SINGAPORE, Jan 28 (Bernama-BUSINESS WIRE) -- AM 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 AM Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). FMGIL’s balance sheet strength is underpinned by its risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), which AM Best expects to remain at the strongest level over the medium term. The company is viewed to have a comprehensive reinsurance programme, which protects its earnings and balance sheet against very high severity catastrophe events in New Zealand, as well as a prudent capital management policy, which has led to a robust buffer in its local regulatory solvency position and AM Best’s view of capital adequacy. A partially offsetting balance sheet factor is the company’s limited financial flexibility, driven by its 100% ownership by Farmers’ Mutual Group (FMG), a mutual organization. AM Best views FMGIL’s operating performance as adequate, with the company having generated a five-year average return on equity ratio of 4.5% (fiscal years 2014-2018). Operating results over this period were driven by investment operations, with the company’s five-year average combined ratio having been at a near breakeven position, largely driven by weather and earthquake events in fiscal years 2016 and 2017. Prospectively, the positive impact of recent premium rate adjustments on underwriting performance and continued robust investment returns are expected to support the maintenance of adequate operating results. AM Best views FMGIL’s business profile as neutral. The company continues to benefit from its position as a leading rural insurer in New Zealand, albeit occupying a relatively small overall market share of 5%, based on 2018 non-life gross written premiums. FMGIL continues to exhibit a strong direct distribution business model, supported by its close relationships with customers and its ownership by FMG, which has a long history and strong brand recognition in New Zealand’s rural sector. Although the company only operates in New Zealand, its premium base is less geographically concentrated when compared with other domestic general insurers as its focus on the rural and provincial sector helps to spread its insured risks across the country. AM Best views FMGIL’s ERM framework as developed and its approach to managing key risks as appropriate given the size and complexity of the company. Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication. This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases. 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/20190125005356/en/ Contact Sin Yee Chuah Associate Financial Analyst +65 6303 5022 [email protected] Myles Gould Associate Director, Analytics +65 6303 5020 [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
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KUALA LUMPUR, Jan 28 (Bernama) – Soka Gakkai International (SGI) president, Daisaku Ikeda, in his 2019 peace proposal published recently, called for concerted effort in disarmament and for the youth to become agents of contagious change.
Entitled ‘Toward a New Era of Peace and Disarmament: A People-centered Approach’, Ikeda asked for progress in the abolition of nuclear weapons around the 2017 Treaty on the Prohibition of Nuclear Weapons (TPNW) to be quickened. According to a statement today, he also stressed the dangers of emerging Lethal Autonomous Weapons Systems (LAWS) and proposed the prompt convening of a conference to negotiate a treaty banning these weapons. He asked for a shift from seeing security solely in terms of state or military, towards one with a human focus in order to build a world with meaningful security. He acknowledged that the complexity of global challenges can make the youth feel that positive change is impossible, but he wants them to resist feelings of resignation and "meet the severe challenges of our age as agents of proactive and contagious change". He called for an expansion of the United Nations Academic Impact (UNAI) network of universities committed to supporting the Sustainable Development Goals (SDGs) and proposed a world conference of such universities in 2020. On the abolition of nuclear weapons, he spotlighted the need to expand the ratification of the TPNW to achieve its entry into force, and urged the creation of a group of like-minded states to deepen the debate and promote it. Looking ahead to the 2020 Review Conference of the Nuclear Non-Proliferation Treaty (NPT), Ikeda called for steps such as the removal of nuclear warheads from high-alert status. He further proposed that a fourth special session of the UN General Assembly devoted to disarmament (SSOD-IV) be held in 2021. For more details on Ikeda’s 37th annual peace proposal, visit www.sgi.org. -- BERNAMA SINGAPORE, Jan 28 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of The New India Assurance Company Limited (New India) (India). