Best Cure Health System (BCHS), in Partnership with Best Cure Foundation (BCF), TeamBest Companies, and Best Cure Insurance (BCI) is Launching a New Revolutionary, Non-Profit Healthcare Delivery Program

WASHINGTON & OTTAWA, Ontario & CHENNAI, India & MUMBAI, India & NEW DELHI--(BUSINESS WIRE)--#BCF--BCHS will establish a global network of 500 plus Cyclotrons (15 MeV to 70 MeV) and Radiopharmaceutical Clinics with full-fledged Diagnostic Radiology Centers as part of BCHS Delivery Network.


These Medical and Diagnostic Centers will operate 24/7, and offer care at lower than normal charges, including significantly reduced co-pays for patients, in conjunction with BCHS Express and Mobile Clinics, General and Super-Specialty Medical Centers.

All of the technologies, devices and products associated with the delivery of these BCHS Medical Services will be manufactured, distributed, installed, commissioned and serviced by TeamBest Companies.

For more information, please visit: www.bestcure.md and www.teambest.com/about_bio.html

Best Cure Foundation HQ / TeamBest Companies HQ
7643 Fullerton Road, Springfield, VA 22153 USA
phone 703 451 2378     800 336 4970
www.bestcure.md     www.teambest.com


Contacts

Best Cure Foundation and TeamBest Companies
Krishnan Suthanthiran, +1 703-451-2378
Founder & President
krish@bestcure.md / krish@teambest.com

Best Cure Foundation (BCF) & TeamBest Companies Are Launching Non-Profit/Non-Governmental Best Cure Health System & Best Cure Insurance Globally to Make the 10+ Trillion USD Global Healthcare Delivery System Significantly Better and Less Expensive

WASHINGTON & OTTAWA, Ontario & CHENNAI, India & MUMBAI, India & NEW DELHI--(BUSINESS WIRE)--#BCF--In 2007, Krishnan Suthanthiran established Best Cure Foundation (a non-profit non-governmental organization) to make quality healthcare and higher education affordable and accessible to everyone globally.


Mr. Suthanthiran believes, “Health is wealth – A healthy person has many wishes, but a sick person has only one. Everyone deserves the best healthcare. In addition, higher education is the most effective way to eliminate poverty and promote global understanding and peace.”

Best Cure Foundation's main goal is to reduce the deaths and suffering from Cancer, Cardiac, Diabetes and other major diseases by 50% by the end of the next decade.

Over the last 11 years, Mr. Suthanthiran has been promoting Best Cure Foundation at his own expense and contributions – and now, Amazon, Berkshire Hathaway and JPMorgan Chase & Co. have joined together to establish a form of non-profit healthcare program (contemplated by BCF 11 years ago) for nearly one million of their employees. There are other groups around the world trying to implement the recommendations of BCF over the last ten years.

Mr. Suthanthiran is launching his Global Healthcare Plan, by establishing a Hub-and-Spoke Model healthcare delivery system of Express and Mobile Clinics linked to General and Super-Specialty Medical Centers. These are part of his efforts to set right the vast 10+ trillion USD global healthcare economy, which is growing at 10% or more every year, using his non-profit foundations – Best Real Estate Investment Trust, Best Medical Capital and his family of private medical companies, collectively known as TeamBest. TeamBest Companies are innovators and pioneers of many of the advanced medical technologies used globally today.

Mr. Suthanthiran has stated, “BCF will be using a Total Health approach of Prevention, Early Detection and Effective Treatment for Total Cure, using many new innovative technologies and practices, including a Proactive Healthcare Delivery System, with full transparency on clinical outcomes, benefits and costs.”

