BEST'S MARKET SEGMENT REPORT: AM BEST MAINTAINS STABLE OUTLOOK ON CHINA'S NON-LIFE INSURANCE SEGMENT

 

HONG KONG, Nov 29 (Bernama-BUSINESS WIRE) -- AM Best is maintaining a stable outlook on China’s non-life insurance segment given the growth momentum in the motor and non-motor segments, as well as the domestic economic recovery following removal of pandemic-related restrictions, partially offset by a weaker 2024 economic outlook. The Best’s Market Segment Report, “Market Segment Outlook: China Non-Life Insurance,” also notes the industry’s solvency position remains robust, albeit with higher capital requirements under C-ROSS Phase II. The recent relaxation of C-ROSS solvency-related investment rules is expected to boost the non-life segment’s solvency position slightly. China’s non-life market posted a net profit of CNY 44.5 billion in the first nine months of 2023, down by CNY 7.4 billion from the same prior-year period. The drop in net profit was attributed to underwriting pressures and catastrophic events; the industry’s investment returns remain the main contributor to overall earnings. At the same time, total direct premiums written (DPW) rose by 7.3%, to CNY 1.2 trillion (USD 166.4 billion) in the first nine months of 2023. The motor segment has shown strong growth momentum, with premiums expanding by 5.8% in August and by 5.6% in September, compared with the same periods last year. Another significant trend is the exponential growth in electric vehicle sales, which has led to rising demand for motor insurance. “While insurers are looking to tap into the opportunities offered by the electric vehicle segment, it should be noted that repair and servicing costs are higher than that of gas-powered vehicles due to expensive parts and a shortage of qualified repair and maintenance technicians,” said Lucie Huang, senior financial analyst, AM Best. “Moreover, the lack of claims history, combined with differences among electric vehicle manufacturers, poses a challenge to accurate pricing and risk assessments.” According to the report, non-motor lines of business will likely be the main drivers of future premium growth. Smaller insurers have been looking to capture growth opportunities in the health insurance segment to meet the demand in supplementary medical protection not covered in the current social medical scheme. Additionally, agriculture insurance, which holds a DPW share of 10% for the first three quarters of 2023, has become increasingly important to the non-life industry as a risk mitigation tool against natural catastrophe events and price fluctuations. AM Best expects that non-motor lines will fuel development of China’s non-life market over the medium term. To access the full copy of this report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=338068. AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com. Copyright © 2023 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/20231128732253/en/ Contact Lucie Huang Senior Financial Analyst +852 827 3414 lucie.huang@ambest.com Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 christopher.sharkey@ambest.com James Chan Director, Analytics +852 827 3418 james.chan@ambest.com Cynthia Ang Senior Industry Research Analyst +65 6303 5026 cynthia.ang@ambest.com Christie Lee Senior Director, Analytics +852 827 3413 christie.lee@ambest.com Source : AM Best

VENTI TECHNOLOGIES FOUNDER & CEO BAGS 2023 WOMEN IN TECH GLOBAL START-UP AWARD

KUALA LUMPUR, Nov 28 (Bernama) -- Venti Technologies, a leader in autonomous vehicle logistics for the global supply chain and industrial and logistics yards announced its Founder & Chief Executive Officer (CEO), Dr Heidi Wyle has won the 2023 Women in Tech Global Start-Up Award.

“I am honoured to receive the Women in Tech Global Start-Up Award on behalf of Venti Technologies. This year has been significant for Venti as we have grown our company with new funding and progressed into operational deployments.

“This recognition is a testament to our amazing team at Venti. As we look to the new year, I am excited about Venti’s continued journey of growth, collaboration, and innovation,” said Dr Wyle in a statement.

She added that all the women nominated for this award have made extraordinary strides, and she is thrilled to be among such incredible and inspiring leaders.

Dr Wyle has served on the Boards of MIT, the Harvard Business School Alumni Association of Boston, and the Massachusetts Women’s Forum where she served as president.

Since Venti’s founding, she has successfully led the company through two funding rounds totalling US$37 million, and in the past year, has grown Venti from 18 employees to 103 as of June this year. (US$1=RM4.67)

The Women in Tech is a global non-profit organisation on a mission to empower five million women and girls in tech by 2030.

The Women in Tech Global Start-Up Award recognises a female-founded startup that has demonstrated exceptional innovation, growth potential and a positive impact on the tech industry, and awards were announced recently in a gala at the United Arab Emirates.

