MANAMA, BAHRAIN: INOVEST, a Category 1 Investment Firm (Shari’a Principles) regulated by the Central Bank of Bahrain and publicly listed on both Bahrain Bourse and Boursa Kuwait, announced its financial results for the first nine months of 2019, reporting a consolidated net profit attributable to parent shareholders of US$5.01 million, representing a 59% decline as…
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).
BHB commences subscription in the 19th issue of Government Development Bond
MANAMA, BAHRAIN: Bahraini and non-Bahraini investors can now directly subscribe through the primary market of Bahrain Bourse (BHB) in the Government Development Bond Issue 19 (BHD 185 million) that has been issued by the Central Bank of Bahrain (CBB). Bahrain Bourse (BHB) is issuing the bonds on behalf of the Government of Bahrain by executing…
AM Best affirms ratings of Spirit Insurance and Radius Insurance
OLDWICK: AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” of Spirit Insurance Company and Radius Insurance Company. The outlook of these Credit Ratings is stable. The ratings reflect Spirit and Radius’ balance sheet strength, which AM Best categorizes as very strong, as well as…
AM Best affirms credit ratings of MetLife, Inc. and its subsidiaries
OLDWICK: AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” of the New York based Metropolitan Life Insurance Company (MLIC) and Metropolitan Tower Life Insurance Company, collectively referred to as MetLife Insurance Group. Additionally, AM Best has affirmed the Long-Term ICR of…
AM Best affirms credit ratings of General de Seguros
MEXICO CITY: AM Best has affirmed the Financial Strength Rating of A- (Excellent), the Long-Term Issuer Credit Rating of “a-”, and the Mexico National Scale Rating (NSR) of “aaa.MX” of General de Seguros, S.A.B. (Genseg). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Genseg’s balance sheet strength, which AM Best categorizes…
Outlook on Japan non-life insurance market stable
HONG KONG: AM Best has maintained a stable market segment outlook on Japan’s non-life insurance segment, as domestic insurers record profitable underwriting performance despite significant catastrophe losses. However, according to a new AM Best report, the recent consumption tax hike and ongoing global trade tensions could create pressure on the insurance companies operating in the…
Mexico insurance industry outlook stable: AM Best
MEXICO CITY: The AM Best rating company is maintaining a stable market segment outlook on Mexico’s insurance market. The stable outlook is based on the strong balance sheets of the insurance companies operating in the country, backed by robust reinsurance programs, according to a new AM Best report. A new Best’s Market Segment Report, titled,…
Kiwibank Ltd. ‘A/A-1’ ratings affirmed; outlook positive
MELBOURNE: S&P Global Ratings has affirmed its ‘A’ long-term and ‘A-1’ short-term issuer credit ratings on Kiwibank Ltd. The outlook on the long-term rating is positive, reflects the view that the bank’s risk appetite is now converging with that of its peers. “It also reflects our expectation that following recent management changes, a clear and…
Derwent London signs a new 5-tear £450 million revolving credit facility
LONDON: Derwent London has agreed and signed a new five-year £450 million revolving credit facility (RCF) from HSBC UK, Barclays and NatWest. The financing includes a ‘green’ tranche of £300 million, making it the first revolving credit facility provided to a UK REIT that meets the LMA Green Loan Principles. Derwent is the largest London-focused…
S&P revises outlook on Powerlong to stable from negative
HONG KONG: S&P Global Ratings has revised its outlook on Powerlong to stable from negative given enhanced debt control. At the same time, S&P affirmed ‘B+’ long-term issuer credit rating on the China-based developer, and the ‘B’ long-term issue rating on the company’s senior unsecured notes. The stable outlook reflects that Powerlong will maintain its…
Argo Blockchain to increase mining capacity by 240%
LONDON: Argo Blockchain, a leading enterprise-scale cryptominer based in the UK, has amended and expanded its existing order for mining equipment from leading supplier, Bitmain. The Company’s existing order for 5,000 Antminer S17s costing $13.09M USD has been replaced by an order for 10,000 Antminer T17s costing $9.51M USD. Argo’s existing S17 down payment of…
AM Best affirms credit ratings of Caribbean Alliance Insurance Company
OLDWICK: AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Caribbean Alliance Insurance Company Limited (CAIC). The outlook of these Credit Ratings is stable. The ratings reflect CAIC’s balance sheet strength, which AM Best categorizes as strongest, as well as its strong operating performance,…