OLDWICK: AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” of the core Blue Cross Blue Shield-branded insurance subsidiaries of Anthem, Inc.. The outlook of these Credit Ratings is stable. Concurrently, AM Best has affirmed the Long-Term ICR of “bbb+”, the Long-…
Category: Australian Exchange
Australian Securities Exchange news today and company announcements regarding mergers, acquisitions, appointments, expansion and technology of companies listed on Australian Securities Exchange (ASX).
Bank of New Zealand migrates to 9 Spokes’ next generation platform
AUCKLAND: 9 Spokes International, a leading marketplace and insights company to small businesses, has released its next generation platform. Bank of New Zealand (BNZ) is the first to migrate users of its small business service, MyBusiness Live, to a white-label instance of the new platform —having launched on the previous version in May this year….
AM Best affirms credit ratings of KB Insurance Co and Fubon Insurance Co
HONG KONG: AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of KB Insurance Co., Ltd. of South Korea. The outlook of these Credit Ratings is stable. The ratings reflect KBI’s balance sheet strength, which AM Best categorizes as strong, as well as its adequate…
Emirates Investment Bank posts decline in profits
DUBAI, UAE: Emirates Investment Bank (EIBank) announced its financial results for the first nine months of 2019 recording total comprehensive income for the nine-month period ended 30 September 2019 reaching AED 30.37 million as against AED 29.65 million same period in 2018. Net profit reached AED 21.50 million for the nine-month period ended 30 September…
AM Best affirms credit ratings of Atradius Seguros de Crédito, S.A.
MEXICO CITY: AM Best has affirmed the Financial Strength Rating of A (Excellent), the Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” and the Mexico National Scale Rating of “aaa.MX” of Atradius Seguros de Crédito, S.A. The outlook of these Credit Ratings (ratings) is stable. Atradius Mexico is a member of the Atradius group, which…
S&P affirms credit ratings of Taiwan Semiconductor Manufacturing
HONG KONG: S&P Global Ratings has affirmed its ‘AA-‘ issuer credit ratings on Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC). S&P also revised liquidity assessment on the company to strong from exceptional. TSMC’s plan to accelerate investments in advanced 7 nanometer (nm) and 5nm process technology should help it maintain its technology leadership, support faster growth…
QIIB begins pre-Sukuk launch business tour
DOHA: Qatar International Islamic Bank has begun a business tour involving a series of meetings with investors in several countries, as the bank plans to issue a USD denominated Sukuk. Qatar International Islamic Bank (QIIB), appointed Standard Chartered Bank as Sole Structuring Advisor, QNB Capital and Standard Chartered Bank as Joint Global Coordinators, and Barwa…
AM Best revises rating outlook to negative for the Order of United Commercial Travelers of America
OLDWICK: AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating of B (Fair) and the Long-Term ICR of “bb+” of The Order of United Commercial Travelers of America (UCT). The outlook of the FSR remains stable. The Credit Ratings reflect…
Mothercare UK announces measures to being a cash generative and profitable business in FY21
LONDON: Mothercare UK Limited (Mothercare UK) and Mothercare Business Services Limited (MBS) have announced further steps in the restructuring of the Group to return to being a sustainable and profitable business. Mothercare plc earlier on 5 November 2019 had announced appointment of Zelf Hussain, Toby Banfield, and David Baxendale of PricewaterhouseCoopers LLP as administrators to…
Visa launches suite of security capabilities to prevent and disrupt payment fraud
BARCELONA, SPAIN:Visa has launched a suite of innovative security capabilities to help prevent and disrupt payment fraud, breaking new ground in cyber security and fraud prevention across Central & Eastern Europe, Middle East and Africa (CEMEA) at the Visa CEMEA Security Summit 2019 in Barcelona, Spain, a press release said. The forum brings together payment…
Amanat Holdings posts 38% increase in net profit
DUBAI: Amanat Holdings PSJC announced its consolidated financial results for the nine-month period ended 30 September 2019 recording an increase of 38% in net profit to reach AED 33.4 million in 9M-2019. Amanat Holdings is the GCC’s largest healthcare and education investment company. The increase in income from investments in 9M-2019 was led by strong…
Multibank ‘BBB/A-2’ ratings placed on Watch Negative
MEXICO CITY: S&P Global Ratings has placed its ‘BBB’ long-term and ‘A-2’ short-term issuer credit ratings on Multibank on CreditWatch negative following Banco de Bogotá’s announcement of its intentions to acquire Multibank. The acquisition’s closing is pending approvals form the respective authorities and regulators. The CreditWatch placement is based on a likelihood that Multibank could…