-- BERNAMA

AM BEST AFFIRMS CREDIT RATINGS AND ASSIGNS NATIONAL SCALE RATING TO PETROLIMEX INSURANCE CORPORATION

SINGAPORE, Nov 23 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Petrolimex Insurance Corporation (PJICO) (Vietnam). Additionally, AM Best has assigned the Vietnam National Scale Rating (NSR) of aaa.VN (Exceptional) to PJICO. The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect PJICO’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

PJICO’s balance sheet strength assessment is underpinned by its risk-adjusted capitalisation, which is expected to remain at the strongest level prospectively, as measured by Best’s Capital Adequacy Ratio (BCAR). The company’s BCAR decreased in 2022, albeit still remained at the strongest level, mainly attributed to higher capital requirements due to robust business growth and higher investment exposure. At the same time, PJICO’s capital and surplus reported a slight decrease as a result of substantial dividend payments. AM Best expects that future dividend payouts will be moderated over the medium term. The company maintains a conservative investment strategy, with a majority of its investments held in cash and term deposits. The company has a moderate reliance on reinsurance to support its underwriting capacity for large property and engineering risks, as well as to manage accumulation risks and catastrophe exposure.However, the credit risk associated with this dependence is mitigated partly by the good credit quality of the reinsurance panel.

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AIT WORLDWIDE LOGISTICS TO EXPAND GLOBAL REACH VIA LUBBERS LOGISTICS GROUP ACQUISITION

KUALA LUMPUR, Nov 20 (Bernama) -- Global supply chain solutions provider, AIT Worldwide Logistics, has entered into a binding purchase agreement to acquire Lubbers Logistics Group, a European logistics company specialising in high-value, complex, and time-sensitive transport services.

The purchase will serve as a significant milestone for AIT as the company continues to expand its global reach and enhance its offerings in road transportation, freight forwarding, and project cargo logistics, particularly in the energy sector.

AIT Chairman and Chief Executive Officer (CEO), Vaughn Moore said this deal will enhance the company’s position in Europe and bolster its presence in the energy sector, allowing it to better serve current customers while creating new opportunities.

“Lubbers’ customer-centric approach to business, as well as their reputation for excellent quality aligns perfectly with AIT’s culture,” he said in a statement.

Meanwhile, Lubbers CEO, Gary Roche said: “Joining forces with AIT Worldwide Logistics is a strategic move that will allow us to continue providing exceptional service to our clients while expanding our reach on a global scale.

“AIT's strong track record and commitment to customer service align with our values, and we look forward to a bright future together”.

AIT's acquisition of Lubbers is expected to be finalised by the end of this year and will be subject to obtaining customary regulatory approvals, however the terms have not been disclosed.

Once the acquisition is finalised, Lubbers' network will add 18 new offices to AIT’s existing global network of more than 125 locations, while expanding AIT’s footprint to four new countries, namely, Denmark, Norway, Romania and Turkey.

Kirkland & Ellis LLP and NautaDutilh N.V. are both serving as legal counsel to AIT on the acquisition. Meanwhile Nielen Schuman B.V. and Loyens & Loeff N.V. are serving as financial advisor and as legal counsel to Lubbers, respectively.

-- BERNAMA

Chartered Accountants Australia And New Zealand Revitalises Member Experience With Boomi

_{Chartered Accountants Australia and New Zealand Rearchitects Member Experience With Boomi (Graphic: Business Wire)} 

KUALA LUMPUR, Nov 16 (Bernama) -- Boomi, the intelligent connectivity and automation leader, announced Chartered Accountants Australia and New Zealand (CA ANZ) is using its platform to revitalise member digital experiences, streamlining skills assessment and building personalisation into a new member portal.

According to a statement, recognising its members’ desire for quality digital experiences, CA ANZ sought to create an information technology (IT) environment capable of supporting its transition to a data-driven member experience hub.

Boomi Director of Australia and New Zealand, Nathan Gower said: “By bringing together its technology assets with structure and rigour, CA ANZ has created an environment that’s ready and willing to serve up tailored experiences to the digital member. They want CA ANZ to know them, and the IT team is layering data and APIs to deliver just that.”

Meanwhile, CA ANZ Chief Information Officer, Kylie Fisher said members want to see value and relevance from their membership, which means tailored services and support should be available in a matter of clicks.

“Boomi has allowed us to rebuild and establish a layered architecture where APIs are reusable to support faster development and more personalised engagement,” she said.

The company replaced point-to-point integrations with the Boomi platform, including Boomi application programming interfaces (APIs) and API Management capabilities.