For more information, please visit: www.bestcure.md and www.teambest.com/about_bio.html

Best Cure Foundation HQ / TeamBest Companies HQ
7643 Fullerton Road, Springfield, VA 22153 USA
phone 703 451 2378     800 336 4970
www.bestcure.md     www.teambest.com


Contacts

Best Cure Foundation and TeamBest Companies
Krishnan Suthanthiran, +1 703-451-2378
Founder & President
krish@bestcure.md / krish@teambest.com

Berkshire Hathaway Specialty Insurance Company Opens Office in Dubai, Names Executives to Head Middle East Region and Third Party Lines

BOSTON--(BUSINESS WIRE)--Berkshire Hathaway Specialty Insurance Company (BHSI) today announced that it has received its insurance license from the Dubai Financial Services Authority and established an office in the Dubai International Financial Centre (DIFC), while naming Alessandro Cerase as its Senior Executive Officer (SEO) and Neeraj Yadvendu as deputy SEO and Head of Third Party Lines for the Middle East. In addition, Alessandro will be leading First Party Lines for BHSI’s broader Asia Middle East region, which includes BHSI’s other regional hubs of Hong Kong and Singapore as well as its operations in Malaysia and Macau.


“We are excited to expand BHSI’s footprint in this region which will service those markets in the Middle East and beyond who seek (re)insurance support in the DIFC. The strategic location of Dubai as well as the stability and efficiency of the DIFC make it an ideal hub for BHSI to support economic growth in the region. Our operation in the DIFC will bring BHSI’s financial strength, and underwriting and claims excellence to the region.” said Marc Breuil, President of Asia Middle East, BHSI. “We are excited to be able to serve customers and brokers in the region under the experienced leadership of Alessandro and Neeraj.”

BHSI will provide a suite of specialty and commercial (re)insurance products to its network of brokers and ceding companies with a focus on construction, energy, property, marine, casualty and executive and professional lines.

Alessandro comes to BHSI with 20 years of global experience spanning both the engineering and underwriting sides of the insurance business. He was most recently Global Head of Energy and Engineered Risk at AIG. He holds a master’s degree in Chemical Engineering from Universita’ degli Studi di Roma.

Neeraj joins BHSI after two decades in the insurance industry, most recently as Regional Head of Casualty and Financial Lines at AXA Asia. He received his master’s degree in Business Administration from India’s University of Pune, and his bachelor’s degree from City College, Calcutta University.

For more information on BHSI’s insurance products in Dubai, contact Alessandro.cerase@bhspecialty.com, or Neeraj.yadvendu@bhspecialty.com,

BHSI’s Dubai office is located at: Unit 2106-B, Level 21, Index Tower, Dubai International Financial Centre, PO Box 506861, Dubai, UAE. Phone #043390606. From outside of the UAE, +(971) 43390606

Berkshire Hathaway Specialty Insurance Company (www.bhspecialty.com) provides commercial property, casualty, healthcare professional liability, executive and professional lines, surety, travel, programs, medical stop loss, and homeowners insurance. The actual and final terms of coverage for all product lines may vary. In the Asia Middle East region, it underwrites on the paper of Berkshire Hathaway Specialty Insurance Company, which holds financial strength ratings of A++ from AM Best and AA+ from Standard & Poor’s. Based in Boston, Berkshire Hathaway Specialty Insurance has offices in Atlanta, Asheville, Boston, Chicago, Houston, Indianapolis, Irvine, Los Angeles, New York, San Francisco, San Ramon, Seattle, Stevens Point, Auckland, Brisbane, Dubai, Dublin, Düsseldorf, Hong Kong, Kuala Lumpur, London, Macau, Melbourne, Singapore, Sydney and Toronto.

Regulated by the Dubai Financial Services Authority. For more information, contact info@bhspecialty.com


Contacts

Berkshire Hathaway Specialty Insurance Company
Joann Lee, +1 617-936-2937

A.M. Best Affirms Credit Ratings of Hotai Insurance Co., Ltd.

HONG KONG--(BUSINESS WIRE)--A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Hotai Insurance Co., Ltd. (Hotai Insurance) (Taiwan). The outlook of these Credit Ratings (ratings) is stable.


