KUALA LUMPUR, May 23 (Bernama) -- Sun Yat-sen University and Ocean University of China recently held the Development of China-ASEAN Mariculture Industry Development Forum and ‘Seaweed Cooperation Workshop’ in Zhuhai, China.
(Mariculture is a specialised branch of aquaculture involving the cultivation of marine organisms for food and other products in the open ocean) The conference was attended by 39 international representatives from 28 bodies, including Indonesia, Malaysia, Philippines, Thailand, Vietnam, Cambodia and other ASEAN countries and International organisations. According to a statement, more than 300 representatives from 100 educational, scientific and corporation units in China also attended the event. Malaysian representatives, University of Malaya and Universiti Malaysia Terengganu also attended the seaweed cooperation workshop. The meeting discussed the current situation and development tendency of mariculture development in China and ASEAN, while also launched the ‘Declaration on Seaweed Cooperation’. The declaration is a solid foundation for further promoting China-ASEAN cooperation in areas such as seaweed, especially in the joint laboratory construction, science and technology cooperation, talent training, technology demonstration and industrial cooperation. -- BERNAMA
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KUALA LUMPUR, May 15 (Bernama) -- Teledyne DALSA, a Teledyne Technologies company and global leader in machine vision technology, has announced that its newest charge-domain CMOS TDI camera, the Linea HS, is in volume production. “Multi-array TDI technology provides cutting-edge performance for today’s demanding vision applications. Various selectable stage combinations of both arrays enable best imaging results to meet different application requirements,” said senior product manager, Xing-Fei He. The 16k camera offers 300 kHz line rate or 5 GPix/sec data throughput for high-performance imaging applications such as flat panel display, PCB and wafer inspection, gene sequencing, digital pathology and web inspection. The key features include mono/HDR imaging with single or dual outputs; low noise and high sensitivity; active pixel assisted alignment; camera Link HS fibre optic interface for high reliability and long cable data transmission and lower system costs. Teledyne DALSA is a part of the Teledyne Imaging group and leader in the design, manufacture and deployment of digital imaging components for machine vision. For more information, contact http://www.teledynedalsa.com/en/home. -- BERNAMA KUALA LUMPUR, Malaysia, May 27 (Bernama-BUSINESS WIRE) -- Fusionex Founder and Group CEO Dato’ Seri Ivan Teh has been conferred an Honorary Fellowship of the Malaysian Oil Scientists’ and Technologists’ Association (MOSTA) in recognition of his distinguished contributions to the palm oil industry.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/51985909/en Teh received the honor at a presentation ceremony held during the ‘Future of Palm Oil Industry’ event in Kuala Lumpur. Teh was presented the honor by MOSTA President Tan Sri Datuk Dr Augustine Ong Soon Hock and witnessed by the Malaysian Minister of Primary Industries YB Teresa Kok Suh Sim, who presented the keynote address. The event included knowledge sharing sessions that focused on the digitalization and modernization of the palm oil industry using cutting-edge technologies such as Artificial Intelligence (AI) and Industry Revolution (IR) 4.0. Various subject matter experts including those from Fusionex spoke to over 100 palm oil industry players, leaders, researchers, and scientists on how Blockchain, Trade Facilitation, and other such technologies could help revolutionize the palm oil sector. Fusionex Founder & Group CEO Dato’ Seri Ivan Teh said, “I am honored and grateful for having been conferred this award by MOSTA. The palm oil industry is such a vibrant and growing sector with immense potential. As with any field, there are always challenges and opportunities. We at Fusionex are committed to help the palm oil industry continuously improve and excel through the use of effective technology. To that end, we are truly excited and passionate to be working with great partners like MOSTA as well as many industry players to uplift the standard, quality, productivity, and efficiency of the palm oil industry.” MOSTA President Tan Sri Datuk Dr Augustine Ong Soon Hock