CA ANZ connected 15 business-critical systems, such as its Salesforce customer relationship management, Sitecore content management system, NetSuite financial management, and Snowflake data lake, alongside several other event and learning systems, which now enable Fisher’s team to do faster code drops and fixes at previously untenable speed.

With a connected environment and use of Flow, Boomi’s workflow automation solution, CA ANZ rearchitected its member portal to optimise service pathways. The new portal improves the membership renewal process, enhances search experience, expands control over the preference centre, and delivers more tailored content.

CA ANZ is currently laying the foundations for its incoming eStore, in which Master Data Hub, Boomi’s golden record solution, will serve up quality product management data, forming a consolidated product management layer, enabling the company to offer personalised product and service content.

-- BERNAMA

YESWEHACK LAUNCHES CONTINUOUS THREAT EXPOSURE MANAGEMENT PRODUCT THAT UNIFIES OFFENSIVE SECURITY TESTING

SINGAPORE, Nov 10 (Bernama-BUSINESS WIRE) -- YesWeHack has unveiled a powerful Attack Surface Management (ASM) product that enables clients to orchestrate their offensive security and vulnerability remediation strategy through a risk-based approach.

The new product continuously maps an organisation’s internet-exposed assets, detects their possible exposure to known vulnerabilities, and automatically prioritises those vulnerabilities (based on severity, exploitability and asset criticality).

Unlike standalone platforms, YesWeHack’s ASM integrates vulnerabilities from automated scanning (by the ASM) and YesWeHack’s Bug Bounty, Pentest Management and Vulnerability Disclosure Policy (VDP) products – creating a one-stop-shop for all vulnerabilities.

Amid tight security budgets, the ASM also automates and harmonises workflows to reduce costs, workloads and time-to-fix.

The five operational phases of Gartner’s Continuous Threat Exposure Management (CTEM) model are implemented: scope, discover, prioritise, validate, mobilise.

This enables a unified, comprehensive and risk-based approach to security testing and remediation of the most critical vulnerabilities at scale.

The turnkey-deployable ASM also introduces a design revamp to YesWeHack’s overall platform.

A rapid expansion of attack surfaces, increasingly complex tech stacks and rapid development cycles are fuelling an inexorable rise in vulnerabilities, often present in unknown assets. However, Gartner forecasts that CTEM programs could drive a two-thirds reduction in breaches.

Aïmad Berady, YesWeHack’s VP Product, comments: “With the time-to-exploit for new vulnerabilities plummeting, clearing the ‘fog of war’ surrounding the organisation’s information system and maintaining an up-to-date big picture is crucial. After all, knowing your enemy is useless if you don’t know your digital territory.” 

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INGREDION INCORPORATED REPORTS STRONG THIRD QUARTER RESULTS AND RAISES FULL-YEAR OUTLOOK

 · Third quarter 2023 reported and adjusted operating income* grew 17% and 15%, respectively, compared to PY

· Third quarter 2023 reported and adjusted EPS* were $2.36 and $2.33, an increase of 48% and 35%, respectively
· The Company raises its full year adjusted EPS outlook to $9.05-$9.45, up from $8.80-$9.40 

WESTCHESTER, Ill., Nov 8 (Bernama-GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to the food and beverage manufacturing industry, today reported results for the third quarter of 2023. The results, reported in accordance with U.S. generally accepted accounting principles (“GAAP”) for the third quarter of 2023 and 2022, include items that are excluded from the non-GAAP financial measures that the Company presents.

“We continued to successfully manage our business in the third quarter with our approach to product pricing and customer mix, while also driving operational excellence and productivity to mitigate the impact of cost inflation. This enabled us to deliver 15% adjusted operating income growth for the quarter,” said Jim Zallie, Ingredion’s president and chief executive officer.

“Our business continues to demonstrate resilience, evidenced by the diversity of our markets and product portfolio, and the strength of our business model. For example, our Food Systems business in Europe demonstrated mid-single-digit volume growth from greater penetration into private label. While lower corn costs around the globe contributed to lower net sales growth, we were encouraged by sequential quarterly improvement in sales volumes despite inventory rebalancing by customers that continued to work its way through the supply chain.”

“Our updated full-year guidance reflects our confidence to deliver revenue and profit growth above our four-year growth outlook. We continue to execute against our Driving Growth Roadmap creating long-term value for shareholders, and are committed to total shareholder return as evidenced by the increase in the dividend rate and shares repurchased during the quarter,” Zallie concluded.

