SINGAPORE, March 23 (Bernama-BUSINESS WIRE) -- A.M. Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” of Partners Life Limited (Partners Life) (New Zealand).
The Credit Ratings (ratings) reflect Partners Life’s balance sheet strength, which A.M. Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).
A.M. Best assesses Partners Life’s balance sheet strength as very strong. As a relatively young life insurer that continues to grow rapidly through the financial adviser channel, the capital required for writing new business still significantly exceeds the cash flows generated out of its in-force business, which gives rise to short-term funding risk. However, this risk is mitigated partially by the company now holding a significant level of solvency margin and a further capital commitment from its largest shareholder (the Blackstone Group) until fiscal-year 2019, as well as a secured multiyear financing treaty with reinsurers until fiscal-year 2022.
While the size of Partners Life’s in-force portfolio has continued to grow rapidly, claims experiences have remained broadly in line with the company’s expectation and recent results have seen a continuous reduction in its operating expenses ratio. Furthermore, starting April 1, 2018, Partners Life will enter into a new reinsurance contract that is expected to result in a positive impact on the financing of its future new business. A.M. Best thus believes Partners Life not only will continue to generate positive earnings, but also gradually improve its operating cash flows over time.
Established in August 2010, Partners Life is a direct insurer that operates in New Zealand’s life insurance industry. Currently, the company only offers protection-type products in New Zealand, including life insurance, income protection, medical insurance, disability insurance, trauma cover and business risk protection. A high percentage of new business is generated through several large dealer groups. Although the degree of reliance on these large dealer groups has steadily reduced year on year, A.M. Best remains cautious about the company’s business profile, as Partner Life is a young life insurer that has grown rapidly with some concentration in its distribution sources.
A.M. Best views Partners Life’s ERM to be appropriate, based on its current size and risk profile. Given its plan to pursue rapid growth in the life insurance space through the independent financial adviser channel, the company’s risk profile shows moderate exposure to strategic risk and distribution concentration risk. Nevertheless, Partners Life’s risk management capabilities are considered to be aligned appropriately with its risk profile. This is supported by the company’s low product and investment risk profile, conservative reinsurance arrangements, and various strategic initiatives to develop and maintain its relationship with the large dealer groups and individual financial advisers.
The outlook revisions to positive indicate that possible rating upgrades could occur if Partners Life continues to perform in line with A.M. Best’s expectations, which include sustained profitable growth, as well as growth in premium revenue at a slower rate over time as the business continues to mature. Conversely, the ratings could be downgraded if experience variations lead to a large impairment in net insurance contract assets. Additionally, the ratings may face pressure if Partners Life fails to generate capital on a timely basis to support its operating plan.
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 A.M. 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 A.M. 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 A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.
A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
Copyright © 2018 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/20180322005880/en/
Contact
A.M. Best
Jason Shum, +65 6303 5020
Associate Director, Analytics
jason.shum@ambest.com
or
Chi-Yeung Lok, +65 6303 5016
Director, Analytics
chi-yeung.lok@ambest.com
or
Christopher Sharkey, +1 908-439-2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, +1 908-439-2200, ext. 5644
Director, Public Relations
james.peavy@ambest.com
Source : A.M. Best
Friday, 23 March 2018
McLaren deploys NTT Com's SD-WAN tech for 2018 F1 racing season
KUALA LUMPUR, March 23 (Bernama) -- McLaren Formula 1 Team (McLaren), a pioneering leader in Formula 1 motor racing for more than 50 years, and NTT Communications Corporation (NTT Com), announced that McLaren will adopt its software-defined wide-area network (SD-WAN) technology.
The technology will be used to connect the McLaren Technology Centre with racing circuits in 21 countries during the 2018 season, according to a statement from NTT Com.
The decision follows a successful test deployment of the technology during the 2017 Japan Grand Prix, when McLaren was able to send 100gb of data during a race from Japan to the UK via NTT Com's SD-WAN.
NTT Com's SD-WAN uses software to control the WAN, providing McLaren with quick, secure, reliable and flexible management of data traffic flows which can be sent via different connections, such as Internet, mobile and MPLS, depending on time, priority and current network speed.
The service also includes a dashboard screen to visualise data-traffic status during a race, with McLaren able to grasp network availability and required data bandwidth at a glance to optimise data transmission during a race.
This gives McLaren an edge in the real-time formation, adjustment and deployment of in-race strategy.
"We engineered a solution for the 2018 season that McLaren will now use across the team. I am very pleased with the success of our technology partnership," said vice-president IoT Office/McLaren Taskforce, Dr Shin Miyakawa.