said, “MOSTA appreciates the contribution of Dato' Seri Ivan Teh for initiating the application of AI to the palm oil industry through his invention in the milling process and proposed marketing of palm oil. His suggestions on a smart plantation, smart milling, and smart down-streaming of palm oil will enhance the future of the palm oil industry. He is blazing these new paths with up-to-date knowledge and facilities coupled with an excellent presentation.” About Fusionex Fusionex is an established multi-award winning data technology provider specializing in Analytics, Big Data, IR 4.0, Machine Learning, and Artificial Intelligence. Its offerings are focused on helping clients unlock value and derive insights from data. Featured on Forbes, Bloomberg, Gartner, IDC, Forrester, Edison and Huffington Post, Fusionex is the largest Big Data Analytics company and market leader in ASEAN, bringing state-of-the-art, innovative and breakthrough data-driven platforms to its stable of clientele (including Fortune 500, FTSE companies, large conglomerates as well as a wide array of small and medium enterprises (SMEs)) that spans across the United States, Europe as well as Asia Pacific. Gartner’s 2018 report on Modern Analytics and Business Intelligence shortlisted and commended Fusionex’s data technology platform. In addition, Fusionex has been as identified as a Major Player in IDC’s MarketScape Report for Big Data & Analytics. Fusionex is the only ASEAN-based company to be featured in both reports, cementing its credentials in the data technology market for this region. To learn more about Fusionex, visit www.fusionex-international.com About MOSTA MOSTA (Malaysian Oil Scientists’ & Technologists’ Association), an NGO (non-profit organization) was inaugurated on 7 September 1989 with aims to promote the advancement in science, technology, and commerce of oils and fats. MOSTA’s mission is to be the leading non-profit organization in the Asia Pacific region in the advancement of science, technology, quality, and trade matters related to oils and fats including other lipid associated substances. To learn more about MOSTA, visit http://mosta.org.my/ View source version on businesswire.com: https://www.businesswire.com/news/home/51985909/en Contact Media Contact: Angie Lim [email protected] Source : Fusionex KUALA LUMPUR, May 23 (Bernama) -- Asahi Pretec, a precious metal recycling company has selected smartTrade Technologies as technology provider to deliver its next generation precious metal trading platform, with NTT Data as a partner.
Under the initiative, smartTrade, a global leader in multi-asset, end-to-end trading solutions will provide connectivity to the markets, pricing and distribution as well as risk and post-trade management. “smartTrade’s sophisticated hosted solution will provide low latency connectivity, high flexibility and customisable pricing and distribution, which in turn will enhance Asahi’s offering,” said smartTrade chief executive officer, David Vincent. Asahi Pretec was searching for a solution that would allow the company to expand its operations and be flexible enough to accommodate existing and future businesses as well as regulatory requirements. “Not only does smartTrade’s high quality proven technology comprehensively address our specific business needs, it also ensures a fast and quick time to market,” said Asahi Pretec president, Hiroyuki Nakanishi. For more information, contact https://www.smart-trade.net or https://www.asahiholdings.com. -- BERNAMA NAGOYA, Japan, May 24, 2019 /Kyodo JBN- AsiaNet/ -- - Launch Features Initial Introduction of Menicon Bloom Night, First and Only CE-approved Orthokeratology Contact Lens in Europe for Myopia Control - Menicon Co., Ltd. announced on May 24 the launch of the Menicon Bloom Myopia Control Management System, a holistic approach for myopia control management. The launch features the initial introduction of Menicon Bloom Night, an orthokeratology contact lens therapy for myopia control management. (Logo: https://kyodonewsprwire.jp/img/201905216625-O1-4k0Q106r) Myopia, also known as near- or short-sightedness, is the most common refractive error and the major cause of vision impairment worldwide. It affects approximately 30% of the world's population and its prevalence has been forecast to affect about 50% of the world's population by 2050. The prevalence of myopia in young adolescents has been increasing