Hozan Investment Co., Ltd., a wholly owned subsidiary of Ho Tai Motor Co., Ltd. (Ho Tai Motor), completed its acquisition of Zurich Insurance Taiwan on Jan. 17, 2017, and changed the name to Hotai Insurance on March 1, 2017. Ho Tai Motor, the ultimate parent of Hotai Insurance, is a Taiwan market-leading distributor of well-known auto brands such as Toyota, Lexus and HINO. Ho Tai Motor also operates and invests in car rental and leasing, auto finance, auto insurance and the auto parts business.

The ratings reflect Hotai Insurance’s balance sheet strength, which A.M. Best categorizes as very strong, as well as its marginal operating performance, neutral business profile and appropriate enterprise risk management. The ratings also reflect the lift the company receives from its non-insurance ultimate parent.

Hotai Insurance’s very strong balance sheet strength is supported by risk-adjusted capitalization that is at the strongest level. Operating performance has improved recently, as the company has successfully turned around its underwriting book and brought its combined ratio below 100% in 2017. As a subsidiary of Ho Tai Motor, the company benefits from a sustainable competitive advantage in the motor car dealer distribution channel that allowed it to double motor business volume in terms of gross premium written in 2017. A.M. Best expects Ho Tai Motor’s distribution network to continue to allow Hotai Insurance to scale up its motor portfolio in the near future.

Offsetting rating factors include execution risk, not only from transforming the business to be focused on motor insurance and the strategic integration with its new parent, but also achieving continuous growth in other lines simultaneously.

Positive rating actions could occur if Hotai Insurance can successfully implement its business transformation plan, and continuously demonstrate stable and favorable operating results. Negative rating actions could occur if the level of business commitment from the affiliated distribution channel decreases significantly or if Ho Tai Motor’s credit profile deteriorates. Negative rating actions also could occur if Hotai Insurance’s risk-adjusted capitalization declines sharply due to a higher-than-expected increase in the company’s risk profile.

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.


Contacts

A.M. Best
Vivian Cheung, +852 2827 3421
Senior Financial Analyst
vivian.cheung@ambest.com
or
Christie Lee, +852 2827 3413
Director, Analytics
christie.lee@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

A.M. Best Comments on Credit Ratings of Provident Insurance Corporation Limited After Co-op Acquisition

SINGAPORE--(BUSINESS WIRE)--A.M. Best has commented that the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of Provident Insurance Corporation Limited (Provident) (New Zealand) remain unchanged. The outlook of these Credit Ratings (ratings) remains stable.


This commentary follows Provident acquiring the business assets of Credit Union Insurance Limited (New Zealand) (Co-op), Provident’s current underwriter for motor vehicle insurance. The preliminary stage of the transaction was completed in December 2017. Provident made an initial payment and is underwriting its own motor vehicle policies through Co-op’s systems and personnel. Stage two of the transaction involves the transfer of Co-op’s existing book of policies to Provident, pending regulatory approval that is likely to finalize by the next quarter.

Though the acquisition is funded out of Provident’s existing capital, A.M. Best expects Provident’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), to remain, in the near term, at a level that is supportive of the current ratings.

The business transition and acquisition payment is expected to complete in the third quarter of 2018. A.M. Best will continue to monitor the progress of the transaction and evaluate developments for any impact on the ratings.

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.


Contacts

A.M. Best
Larina Huang, +65 6303 5021
Associate Financial Analyst
larina.huang@ambest.com
or
Jason Shum, +65 6303 5020
Associate Director
jason.shum@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

A.M. Best Downgrades Credit Ratings of CBL Corporation Limited and CBL Insurance Limited; Places Under Review With Negative Implications

SINGAPORE--(BUSINESS WIRE)--A.M. Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bb+” from “bbb-” of CBL Corporation Limited (CCL) (New Zealand). Concurrently, A.M. Best also has downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term ICR to “bbb+” from “a-” of CBL Insurance Limited (CBL) (New Zealand). These Credit Ratings (ratings) have been placed under review with negative implications.