Meanwhile, executive director of McLaren Technology Group, Zak Brown said: "Technology is such an important part of racing. SD-WAN is one of a number of marginal gains we are seeing from the technology partnership with NTT Com."
"Because SD-WAN offers us more control over data flows during crucial moments, it gives us an edge and it also proves the willingness of our technology partners to deliver, to bring their expertise to the party, with the ultimate goal of driving the team faster."
NTT Com provides consultancy, architecture, security and cloud services to optimise the information and communications technology (ICT) environments of enterprises. More information on NTT Com's SD-WAN can be accessed at ntt-sdwan.com.
The technology will be used to connect the McLaren Technology Centre with racing circuits in 21 countries during the 2018 season, according to a statement from NTT Com.
The decision follows a successful test deployment of the technology during the 2017 Japan Grand Prix, when McLaren was able to send 100gb of data during a race from Japan to the UK via NTT Com's SD-WAN.
NTT Com's SD-WAN uses software to control the WAN, providing McLaren with quick, secure, reliable and flexible management of data traffic flows which can be sent via different connections, such as Internet, mobile and MPLS, depending on time, priority and current network speed.
The service also includes a dashboard screen to visualise data-traffic status during a race, with McLaren able to grasp network availability and required data bandwidth at a glance to optimise data transmission during a race.
This gives McLaren an edge in the real-time formation, adjustment and deployment of in-race strategy.
"We engineered a solution for the 2018 season that McLaren will now use across the team. I am very pleased with the success of our technology partnership," said vice-president IoT Office/McLaren Taskforce, Dr Shin Miyakawa.
Meanwhile, executive director of McLaren Technology Group, Zak Brown said: "Technology is such an important part of racing. SD-WAN is one of a number of marginal gains we are seeing from the technology partnership with NTT Com."
"Because SD-WAN offers us more control over data flows during crucial moments, it gives us an edge and it also proves the willingness of our technology partners to deliver, to bring their expertise to the party, with the ultimate goal of driving the team faster."
NTT Com provides consultancy, architecture, security and cloud services to optimise the information and communications technology (ICT) environments of enterprises. More information on NTT Com's SD-WAN can be accessed at ntt-sdwan.com.
YPO hosts Global Innovation Week for dynamic innovators
KUALA LUMPUR, March 21 (Bernama) -- For the third consecutive year,
Young Presidents' Organization Inc (YPO) will host Innovation Week, a series of
more than 50 events around the world.
Designed to bring the most dynamic innovators for a chance to network, overturn conventional thinking and come away inspired with actionable, applicable insight, YPO Innovation Week will be held from May 7 to 11, 2018.
The events will be hosted across the globe from Sydney, Australia to London, England; New York, USA; Santo Domingo, Dominican Republic to Palo Alto, California, USA and Nairobi, Kenya among the over 30 countries.
YPO Innovation Week has become a global stage where next-generation innovations are welcomed and the latest trends in innovation are adopted.
YPO, in a statement said the mission of the Innovation Week is to drive innovation and transformation across a diverse range of industries and sectors through signature events, live interactive video casts and livestream events.
Business leaders and pioneering thinkers will engage in a week-long forum discussing the most important innovations affecting business today, including augmented and virtual reality, vehicle technology, digital imaging, wearables, smart home, sensors and more.
The Innovation Week will allow the business leaders with learning and networking opportunities to infuse innovation into their companies, form strategic partnerships, and positively affect their businesses and the communities in which they work.
They will also be able to leverage new partnerships in innovation, fortify innovation into the heart of their company culture and convert ideas into actionable plans.
One of the highlights is the Real Estate Roundtable Latin America in Santo Domingo, Dominican Republic on May 6 to 8, 2018 which will explore what is driving success in real estate across the Dominican Republic and the Latin American region, including opportunities in Brazil, Mexico and Colombia.
Additionally, the roundtable event will focus on the newest trends in digital marketing and how services, products, processes and operations are being reimagined through the digital lens for real estate initiatives.
Another is the 'World Technology Summit 2018: What's the Future>' to be held on May 8 to 10, in New York, USA which will feature amazing advancements in New York City's most promising tech incubators as well as opportunities to meet developers creating the next generation of disruptive innovation in healthcare, finance, education, marketing and social good.
YPO Innovation Week focuses on making innovative ideas actionable by creating a 360-degree environment for members to learn from each other, from pioneering global innovators and the world's most innovative companies,? said YPO Innovation Week chair Keith Alper, founder and chief executive officer of Geniecast.
