HONG KONG, July 28 (Bernama-BUSINESS WIRE) -- AM Best has commented that the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” of Zhongyuan Agricultural Insurance Co., Ltd. (ZYIC) (China) remain unchanged following the heavy rains that have flooded the province of Henan since 19 July 2021. This extreme weather disaster, which has affected the central and northern part of the province most severely, has broken meteorological records that stood for the past few decades.
ZYIC is a professional agricultural insurer incorporated in Henan province. Its underwriting book contains over 60% crop and livestock insurance, while other lines of business include motor, property, liability, accident and health. Based on the latest information provided by ZYIC, AM Best sees no imminent pressure to the company’s credit fundamentals. However, it is still too early to measure the full extent of the damages and losses derived from this weather-related event as the rescue work is still underway and claims reporting will take time. AM Best does have concern regarding the uncertainty over how ZYIC’s total incurred claims may develop, especially relating to its agricultural, motor and property lines of business, given the company’s concentrated net exposure to natural catastrophe risk in Henan.
AM Best will continue to monitor the development of the event and hold discussions with ZYIC’s management to assess the subsequent implications for its balance sheet strength and 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 Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
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 © 2021 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/20210727005747/en/
Contact
June Wang
Associate Financial Analyst
+852 2827 3416
june.wang@ambest.com
James Chan
Associate Director
+852 2827 3418
james.chan@ambest.com
Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com
Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
james.peavy@ambest.com
Source : AM Best
--BERNAMA
Saturday, 31 July 2021
AM BEST COMMENTS ON CREDIT RATINGS OF ZHONGYUAN AGRICULTURAL INSURANCE CO., LTD. FOLLOWING SEVERE RAINFALL IN HENAN PROVINCE
Saturday, 24 July 2021
LEADER IN ANTI-FINANCIAL CRIME COMPLIANCE, NAPIER, EXPANDS GLOBAL FOOTPRINT WITH NEW UAE BASE
DUBAI, United Arab Emirates, July 21 (Bernama-BUSINESS WIRE) -- Napier, provider of advanced anti-financial crime compliance solutions, has announced it has extended its global footprint by opening a new office at Dubai International Financial Centre (DIFC), the global financial centre and leading FinTech hub in the MEASA region.
Strategically located between East and West, DIFC is recognized as the leading financial center in the Middle East, Africa and South Asia (MEASA). Located in the recently inaugurated Innovation Hub, part of the Dubai Future District, Napier’s new UAE base puts the RegTech provider at the center of the region’s largest collection of financial services companies.
Salmaan Jaffery, Chief Business Development Officer at DIFC Authority, said: “The world’s leading financial and FinTech institutions are based at DIFC and we are delighted to welcome Napier into the fold. Our new Innovation Hub is the region’s largest and most comprehensive innovation ecosystem and provides FinTechs at all stages of their evolution with unparalleled access to a community of like-minded entrepreneurs, experts and technology innovators such as Napier.
“We want to connect a wide range of large and small financial institutions and technology companies and create strong partnerships that will drive global innovation in the financial sector.”
Napier already works on AI-led anti-financial crime solutions with many organizations across MEASA, including Saudi Arabian Monetary Agency, Central Bank of UAE and directly with DIFC. The new UAE base forms part of a wider global strategy that sees the RegTech now established in all key financial hubs across the world, working with firms on KYC, AML and trade compliance.
Greg Watson, Chief Operating Officer at Napier, said: “DIFC is recognized internationally as a leading global center for FinTech and building a presence here will enable us to better serve our clients operating both locally and in international markets. Innovations in technologies to improve financial compliance are a key part of the huge ambition that we see across the UAE as it strengthens its position as a modern global financial hub, so it’s very important for us to be here.”
Headquartered in London, Napier works with international customers and has a presence in North America, Australia and Dubai, while its foothold in APAC was also strengthened recently with key senior hires from the industry and the addition of new offices in Singapore and Kuala Lumpur.
Salmaan Jaffery, Chief Business Development Officer at DIFC Authority, said: “The world’s leading financial and FinTech institutions are based at DIFC and we are delighted to welcome Napier into the fold. Our new Innovation Hub is the region’s largest and most comprehensive innovation ecosystem and provides FinTechs at all stages of their evolution with unparalleled access to a community of like-minded entrepreneurs, experts and technology innovators such as Napier.
