HONG KONG, Jan 28 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa-” of Meiji Yasuda Life Insurance Company (Meiji Yasuda) (Japan). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect Meiji Yasuda’s balance sheet strength, which AM Best categorizes as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
Meiji Yasuda’s balance sheet strength assessment mainly reflects its risk-adjusted capitalization being at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). This assessment also is supported by a large adjusted capital base, which consists of reported capital, contingency reserves and price fluctuation reserves, as well as some equity credit for subordinated debt. In addition, while balance sheet debt has grown, the company’s financial leverage ratios remain conservative, with adjusted debt leverage ratios generally under 25%.
Meiji Yasuda’s operating performance also has remained consistently positive, generating ordinary profits in excess of JPY 300 billion per annum on a consolidated basis in each of the last five years (fiscal-year ended from 2014-2018). Additionally, its key operating metrics, which include operating return on assets, also have been relatively stable, owing largely to the large mortality and morbidity gains from Meiji Yasuda’s in-force portfolio, as well as stable net investment yields of approximately 2% over the five-year period.
Meiji Yasuda is a leading life insurance company in terms of premium income in Japan’s life insurance market. The company also has maintained a leading position in the group insurance market with the largest market share over a long period. More recently, the company has started to diversify its business by expanding overseas, though its geographic diversification remains modest for now.
The stable outlooks reflect AM Best’s expectation that Meiji Yasuda will maintain strong and consistent operating performance, supported by an in-force book that AM Best expects to generate favorable returns on embedded value and a stable economic solvency ratio over the medium and long term.
Negative rating actions could occur if there is material deterioration in its risk-adjusted capitalization due to substantial investment losses, or if Meiji Yasuda experiences sustained deterioration in its operating performance.
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 Understanding 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 rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.
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/20190125005357/en/
Contact
Jason Shum
Associate Director, Analytics
+852 2827 3423
jason.shum@ambest.com
Christie Lee
Director, Analytics
+852 2827 3413
christie.lee@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
Monday, 28 January 2019
Friday, 25 January 2019
MARY KAY INC. ANNOUNCES TWO EXECUTIVE APPOINTMENTS IN SUPPLY CHAIN OPERATIONS
Global Beauty Brand Appoints Chaun Harper and Dr. Lucy Gildea to Executive Team
DALLAS, Jan 25 (Bernama-BUSINESS WIRE) -- Mary Kay Inc., celebrating its 55th anniversary as a top beauty brand and direct seller in nearly 40 markets, announces the appointments of Chaun Harper as Senior Vice President – Chief Manufacturing Officer and Dr. Lucy Gildea as Senior Vice President – Chief Scientific Officer. In their new roles, Harper and Gildea will join the global cosmetics company’s executive team.
This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20190124005055/en/
As Senior Vice President – Chief Manufacturing Officer, Chaun Harper will assume responsibility for global manufacturing operations, global inventory control, supply planning, transportation and global quality. Harper joined Mary Kay Inc. in 2014 as Director of Production Operations. During his tenure, Harper has been instrumental in creating a culture of continuous improvement at Mary Kay’s manufacturing facility including dramatically increasing production efficiency and implementing key development opportunities for employees to elevate technical skills and advance their careers. Prior to joining the iconic beauty company, Harper worked for L’Oréal where he held several positions within both the operations and quality functions.
As Senior Vice President – Chief Scientific Officer, Dr. Lucy Gildea will continue to lead Mary Kay Inc.’s research and development operations. Since joining the iconic beauty company in 2017, Dr. Gildea has worked to execute the company’s global product strategy and innovation pipeline. With a global portfolio of more than 1,400 patents for products, technologies and packaging systems, Mary Kay has fostered a culture of innovation and invests millions of dollars annually in research and development. Dr. Gildea will be key in leading the company innovatively into the next generation. Prior to joining Mary Kay Inc., Dr. Gildea spent 15 years at Procter and Gamble, working in health care, oral care, beauty technology and beauty/skin development.
“In a relatively short period of time, both Chaun and Lucy have made significant contributions and proven to be instrumental in Mary Kay’s research, development, and supply chain operations,” said Deborah Gibbins, Chief Operating Officer for Mary Kay Inc. “In their new roles as members of the company’s executive team, Chaun and Lucy will work to ensure global and regional alignment of strategy and plans for Mary Kay® products. As one of the top innovators in the direct selling and cosmetic industries, Mary Kay is a cosmetics powerhouse with more than 700 products in our global portfolio. As we continue to produce best-in-the-industry products, we are proud to appoint Chaun and Lucy to these executive positions knowing their leadership and expertise will be invaluable as we build on our efforts to enrich women’s lives worldwide.”