YPO is the global platform for chief executives to engage, learn and grow. Today, the organisation empowers more than 25,000 members in more than 130 countries, diversified among industries and types of businesses.
For more information about the events, visit http://www.ypoinnovationweek.com
-- BERNAMA
Designed to bring the most dynamic innovators for a chance to network, overturn conventional thinking and come away inspired with actionable, applicable insight, YPO Innovation Week will be held from May 7 to 11, 2018.
The events will be hosted across the globe from Sydney, Australia to London, England; New York, USA; Santo Domingo, Dominican Republic to Palo Alto, California, USA and Nairobi, Kenya among the over 30 countries.
YPO Innovation Week has become a global stage where next-generation innovations are welcomed and the latest trends in innovation are adopted.
YPO, in a statement said the mission of the Innovation Week is to drive innovation and transformation across a diverse range of industries and sectors through signature events, live interactive video casts and livestream events.
Business leaders and pioneering thinkers will engage in a week-long forum discussing the most important innovations affecting business today, including augmented and virtual reality, vehicle technology, digital imaging, wearables, smart home, sensors and more.
The Innovation Week will allow the business leaders with learning and networking opportunities to infuse innovation into their companies, form strategic partnerships, and positively affect their businesses and the communities in which they work.
They will also be able to leverage new partnerships in innovation, fortify innovation into the heart of their company culture and convert ideas into actionable plans.
One of the highlights is the Real Estate Roundtable Latin America in Santo Domingo, Dominican Republic on May 6 to 8, 2018 which will explore what is driving success in real estate across the Dominican Republic and the Latin American region, including opportunities in Brazil, Mexico and Colombia.
Additionally, the roundtable event will focus on the newest trends in digital marketing and how services, products, processes and operations are being reimagined through the digital lens for real estate initiatives.
Another is the 'World Technology Summit 2018: What's the Future>' to be held on May 8 to 10, in New York, USA which will feature amazing advancements in New York City's most promising tech incubators as well as opportunities to meet developers creating the next generation of disruptive innovation in healthcare, finance, education, marketing and social good.
YPO Innovation Week focuses on making innovative ideas actionable by creating a 360-degree environment for members to learn from each other, from pioneering global innovators and the world's most innovative companies,? said YPO Innovation Week chair Keith Alper, founder and chief executive officer of Geniecast.
YPO is the global platform for chief executives to engage, learn and grow. Today, the organisation empowers more than 25,000 members in more than 130 countries, diversified among industries and types of businesses.
For more information about the events, visit http://www.ypoinnovationweek.com
-- BERNAMA
Polyplastics unveils new series of low-dielectric LCP
KUALA LUMPUR, March 23 (Bernama) -- Polyplastics Co. Ltd., a global supplier of engineering thermoplastics, has unveiled a new series of low-dielectric liquid crystal polymers (LCPs) for next-generation communication devices.
Polyplastics, in a statement, said the new LCP series known as LAPEROS (R) E420P, is the first low-dielectric grades which also possess inherent high heat resistance, mechanical properties, chemical resistance, high flow and low warpage for films and connectors in cabling, antennas and circuit boards.
As the demand increased, the company developed the new series to satisfy the needs of 5G telecommunications and V2X telecommunications for autonomous automobiles and materials applicable for high-speed and high-frequency transmission components.
Using an optimum combination of filler and formulation technology, LAPEROS (R) E420P achieves a low-dielectric constant of less than 3.0 measured perpendicular to the flow direction for the 1-20 GHz frequency band.
The material also fulfils downsizing requirements and increasingly complex designs in connector applications and can be used in surface-mount technology processes.
Polyplastics plans to extend its product portfolio to include grades with enhanced low warpage, higher heat resistance, greater flow for compact and fine-pitched connectors.
LAPEROS (R) is a registered trademark of Polyplastics Co. Ltd. in Japan and other countries.
The company has the largest global market share of polyoxymethylene and LCPs. With more than 50 years of experience, Polyplastics is backed by a strong global network of research and development, and production and sales resources capable of creating advanced solutions for an ever-changing global marketplace.
For more information, visit www.polyplastics.com/en/product/lines/lcp_e420p/index.vm.
Polyplastics, in a statement, said the new LCP series known as LAPEROS (R) E420P, is the first low-dielectric grades which also possess inherent high heat resistance, mechanical properties, chemical resistance, high flow and low warpage for films and connectors in cabling, antennas and circuit boards.