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect New India’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management. New India’s balance sheet strength reflects solid risk-adjusted capitalization that is supported by low underwriting leverage and the quality of its investment portfolio. In addition, the company’s capital and surplus is the largest among all non-life insurers in India, standing at INR 386 billion (USD 5.9 billion) as of March 31, 2018. The company’s favorable business profile reflects its solid market position. New India is the largest non-life insurer in India with a 15% share of the market, and is a clear leader in almost every line of business based on gross premium. The company also maintains an underwriting portfolio that is well-diversified by geography and line of business, in India and overseas. Offsetting rating factors include the company’s unsatisfactory underwriting experience in its key lines of business. Competition in the motor and health business, as well as insufficient tariff adjustments for motor third party are the main challenges New India faces in reducing underwriting losses. However, overall results have been positive due to income from its large investment portfolio, which was more than three times its net premium base in fiscal year 2018. Lastly, New India’s capital and surplus level is susceptible to market volatility, as its equity investments amount to approximately 70% of its net worth. Positive rating momentum could result from New India showing a consistent improvement in its underwriting and operating performance, while maintaining its very strong risk-adjusted capitalization. Conversely, negative rating actions could occur if the company’s risk-adjusted capitalization declines to a level below AM Best’s expectations, or if its operating performance deteriorates significantly. Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication. This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases. 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/20190125005359/en/ Contact Tran Nhat Trung Financial Analyst +65 6303 5019 [email protected] Christopher Sharkey Manager, Public Relations +1 908 439 2200, ext. 5159 [email protected] Chi Yeung Lok Director, Analytics +65 6303 5016 [email protected] Jim Peavy Director, Public Relations +1 908 439 2200, ext. 5644 [email protected] Source : AM Best Game-Changing Model will be tested in Paris and New York in 2019
DAVOS, Switzerland, Jan 25 (Bernama-BUSINESS WIRE) -- The Procter & Gamble Company (NYSE:PG) today announced the introduction of reusable, refillable packaging on some of its most popular products as part of a new effort that aims to change the world’s reliance on single use packaging and disposable waste. Additionally, new “collect and recycle” circular solutions that help eliminate waste were also introduced as part of a partnership with LoopTM, a circular e-commerce platform developed by international recycling leader TerraCycle. Many of P&G’s largest global brands, including PanteneTM, TideTM, CascadeTM and Oral-BTM will participate in this innovative platform later this year. This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20190124005087/en/ Loop is a first of its kind global packaging and shopping circular solution which aims to improve the environmental performance and convenience standards compared to current e-commerce solutions through packaging that is collected, cleaned, refilled and reused. Loop also offers the option to collect used products from consumers’ doorsteps for further recycling or reuse. P&G was the first consumer products company to join Loop. Announced at the World Economic Forum Annual Meeting in Davos, Switzerland, this partnership further advances P&G’s Ambition 2030 sustainability goals and the Company’s ongoing commitment to turning sustainable intentions into positive everyday actions. P&G scientists and engineers have developed innovative manufacturing, packaging and distribution solutions that will delight consumers and make sustainable living easy for participating consumers. Eleven P&G brands will be available in Loop in one of three formats. The Loop system will be validated and optimized through real in-market learning experiments beginning in mid-2019 in New York and Paris. Durable Packaging Household favorites such as Pantene, Tide, Cascade and CrestTM have designed new durable and refillable packaging, featuring luxurious containers with new features and functionalities.
