AM BEST MAINTAINS UNDER REVIEW WITH POSITIVE IMPLICATIONS STATUS FOR CREDIT RATINGS OF CENTURY INSURANCE COMPANY (GUAM) LIMITED

HONG KONG, Dec 18 (Bernama-BUSINESS WIRE) -- AM Best has maintained the under review with positive implications status for the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” of Century Insurance Company (Guam) Limited (CIC Guam) (Guam).

These Credit Ratings (rating) were placed under review on July 3, 2019, following an announcement that DB Insurance Co., Ltd. (DBI) has entered into an agreement with CIC Guam’s parent company, Tan Holdings Corporation (THC), to acquire an 80% stake in each of THC’s three insurance subsidiaries, including CIC Guam and two other insurers in Saipan and Papua New Guinea. DBI also is expected to secure the management rights in all three companies. At that time, AM Best indicated that the ratings would remain under review until the transaction was completed, and an assessment of the subsequent impact to CIC Guam’s business and credit profile could be determined.

The under review with positive implications status has been extended as regulatory approval is still pending. The companies now anticipate a transaction closing date in early 2020. CIC Guam’s ratings will remain under review until the close of the transaction, while AM Best continues to conduct further discussions with CIC Guam’s and DBI’s management teams to fully assess the rating impact.

Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data provider specializing in the insurance industry. The company does business in more than 100 countries. Headquartered in Oldwick, NJ, AM Best has offices in cities around the world, including London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20191217005710/en/ 

Contact

Yizhou Hong
Senior Financial Analyst
+852 2827 3426
yizhou.hong@ambest.com

Jason Shum
Associate Director, Analytics
+852 2827 3424
jason.shum@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Source : AM Best

--BERNAMA

AM Best maintains under review with positive implications status for CIC Guam

KUALA LUMPUR, Dec 18-- AM Best has maintained the under review with positive implications status for the Financial Strength Rating of B++ (good) and the Long-Term Issuer Credit Rating of ‘bbb+’ of Century Insurance Company (Guam) Limited (CIC Guam) Guam.

These ratings were placed under review on July 3, following an announcement that DB Insurance Co Ltd (DBI) has entered into an agreement with CIC Guam’s parent company, Tan Holdings Corporation (THC).

The agreement involved the acquisition of 80 per cent stake in each of THC’s three insurance subsidiaries - CIC Guam and two other insurers in Saipan and Papua New Guinea.

DBI is also expected to secure the management rights in all three companies.

At that time, AM Best indicated that the ratings would remain under review until the transaction was completed, and an assessment of the subsequent impact to CIC Guam’s business and credit profile could be determined.

The under review with positive implications status has been extended as regulatory approval is still pending.

The companies now anticipate a transaction closing date in early 2020. CIC Guam’s ratings will remain under review until the close of the transaction, while AM Best continues to conduct further discussions with CIC Guam’s and DBI’s management teams to fully assess the rating impact.

-- BERNAMA

CEIS, HSF unveil production trends of China's rubber, areca nut, agarwood

KUALA LUMPUR, Dec 19 -- Overall supply of natural rubber is expected to be tight in the first quarter of 2020, which will likely lead to the continuous rising of rubber prices, according to an annual report on the Xinhua-HSF natural rubber series price indexes (2018-2019).

The report was released jointly by China Economic Information Service (CEIS) of Xinhua News Agency and Haiken Group (HSF) at the 2019 Boao Forum for Entrepreneurs held in south China’s Hainan Province.

The report shows that sufficient supplies of natural rubber on a global scale will continue in the short term due to the large production capacity.

The two enterprises also released a report on the areca nut industry in 2018-2019.

The report shows that without a significant increase in the demand side, the areca nut fruits purchase price is expected to decline this month.

Meanwhile, CEIS and Chengmai County Government of Hainan Province released a report on the climate index of the agarwood industry.