As the demand increased, the company developed the new series to satisfy the needs of 5G telecommunications and V2X telecommunications for autonomous automobiles and materials applicable for high-speed and high-frequency transmission components.
Using an optimum combination of filler and formulation technology, LAPEROS (R) E420P achieves a low-dielectric constant of less than 3.0 measured perpendicular to the flow direction for the 1-20 GHz frequency band.
The material also fulfils downsizing requirements and increasingly complex designs in connector applications and can be used in surface-mount technology processes.
Polyplastics plans to extend its product portfolio to include grades with enhanced low warpage, higher heat resistance, greater flow for compact and fine-pitched connectors.
LAPEROS (R) is a registered trademark of Polyplastics Co. Ltd. in Japan and other countries.
The company has the largest global market share of polyoxymethylene and LCPs. With more than 50 years of experience, Polyplastics is backed by a strong global network of research and development, and production and sales resources capable of creating advanced solutions for an ever-changing global marketplace.
For more information, visit www.polyplastics.com/en/product/lines/lcp_e420p/index.vm.
Japan Tourism invites 30 global bloggers to promote Japan's charms
KUALA LUMPUR, March 23 (Bernama) -- The Japan National Tourism Organization (JNTO) invited 30 'powerful influencers' (bloggers) from 20 foreign countries and regions to visit and promote the tourism attractions across Japan, in March.
Malaysia was one of the countries invited to join the project.
The other countries and regions involved were South Korea, China, Taiwan, Hong Kong, Thailand, Singapore, Indonesia, the Philippines, Vietnam, India, Australia, the United States, Canada, Britain, France, Germany, Italy, Russia and Spain.
The project promoted 'Instagrammable' (photogenic) spots and hands-on programmes in addition to tourist spots already highly recognised abroad.
The project included six courses in Hokkaido/Tohoku, Kanto/Koshinetsu, Chubu/Hokuriku, Kansai, Chugoku/Shikoku and Kyushu/Hokkaido.
All the courses were from March 5 to 9, 2018 except for the Kansai course which was held from Feb 26 to March 2, while the Kyushu/Hokkaido course was from March 12 to 17.
The duration of each course was one week and involved different bloggers from various countries.
The photographs and articles listed through the project contain #undiscoveredjapan, #enjoymyjapan, #visitjapanjp hashtags which can be found on the links, https://www.instagram.com/explore/tags/undiscoveredjapan/ and https://www.facebook.com/hashtag/undiscoveredjapan?source=feed_text.
Malaysia was one of the countries invited to join the project.
The other countries and regions involved were South Korea, China, Taiwan, Hong Kong, Thailand, Singapore, Indonesia, the Philippines, Vietnam, India, Australia, the United States, Canada, Britain, France, Germany, Italy, Russia and Spain.
The project promoted 'Instagrammable' (photogenic) spots and hands-on programmes in addition to tourist spots already highly recognised abroad.
The project included six courses in Hokkaido/Tohoku, Kanto/Koshinetsu, Chubu/Hokuriku, Kansai, Chugoku/Shikoku and Kyushu/Hokkaido.
All the courses were from March 5 to 9, 2018 except for the Kansai course which was held from Feb 26 to March 2, while the Kyushu/Hokkaido course was from March 12 to 17.
The duration of each course was one week and involved different bloggers from various countries.
The photographs and articles listed through the project contain #undiscoveredjapan, #enjoymyjapan, #visitjapanjp hashtags which can be found on the links, https://www.instagram.com/explore/tags/undiscoveredjapan/ and https://www.facebook.com/hashtag/undiscoveredjapan?source=feed_text.
Thursday, 22 March 2018
Seven winners of 12th GATSBY Creative Awards
KUALA LUMPUR, March 21 (Bernama) -- Seven people were named as Asia's top winners in the 12th GATSBY Creative Awards announced recently in Shibuya, Tokyo.
The winners in each category were: Commercial: Islam Luthfi Syaiful (Indonesia); Art: Leung Sze Yan (Hong Kong); Dance: Takumi Kuwahara (Japan); Music: Ren Shimonagane (Japan); Fashion: Aya Sato (Japan); Smart Phone: Hazumi Tsuchiya (Japan); and Hair Style: Ryo Matsuoka (Japan).
"These awards were among the largest to honour students' creative work in Asia, with Mandom Corporation holding the final judging on March 10," the company said in a statement.
Provided by 'GATSBY', a men's cosmetic brand with a strong presence throughout Asia, the GATSBY Creative Awards initially began as the GATSBY Student CM Awards in 2006, from the company's desire to provide a forum for students to express and display their creative talent.