^{*Adjusted diluted earnings per share (“adjusted EPS”), adjusted operating income and adjusted effective income tax rate are non-GAAP financial measures. See section II of the Supplemental Financial Information entitled “Non-GAAP Information” following the Condensed Consolidated Financial Statements included in this news release for a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures.} 

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QUANTEXA OPENS SINGAPORE OFFICE TO BROADEN ASIA PACIFIC EXPANSION

KUALA LUMPUR, Nov 8 (Bernama) -- Quantexa, the global leader in Decision Intelligence (DI) solutions for the public and private sectors, has opened its new Asia Pacific Headquarters based in Tower 1 of Marina Bay Financial Centre in Singapore.

The opening is part of a broader regional expansion plan and follows the July 2023 launch of Quantexa’s Japan operations in Tokyo and long-standing presence in Melbourne, Sydney and Malaysia, while further expansion into Hong Kong is expected in 2024.

“With today’s announcement of our new regional headquarters in Singapore, we continue to accelerate our growth plans and get closer to our clients and partners as we serve the region,” said Quantexa Chief Executive Officer and Founder, Vishal Marria.

According to Quantexa in a statement, the organisation’s decision to set up its regional headquarters in Singapore was solidified by the country’s commitment to attracting investment, talent, and technology.

Establishing Quantexa’s new office locally complements the government’s Smart Nation initiative which outlines its plan to invest up to SGD500 million in artificial intelligence (AI) research and development. (SGD1=RM3.44)

Quantexa’s regional headquarters will provide sales, marketing, product management, and professional services capabilities to support customer implementations of its DI Platform in the banking, insurance and telecommunications industries, as well as the public sector.

The opening comes after Quantexa recently completed its Series E Funding Round led by GIC Singapore, valuing the company north of US$1.8 billion, and announcing a US$155 million investment to fuel global AI advancements. (US$1=RM4.66)

The Singapore headquarters joins a growing portfolio of Quantexa hubs including London, Dublin, Brussels, Malaga, the United Arab Emirates, New York, Boston, Toronto, Sydney, Melbourne and Tokyo.

-- BERNAMA

TRILLIANT TO ACT AS ENLIT ASIA'S DIAMOND SPONSOR FOCUSING ENERGY TRANSITION

KUALA LUMPUR, Nov 9 (Bernama) -- Trilliant, an international provider of solutions for advanced metering infrastructure (AMI), smart grid, smart cities and Industrial Internet of Things (IIoT), will participate as Diamond Sponsor at Enlit Asia for the fifth consecutive year.

The conference will take place from Nov 14 to 16 at the Indonesia Convention Exhibition in Jakarta, according to Trilliant in a statement.

Trilliant Chairman and Chief Executive Officer (CEO), Andrew C. White will take part in the CEO Dialogue to kick off Enlit Asia 2023/Indonesian Electricity Day Opening Ceremony on Nov 14, and will also make opening remarks at a panel titled Balancing Energy Transition and Security for a Sustainable Future.

“Trilliant’s next generation network technologies along with our device-independent platform are key components to this growth, and we are proud to continue to support customers at every stage of their energy transition journey, ensuring the best possible outcomes.

“We look forward to meeting with energy leaders at the conference and charting a path to success for utilities, smart cities, businesses and other regional stakeholders,” White said.

Concurrently, Trilliant will be presenting at a Knowledge Hub session titled Grid Modernization: Priorities & Strategies for Utilities - AMI Case Study.

Meanwhile, on Nov 15, Trilliant Customer Solutions Director, Vincent Thankachan will join Electricity Generating Authority of Thailand (EGAT) and other industry members on a panel titled Unlocking The Full Potential Of AMI.

Enlit Asia is an annual conference and exhibition for the power and energy sector, showcasing expert knowledge, innovative solutions and foresight from industry leaders, aligned with ASEAN's strategy to achieve a smooth transition towards a low-carbon energy future.

-- BERNAMA

PHARMA LEADER DR. HOLGER ZIMMERMANN JOINS LYSANDO'S ADVISORY BOARD IN PIONEERING FIGHT AGAINST ANTIBIOTIC-RESISTANT BACTERIA

 

^{Dr. Holger Zimmermann – Advisory Board Member Lysando AG}


TRIESENBERG, Liechtenstein, Nov 8 (Bernama-BUSINESS WIRE) -- Lysando, a leading innovator in the fight against antibiotic-resistant bacteria, proudly announces the appointment of Dr. Holger Zimmermann to its Advisory Board. Dr. Zimmermann's distinguished career in the pharmaceutical sector and healthcare industry brings a wealth of experience, positioning him as a key asset in Lysando's mission to eliminate the fear of harmful bacteria worldwide.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231107814787/en/

 

Currently serving as the Chief Research and Development Officer at AiCuris AG, Dr. Zimmermann has been instrumental in bringing innovative healthcare products to market. His extensive background in human pharmaceutical pre-clinical and clinical research underscores the transformative potential he brings to Lysando.