CCL is a listed company on the Australian Securities Exchange and the New Zealand Stock Exchange. The lead insurance subsidiary within this group is CBL, a non-life insurer that specializes in underwriting building- and construction-related credit and financial surety insurance, bonding and reinsurance.

The rating downgrades reflect the significant deterioration in CCL’s operating performance in fiscal year 2017, due primarily to a NZD 100 million reserve charge to strengthen reserves for CBL’s long-tail French construction insurance business. Management has proposed raising a substantial amount of capital, with details anticipated to be announced over the upcoming weeks, and this is expected to restore overall balance sheet strength to a level that supports the current ratings. In addition, A.M. Best will have further discussions with the company regarding its reserving practice, as well as the long-term profitability of CBL’s long-tail insurance products.

A review of the full-year 2017 results, including the associated actuarial and reserving analysis, is necessary to provide A.M. Best with sufficient information to resolve these questions.

These ratings will remain under review pending the completion of the intended capital raise, an assessment of the adequacy of the strengthened reserves, as well as the corrective actions taken by the management to address the underlying causes of the shortfall in claims reserves.

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.


Contacts

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

A.M. BestTV: Surging Life Sector Boosts Insurance Growth in China, Says A.M. Best Senior Financial Analyst

OLDWICK, N.J.--(BUSINESS WIRE)--In this A.M.BestTV episode, A.M. Best Senior Financial Analyst Vivian Cheung says that China’s insurance industry is expected to continue its growth, with new rules on short-term life products and growth in non-motor property insurance aiding the market momentum. Click on http://www.ambest.com/v.asp?v=cheung118 to view the entire program.

“In 2016, the main factor driving growth in the China insurance sector was growth in the life insurance sector, which grew by a remarkable 36% year over year,” said Cheung. “Growth was mainly driven by relaxation by the Chinese regulator on guaranteed investment returns so that life insurers could offer more short-term products with investment returns that were more attractive than those offered by the banks. For the non-life insurance sector, the growth was mainly coming from the non-motor segment, particularly the credit and liability sectors.”

Cheung said that although market growth continued in 2017, the pace of growth slowed. “This was due to a slow-down in the growth rate from the life insurance sector, as the regulator raised a lot of concerns over excessive growth in the universal life product line. The regulator has tried to promote more long-term saving products and protection-type products.”

Recent episodes of A.M.BestTV include:

  • U.S. Life/Annuity Insurers Step Up Use of Reinsurance, Says A.M. Best Director: William Pargeans, director, A.M. Best, reviews a new report that details how life and annuity insurers are using reinsurance for overall risk management, coverage of specific risks, supporting new products and more: http://www.ambest.com/v.asp?v=laparjeans118.
  • How U.S. Tax Reform Will Affect Insurers: A.M. Best Senior Industry Research Analysts George Hansen and David Blades examine how the 2017 U.S. tax reform is set to impact a wide range of insurance areas, including reinsurance, reserves, long-tail lines and more: http://www.ambest.com/v.asp?v=taxreform118.
  • Record California Wildfire Season Puts Spotlight on Insurers: A.M. Best Financial Analyst Lewis DeLosa and Industry Analyst Bobby Skrabal examine the impact of recent catastrophic wildfires in California, including how these fires might affect insurance underwriting, modeling and reinsurance: http://www.ambest.com/v.asp?v=wildfires118.

A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.

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 Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.


Contacts

A.M. Best
Lee McDonald, +1 908-439-2200, ext. 5561
Group Vice President, Publication and News Services
lee.mcdonald@ambest.com

Japan Marine, Aviation and Transit Insurance 2020: Market Size, Growth and Forecast Analytics – ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Marine, Aviation and Transit Insurance in Japan to 2020: Market Size, Growth and Forecast Analytics" report has been added to ResearchAndMarkets.com's offering.