For the 12th edition of the Awards, the participants involved were from 12 different countries and regions in Asia, making it the largest ever in its history with 2,333 projects submitted.
For more information, readers can access the official website at https://award.gatsby.jp/12/
-- BERNAMA
The winners in each category were: Commercial: Islam Luthfi Syaiful (Indonesia); Art: Leung Sze Yan (Hong Kong); Dance: Takumi Kuwahara (Japan); Music: Ren Shimonagane (Japan); Fashion: Aya Sato (Japan); Smart Phone: Hazumi Tsuchiya (Japan); and Hair Style: Ryo Matsuoka (Japan).
"These awards were among the largest to honour students' creative work in Asia, with Mandom Corporation holding the final judging on March 10," the company said in a statement.
Provided by 'GATSBY', a men's cosmetic brand with a strong presence throughout Asia, the GATSBY Creative Awards initially began as the GATSBY Student CM Awards in 2006, from the company's desire to provide a forum for students to express and display their creative talent.
For the 12th edition of the Awards, the participants involved were from 12 different countries and regions in Asia, making it the largest ever in its history with 2,333 projects submitted.
For more information, readers can access the official website at https://award.gatsby.jp/12/
-- BERNAMA
Milrem Robotics develops firefighting, search and rescue UG vehicle
KUALA LUMPUR, March 20 (Bernama) -- Known mostly for its smart
warfare systems, Milrem Robotics is entering the commercial market with its
firefighting and search and rescue unmanned ground vehicle (UGV) being
developed together with rescue services.
Known as Multiscope Rescue, this UGV can be equipped with firefighting equipment such as a water tank and a remote-controlled water cannon, and can reach unreachable areas by human personnel, or places too dangerous for firefighters to go into like tunnels or other structures that may collapse at any time.
"The search and rescue unit can also be equipped with thermal cameras and powerful lights to find missing people in harsh environments or remote forested areas," the company said in a statement.
Multiscope Rescue has been developed using know-how gained from designing and manufacturing Milrem Robotics' well-known, defence-oriented UGV, the THeMIS that has been rigorously tested during several military exercises in different climates.
It has all the high technical capabilities of the THeMIS, such as a payload of 750 kg, a diesel-electric drive and the ability to pass through difficult terrains.
Chief executive officer of Milrem Robotics, Kuldar Vaarsi said innovative technologies have made it possible to not only keep humans away from dangerous places but to relieve them from doing dull and dirty jobs.
Vaarsi also stated that collaboration with Estonian Rescue Board has great significance and value for the company to develop new user-friendly unmanned and autonomous products.
"This kind of modern technology will allow rescuers to do their work more quickly and easily in rescue operations without putting themselves at risk. I can see rescue services of different countries implementing this kind of technology in the future," added head of the Rescue Department of the Estonian Rescue Board, Martin Lambing.
Milrem Robotics is developing its commercial UGV Multiscope also for agriculture and mining.
For more information on the firefighting UGV, visit https://youtu.be/4F4l04nYnQo
-- BERNAMA
Known as Multiscope Rescue, this UGV can be equipped with firefighting equipment such as a water tank and a remote-controlled water cannon, and can reach unreachable areas by human personnel, or places too dangerous for firefighters to go into like tunnels or other structures that may collapse at any time.
"The search and rescue unit can also be equipped with thermal cameras and powerful lights to find missing people in harsh environments or remote forested areas," the company said in a statement.
Multiscope Rescue has been developed using know-how gained from designing and manufacturing Milrem Robotics' well-known, defence-oriented UGV, the THeMIS that has been rigorously tested during several military exercises in different climates.
It has all the high technical capabilities of the THeMIS, such as a payload of 750 kg, a diesel-electric drive and the ability to pass through difficult terrains.
Chief executive officer of Milrem Robotics, Kuldar Vaarsi said innovative technologies have made it possible to not only keep humans away from dangerous places but to relieve them from doing dull and dirty jobs.
Vaarsi also stated that collaboration with Estonian Rescue Board has great significance and value for the company to develop new user-friendly unmanned and autonomous products.
"This kind of modern technology will allow rescuers to do their work more quickly and easily in rescue operations without putting themselves at risk. I can see rescue services of different countries implementing this kind of technology in the future," added head of the Rescue Department of the Estonian Rescue Board, Martin Lambing.
Milrem Robotics is developing its commercial UGV Multiscope also for agriculture and mining.
For more information on the firefighting UGV, visit https://youtu.be/4F4l04nYnQo
-- BERNAMA
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