in recent decades to about 30% in industrialized societies of the West and epidemic levels of over 90% in some parts of Far East Asia. Globally, it is recognized as a significant public health concern associated with increased ocular-related morbidity and considerable healthcare costs. Menicon Bloom Night therapy involves the overnight wear of a specially designed reverse geometry orthokeratology contact lens, manufactured in hyper oxygen-permeable Menicon Z rigid material that ensures optimal corneal oxygenation for comfortable and safe contact lens wear. The treatment temporarily changes the shape of the cornea, which results in reduction of refractive error, thus eliminating the need to wear contact lenses throughout the waking hours after lenses are removed. The new corneal shape provides a particular optical path for incoming light that counters the ocular growth response associated with myopia development. Through this mechanism, Menicon Bloom Night is indicated for the correction of refractive myopia and for control of myopia when prescribed and managed by a qualified eye care professional. Menicon Bloom Night contact lenses have been reviewed and validated via numerous comprehensive, peer-reviewed studies related to myopia control management. Menicon Bloom Night therapy has proven to be well accepted by parents and to improve children's self-esteem in terms of physical appearance, participation in activities, academic performance and peer perception. With the accumulation of long-term and comprehensive scientific evidence over the years, Menicon Bloom Night has met the highest standards of safety, efficacy and quality required to grant the treatment CE approval for myopia control management in Europe. The fitting of Menicon Bloom Night is optimized by the use of Easyfit software, a sophisticated, user-friendly tool which accurately guides the eye care professional through the fitting process. Additionally, a specially designed mobile phone application, Menicon's Virtual Dr., has been developed to enhance the monitoring and communication process between eye care professionals and patients. Menicon Bloom Night is only available for certified eye care professionals. With the launch of this groundbreaking myopia care therapy, Menicon has become one of the few companies to have devices officially approved for myopia control management in Europe and demonstrates the company's continued commitment to the field of myopia control. Menicon Bloom Night will be launched initially in The Netherlands, followed soon thereafter with launches in other European markets. Further information about the product and availability will be forthcoming soon. Dr. Hidenari Tanaka, CEO, Menicon Co., Ltd., commented: "We are delighted with the major breakthrough achieved with the approval and launch of our Menicon Bloom Myopia Control Management System. We are confident that our continuing commitment to myopia control management will position Menicon as a key contributor in this field and strengthen our position as a global vision care company. It is our belief that the growing prevalence of worldwide myopia progression requires a comprehensive and educated response and we have identified this as a major initiative within our development programs. As a pioneer of contact lenses, we will develop our myopia control business based on our accumulated technology, products and services and contribute to society by supporting eye care professionals in managing the fast growing incidence of myopia." About Menicon: Menicon Co., Ltd. (7780: Tokyo), founded by Mr. Kyoichi Tanaka in 1951, is Japan's first and largest contact lens manufacturer, and now is represented in over 30 countries. Menicon is a manufacturer dedicated to all areas of soft and gas-permeable contact lens-related businesses, including manufacture, sales, export and import of contact lenses and other medical goods; manufacture and sales of medical instruments; sales of medical supplies; and research and development of intraocular lenses. For more information, visit www.menicon.com. *"Bloom", "Bloom Night", "Menicon Z" and "Easyfit" are trademarks of Menicon Co., Ltd. http://mrem.bernama.com/viewsm.php?idm=34622 KUALA LUMPUR, May 17 (Bernama) -- Themed ‘Beautiful Hengshui, Bright Future’, the 2019 IMSA World Masters Championship (Hengshui) which was recently held in China, saw ‘super brains’ of world board and card games.