The report reveals that China’s agarwood industry climate index in the first half of 2020 will be 130.19 points, well above the 100-point, implying the domestic agarwood enterprises' high expectations for the industry development.

According to CEIS vice-president Kuang Lecheng, the continuous release of rubber, areca nut and agarwood indices will help build brands of Hainan’s characteristic agricultural products.

-- BERNAMA

EPIQ ANNOUNCES NEW CHIEF INFORMATION OFFICER

Carlos Gonzalez Joins Epiq Leadership Team

NEW YORK, Dec 5 (Bernama-GLOBE NEWSWIRE) -- Epiq, the global leader in the legal services industry, announced today that Carlos Gonzalez has joined as chief information officer, reporting directly to David Dobson, CEO. Carlos is a seasoned leader who brings 20 years of global, technology experience in building scalable and high performing IT operations for large companies including IBM, American Home Mortgage, and Allscripts. He has significant experience across infrastructure, network, security, and data center operations management utilizing multiple technologies with a track record of improving reliability and creating enterprise success.

“Carlos is a world class technology leader with a very impressive track record of success.  Our strategy to continue to invest in technology, people and process to drive more value for our clients will be accelerated with him joining our team,” said David Dobson, chief executive officer of Epiq.

“Epiq’s focus on delivering best of breed technology solutions to its impressive client base drew me to join this great team and organization,” said Gonzalez.  “I believe we can build on our past technology successes while innovating for the future. This will allow us to continually improve the solutions and services we deliver to our clients to help them transform their business operations.”

Gonzalez most recently served as vice president and chief information officer at Mount Sinai South Nassau Hospital, one of the largest hospitals on Long Island and is recognized by US News & World Report’s 2019-2020 as a Best Regional Hospital. His background managing large-scale systems and operations has helped several organizations grow and achieve advancements in technology, including projects to increase stability and improve performance while reducing risk.

About Epiq
Epiq, a global leader in the legal services industry, takes on large-scale, increasingly complex tasks for corporate counsel, law firms, and business professionals with efficiency, clarity, and confidence. Clients rely on Epiq to streamline the administration of business operations, class action and mass tort, court reporting, eDiscovery, regulatory, compliance, restructuring, and bankruptcy matters. Epiq subject-matter experts and technologies create efficiency through expertise and deliver confidence to high-performing clients around the world. Learn more at www.epiqglobal.com.

Press Contact
Shanna Schultz
Epiq
+1 713 933 2922
shanna.schultz@epiqglobal.com
 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/279014ca-1e2e-4765-b2b9-28f003ab72fe
 

SOURCE: Epiq Systems Inc

--BERNAMA

B2Broker expands liquidity with 61 new Crypto CFD pairs

KUALA LUMPUR, Dec 5 -- B2Broker is expanding its Crypto CFD liquidity offering with the introduction of 61 new pairs, adding a whole new range of pairs including all major cryptocurrency to top most tradable national currencies.

The currencies include US Dollar, Euro, Japanese Yen, Pound Sterling, Australian Dollar, Canadian Dollar, New Zealand Dollar and Russian Ruble.

B2Broker was the first liquidity provider to launch 39 Crypto CFD pairs with a leverage of 1:5 and is now in the enviable position of offering a total of 100 pairs.

It also provides the most tradable crypto cross pairs, including BTC/XRP and BTC/ETH.

B2Broker is recognised as having been one of the first liquidity providers to provide CFD liquidity for institutional clients, offering the highest level of support available, with round-the clock trading for all 100 crypto pairs and support in English, Russian, Chinese, Arabic and Spanish.

Brokers can connect to the liquidity service quickly and easily, with bridges offered as part of the package to clients operating MT5 and MT4 trading platforms.

Clients with large trade sizes can trade easily with filling of execution taking place in just milliseconds.