The total amount of gross written premiums in the marine, aviation and transit insurance in Japan is valued at JPY414.92 Million (US$3.43 Million) in 2015, which is an increase of 15.12% from 2011. The category has recorded a CAGR of 3.58% during the review period (2011-2015).

This report contains detailed historic and forecast data covering Marine, Aviation and Transit Insurance in Japan. This databook provides values for key performance indicators such premiums (gross written premiums, direct written premiums, net written premiums, net earned premiums, net written premiums (% of GWP) and insurance penetration (ratio of direct premiums to GDP)).

The research handbook provides the up-to-date market data for period 2011-2015 and illustrative forecast to 2020. Values in the handbook are depicted in USD ($) and local currency by country and number of active policies are represented in millions.

Reasons to Buy:

  • Understand the non-life insurance industry covering marine, aviation and transit insurance in Japan.
  • Enhance your knowledge of the market with a breakdown of data including gross written premiums, direct written premiums, net written premiums, net earned premiums, net written premiums (% of GWP) and insurance penetration (ratio of direct premiums to GDP) , by product type (Marine (marine hull & marine liability), Aviation and Transit) and by single premiums & non single premiums.
  • Allows you to plan future business decisions using the forecast figures given for the segment.
  • The broad but detailed perspective will help all the companies in the Insurance industry to understand and succeed in the challenging market.

Key Topics Covered:

1 Introduction

1.1 What is this Report About?

1.2 Definitions

1.3 Methodology

1.4 CAGR Definition and Calculation

2 Marine, Aviation and Transit Insurance

2.1 Policies and Premiums

2.2 Claims and Expenses

3 Marine, Aviation and Transit Insurance - by Product Type

3.1 Marine

3.2 Aviation

3.3 Transit

For more information about this report visit https://www.researchandmarkets.com/research/8g5xsr/japan_marine?w=4


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Insurance

A.M. Best Revises Outlooks to Stable for ERGO Insurance Pte. Ltd.

SINGAPORE--(BUSINESS WIRE)--A.M. Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of ERGO Insurance Pte. Ltd. (ERGO Insurance) (Singapore).


The affirmation of these Credit Ratings (ratings) reflects ERGO Insurance’s balance sheet strength, which A.M. Best categorizes as strong, as well as its marginal operating performance, neutral business profile and appropriate enterprise risk management. The revised outlooks recognize ERGO Insurance’s role in supporting its parent, ERGO Group AG, with its business development plans in Asia, as well as the explicit support ERGO Insurance receives from its ultimate parent company, Munich Reinsurance Company.

ERGO Insurance’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), remains solid and continues to support a balance sheet strength assessment of strong, despite a downward trend since 2014. Significant capital repatriation in the form of high dividend payments has reduced the company’s capital and liquidity position. A.M. Best expects ERGO Insurance’s risk-adjusted capitalization to remain strong in the near term, supported by reduced premium volumes.

ERGO Insurance’s operating performance continues to be unfavorable as a result of elevated losses and expense ratios, and its performance has fallen behind its peers since 2016. A new management team has been tasked with returning the company to profitability in the medium term.

Positive rating actions could occur if ERGO Insurance achieves consistent, above-industry average profitability while meeting its growth targets. Negative rating actions may occur in the event of further deterioration in the company’s operating performance or business profile. An unfavorable reassessment of ERGO Insurance’s strategic role in the group also could result in negative rating actions.

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.


Contacts

A.M. Best
Faith Tan, +65 6303 5017
Financial Analyst
faith.tan@ambest.com
or
Christopher Sharkey, +1 908 439 2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Chi-Yeung Lok, +65 6303 5018
Director, Analytics
chi-yeung.lok@ambest.com
or
Jim Peavy, +1 908 439 2200, ext. 5644
Director, Public Relations
james.peavy@ambest.com

A.M. Best Affirms Credit Ratings of Meiji Yasuda Life Insurance Company

HONG KONG--(BUSINESS WIRE)--A.M. Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating 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 A.M. Best categorizes as very strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.