The international A-level event was hosted by the International Mind Sports Association (IMSA). It was organised by the Board and Card Games Administrative Center of the General Administration of Sport of China; Hebei Provincial Sports Bureau; and, Hengshui Municipal People's Government. The event consists of five sports, namely, Bridge, Chess, Draughts, Go and Xiangqi with 17 disciplines and 99 gold, silver and bronze medals. A total of 240 professional top players and officials from 49 countries and regions gathered in Hengshui to fight for the title over five days, beginning May 13. -- BERNAMA Company Also Announces General Availability of Teridion for Enterprise, the Unique and Innovative Public Cloud-Based WAN Service Delivering Carrier Grade Performance
SAN FRANCISCO, May 24 (BUSINESS WIRE) -- Teridion, the company delivering the only global public cloud-based WAN service, today announced its deep integration with Cisco Meraki MX Security and SD-WAN appliances. The combined solution is a bold new approach to branch networking, delivering the industry-leading Auto VPN and SD-WAN capabilities of Cisco Meraki’s MX appliances with Teridion’s high throughput and low latency public cloud-based WAN service. For the first time, enterprises can take advantage of a WAN solution that has visibility and control of first, middle, and last mile of the Internet and extends SD-WAN and WAN acceleration beyond enterprise sites to include SaaS applications and enterprise cloud workloads across multiple public cloud providers. Today’s announcement highlights the new, seamless network level integration between Teridion’s high performance cloud WAN service and Cisco Meraki’s easy-to-use Auto VPN routing and high availability capabilities. Enterprise of all sizes can expect real-time applications such as voice and video to see latency improvements of up to 30 percent and file transfer throughput increases of up to 500 percent. As always, the Cisco Meraki and Teridion solution is secured with Cisco’s market-leading security capabilities and managed in the cloud. The Teridion cloud WAN service is a simple, snap-in integration with Cisco Meraki MX enterprise security and SD-WAN appliances that brings carrier grade Internet and WAN performance to broadband and dedicated Internet access connections. Teridion is available at a fraction of the cost of carrier circuits, and is backed with an SLA. Partners that offer the combined Cisco Meraki and Teridion solution will be able to engage more opportunities and offer a compelling new service to their installed base. “This news is tremendous validation for the differentiated WAN offering we launched late last year,” said Pejman Roshan, VP of Products and Marketing for Teridion. “We have been working closely with Cisco Meraki on this deep integration, and together the combined solution makes it easy to deploy a secure and high performance WAN that is 100-percent cloud managed. Together, Cisco Meraki and Teridion enable businesses with regional, nationwide, or global WANs to drastically improve the performance of business critical applications, whether they are hosted in corporate data centers, SaaS applications, or deployed across various cloud providers.” “As enterprises prepare for a cloud-ready application environment, they are laser focused on providing the best application performance for staff and customers in remote locations and branch offices,” said Raviv Levi, director of product management at Cisco Meraki. “The combined Cisco Meraki and Teridion solution offers rich SD-WAN and security capabilities at the WAN edge that are tightly integrated with a high performance and cost-effective WAN service delivered over cost-effective broadband or dedicated Internet access. This brings better reliability and consistency to the enterprise WAN across multiple sites, as well as high performance access to all SaaS applications and cloud workloads.” Teridion also announced today the general availability of Teridion for Enterprise, the industry’s first solution that eliminates the reliability and performance gap introduced by the reliance on the public Internet middle-mile and exposed by the massive shifts to the cloud and SD-WAN. By tightly integrating with a leading SD-WAN solution such as the Cisco Meraki SD-WAN, Teridion unites centralized cloud management, enterprise-grade security, and ultra-fast WAN performance in a single, tightly integrated offering. As a result, enterprises leverage a solution that is optimized for delivery performance, reliability, control, and visibility end to end across the public Internet. Teridion’s public cloud-based WAN service is powered by Teridion Curated Routing, an innovative and cloud native approach to routing that draws on the power of deep learning and brings hierarchical and centralized routing to enterprise networking. Teridion Curated Routing radically improves WAN, application, and SaaS performance. Originally launched delivering interoperability with today’s most popular SD-WAN offerings, today’s announcement marks the first deep, end-to-end integration with a leading SD-WAN solution. Learn more about Teridion’s deep integration with Cisco Meraki in the Cisco Meraki Marketplace at https://apps.meraki.io/details/teridion-for-enterprise/, or at