm=48163

MCO (MYCOMPLIANCEOFFICE) WINS BEST ECOMMS SURVEILLANCE SOLUTION IN THE APAC REGTECH INSIGHT AWARDS

SINGAPORE, March 6 (Bernama-BUSINESS WIRE) -- Global compliance technology provider MCO (MyComplianceOffice) has been awarded Best eComms Surveillance Solution in the 2024 RegTech Insight APAC awards. These annual awards recognize innovative solutions that help companies effectively respond to evolving and ever more complex regulatory requirements across the global financial services industry.

“We’re honored to receive this award from RegTech Insight, and we thank all members of the industry community who voted for us,” said MCO CEO Brian Fahey. “Non-compliant employee communications and recordkeeping pose significant risk for firms today. With our communications surveillance and archiving solutions and the MyComplianceOffice platform, we’re committed to helping organisations proactively identify and mitigate compliance risk, meet regulatory obligations and drive efficiencies across their firms.”

Angela Wilbraham, CEO at A-Team Group, and host of the 2^nd annual RegTech Insight Awards APAC 2024, commented, “These awards celebrate providers of leading RegTech solutions, services and consultancy across Asia-Pacific. The winners were selected by A-Team Group’s RegTech Insight community and demonstrate exceptional creativity in building solutions that solve regulatory challenges. Our congratulations go to MyComplianceOffice (MCO) for winning Best e-Comms Surveillance Solution.”

MCO provides firms with streamlined solutions for monitoring and flagging risky communications and archiving cross-channel messages in compliance with global regulatory requirements. MCO’s MyComplianceOffice platform offers firms worldwide streamlined oversight of compliance obligations, integrated cross-capability surveillance across employees, transactions and third parties and a defensible audit trail.

“This achievement highlights our commitment to providing best-in-class compliance to firms across Asia-Pacific.“ notes MCO’s APAC Director Kelly-Ann McHugh. “With dedicated teams based in Singapore and Hyderabad and local customer service and implementation, we’re proud of our work to enable better compliance in the region. Thanks to our many Asia-Pacific customers for your trust and support and thanks to our stellar APAC team and the entire MCO organisation for your ongoing efforts.”

About MyComplianceOffice

MCO provides integrated compliance management software that enables global financial services firms to operate efficiently, ethically, and compliantly. With 25 products on a singular system, the powerful MyComplianceoffice platform lets compliance professionals demonstrate that they are proactively managing compliance obligations and the regulated activities of employees, the company and third party relationships.

1300+ client companies across 105+ countries use MyComplianceOffice to move away from manual processes and disparate systems and towards more strategic compliance.

View source version on businesswire.com: 
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Contact

Media:
Lisa Deschamp, Vice President, Global Marketing
MyComplianceOffice
lisa.deschamp@mycomplianceoffice.com

Source : MyComplianceOffice

Quantexa Expands Advisory Board With Boon Hui Khoo's Appointment

KUALA LUMPUR, March 4 (Bernama) -- Quantexa, a Decision Intelligence (DI) solutions leader for the public and private sectors, has appointed Boon Hui Khoo as a new Advisory Board member.

In a statement, Quantexa said with this appointment, Khoo joined other distinguished industry luminaries with expertise spanning technology, finance, healthcare, and national security as part of Quantexa’s Advisory Board.

Quantexa Chief Executive Officer and Founder, Vishal Marria said the company is pleased to welcome Khoo to its advisory board at a critical time of growth for the business in the Asia Pacific (APAC) region and beyond.

Meanwhile, Khoo said: “I look forward to combining my experience in law enforcement and global security with Quantexa’s impressive technology capabilities to help shape how its customers and partners use data to optimise and protect their organisations.”

A former INTERPOL President, and Senior Deputy Secretary for the Singapore Ministry of Home Affairs, Khoo brings a wealth of public sector experience in global security and law enforcement leadership to Quantexa.

He joins Quantexa’s Advisory board with 10 years of experience in providing strategic advice to companies on cyber security, policing, and financial crime.

His experience will help Quantexa realise its specific market ambitions to expand government agency engagements in Singapore and across the APAC region.

The expansion of Quantexa’s Advisory Board comes at a pivotal time of momentum for the organisation, following a successful year of investment. In 2023, Quantexa completed a SGD$129 million Series E funding round led by the Government of Singapore Investment Corporation. (SGD$1=RM3.51)

This was followed by the announcement of a SGD$155 million investment in the global artificial intelligence (AI) industry over the next three years to help clients advance the use of AI to protect, optimise, and grow their organisations.