Count Markus Matuschka de Greiffenclau, Chairman of the Board of Directors of Lysando, expresses his enthusiasm, stating, “We are delighted to welcome Dr. Holger Zimmermann to our Advisory Board. His profound experience in the pharmaceutical and healthcare sectors, coupled with a successful track record in product development, makes him a valuable addition to our team. Dr. Zimmermann's unique insights will play a pivotal role in guiding us toward our ultimate goal of bringing life-enhancing solutions to market.”

As a distinguished member of the Advisory Board, Dr. Zimmermann will contribute invaluable knowledge and strategic guidance, particularly in navigating the challenges of the pharmaceutical industry. Expressing his excitement to join Lysando, Dr. Holger Zimmermann states, “Lysando's Artilysin^® technology represents a powerful tool to combat antibiotic-resistant germs. Considering the accelerating spread of Antimicrobial Resistance, I am excited to be able to support Lysando's mission to develop innovative products against disease-causing bacteria.”

Lysando has been a driving force in innovation against antibiotic-resistant bacteria, pioneering the revolutionary Artilysin^® technology, that safeguards individuals from dangerous infections. The company's dedication to curbing the dissemination of Antimicrobial Resistance aligns seamlessly with Dr. Zimmermann's expertise and vision.

With numerous ongoing projects and a commitment to turning innovative ideas into high-performing products, Lysando continues to make significant strides in its mission to bring hope and health to people in need.

About Lysando AG

Lysando AG is the market leader for antimicrobial proteins, so‐called Artilysin^® molecules. They can effectively eliminate problem‐causing bacteria without associated high risk of resistance formation and microbial disbalances. Artilysin^® constitutes an innovative, proprietary, and environmentally friendly technology with a wide range of applications.

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Contact

Isabella Kattler
+41(0)7932 14884
Isabella.Kattler@lysando.com

Source : Lysando

POLYPLASTICS INTRODUCES LESS HEAT-RESISTANT PLASTICS FOR EV

KUALA LUMPUR, Nov 7 (Bernama) -- The Polyplastics Group, a leading global supplier of engineering thermoplastics, has introduced an approach of using its less heat-resistant plastics products for electric vehicle (EV) cooling components.

According to a statement, Polyplastics sees strong potential for less heat-resistant plastics such as polyoxymethylene (POM) and polypropylene (PP) for production and manufacturing of EV cooling components.

As the automotive industry moves from traditional combustion engine vehicles to battery electric vehicles (BEVs), original equipment manufacturers (OEMs) and parts manufacturers are reimagining the types of materials that can meet the thermal management needs of EVs.

The coolant in combustion engines is typically maintained at a temperature of 70 to 100 degrees celsius (ºC) but can climb to 120 ºC or higher if the engine overheats. Therefore, metals or highly heat-resistant plastics like polyphenylene sulphide (PPS) are used in cooling components and lines.

In comparison, EVs require a long-life coolant (LLC) temperature of 100 ºC or lower, allowing for the use of less heat-resistant materials for BEV-specific components.

When the temperature of an LLC is 100 ºC or lower, general-purpose engineering plastics like POM or PP can be used instead of metals or high-performance engineering plastics.

In the case of PP, Polyplastics sees potential for PP-LGF (long glass fibre) instead of short glass fibre to increase strength, dimensional accuracy, and overall performance.

Replacing highly heat-resistant plastics such as PPS with POM and PP not only reduces material costs but also helps with efforts to reduce carbon dioxide by reducing the carbon footprint of materials and energy consumption during moulding.

-- BERNAMA

MARKET SIMPLIFIED’S LOW-CODE APPLICATION PLATFORM BESPOKE TO APAC FINANCIAL SERVICES

KUALA LUMPUR, Nov 7 (Bernama) -- Market Simplified, a leader in advanced enterprise financial solutions has introduced Nitro XP, an innovative Low-Code Application Platform (LCAP), revolutionising financial services in the dynamic Asia Pacific (APAC) market.

According to Market Simplified in a statement, the official launch for APAC will be held during the Singapore Fintech Festival 2023 on Nov 15.

With 18 years of unparalleled expertise in financial applications, Nitro XP signifies the company’s dedication to addressing the intricate needs of the financial sector.