Harper earned a Bachelor of Science in Chemistry from Arkansas Tech University in Russellville, Ark. and a Master of Business Administration from Webster University in St. Louis, Mo. Dr. Gildea earned a Bachelor of Science in Biology from Georgetown College in Georgetown, Ky. and a PhD in Cell and Molecular Biology, Immunology and Infectious Diseases from the University of Cincinnati.
About Mary Kay
At Mary Kay, success lies in our dedication to irresistible products, a rewarding opportunity and positive community impact. For 55 years, Mary Kay has inspired women to achieve their entrepreneurial goals in nearly 40 countries. As a multibillion-dollar company, we offer the latest in cutting-edge skin care, bold color cosmetics and fragrances. Discover more reasons to love Mary Kay at www.marykay.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190124005055/en/
Contact
Mary Kay Inc. Corporate Communications
marykay.com/newsroom
972.687.5332 or media@mkcorp.com
Source : Mary Kay
--BERNAMA
DALLAS, Jan 25 (Bernama-BUSINESS WIRE) -- Mary Kay Inc., celebrating its 55th anniversary as a top beauty brand and direct seller in nearly 40 markets, announces the appointments of Chaun Harper as Senior Vice President – Chief Manufacturing Officer and Dr. Lucy Gildea as Senior Vice President – Chief Scientific Officer. In their new roles, Harper and Gildea will join the global cosmetics company’s executive team.
This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20190124005055/en/
As Senior Vice President – Chief Manufacturing Officer, Chaun Harper will assume responsibility for global manufacturing operations, global inventory control, supply planning, transportation and global quality. Harper joined Mary Kay Inc. in 2014 as Director of Production Operations. During his tenure, Harper has been instrumental in creating a culture of continuous improvement at Mary Kay’s manufacturing facility including dramatically increasing production efficiency and implementing key development opportunities for employees to elevate technical skills and advance their careers. Prior to joining the iconic beauty company, Harper worked for L’Oréal where he held several positions within both the operations and quality functions.
As Senior Vice President – Chief Scientific Officer, Dr. Lucy Gildea will continue to lead Mary Kay Inc.’s research and development operations. Since joining the iconic beauty company in 2017, Dr. Gildea has worked to execute the company’s global product strategy and innovation pipeline. With a global portfolio of more than 1,400 patents for products, technologies and packaging systems, Mary Kay has fostered a culture of innovation and invests millions of dollars annually in research and development. Dr. Gildea will be key in leading the company innovatively into the next generation. Prior to joining Mary Kay Inc., Dr. Gildea spent 15 years at Procter and Gamble, working in health care, oral care, beauty technology and beauty/skin development.
“In a relatively short period of time, both Chaun and Lucy have made significant contributions and proven to be instrumental in Mary Kay’s research, development, and supply chain operations,” said Deborah Gibbins, Chief Operating Officer for Mary Kay Inc. “In their new roles as members of the company’s executive team, Chaun and Lucy will work to ensure global and regional alignment of strategy and plans for Mary Kay® products. As one of the top innovators in the direct selling and cosmetic industries, Mary Kay is a cosmetics powerhouse with more than 700 products in our global portfolio. As we continue to produce best-in-the-industry products, we are proud to appoint Chaun and Lucy to these executive positions knowing their leadership and expertise will be invaluable as we build on our efforts to enrich women’s lives worldwide.”
Harper earned a Bachelor of Science in Chemistry from Arkansas Tech University in Russellville, Ark. and a Master of Business Administration from Webster University in St. Louis, Mo. Dr. Gildea earned a Bachelor of Science in Biology from Georgetown College in Georgetown, Ky. and a PhD in Cell and Molecular Biology, Immunology and Infectious Diseases from the University of Cincinnati.
About Mary Kay
At Mary Kay, success lies in our dedication to irresistible products, a rewarding opportunity and positive community impact. For 55 years, Mary Kay has inspired women to achieve their entrepreneurial goals in nearly 40 countries. As a multibillion-dollar company, we offer the latest in cutting-edge skin care, bold color cosmetics and fragrances. Discover more reasons to love Mary Kay at www.marykay.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190124005055/en/
Contact
Mary Kay Inc. Corporate Communications
marykay.com/newsroom
972.687.5332 or media@mkcorp.com
Source : Mary Kay
--BERNAMA
AM BEST AFFIRMS CREDIT RATINGS OF THE DAI-ICHI LIFE INSURANCE COMPANY, LIMITED
HONG KONG, Jan 25 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa-” of The Dai-ichi Life Insurance Company, Limited (DL) (Japan). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect DL’s balance sheet strength, which AM Best categorizes as very strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
DL’s balance sheet strength is due in part to its risk-adjusted capitalization being at the strongest level, as measured by Best’s Capital Adequacy Ratio. In addition, financial leverage ratios at its holding company remain conservative, with adjusted debt leverage ratios generally under 25% on a consolidated basis.