“We want to connect a wide range of large and small financial institutions and technology companies and create strong partnerships that will drive global innovation in the financial sector.”
Napier already works on AI-led anti-financial crime solutions with many organizations across MEASA, including Saudi Arabian Monetary Agency, Central Bank of UAE and directly with DIFC. The new UAE base forms part of a wider global strategy that sees the RegTech now established in all key financial hubs across the world, working with firms on KYC, AML and trade compliance.
Greg Watson, Chief Operating Officer at Napier, said: “DIFC is recognized internationally as a leading global center for FinTech and building a presence here will enable us to better serve our clients operating both locally and in international markets. Innovations in technologies to improve financial compliance are a key part of the huge ambition that we see across the UAE as it strengthens its position as a modern global financial hub, so it’s very important for us to be here.”
Headquartered in London, Napier works with international customers and has a presence in North America, Australia and Dubai, while its foothold in APAC was also strengthened recently with key senior hires from the industry and the addition of new offices in Singapore and Kuala Lumpur.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210720005602/en/
Contact
John Sullivan
napier@contextpr.co.uk
+44(0)300-124-6100
Source : Napier
--BERNAMA
Contact
John Sullivan
napier@contextpr.co.uk
+44(0)300-124-6100
Source : Napier
--BERNAMA
Friday, 16 July 2021
WOMEN'S ENTREPRENEURSHIP ACCELERATOR JOINED GENERATION EQUALITY FORUM FOR GENDER-RESPONSIVE PROCUREMENT PANEL & COMMITS TO ACTION COALITIONS
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| The Women’s Entrepreneurship Accelerator hosted a panel titled “Building a Transformative Strategy for Gender-Responsive Procurement,” aiming at creating awareness of the disproportionately complex and interconnected barriers on women’s entrepreneurship and promoting gender-responsive procurement strategies. (Graphic: WEA) |
DALLAS, July 13 (Bernama-BUSINESS WIRE) -- The Women’s Entrepreneurship Accelerator (WEA), a leading driver for increased women’s economic participation, joined the Generation Equality Forum in Paris (June 30-July 2) through the “Drivers of Change” Program. 26 years after the Beijing Declaration, the Generation Equality Forum, convened by UN Women and co-hosted by the governments of Mexico and France, is the “most critical moment in a generation to invest in gender equality and accelerate momentum for women’s safety, leadership and economic opportunity1. 50,000 people virtually engaged in the Forum which gathered 1,000 commitment-makers, recorded $40 billion of investments for gender equality in support of a 5-year plan to act for equal across 7 areas of action.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210712005178/en/
On July 2, the Accelerator hosted a panel titled “Building a Transformative Strategy for Gender-Responsive Procurement,” aiming at creating awareness of the disproportionately complex and interconnected barriers on women’s entrepreneurship and promoting gender-responsive procurement strategies. Globally, 1 in 3 businesses are owned by women2, yet women win only 1% of the procurement spend of governments and large corporations3. Speakers shared insights and concrete advice substantiated by their own journey on how to implement inclusive procurement strategies.
Launched in 2019, the Women’s Entrepreneurship Accelerator is a multi-partner initiative designed to inspire, educate, and empower women entrepreneurs around the world. The mission of the Accelerator is to eliminate barriers for women entrepreneurs through four Pathways of Empowerment: Education, Funding, Advocacy, and Participation. With no qualifying barriers to participate, the global initiative, incepted by Mary Kay Inc., is a strategic collaboration developed in consultation with five United Nations agencies.
“We believe that gender-responsive procurement can make an enormous impact which accelerates the inclusion of women-owned businesses throughout the supply chain,” said Julia Simon, Chief Legal & Diversity Officer at Mary Kay Inc. “The Accelerator encourages the public and private sectors to make inclusive procurement a priority and drive the systemic change that women need. Supporting women entrepreneurs is critical for sustainable growth.”
Simon was one of the panelists featured during Gender Equality Forum’s Gender-Responsive Procurement discussion. She was joined by Elizabeth Vazquez, CEO and Co-Founder of WEConnect International and Jamila Belabidi, Purchases Director, Global Women Economic Empowerment & Global Innovation, Procter & Gamble. Sonia Dridi, journalist & Washington DC correspondent for France 24 and Europe 1, moderated the session.
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