Launched successfully in India six months ago, Nitro XP has gained significant momentum, attracting prominent large enterprises as well as small and medium enterprises (SMEs) looking to develop lending and trading solutions on the platform.

The platform expedites application development for financial institutions, enhancing efficiency and reducing time-to-market. It is a valuable asset for businesses of all sizes, strengthening digital infrastructure, fostering innovation, and enhancing competitiveness.

Nitro XP also prioritises user experience, performance, security, and scalability, thus enabling the development of robust, adaptable applications that drive business growth.

Offering unparalleled benefits to financial institutions, the platform’s drag-and-drop visual interface empowers users to create tailored applications without complex coding, reducing development timelines and costs.

In addition, Nitro XP's library of pre-built components expedites commonly used financial applications, allowing enterprises to optimise resource allocation, and it adapts to the requirements of large financial institutions to ensure smooth operations.

A trailblazing provider of cutting-edge enterprise financial solutions, Market Simplified continues to provide the tools and solutions needed for success in the evolving financial landscape.

-- BERNAMA

AM Best Affirms KB Insurance Credit Ratings As Excellent

KUALA LUMPUR, Nov 3 (Bernama) -- Global credit rating agency, AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of South Korea’s KB Insurance Co Ltd (KBI).

In a statement, AM Best said the credit ratings (ratings) which have a stable outlook, reflected KBI’s balance sheet strength, was assessed as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

The ratings also reflect the support that the company receives from its parent, KB Financial Group Inc (KB Group) and its strategic importance to KB Group.

KBI’s risk-adjusted capitalisation has remained at a very strong level, as measured by Best’s Capital Adequacy Ratio, in which the company exhibited good accessibility to the capital market through the recent issuances of subordinated bonds.

Other balance sheet strength considerations include KBI’s relatively low debt leverage and healthy coverage ratios, as well as its conservative investment strategy.

AM Best assesses the company’s operating performance as adequate, with a weighted five-year average consolidated return-on-equity ratio of 9.0 per cent (2018-2022) and an operating ratio of 96.4 per cent.

Its underwriting profitability improved materially in 2022, mainly driven by favourable long-term line performance as a result of decreased medical indemnity loss ratio due to several rounds of rate hikes and stabilised medical claims.

In addition, KBI’s investment income continues to be a major source of earnings with a stable trend in its net investment returns.

As a wholly owned subsidiary of KB Group, one of the largest financial holding companies in South Korea, KBI remained the fourth-largest non-life insurer in South Korea with a stable market share of approximately 13 per cent, based on gross premiums written in 2022.

-- BERNAMA

NEW TRANSPORTATION MEANS AT TOMORROW.MOBILITY WORLD CONGRESS

KUALA LUMPUR, Nov 3 (Bernama) -- Fira de Barcelona and EIT Urban Mobility, an initiative of the European Institute of Innovation and Technology (EIT) and a body of the European Union will jointly organised Tomorrow.Mobility World Congress (TMWC) from Nov 7 to 9 in Barcelona, Spain.

Deemed an ultimate platform for sustainable and intelligent urban mobility, over 100 international experts will come together at the event, to address the crucial challenges the transportation sector is facing and share effective, proven solutions.

The conference programme is structured around eight themes, namely Data Spaces; Inclusivity, Affordability & Fairness; Connected, Cooperative & Automated Mobility; Sustainable Urban Logistics; Multimodality; Urban Air Mobility; Energy Transition; and Active Mobility, according to a statement.

TMWC will focus on some of the key topics, including strategies to support public transport as a crucial element to make cities more liveable and meet ambitious emission reduction targets, the creation of a shared mobility data space to deploy extensive multimodal travel, and overcoming the challenges to fully implement autonomous vehicles.

Among some 100 speakers are San Francisco MTA Chief Innovation Officer and X (Alphabet’s Moonshot Factory) advisor, Timothy Papandreou; Chair of the Committee on Transport and Tourism at the European Parliament,  Karima Delli; and Los Angeles Metropolitan Transportation Authority Chief Innovation Officer, Seleta Reynolds.

The congress will also feature an exhibition space where 130 companies including BSM, Deloitte, KIA, Moventis, PTV Group, PricewaterhouseCoopers, Racc, Renfe, and Sener will showcase their latest products.

TMWC will be held alongside Smart City Expo World Congress, Tomorrow.Building, Tomorrow.BlueEconomy, focusing on the opportunities of the blue economy, apart from PUZZLE X, in which all together the events will gather over 25,000 visitors, 1,000 exhibitors, over 800 cities and more than 600 speakers in Barcelona.

