OSLO, NORWAY: OKEA ASA delivered net profit of NOK 182 million in the fourth quarter 2020. OKEA operating income for the fourth quarter amounted to NOK 584 million, EBITDA was NOK 229 million, and net profit after tax amounted to NOK 182 million. Earnings per share amounted to NOK 1.78. The solid results for the…
AGP Limited led SPV to acquire product portfolio of Sandoz
KARACHI: AGP Limited, along with its parent Aitkenstuart Pakistan, has formed a special purpose vehicle (SPV), to acquire a select product portfolio of Sandoz AG. “The Board of Directors has authorized AGP Limited to participate with its parent company Aitkenstuart Pakistan through a special purpose vehicle (SPV) setup by Aitken for the purpose of acquisition…
Voyager Digital appoints Daniel Costantino as Chief Information Security Officer
NEW YORK: Voyager Digital Ltd., a crypto-asset broker, has appointed Daniel Costantino as Chief Information Security Officer. Mr. Costantino joins Voyager from Penn Medicine, where he was the Associate CIO and CISO. He will spearhead Voyager’s implementation and maturity of several information technology and security programs, including further enhancements to infrastructure scalability and best-in-class security…
Credit Ratings of Custodian and Allied Insurance Limited
LONDON: AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” of Nigeria based Custodian and Allied Insurance Limited (CAI), a wholly owned non-life subsidiary of Custodian Investment Plc. The outlook of these ratings is stable. The ratings reflect CAI’s balance sheet strength, which AM Best…
AM Best affirms Ratings of Mercury Insurance Group on strong balance sheet, operating performance
OLDWICK: AM Best has affirmed credit ratings of Mercury Casualty Group’s members and Mercury General Corporation based on strong balance sheet, operating performance, neutral business profile and appropriate enterprise risk management (ERM). 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…
AM Best withdraws ratings of First Assurance Life of America, Performance Life of America and Versant Life Insurance
OLDWICK: Insurance sector rating agency, AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of First Assurance Life of America, Performance Life of America and Versant Life Insurance Company. The outlook of these Credit Ratings (ratings) is stable. All companies are headquartered in…
Economic outlook for New Zealand remains uncertain: AM Best
SINGAPORE: The economic outlook for New Zealand remains uncertain despite an as of yet successful response to the pandemic, AM Best, a global credit rating agency, news publisher and data analytics provider, noted in a report New Zealand’s life insurance market is being tested by regulatory developments and a pandemic fuelled economic downturn, with the…
AM Best removes from under review, upgrades ratings of insurance companies
OLDWICK: Global rating agency AM Best has removed from under review with positive implications and upgraded the Financial Strength Rating (FSR) to A++ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa+” from “a” of Life Insurance Company of North America and Cigna Life Insurance Company of New York. The…
AM Best
Founded in 1899, AM Best is the world’s first credit rating agency. It all began with the founder working out of a one-room office in New York City and grew to become what is now the largest credit rating agency in the world specializing in the insurance industry. Headquartered in the United States, the company…
Moody’s upgrades Aker BP to Baa3 with stable outlook
OSLO: Aker BP announced that Moody’s Investor Service today has upgraded its long-term issuer rating of Aker BP from Ba1 to Baa3 with stable outlook. With this assignment, Aker BP is now investment grade rated by S&P Global Ratings, Fitch Ratings and Moody’s Investor Service, all with stable outlook. Aker BP is a fully-fledged E&P…
TECO 2030 signs pact with Thecla Bodewes Shipyards for zero emission vessels
LYSAKER: TECO 2030 ASA announced a partnership with Thecla Bodewes Shipyards in Holland to develop zero emission hydrogen-based fuel cell propulsion on all types of river going vessels, such as push tugs, dredgers, passenger and cargo ships and low-profile coasters. TECO 2030 ASA has signed a Strategic Cooperation Agreement with the Dutch Thecla Bodewes Shipyard…
TECO 2030 ASA
TECO 2030 ASA (OSE-Ticker: TECO is an innovative engineering and equipment development company aiming to significantly increase the use of renewable energy, specifically in the form of hydrogen fuel. cells, and reduce the environmental footprint of the shipping industry. TECO 2030 is striving in a fast-paced environment to help clients operate within the maritime rules…