Category: International & World

OLDWICK, N.J. — (BUSINESS WIRE) — AM Best Chief Rating Officer Stefan Holzberger will participate in a panel discussion at the International Association of Insurance Supervisors (IAIS) Annual Conference, which will take place virtually Nov. 16-18. Holzberger’s 90-minute session, titled, “Global Monitoring Exercise: A Changing Landscape for the Insurance Sector,” is scheduled for Nov. 17 at 1 p.m. (CET).

This session will highlight conclusions from the IAIS’ assessment of trends and developments in the global insurance market, Global Monitoring Exercise (GME) and the possible build-up of systemic risk. The discussion will also address the impact of low-for-long interest rates on life insurers’ business models, including increased private equity ownership and credit risk.

Holzberger will be joined on the panel by Birny Birnbaum, economic adviser to and executive director of the Center for Economic Justice; Frank Grund, chief executive director, Insurance and Pension Funds Supervision; and Michael McRaith, former director of the U.S. Department of the Treasury’s Federal Insurance Office and vice chair at Brookfield Insurance Solutions. Dieter Hendrickx, chair of the IAIS Macroprudential Committee and head of prudential policy insurance for the National Bank of Belgium, will moderate the discussion.

For more information, please visit the IAIS conference page.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2021 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Kate Smith
Associate Director, Public Relations
+1 908 439 2200, ext. 5817
kate.smith@ambest.com

Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

JERSEY CITY, N.J. — (BUSINESS WIRE) — Global cloud communications company Infobip is pleased to announce that it has been named on the 2021 list for the Best Workplaces for Today’s Youth, Canada.

The list is based on direct feedback from employees of the hundreds of organizations that were surveyed by Great Places to Work™. To be eligible for this prestigious list, organizations must be Great Place to Work-Certified™ in the past year with at least 30% of their employees fitting the Millennial or younger demographic and a minimum 90% positive response to the statement “I am treated fairly regardless of my age.”

Infobip VP and General Manager of North America, Eric Aarrestad stated, “A founding principal at Infobip has been to empower our employees with inspiration, imagination, responsibility, and individual development. Every member of the organization contributes to our overall success and helps us in shaping the future.” Highlighting a dedicated workplace culture that champions ongoing learning and development opportunities as well as premier employee benefits to include healthcare, retirement, and a fitness allowance, Infobip is delighted to celebrate the distinction of being named to the 2021 Best Workplaces list for Youth.

Honored to have previously been named to the list, Infobip North America earned the designation as a Great Places to Work list in 2020.

About Infobip:

Infobip is a global cloud communications platform that enables businesses to build connected experiences across all stages of the customer journey. Accessed through a single platform, Infobip’s omnichannel engagement, identity, user authentication and contact center solutions help businesses and partners overcome the complexity of consumer communications to grow business and increase loyalty. With over a decade of industry experience, Infobip has expanded to 65+ offices across six continents. It offers natively built technology with the capacity to reach over seven billion mobile devices and ‘things’ in 190+ countries connected directly to over 650 telecom networks. Infobip was established in 2006 and is led by its co-founders, CEO Silvio Kutić, Roberto Kutić and Izabel Jelenić.

About Great Place to Work®:

Great Place to Work is the global authority on high-trust, high-performance workplace cultures. Through proprietary assessment tools, advisory services, and certification programs, GPTW recognizes the world’s Best Workplaces in a series of national lists including those published by The Globe & Mail (Canada) and Fortune magazine (USA). Great Place to Work provides the benchmarks, framework, and expertise needed to create, sustain, and recognize outstanding workplace cultures.

Contacts

Janet Lennon

Brand & Communications Expert, Infobip

Direct: 206.914.6175

janet.lennon@infobip.com

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance–In the latest issue of AM Best’s BestWeek, the CEO of Kabul-based Insurance Corporation of Afghanistan, the country’s first and largest insurance company, said in an exclusive interview that he expects his company to keep operating despite the political climate and ongoing chaos.

The withdrawal of U.S. forces after two decades prompted a swift and full takeover of Afghanistan by the Taliban, leading to mass evacuations and fleeing Afghan civilians. With Taliban control, Jamal Asfour, CEO of Kabul-based Insurance Corporation of Afghanistan, said the Middle Eastern country is stuck in political limbo as the international community weighs reaction.

“We see the statements of the Taliban,” said Asfour. “We see that there is a political gap currently in the country, which needs careful attention because this political gap is affecting our insurance industry.” He added that without international recognition, insurance-related restrictions could be placed on major banks, telecom companies or other major organizations operating in Afghanistan.

Asfour, who spoke with BestWeek from Jordan, said for now, his company is restarting operations, and that it work with regulators to ensure all products meet anticipated Shariah requirements. Insurance Corporation of Afghanistan was founded in 2007, and offers individual and business insurance including aviation, business, terrorism and political risk, health insurance, personal accident coverage and medical malpractice lines, among others. AM Best has no credit ratings issued in Afghanistan.

See the full interview in the Aug. 23, 2021, issue of BestWeek, which is published by AM Best for insurance professionals, and is available as part of a subscription to the Best’s News & Research service. More information about the Best’s News & Research subscription service is available at http://www.ambest.com/sales/insurancenewsandresearch.asp. For more information, contact AM Best Customer Service at +1 908 439 2200, ext. 5742 or at +1 800 424 2378 when calling from the United States and Canada.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2021 by A.M. Best Company, Inc. and/or its affiliates.

