LONDON: S&P Global Ratings revised its outlook on U.K.-based bank holding company HSBC Holdings PLC to negative. At the same time, S&P affirmed ‘A’ long-term and ‘A-1’ short-term issuer credit ratings on HSBC Holdings. “We also revised our outlook on…
TOKYO: Lifenet Insurance Company announced that Lifenet has concluded a comprehensive business alliance agreement with justInCase, Inc., which has received the first authorization to participate in regulatory sandbox system as a small-amount short-term insurer in Japan. Lifenet has entered this…
SYDNEY: PSC Insurance Group has announced the acquisition and completion of Carroll Insurance Group (CIG), a direct and wholesale broking business, operating in the Lloyd’s and London markets. CIG was acquired for £3.4 million (A$6.3 million), excluding net assets; 70%…
AUCKLAND: 9 Spokes, a leading marketplace and insights company to small businesses, has signed an addendum to its Collaboration Framework Agreement with Visa USA. Inc. enabling the parties to explore a potential opportunity to make the 9 Spokes platform and…
LONDON: In what could be a pivotal development for the insurance industry, insurers have encountered a range of influences that have raised the profile of illiquid assets on their balance sheets. In this context, AM Best recently surveyed Europe-based insurers…
PERTH: Azumah Resources Limited notified that IGIC Pte Ltd (an affiliate of Ibaera Capital Fund GP) has increased its relevant interest to over 50% of Azumah’s shares, thereby gaining control of the Company. The Independent Directors of Azumah unanimously recommend…
LONDON: Argo Blockchain Plc, a leading enterprise-scale cryptominer based in the UK, announced that 500 new Bitmain S17 Antminer machines were brought onstream last week, increasing the total number of machines in production to 7,000, a press release issued to…
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…
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…
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…
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…
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…