The company’s capital requirements, as measured by Best’s Capital Adequacy Ratio (BCAR), continue to be driven by asset risk, due to its sizeable investment assets relative to its capital and surplus. Also, the company maintains a modest gap between asset and liability durations. Meiji Yasuda’s financial leverage remains adequate for the current ratings.

Meiji Yasuda reports a stabilized trend in premium income in terms of annualized premium equivalent in the past three years, owing to the company’s effort to control sales of single-premium products. The company reports a moderate level of volatility in its operating results, which are susceptible to financial market conditions.

As the third-largest life insurer in Japan, Meiji Yasuda holds a strong position in the group insurance market. More recently, the company has started to diversify its business by expanding overseas, though its geographic diversification remains modest for now.

Meiji Yasuda is well-positioned at its current rating level. Negative rating actions could occur if there is material deterioration in its risk-adjusted capitalization due to substantial investment losses, or if it 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 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.


Contacts

A.M. Best
Seewon Oh, +852 2827 3404
Associate Director, Analytics
seewon.oh@ambest.com
or
Christie Lee, +852 2827 3413
Director, Analytics
christie.lee@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

A.M. Best Affirms Credit Ratings of FMG Insurance Limited

SINGAPORE--(BUSINESS WIRE)--A.M. Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of FMG Insurance Limited (FMGIL) (New Zealand). The outlook of these Credit Ratings (ratings) is stable.


The ratings reflect FMGIL’s balance sheet strength, which A.M. Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. The ratings also reflect FMGIL’s modest underwriting leverage, prudent capital management policy and direct distribution network capability.

FMGIL has a well-established profile within New Zealand’s farming and rural sector. Due to its rural and provincial focus, FMGIL’s insured risks are spread widely across the country. Hence, FMGIL has less geographic risk concentration proportionally relative to its peers. In turn, FMGIL is able to maintain adequate catastrophe protection, while keeping reinsurance costs affordable through a robust reinsurance program.

Partially offsetting rating factors are FMGIL’s variable operating performance and a deteriorating trend in its underwriting performance in recent years. Operating results in fiscal years 2016 and 2017 in particular took a downturn, primarily due to claims costs from multiple weather events along with the impact of the November 2016 Kaikoura earthquake. In response, the company has implemented price increases across business lines, and prospective underwriting results are expected to improve.

Positive rating actions are unlikely in the short term. Negative rating actions could occur if there is significant deterioration in FMGIL’s risk-adjusted capitalization as a result of multiple catastrophe event losses.

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.


Contacts

A.M. Best
Larina Huang, +65 6503 5012
Associate Financial Analyst
larina.huang@ambest.com
or
Jason Shum, +65 6303 5020
Associate Director
jason.shum@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

A.M. Best Affirms Credit Ratings of The Dai-ichi Life Insurance Company, Limited

HONG KONG--(BUSINESS WIRE)--A.M. Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” of The Dai-ichi Life Insurance Company, Limited (DL) (Japan), a wholly owned subsidiary of Dai-ichi Life Holdings, Inc. The outlook of these Credit Ratings (ratings) is stable.


The ratings reflect DL’s balance sheet strength, which A.M. Best categorizes as very strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.

DL’s very strong balance sheet is underpinned by risk-adjusted capitalization that A.M. Best considers to be at the strongest level and by a positive impact from the holding company, which is offset partially by DL’s moderate asset/liability duration gap. The company’s capital requirements, as measured by Best’s Capital Adequacy Ratio (BCAR), continue to be driven by asset risk due to its sizeable investment assets relative to its shareholder funds. DL’s financial leverage remains adequate for the current ratings.

DL’s profitability remains strong, demonstrated by a relatively high level of operating return on equity. However, the company has reported a modest level of volatility in its operating results, which are susceptible to financial market conditions.

DL has a well-diversified portfolio in terms of business lines and geography. The company carries a moderate level of product risk due to having some concentration of long-duration policies in its domestic life insurance businesses.