teridion.com/meraki. Availability and Pricing Teridion for Cisco Meraki is available today from authorized Teridion resellers. Pricing starts at $50 per site per month. More details about how to buy can be found at https://www.teridion.com/meraki. About Teridion Founded in 2013, Teridion enables faster and more reliable Internet with Teridion Curated Routing, radically improving Internet performance up to 2X - 20X, anywhere in the world. Teridion for Enterprise combines the performance, reliability, and SLAs of legacy WAN technologies such as MPLS with the agility and elastic scalability of the cloud. The company is backed by leading venture investors including Jerusalem Venture Partners, Magma Venture Partners and Singtel Innov8, and is relied on by leading SaaS providers such as Atlassian, Box, Egnyte, Merrill Corp., and many others. Teridion is headquartered in San Francisco, with international offices in Petah Tikva, Israel. For more information, visit www.teridion.com or email [email protected]. Teridion is a registered trademark of Teridion in the United States and other countries. All rights reserved. All other company and product names are either trademarks or registered trademarks of their respective companies. View source version on businesswire.com: https://www.businesswire.com/news/home/20190523005161/en/ Contact Dan Spalding [email protected] (408) 960-9297 Source : Teridion – An Accomplished Leader, Larsson’s Appointment Further Strengthens PVH Senior Leadership Team and Establishes Strong Management Succession Planning –
NEW YORK, May 23 (Bernama-BUSINESS WIRE) -- PVH Corp. [NYSE:PVH], one of the world’s largest apparel companies and owner of iconic brands, including CALVIN KLEIN, TOMMY HILFIGER, Van Heusen, Speedo, and IZOD, announced today the appointment of Stefan Larsson to the newly created role of President, PVH Corp. effective June 3, 2019. Mr. Larsson will have the responsibility for managing PVH’s branded businesses and regions, with each of the three brand CEOs and the Regional Presidents reporting to him. He will report to Emanuel Chirico, PVH’s Chairman and Chief Executive Officer. In connection with this announcement, Mr. Chirico signed a new five-year employment agreement with the Company. This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20190521005894/en/ PVH Presiding Director, Henry Nasella commented that “With the signing of Manny’s new employment agreement and the hiring of Stefan in the newly created role of President, we believe that PVH is extremely well-positioned from a leadership and a management succession perspective to continue to execute our strategic plans well into the future.” Mr. Larsson was most recently Chief Executive Officer of Ralph Lauren Corp., where he successfully refocused the company on what made it iconic, improved its performance and set the path for future growth. Prior to that, Mr. Larsson served as the Global President of Old Navy, a division of Gap Inc., and helped Old Navy deliver 12 consecutive quarters of profitable growth, adding $1 billion in profitable sales. Over nearly 15 years, Mr. Larsson was part of the team that grew Swedish retailer Hennes & Mauritz (H&M) sales from $3 billion to $17 billion and expanded the company’s operations from 12 to 44 countries. “Stefan’s talent and operational track record make him a strong addition to the PVH senior management team,” said Emanuel Chirico, Chairman and CEO. “He is highly regarded for his strategic focus, proven leadership and global experience in driving transformation and brand building in an increasingly dynamic and ever-changing consumer landscape. As our President, I am confident that Stefan is uniquely qualified to help fuel our global growth by successfully leading our brands and regions to execute against our strategic priorities, and deliver consistent top and bottom line growth and returns to our stockholders.” Stefan Larsson commented, “PVH is an exceptional company and owns some of the most iconic global lifestyle brands. I have long admired what Manny and the PVH management team have achieved, with a history of successful, transformative acquisitions, exceptional brand building, reinvention and innovation, strong operating platforms and connection to its consumers. I look forward to contributing to the power of PVH and partnering with the entire leadership team to drive the business forward.” About PVH Corp. PVH is one of the most admired fashion and lifestyle companies in the world. We power brands that drive fashion forward – for good. Our brand portfolio includes the iconic CALVIN KLEIN, TOMMY HILFIGER, Van Heusen, IZOD, ARROW,Speedo*, Warner’s, Olga and Geoffrey Beene brands, as well as the digital-centric True & Co. intimates brand. We market a variety of goods under these and other nationally and internationally known owned and licensed brands. PVH has over 38,000 associates operating in over 40 countries and $9.7 billion in annual revenues. That’s the Power of Us. That’s the Power of PVH. *The Speedo brand is licensed for North America and the Caribbean in perpetuity from Speedo International Limited. SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Forward-looking statements in this press release, including, without limitation, statements relating to the