-- BERNAMA

BOLT.EARTH AND TAIZHOU CHINV SCIENCE AND TECHNOLOGY DEVELOPMENT CO., LTD STRENGTHEN LONG-STANDING PARTNERSHIP TO REVOLUTIONIZE ELECTRIC VEHICLE ECOSYSTEM

^{Driving Innovation: Bolt.Earth and Chinv Redefine the Future of Electric Mobility at EICMA 2023 (Graphic: Business Wire)}


Drive Smart. Ride Connected. The Future of E-Mobility is Unfolding

SINGAPORE, Nov 3 (Bernama-BUSINESS WIRE) -- Bolt.Earth, a Singapore-based pioneer in the connected EV Operating System market, further strengthens its partnership with Chinv, the renowned designer and manufacturer of EV 2-wheeler bikes. Together, they are set to redefine the future of electric mobility at this year’s EICMA 2023 at Fiera Milano-Rho Milan. Witness the synergy of Chinv’s design mastery and Bolt.Earth’s smart operating stack, merging years of collaborative effort to produce an EV experience like no other.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231101137680/en/

 

Building on their longstanding collaboration, the unveiling of the new Bolt.Earth Blaze at EICMA 2023 is anticipated to mark a pivotal moment in the global EV landscape. Bolt.Earth Blaze is a fast-charging platform conceived to redefine the EV charging paradigm. This innovation significantly trims charging durations, making electric mobility more expedient and accessible.

Jyotiranjan Harichandan, Co-Founder at Bolt.Earth, remarked, “Our journey with Chinv has been truly transformative. This partnership, built on a mutual vision and relentless innovation, is about redefining sustainable transport. Chinv’s exceptional experience in hardware design & development, combined with our charging and vehicle operating stack, is laying the groundwork for the future.”

The convergence of Bolt.Earth’s advanced software solutions and Chinv’s hardware design and development expertise signals a transformative phase for sustainable transportation. This venture aims to elevate electric vehicles, ensuring they are environmentally responsible and technologically superior.

Ms. Xu Duo (Rita), President of Chinv expressed, “Our alliance with Bolt.Earth represents a bold step towards a smarter, more sustainable horizon. The potential to revolutionize the EV sphere is immense, and together, we are poised to lead this change.”

Join us at EICMA 2023, held from November 7th to November 12th at Fiera Milano-Rho Milan, where Bolt.Earth will be showcasing their latest offerings at booth number C-49 in Hall Number 14, in association with Chinv along with an amazing virtual reality experience.

About Chinv

Chinv, founded in Hong Kong in 2006, operates under multiple brands, including "OKLA" for electric vehicles, "Motrac" for gasoline vehicles, "O-Town" for clothing, "OKLATEC" for R&D and "CHINV" for lights and electric parts; redefining the way we move and setting new standards for eco-friendly mobility, with a vision to drive positive change and a goal to develop cleaner and more efficient transportation solutions.

OKLATEC has R&D experience in designing over 50 motorcycles, ranging (from ICE to EV), for customers worldwide. Building on these milestones, Chinv has been successful in supporting the launch of multiple brands at various integration levels for both electrical and mechanical aspects, covering a wide range from low-speed to high-performance EV motorcycles. As a result, Chinv has become a one-stop solution in the EV motorcycle supply chain.

About Bolt.Earth

Bolt.Earth is on a mission to push emerging markets toward cleaner mobility. The company deploys state-of-the-art embedded smart speedometer clusters that redefine your EV riding experiences. Designed for safety and convenience, Bolt.Earth's speedometer clusters and display units use Bolt.Earth’s OS to provide vehicle management tools, crucial data, anti-theft precautions, and customization options for a smart, connected & modern riding experience. Additionally, Bolt.Earth enables India's largest peer-to-peer EV charging network, with 30,000+ charging points across 1,100 cities. They offer charging solutions for individuals, businesses, real estate companies, fleet operators, and the government. For more information about their solutions, visit bolt.earth.