Negative rating actions could occur if there is material deterioration in the company’s risk-adjusted capitalization or 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 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.


Contacts

A.M. Best
Seewon Oh, +852 2827 3404
Associate Director, Analytics
seewon.oh@ambest.com
or
Christie Lee, +852 2827 3413
Director, Analytics
christie.lee@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

Best’s Briefing: Typhoon Hato Shows Macau’s Insurance and Reinsurance Models to be Robust

HONG KONG--(BUSINESS WIRE)--The Macau non-life insurance industry ability to withstand 2017’s Typhoon Hato (Hato) shows that despite the market’s small size, it remains a healthy one, with well-capitalized companies that have strong earning capabilities to help withstand losses, according to a new A.M. Best briefing.


The new Best’s Briefing, titled “Typhoon Hato Shows Macau’s (Re)insurance Models to be Robust,” states that Macau’s insurance regulator takes a conservative approach by requiring a minimum solvency margin for non-life business based on gross premiums written. Under these high capital requirements, local insurance companies tend to focus on the bottom line in order to deliver their shareholders an expected return-on-equity (ROE). As a result, the earning capabilities of the top three non-life insurers in Macau, which represent 70% of the market share, are considered strong, with five-year ROEs ranging from 9% to 24%.

The vast majority of insured losses associated with Hato were ceded to the international reinsurance market, with only a very small portion retained in the local market. As a result, the net retained losses from Hato, which made landfall in August 2007 as the strongest typhoon to hit Macau in more than half a century, are manageable for local insurers. Although Macau is an affluent city, risk awareness is relatively low. Because of this, personal lines penetration is low, with fairly simple product offerings that meet only basic needs.

Overall, A.M. Best believes the net retained typhoon loss is an earnings event rather than a capital event, as the market is well-capitalized and well-protected by reinsurance. Non-life insurers have experienced stable and profitable performance in the past, and A.M. Best expects these companies will recover their losses from Hato in a couple of years.

For the full copy of this briefing, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=269978.

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.


Contacts

A.M. Best
Christie Lee, +852-2827-3413
Director, Analytics
christie.lee@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

Global Insurance Industry Market Briefing 2018 – ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Insurance Industry Market Global Briefing 2018" report has been added to ResearchAndMarkets.com's offering.


The Global Insurance Services Market Briefing 2018 provides strategists, marketers and senior management with the critical information they need to assess the global insurance services market.

The insurance industry comprises all establishments engaged in insurance and related activities such as underwriting (assuming the risk and assigning premiums) policies, brokerage and reinsurance. The insurance industry is categorized on the basis of the business model of the firms present in the industry.

Asia Pacific was the largest region in the insurance market in 2017, accounting for around 34% market share. Western Europe was the second largest region accounting for around 31% market share. Africa was the smallest largest region accounting for around 1% market share.

Bancassurance is gaining prominence within the insurance intermediation industry. This distribution channel is being used by banks to cross-sell its products and services and generate additional revenue. Bancassurance also benefits the insurance company by providing an exposure to a wider customer base via the bank's distribution network of agents and branches. The adoption of more diversified and enhanced products offered by banks is expected to drive the bancassurance market at a CAGR of nearly 8% to 2019

Scope:

  • Markets Covered: Insurance Providers, Insurance Brokers & Agents, Reinsurance Providers
  • Companies Mentioned: AXA, Assicurazioni Generali, Ping An Insurance, Prudential plc, China Life Insurance, Munich Re, Berkshire Hathaway, Japan Post Group, MetLife
  • Geographic Scope: Asia Pacific, North America, Western Europe, Eastern Europe, South America, Middle East and Africa.
  • Time Series: Five years historic and forecast.
  • Data: Market value in $ billions.
  • Data Segmentations: Regional breakdowns, market share of competitors, key sub segments.
  • Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

For more information about this report visit https://www.researchandmarkets.com/research/49sxkl/global_insurance?w=4.


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T. Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Insurance