Company’s future plans, strategies, objectives, expectations and intentions are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not be anticipated, including, without limitation, (i) the Company’s plans, strategies, objectives, expectations and intentions are subject to change at any time at the discretion of the Company; (ii) the Company may be considered to be highly leveraged and uses a significant portion of its cash flows to service its indebtedness, as a result of which the Company might not have sufficient funds to operate its businesses in the manner it intends or has operated in the past; (iii) the levels of sales of the Company’s apparel, footwear and related products, both to its wholesale customers and in its retail stores, the levels of sales of the Company’s licensees at wholesale and retail, and the extent of discounts and promotional pricing in which the Company and its licensees and other business partners are required to engage, all of which can be affected by weather conditions, changes in the economy, fuel prices, reductions in travel, fashion trends, consolidations, repositionings and bankruptcies in the retail industries, repositionings of brands by the Company’s licensors, and other factors; (iv) the Company’s ability to manage its growth and inventory, including the Company’s ability to realize benefits from acquisitions, such as the pending acquisitions identified in this press release; (v) quota restrictions, the imposition of safeguard controls and the imposition of duties or tariffs on goods from the countries where the Company or its licensees produce goods under its trademarks, any of which, among other things, could limit the ability to produce products in cost-effective countries, or in countries that have the labor and technical expertise needed; (vi) the availability and cost of raw materials; (vii) the Company’s ability to adjust timely to changes in trade regulations and the migration and development of manufacturers (which can affect where the Company’s products can best be produced); (viii) changes in available factory and shipping capacity, wage and shipping cost escalation, civil conflict, war or terrorist acts, the threat of any of the foregoing, or political or labor instability in any of the countries where the Company’s or its licensees’ or other business partners’ products are sold, produced or are planned to be sold or produced; (ix) disease epidemics and health related concerns, which could result in closed factories, reduced workforces, scarcity of raw materials and scrutiny or embargoing of goods produced in infected areas, as well as reduced consumer traffic and purchasing, as consumers become ill or limit or cease shopping in order to avoid exposure; (x) acquisitions and divestitures and issues arising with acquisitions, divestitures and proposed transactions, including, without limitation, the ability to integrate an acquired entity or business into the Company with no substantial adverse effect on the acquired entity’s, the acquired business’s or the Company’s existing operations, employee relationships, vendor relationships, customer relationships or financial performance, and the ability to operate effectively and profitably the Company’s continuing businesses after the sale or other disposal of a subsidiary, business or the assets thereof; (xi) the failure of the Company’s licensees to market successfully licensed products or to preserve the value of the Company’s brands, or their misuse of the Company’s brands; (xii) significant fluctuations of the U.S. dollar against foreign currencies in which the Company transacts significant levels of business; (xiii) the Company’s retirement plan expenses recorded throughout the year are calculated using actuarial valuations that incorporate assumptions and estimates about financial market, economic and demographic conditions, and differences between estimated and actual results give rise to gains and losses, which can be significant, that are recorded immediately in earnings, generally in the fourth quarter of the year; (xiv) the impact of new and revised tax legislation and regulations, particularly the U.S. Tax Cuts and Jobs Act of 2017 that might disproportionately affect the Company as compared to some of its peers due to the specific tax structure of the Company and its greater percentage of revenues and income generated outside of the U.S., and the legislation enacted in the Netherlands known as the “2019 Dutch Tax Plan”; and (xv) other risks and uncertainties indicated from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). The Company does not undertake any obligation to update publicly any forward-looking statement, whether as a result of the receipt of new information, future events or otherwise. View source version on businesswire.com: https://www.businesswire.com/news/home/20190521005894/en/ Contact PVH Corp. Dana Perlman Treasurer, Senior Vice President, Business Development and Investor Relations (212) 381-3502 [email protected] Source : PVH Corp. HONG KONG, May 23 (Bernama-BUSINESS WIRE) -- Japan’s non-life insurers are facing pressure to rebuild catastrophe reserves amid rising reinsurance costs that follow a catastrophe loss-heavy year in 2018, according to a new AM Best market segment report.