-- BERNAMA

WENCOR ANNOUNCES EXCLUSIVE DISTRIBUTION PARTNERSHIP WITH KORRY ELECTRONICS

PEACHTREE CITY, Ga., Dec 4 (Bernama-GLOBE NEWSWIRE) -- Korry Electronics Co. has selected Wencor as their exclusive aftermarket distribution partner within Europe, Middle East, and the Americas effective immediately. Under the new agreement, Wencor will support the commercial and general aviation markets with Korry human-machine interface (HMI) solutions which includes switches, cockpit controls, displays and panels. 

“We are excited to build this new relationship,” said Chris Curtis, Wencor Chief Executive Officer. “As the aviation industry moves forward, Wencor remains committed to providing innovative solutions that enable aerospace reliability, availability and cost efficiency. Adding the Korry product line to our portfolio supports that objective. ”

Rob Gibbs, President of Korry, commented, “We are delighted to be partnering with Wencor for distribution of the Korry portfolio of parts.  With a worldwide network of stocking locations and strong partnerships with airlines and MRO shops, Wencor can add great value and improved service to our customers.“ Korry has been a trusted name in HMI solutions for more than 80 years.

Wencor will provide increased availability and customer intimacy as both companies work together on innovative solutions that deliver value and quality to customers in the ever changing aerospace market. 

About Wencor

Wencor has been a trusted partner in aerospace for over 60 years, offering CMM and DER repairs, PMA and an extensive network of distribution solutions to help make flights safer and more cost effective. We support most of the commercial airlines, repair stations and OEMs worldwide through our corporate affiliates Wencor, Soundair Aviation Services, PHS/MWA Aviation Services, Aerospace Coatings International, Flight Line Products, Accessory Technologies Corporation, Fortner Engineering & Manufacturing, Silver Wings, and Kitco Defense. Wencor Group is headquartered in the Atlanta, Georgia area with additional offices in Utah, Miami, Seattle, California, Alabama, New York, Amsterdam, Singapore, Beijing, Shanghai, and Istanbul. For more information, please visit www.wencorgroup.com.

About Korry

Korry has been a trusted name in human-machine interface (HMI) solutions for the Aerospace and Defense industry since 1937.  Korry provides leading edge Utility Control Systems, Touchscreen Controllers, Integrated Control Panels, Displays and Backlights, Data Concentrators, Pushbutton Switches and Indicators, Knobs and Night Vision Optical Filters.  Korry products are internationally known for their quality in design, manufacturing and service.  For more information about Korry, please visit www.korry.com.

Contact

416 Dividend Drive
Peachtree City, Georgia 30269 USA

Phone: 678.490.0140
Fax: 678.490.0142
www.wencorgroup.com

SOURCE: Wencor Group

--BERNAMA

OMERS appoints Blake Hutcheson as CEO, effective June next year

KUALA LUMPUR, Dec 13 -- Blake Hutcheson is the new OMERS’ chief executive officer (CEO), effective June 1, 2020, succeeding Michael Latimer, who will retire on May 31, next year.

In a statement, OMERS, one of Canada’s largest defined benefit pension plans, said the transition would commence in early January, consistent with OMERS succession plan, and remain seamless over the period.

Hutcheson is currently the president and chief pension officer of the company since April 2018.

He has helped transform the Pension Services area within the organisation, while carrying out responsibility for Strategy, Operations, Communications, Government Relations, Legal and Data & Technology.

Early this year, under his team’s leadership, OMERS approved a 2025 and 2030 Strategy, which will provide clear direction for the next five and 10-year period.

Hutcheson has been a highly successful CEO for over 20 years and has served on more than 25 Boards and Committees of both public and private entities.

Under Latimer’s leadership as CEO, OMERS assets have grown from US$65 billion to well over US$100 billion, growing over 50 per cent. (US$1 = RM4.14)

Over the same period, the organisation successfully deployed US$33 billion of capital as a result of its asset mix shift into private investment asset classes while expanding its global footprint and opening offices in Singapore, Sydney, Paris, Berlin, Boston and San Francisco.

-- BERNAMA