AM Best maintains credit ratings of Prudential Financial following announced acquisition

OLDWICK: AM Best has commented that the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of “aa-” of the domestic life/health insurance subsidiaries of Prudential Financial,…

NNR September 6, 2019

Australian Exchange Singapore Exchange

Frank Vang-Jensen appointed President and CEO of Nordea Bank

STOCKHOLM: The Board of Directors of Nordea Bank Abp has appointed Frank Vang-Jensen as new President and Group CEO as of September 05, 2019. Frank Vang-Jensen is currently Head of…

NNR September 5, 2019

Australian Exchange

Majority of U.S. insurers’ bank loan holdings of low credit quality

OLDWICK: Of the $40.6 billion in bank loans owned by the U.S. life/annuity, approximately three-quarters are rated below investment grade, according to a new AM Best report. The Best’s Special Report,…

NNR September 4, 2019

Australian Exchange

Kingswood acquires WFI Financial for £14 million

LONDON: Kingswood Holdings Limited, the integrated wealth management group, has announced the acquisition of the business and assets of WFI Financial, a significant independent regional financial planning business based in…

NNR September 4, 2019

Australian Exchange Ratings

CDL and DBS Bank set benchmark on innovation-focused financing

SINGAPORE: City Developments Limited (CDL) has secured a S$250 million SDG Innovation Loan, in the form of a three-year revolving credit facility provided by DBS Bank Ltd. (DBS). This is…

NNR September 4, 2019

Australian Exchange

Pakistan to replace national payment gateway with state-of-the-art Automated Transfer System

KARACHI: Government of Pakistan has planned to upgrade and replace the existing central bank operated national payment gateway and payment system i.e. Real Time Gross Settlement System (RTGS) with a…

NNR August 29, 2019

Australian Exchange

Negative implications and downgraded credit ratings of National Insurance Company

SINGAPORE: AM Best has removed from under review with negative implications and downgraded the Financial Strength Rating to C (Weak) from C++ (Marginal) and the Long-Term Issuer Credit Rating to…

Chenos Kahn August 28, 2019

Australian Exchange

AM Best downgrades credit ratings of Oriental Insurance Company Limited

SINGAPORE: AM Best has downgraded the Financial Strength Rating (FSR) to B+ (Good) from B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb-” from “bbb+” of Oriental…

NNR August 28, 2019

Australian Exchange Oslo Bourse

Argo Blockchain announces new mining hardware delivers faster-than-expected returns

LONDON: Argo, a UK-based provider of enterprise scale cryptocurrency mining services announced that its strategy to make a major investment in new mining hardware has delivered better than expected returns…

NNR August 28, 2019

Australian Exchange

Panicos Nicolaou appointed CEO of Bank of Cyprus

NICOSIA: Bank of Cyprus Holdings Public Limited Company announced that on 26 August 2019 the European Central Bank approved the appointment of Panicos Nicolaou as the Group Chief Executive Officer…

NNR August 27, 2019

Australian Exchange

Bolivia insurance industry outlook stable as companies sustain growth trend

MEXICO CITY: AM Best has assigned a stable market segment outlook to Bolivia’s insurance industry, based on healthy growth, robust solvency ratios and a sufficient appetite from reinsurers. In a…

NNR August 26, 2019

Australian Exchange

South Korea insurers prepare to face new accounting and solvency rules

HONG KONG: AM Best views South Korea’s non-life insurers as being in a better position than their life counterparts to weather the impact of the International Financial Reporting Standards 17…

NNR August 26, 2019