Last year marked a record for natural disasters in Japan as a series of events resulted in significant insured losses, the costliest being Typhoon Jebi. In the new Best’s Market Segment Report, titled, “Japan Non-Life Insurers Focus on Profitability,” AM Best states that because of the disasters, Japan’s non-life carriers released a sizeable portion of their catastrophe reserves. The amount of catastrophe reserves released by Japan’s three non-life insurance giants—Tokio Marine & Nichido Fire Insurance Co. Ltd., MS&AD Insurance Group Holdings, Inc., and Sompo Japan Nipponkoa Insurance Inc.— in the third quarter of fiscal-year 2018 (October-December) totaled approximately JPY340 billion (USD3.07 billion). These reserve releases represented a 13% net reduction of the insurers’ overall catastrophe reserves balance. The vast majority of these reserve releases came from the fire and allied line, and as a result, catastrophe reserves for this line declined by nearly 40%. Those total catastrophe reserve releases were comparable in scale to the amounts released in fiscal-years 2011 and 2012, attributable predominantly to the Tohoku earthquake, the costliest earthquake-related insured loss in Japan’s history. The report also states that some insurers’ lower wind/flood catastrophe excess-of-loss layers were exhausted after typhoons Jebi and Trami in 2018. As a result, insurers needed to pay the reinstatement premium for restoring the layer limit after the first loss event. Some also needed to purchase back-up reinsurance cover after Typhoon Trami to reinforce their lower-layer protection and cover any additional losses from potential winter snowstorms. These extra reinsurance costs were instrumental in a slight deterioration in the underwriting results of Japan’s non-life insurers in 2018, after the release of catastrophe loss reserves. “In the wake of the 2018 catastrophe losses, this year’s 1 April renewal season reflected some relatively steep price hikes, particularly in catastrophe excess-of-loss covers for Japanese wind exposures,” said Christie Lee, director of analytics. “Although specific rate increments varied among insurers, depending on the level of loss, their reinsurance portfolios, and their relationships with reinsurers, Japan’s domestic non-life insurance companies generally faced higher reinsurance costs.” Overall, AM Best views the capitalization of Japan’s major non-life insurers as robust and resilient to underwriting or economic challenges. AM Best expects Japan’s domestic insurance companies to remain focused on operating profitability over the medium term — underpinned by primary rate hikes in catastrophe loss-impacted lines of business, a stable book of voluntary automobile insurance and robust investment returns. Due to these factors, AM Best’s market segment outlook of Japan’s non-life insurance industry remains stable. Over the last few years, Japan’s major non-life players have embarked on global expansion at an accelerated pace, seeking risk diversification. With regard to a change in companies’ risk profiles, AM Best views adopting a holistic approach to capital and catastrophe risk management remains crucial for the major Japan non-life insurersin the event of unforeseen catastrophe losses or amid challenging post-event market conditions. To access the full copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=285676. 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/20190521005776/en/ Contact Christie Lee Director, Analytics +852 2827 3413 [email protected] Jason Shum Associate Director, Analytics +852 2827 3424 [email protected] Christopher Sharkey Manager, Public Relations +1 908 439 2200, ext. 5159 [email protected] Jim Peavy Director, Public Relations +1 908 439 2200, ext. 5644 [email protected] Source : AM Best KUALA LUMPUR, May 21 (Bernama) -- Agrobank, a leader in agriculture financing and value-based banking recently organised ‘Program Kasih Ramadan’, to entertain ‘asnaf’ (underprivileged) children from the Pertubuhan Baitul Ehsan Al-Khairi.
The programme included a financial management talk, visit to the Bank Negara Museum and Art Gallery, shopping session for Raya preparation and a breaking fast session at Sunway Putra Hotel. “Program Kasih Ramadan is an annual CSR (corporate social responsibility) programme in the month of Ramadan organised by Agrobank to fete ‘asnaf’ children and help them make preparations for the Hari Raya,” said president / chief executive officer, Syed Alwi Mohamed Sultan. “This year, we included a session on financial management to educate children on how to manage money. This is important because we make money decisions everyday when we purchase things and do transactions,” he added. The programme has been held since 2017 and for this year, it entertained a total of 76 children with the participation of 20 volunteers comprising Agrobank staff. For more information, contact http://www.agrobank.com.my. -- BERNAMA |
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