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Contact

Media Contact: marketing@bolt.earth

Source : Bolt.Earth

RESOLIAN ACQUIRES CHINA-BASED BIOANALYTICAL CRO DENALI MEDPHARMA

 

MALVERN, Pa. & CHONGQING, China, Nov 2 (Bernama-BUSINESS WIRE) -- Resolian, a global bioanalytical contract research organization (CRO) specializing in drug metabolism and pharmacokinetics for small and large molecules, has acquired Denali Medpharma, a leading China-based bioanalytical CRO. Resolian now has bioanalysis laboratory operations in the U.S., U.K., Australia, and China. The company can initiate a project on four continents and easily transfer validated methods across labs, allowing therapeutic trials to extend to virtually any destination without changing bioanalytical CROs. “The strategic addition of Denali will significantly enhance our capabilities and strengthen our position in the global market,” said Resolian CEO Patrick Bennett. “Denali’s founders and core scientists are internationally recognized across pharmaceutical research and development analysis and we are particularly excited to add Denali’s oligo, mRNA, and liposomal expertise to Resolian’s portfolio of services. We look forward to leveraging our growing company’s strengths to continue driving innovation and creating lasting value for our clients and stakeholders.” “The Denali team is thrilled to join Resolian,” said Denali CEO Min Meng, Ph.D. “Denali was founded by a group of U.S.-trained bioanalytical experts in a state-of-the-art lab facility in China to provide exceptional service for domestic and international clients. We look forward to continuing this track record and offering even greater capabilities and trial flexibility as part of Resolian.” About Resolian Resolian (formerly Alliance Pharma Inc. and Drug Development Solutions Ltd.) is a leading global research laboratory that provides specialized services in GxP and nonregulated bioanalysis, drug metabolism/pharmacokinetics (DMPK), and GMP CMC analytical and materials science. Over 500 experts across the U.S., U.K., China, and Australia deliver quality results, ensuring the highest standard of regulatory compliance throughout the drug development continuum. Resolian’s dedicated laboratories are equipped with state-of-the-art technology that meet the needs of preclinical and clinical programs at any scale. About Denali Medpharma Denali is a China based bioanalytical CRO, now part of Resolian Bioanalytics. With 70 full-time employees, its core leadership have extensive working experience in the U.S. and China CRO industry. It is equipped with the world’s most advanced instruments. Denali’s quality assurance system is established in strict accordance with domestic and foreign laws and regulations related to bioanalysis. Denali is well known as the industry leader in China in the bioanalysis of oligonucleotide drugs and mRNA vaccines (PK/PD and ADA), liposomal drug (free and encapsulated drug), ultra-sensitive assays for inhalation drugs, and biomarker assays, etc. View source version on businesswire.com:  https://www.businesswire.com/news/home/20231101490232/en/ Contact Lindsey Langemeier SCORR Marketing +1 402-405-4269 lindsey@scorrmarketing.com Source : Resolian

MHTC COMMITS TO PROVIDE BREAST CANCER EARLY DETECTION ACCESSIBLE FOR EVERYONE

KUALA LUMPUR, Nov 1 (Bernama) -- Malaysia Healthcare Travel Council (MHTC), a government agency under the Ministry of Health Malaysia is encouraging global citizens to practice regular examinations and screenings as a crucial step in preventing breast cancer.

With healthcare facilities that are equipped with innovative screening procedures, MHTC in a statement said it is committed to making breast cancer early detection accessible for global citizens.

In conjunction with the breast cancer awareness month, the government agency shed light on the significance of early diagnosis as well as the cutting-edge screening procedures provided by several of its healthcare facilities.

“Individuals should be cautious about any lump in the breast or underarm (armpit), thickening or swelling on any part of the breast, skin irritation or dimpling, redness or flakiness around the nipple area or the breast, nipple inversion, pain in the nipple area, unusual nipple discharge that may include blood.

“Changes in breast size or shape and unexplained breast pain should also be regarded as warning signs,” said KPJ Perdana Specialist Hospital Consultant Radiologist, Dr Nik Munirah Nik Mahdi.

Meanwhile, Sunway Medical Centre in Sunway City Consultant Breast and Endocrine Surgeon, Dr Normayah Kitan said: “Doing regular breast self-examination is crucial to help you be aware of how your breasts normally look and feel, as well as detect symptoms such as lumps, pain, or abnormal changes in size.

“In addition to this, a clinical breast examination and screening every year should be done even if you do not detect any abnormalities, as breast cancer often does not present any symptoms at its earliest, which is the most treatable stage.”

Since its first cancer treatment centre was established in 1981, Malaysia has achieved international recognition for its quality of care and recently proclaimed as second in the care and delivery of cancer treatment in the Asia Pacific and the third-most prepared country overall by the Economist Intelligence Unit.

With a vast range of oncology services that include ground-breaking imaging and cancer detection technologies on offer, MHTC is moving forward steadily as the Cancer Care Centre of Excellence.

This is further reinforced by the country's excellent healthcare system, which makes it easier for healthcare travellers to obtain comprehensive cancer care promptly in a safe and trusted destination.

-- BERNAMA