-- BERNAMA

AM Best Affirms ICICI Lombard Credit Ratings

KUALA LUMPUR, March 4 (Bernama) -- Global credit rating agency, AM Best has affirmed India’s ICICI Lombard General Insurance Company Limited (ICICI Lombard) financial strength rating of B++ (Good) and the long-term issuer credit rating of “bbb+” (Good).

Concurrently, the credit rating agency has assigned the India National Scale Rating (NSR) of aaa.IN (Exceptional) to ICICI Lombard, with the outlook to these credit ratings (ratings) stable.

In a statement, AM Best said the ratings reflected ICICI Lombard’s balance sheet strength, which was assessed as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.

The company’s robust regulatory solvency position is supported by a track record of strong internal capital generation, with shareholders’ equity having exhibited a five-year average compound annual growth rate of 15 per cent, as calculated by AM Best (fiscal-years 2019-2023).

In addition, AM Best views the company as having strong financial flexibility as demonstrated by its track record of capital raising activities.

An offsetting balance sheet strength factor remains ICICI Lombard’s moderate-risk investment portfolio, which includes significant exposure to equities and fixed income securities that are non-rated on an international rating scale.

The company’s operating performance was also viewed as strong, with a five-year average return-on-equity ratio of 18.2 per cent, as measured by AM Best (fiscal-years 2019-2023), with robust overall operating results, albeit reliant on investment income (including capital gains) to offset underwriting losses.

Although ICICI Lombard’s five-year average combined ratio was 104.8 per cent, it has consistently outperformed the domestic general insurance market in India. Underwriting performance improved in fiscal-year 2023, mainly driven by a reduction in COVID-19 claims from the health business.

ICICI Lombard is the second-largest non-life general insurer in India, with an overall market share of 8.2 per cent based on fiscal-year 2023’s gross domestic premium income, and is anticipated to enhance its underwriting risk selection via the adoption of technology and analytics.

-- BERNAMA

New Zealand's FMG Insurance Rated Excellent - AM Best

KUALA LUMPUR, March 1 (Bernama) -- Global credit rating agency, AM Best has affirmed New Zealand’s FMG Insurance Limited (FMGIL) financial strength rating of A (Excellent) and the long-term issuer credit rating of “a” (Excellent).

In a statement, AM Best said these credit ratings (ratings) which have a stable outlook, reflected FMGIL’s balance sheet strength, was assessed as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

In addition, the ratings factor in a neutral holding company impact from the company’s 100 per cent ownership by Farmers’ Mutual Group (FMG).

FMGIL is considered to have a comprehensive reinsurance programme that provides protection against high-severity modelled catastrophe events in New Zealand, with which its investment portfolio was viewed by AM Best to be of moderate risk with a focus on cash and high-quality fixed-income securities, albeit with some exposure to equities.

A partially offsetting balance sheet strength factor is the company’s limited financial flexibility, given its ultimate ownership by FMG, a mutual organisation.

The rating agency assesses FMGIL’s operating performance as adequate, with a five-year average return-on-equity ratio of 6.7 per cent (fiscal years 2019-2023). For fiscal year 2023, the company reported negative underwriting and operating results, due to a combination of claims cost inflation and the impact of several large weather events in New Zealand.

Notwithstanding this, AM Best expects the company’s robust pricing strategy and positive investment returns to help maintain its adequate operating performance assessment over the medium term.

FMGIL has a strong direct distribution business model that is built on long-standing customer relationships and supported through its ownership by FMG, which has a long history and strong brand recognition in New Zealand’s rural sector.

Whilst operating solely in New Zealand, FMGIL’s premium base is better diversified geographically compared with other domestic general insurers, as its focus on the rural sector helps to spread its insured risks across the country.

-- BERNAMA

Paratus Sciences CEO To Present At Singapore Summit Next Month

KUALA LUMPUR, Feb 29 (Bernama) -- Biotechnology company, Paratus Sciences Corporation announced its Chief Executive Officer (CEO), Theresa Heah will participate in the third BioCentury-BayHelix East-West Biopharma Summit from March 4 to 6, in Singapore.

According to Paratus Sciences in a statement, Dr Heah will participate in a panel discussion titled, “How Will Asia Drive Biotech’s Golden Age?” and present a corporate overview at the conference on March 5.

Headquartered in New York with a subsidiary in Singapore, Paratus Sciences is accelerating the discovery of novel therapeutics by leveraging the extraordinary adaptive biology of bats.

The company is also committed to supporting the bat research community through its division, the Bat Biology Foundation.

-- BERNAMA