DL’s operating performance over the most-recent five-year period consistently have been positive, generating ordinary profits in excess of JPY 250 billion per annum. Additionally, its key operating metrics, which include operating return on assets, also have been relatively stable, owing largely to the large mortality and morbidity gains from DL’s in-force portfolio, as well as stable net investment yields of approximately 2% over the five-year period.
DL is a wholly owned subsidiary of Dai-ichi Life Holdings, Inc., which is one of Japan’s largest life insurance groups in terms of premium income. Through its several insurance subsidiaries, the group maintains a strong competitive market position in Japan. The group also has a growing book of overseas insurance business, which accounts for approximately 40% of its premium revenue.
The stable outlooks reflect AM Best’s expectation that DL will maintain strong and consistent operating performance, supported by an in-force book that is expected to generate favorable returns on embedded value and a stable economic solvency ratio over the medium and long term.
Negative rating actions could occur if there is material deterioration in DL’s risk-adjusted capitalization or sustained deterioration in the company’s operating performance. Additionally, the ratings could be downgraded if a material deterioration in the credit profile of its ultimate parent occurs.
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 Understanding 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 rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.
http://mrem.bernama.com/viewsm.php?idm=33687
The ratings reflect DL’s balance sheet strength, which AM Best categorizes as very strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
DL’s balance sheet strength is due in part to its risk-adjusted capitalization being at the strongest level, as measured by Best’s Capital Adequacy Ratio. In addition, financial leverage ratios at its holding company remain conservative, with adjusted debt leverage ratios generally under 25% on a consolidated basis.
DL’s operating performance over the most-recent five-year period consistently have been positive, generating ordinary profits in excess of JPY 250 billion per annum. Additionally, its key operating metrics, which include operating return on assets, also have been relatively stable, owing largely to the large mortality and morbidity gains from DL’s in-force portfolio, as well as stable net investment yields of approximately 2% over the five-year period.
DL is a wholly owned subsidiary of Dai-ichi Life Holdings, Inc., which is one of Japan’s largest life insurance groups in terms of premium income. Through its several insurance subsidiaries, the group maintains a strong competitive market position in Japan. The group also has a growing book of overseas insurance business, which accounts for approximately 40% of its premium revenue.
The stable outlooks reflect AM Best’s expectation that DL will maintain strong and consistent operating performance, supported by an in-force book that is expected to generate favorable returns on embedded value and a stable economic solvency ratio over the medium and long term.
Negative rating actions could occur if there is material deterioration in DL’s risk-adjusted capitalization or sustained deterioration in the company’s operating performance. Additionally, the ratings could be downgraded if a material deterioration in the credit profile of its ultimate parent occurs.
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 Understanding 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 rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.
http://mrem.bernama.com/viewsm.php?idm=33687
UNITED SIKHS initiates Temporary National Assistance Program
KUALA LUMPUR, Jan 25 (Bernama) -- UNITED SIKHS has initiated a Temporary National Assistance Program (TNAP) to help federal employees impacted by the government shutdown.
In a statement, the global humanitarian charity requested for elected officials to end the shutdown as Americans of various race, creed and gender are being adversely impacted by the situation.
UNITED SIKHS also announced that its partners – comprising Sikh Gurdwaras, restaurant owners, community centres and other interfaith groups – will provide the temporary aid in the form of food items and emergency supplies as available and as needed.
-- BERNAMA
Thursday, 24 January 2019
BroadBand Tower chooses Juniper Networks for 5G data centre
KUALA LUMPUR, Jan 24 (Bernama) – Japan’s BroadBand Tower has picked Juniper Networks to provide the network architecture for its “Next-Gen 5G data center” in the central Tokyo district of Otemachi.
With this in place, BroadBand Tower will be able to offer data centre services that accommodate the emerging 5G needs of their customers, including the demands for high-volume traffic and speed from major telcos, enterprises and OTTs, all while ensuring consistent high-speed connectivity to the end-user.
Juniper’s MX204 Universal Routing Platform was selected for its ultra-high density and throughout to enable high-speed and uninterrupted network access, while the QFX5200 and QFX5110 Ethernet Switches were deployed to achieve optimal versatility, operability and stability across the network to meet exponentially growing internet traffic and data volume.
“We are pleased to have worked with Juniper Networks right from the start of the network design phase all the way through to implementation,” said BroadBand Tower technical design department system design group and network design group director, Akihiro Mizuochi, in a statement today.
“Through the team’s dedication and commitment, we were able to successfully deploy a network that fit our specifications – one that was operationally simple, fault-tolerant and cost effective,” he added.
“This next-generation communications infrastructure that we’ve developed alongside BroadBand Tower will contribute significantly to the future of Japan’s businesses as they continue to advance into the 5G era,” said Juniper Networks Japan country manager, Tomohiro Furuya.
