SINGAPORE: AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “bbb+” of ERGO Insurance Pte. Ltd., Singapore. The Credit Ratings (ratings) of ERGO Insurance reflect its balance sheet strength,…
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, Inc. remain unchanged following the recent announcement by Prudential that…
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 Personal Banking for the Group and a member of Group…
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, titled, “Bank Loans: Low Credit Quality, But Manageable Exposure,” notes…
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 Sheffield. The acquisition marks the continuation of the Group’s expansion…
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 a first-of-its-kind concept that CDL has pioneered for a sustainability-linked…
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 state-of-the-art Automated Transfer System (ATS+), an official said. “In recognition…
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 “ccc” from “b” of National Insurance Company Limited (National) (India)….
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 Insurance Company Limited (Oriental) (India). The outlook of the FSR…
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 to date. The first phase of the investment programme commenced…
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 (CEO) and Executive Member of the Board of Directors of…
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 new Best’s Market Segment Report, titled, “Market Segment Outlook: Bolivia Insurance Industry,”…