ALL RIGHTS RESERVED.

Contacts

Patricia Vowinkel
Executive Editor, BestWeek
+1 908 439 2200, ext. 5540
patricia.vowinkel@ambest.com

LONDON — (BUSINESS WIRE) — #insurance—AM Best has assigned a Long-Term Issue Credit Rating of “bbb+” (Good) to the recently issued USD 47 million floating rate subordinated notes, due 2041, of Group Ark Insurance Limited (GAIL) (Bermuda). The outlook assigned to the Credit Rating (rating) is stable. The Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of GAIL remain unchanged.

GAIL is using the proceeds from this 11 August 2021 issuance to support the scale-up of the Ark Insurance Holdings Limited group, including its platform at Lloyd’s and GAIL’s recently established third-party insurance and reinsurance business in Bermuda. AM Best notes that pro forma financial leverage and interest coverage metrics remain at appropriate levels for GAIL’s current ratings.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

William Keen-Tomlinson
Senior Financial Analyst
+44 20 7397 4395
will.keen-tomlinson@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Alex Rafferty, ACA
Associate Director, Analytics
+44 20 7397 0312
alex.rafferty@ambest.com

Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

BERKELEY HEIGHTS, N.J. — (BUSINESS WIRE) — Hayward Holdings, Inc. (NYSE: HAYW) a global designer, manufacturer and marketer of a broad portfolio of pool equipment and associated automation systems, announced today that one of the buildings at its production campus in Yuncos, Spain was affected by a fire. All employees were safely evacuated with no major injuries.

The impacted building manufactures fiberglass laminated filters. No other manufacturing lines on the Yuncos campus (pumps, ladders, lighting, injected filters) were impacted. Production and service of these product ranges started again this morning from Yuncos without interruption.

“We appreciate the quick assistance of the fire department. Employees followed our well-established protocols, I am pleased to say all employees are safe and the impact to our business is not material,” said Kevin Holleran, CEO of Hayward Holdings. “While we investigate the cause of the fire and rebuild to our exacting standards, customers can be assured that we have a full-range of alternative filtration technologies to offer.”

About Hayward Holdings, Inc.

Hayward Holdings, Inc. (NYSE: HAYW) is a global designer, manufacturer and marketer of a broad portfolio of pool equipment and associated automation systems. Hayward designs, manufactures and markets a full line of innovative, energy-efficient pool and spa equipment, with brands including AquaVac®, AquaRite®, ColorLogic®, Navigator®, OmniLogic®, OmniHub™, TriStar®, Super Pump®, TurboCell®, pHin™, CAT Controllers®, HCP Pumps and Saline C® Series.

Contacts

Investor Relations:

Hayward Investor Relations

908-288-9706

investor.relations@hayward.com

Media Relations:

Lisa Wolford

917-846-0881

lwolford@soleburytrout.com

IBX joining with the global community to help provide India with resources to battle the deadly pandemic

PISCATAWAY, N.J. — (BUSINESS WIRE) — #covid19–Today, Infinity BiologiX (“IBX”), a next-generation central laboratory, announced a $50,000 donation to Sewa International and UNICEF USA to assist with on-the-ground humanitarian relief in India, following the deadly surge in COVID-19 infections.

IBX’s support will go toward the procurement and distribution of urgently needed oxygen machines, ventilators, personal protective equipment, testing kits, and packages of daily essentials.

“The pandemic is having a devastating impact in India as COVID-19 outbreaks overwhelm the healthcare system and communities across the country,” said Robin Grimwood, CEO of IBX. “Our hearts go out to the people of India and we are committed to doing our part to help those who are working to provide immediate relief and save lives.”

“As we work to support India during the deadly COVID-19 outbreak, Sewa International is grateful to corporate partners like IBX for standing alongside us. Together, we will work to increase access to critical life-saving medical care and supplies,” said Sandeep Khadkekar, Vice President for Marketing and Fund Development, Sewa International.

About Infinity BiologiX

Infinity BiologiX (IBX) is a market-disrupting next-generation central laboratory supporting academia, government, and industry. IBX provides global sample collection, processing, storage, and analytical services integrated with scientific and technical support in both the research and clinical arenas. As a leader in biomaterials, IBX provides support to the development of diagnostics, therapeutics, and research in the genomics, precision, and regenerative medicine arenas. IBX previously operated as RUCDR Infinite Biologics before spinning off from Rutgers University-New Brunswick in August 2020. For more information, visit www.ibx.bio.

About Sewa International

Sewa International (www.sewausa.org) is a 501 (c)(3) Hindu faith-based charitable nonprofit that works in the areas of disaster recovery, education, and development. Sewa has 43 Chapters across the USA and serves regardless of race, color, religion, sex, age, disability, or national origin. IBX’s connection to Sewa USA was facilitated by PhiladelphiA RAjasthan Mandal (PARAM), a local body of volunteers within the Bharatiya Cultural Center of Philadelphia.

About UNICEF USA

The United Nations Children’s Fund (UNICEF) works in more than 190 countries and territories to pursue a more equitable world for every child. UNICEF USA advances the global mission of UNICEF by rallying the American public to support the world’s most vulnerable children. Together, they are working toward a world that upholds the rights of all children and helps every child thrive. For more information visit unicefusa.org.

Contacts

IBX Contacts:
Media: Judy Hopkins

judy@infinity-biologix.com