With the new 5G data centre located in the heart of Japan’s financial and technology hub, BroadBand Tower plans to partner with other data operators housed in the same district to expand its services in the near future.
For more information, visit https://www.juniper.net.
-- BERNAMA
With this in place, BroadBand Tower will be able to offer data centre services that accommodate the emerging 5G needs of their customers, including the demands for high-volume traffic and speed from major telcos, enterprises and OTTs, all while ensuring consistent high-speed connectivity to the end-user.
Juniper’s MX204 Universal Routing Platform was selected for its ultra-high density and throughout to enable high-speed and uninterrupted network access, while the QFX5200 and QFX5110 Ethernet Switches were deployed to achieve optimal versatility, operability and stability across the network to meet exponentially growing internet traffic and data volume.
“We are pleased to have worked with Juniper Networks right from the start of the network design phase all the way through to implementation,” said BroadBand Tower technical design department system design group and network design group director, Akihiro Mizuochi, in a statement today.
“Through the team’s dedication and commitment, we were able to successfully deploy a network that fit our specifications – one that was operationally simple, fault-tolerant and cost effective,” he added.
“This next-generation communications infrastructure that we’ve developed alongside BroadBand Tower will contribute significantly to the future of Japan’s businesses as they continue to advance into the 5G era,” said Juniper Networks Japan country manager, Tomohiro Furuya.
With the new 5G data centre located in the heart of Japan’s financial and technology hub, BroadBand Tower plans to partner with other data operators housed in the same district to expand its services in the near future.
For more information, visit https://www.juniper.net.
-- BERNAMA
SolarWinds heads for Cisco Live!
KUALA LUMPUR, Jan 23 (Bernama) -- SolarWinds has announced it will be participating in Cisco Live! EMEA (Europe, the Middle East and Africa) from Jan 28 to Feb 1, in Barcelona, Spain.
The leading provider of powerful and affordable IT management software will exhibit its latest network management portfolio updates designed to provide deeper visibility into network environments.
“We’re looking forward to showing how the SolarWinds Orion Platform can provide a fully-integrated set of capabilities with a single pane of glass which is designed to deliver deep insight into the health and performance of applications and infrastructure,” said SolarWinds EMEA sales group vice president, Ludovic Neveu.
SolarWinds head geeks, Patrick Hubbard and Sascha Giese, will be among the technical experts at booth S20A who will demonstrate how the latest SolarWinds network management portfolio updates are designed to be deployed easily and rapidly, with an improved and centrally-managed upgrade process.
Over 275,000 customers worldwide use SolarWinds IT management software, which enables IT professionals to identify and address a complete range of IT infrastructure performance issues.
For more information, visit https://www.solarwinds.com.
-- BERNAMA
The leading provider of powerful and affordable IT management software will exhibit its latest network management portfolio updates designed to provide deeper visibility into network environments.
“We’re looking forward to showing how the SolarWinds Orion Platform can provide a fully-integrated set of capabilities with a single pane of glass which is designed to deliver deep insight into the health and performance of applications and infrastructure,” said SolarWinds EMEA sales group vice president, Ludovic Neveu.
SolarWinds head geeks, Patrick Hubbard and Sascha Giese, will be among the technical experts at booth S20A who will demonstrate how the latest SolarWinds network management portfolio updates are designed to be deployed easily and rapidly, with an improved and centrally-managed upgrade process.
Over 275,000 customers worldwide use SolarWinds IT management software, which enables IT professionals to identify and address a complete range of IT infrastructure performance issues.
For more information, visit https://www.solarwinds.com.
-- BERNAMA
Toshiba expands lineup for automotive and industrial applications
KUALA LUMPUR, Jan 22 (Bernama) -- Toshiba Electronic Devices & Storage Corporation (Toshiba) has expanded its lineup of automotive Ethernet bridge ICs with the new ‘TC9562 series’.
Sample shipments will start in February while volume production will start in October, a statement said.
The series include TC9562AXBG, which offers more interfaces than Toshiba’s current bridge ICs; TC9562BXBG which supports Ethernet TSN and Ethernet AVB; and TC9562XBG, which offers simpler IC configuration than current products.
More and more road vehicles have on-board connectivity, equipping them with internet and cellular access, and allowing information to be shared among on-board systems and devices and with external systems and services.
These developments require more complex automotive communication systems supported by reliable transmission standards with real-time data delivery. The Ethernet TSN standard was developed expressly to meet these needs.
In addition, the Ethernet AVB specification offers real-time reliable data transmission and is increasingly used in vehicles.
Toshiba is among the leading general devices companies, offering customers and business partners outstanding solutions in discrete semiconductors, system LSIs and HDD. More details at http://toshiba.semicon-storage.com.
-- BERNAMA
Subscribe to:
Posts (Atom)