“The time to act is now. We are passionate about harnessing the power of our global reach and the strength of our trusted global brands to scale-up more sustainable solutions. Transformative partnerships are key to achieve this mission as no one can succeed alone,” she continued. “We are happy to partner with P&G and other global brands, retailers, infrastructure companies, and the World Economic Forum to create a new way to more responsibly consume products,” said TerraCycle CEO Tom Szaky. “Loop aims to not just eliminate the idea of packaging waste but greatly improve the product experience and the convenience in how we shop. Through Loop, consumers will be able to responsibly consume products in specially-designed durable, reusable or fully recyclable packaging. Through the power and reach of trusted brands such as those of P&G we will be able to change consumers' habits and achieve the scale required for the model to achieve its objectives.” How Loop Works
P&G Products Available via Loop Pantene Our goal is to give more women more Great Hair Days and we are continuously innovating and improving the quality of our products and packages. This important solution can help eliminate packaging waste all together with a shampoo and conditioner bottle that commemorate our love for the oceans and environment. We are partnering with TerraCycle Loop to help move away from disposable plastic bottles to durable bottles and supply chains with refilling systems, where the waste is never created. These unique bottles, made with light but durable aluminum, is designed to be cleaned, refilled and reused as part of the Loop system and is consistent with our overall ambition and our aim to be at the forefront of the industry. Tide We know clean matters – to you, your family and our planet, that’s why we created Tide purclean: the first plant-based laundry detergent with the cleaning power of Tide. This new Tide purclean bottle is made from stainless steel, with a simple durable twist-cap and easy pour spout. When you’re out of detergent, simply put the refillable bottle in your Loop tote, and it will be cleaned, refilled and ready to be used again. Formulated for your whole family, Tide purclean is formulated without dyes and is gentle on sensitive skin. The formula is made at a site that purchases renewable wind power electricity and sends zero manufacturing waste to landfill, making Tide purclean a planet-conscious choice that’s designed with our future in mind. Lighten the load with Tide purclean. Cascade Cascade® is continually looking for ways to make your experience better and to ensure that it’s environmentally friendly with our new ultra-durable packaging. When you’re out of Cascade ActionPacs™, simply put the refillable bottle in your Loop tote, and it will be cleaned, sterilized, refilled and ready to be used again. Cascade Platinum ActionPacs™ clean 24-hour stuck-on food so well, they enable consumers to skip the pre-wash. This can save up to 15 gallons of water per dishwasher load. And, when multiplied by all dishwasher users that pre-wash, this can save up to 150 billion gallons of water each year in the United States alone. Crest Crest is leading the way to a more sustainable innovation for mouthwash. Crest Platinum’s alcohol, peroxide and paraben free formula freshens your breath and helps protect your teeth from stains. Crest Platinum will be available in a beautiful, refillable glass bottle topped with a stainless-steel cap and protected by a silicone sleeve. Replenishment right to consumers’ doors means lugging around heavy mouthwash bottles can be a thing of the past. Now that’s something to smile about. Ariel We know impeccable clean in the most compacted form matters – to you, your family and our planet, that’s why we created Ariel Pods, our most innovative detergent for an impeccable clean. We are now offering a durable Ariel Pods’ family pack you can use again and again. When you’re out of detergent, simply put the refillable pack in your Loop tote, and it will be cleaned, sterilized, refilled and ready to be used again. No more carrying detergent home from the store, and no more packaging to discard once the laundry is done. You can use Ariel 3in1 Pods even at low temperatures and get Ariel’s impeccable clean. Made in France at a site that purchases renewable wind power electricity and sends zero manufacturing waste to landfill, Ariel Pods also contain 70% less water in the formula vs. Ariel liquid detergent and are designed with our future in mind. .Always keep out of reach of children. Febreze Showcasing its continuous commitment to the care for the environment, Febreze makes its latest innovation called Febreze ONE in the US and Zero% in Europe available also via Loop platform as it comes in packaging that is reusable and recyclable. Febreze ONE/Zero% with no propellant and no heavy perfumes can be used both on air & textile (fabric). With its water based formula (90%) and a patented technology, using Cyclodextrin, an ingredient derived from corn starch that traps odors, it doesn’t just mask odors but neutralizes them and eliminates them from the air. Febreze is already part of the TerraCycle recycling program that has recycled more than 1,000,000 pieces of Febreze packaging from landfill around the world. *Source: Internet survey, October 2017 France and United Kingdom, showing 63% of 221 respondents Oral-B Oral-B, the innovation leader in Oral-Care for over 50 years will test circular solutions for both its electric rechargeable and manual toothbrushes. It enters Loop with a breakthrough re-invention of the manual-toothbrush category: Oral-B CLIC, a new iconic design that reduces plastic waste through a durable handle made out of a unique composite material, largely based on premium minerals and equipped with the unique ClicFit™ mechanism that allows consumers to only exchange the brush head. The Loop platform will in parallel recycle used brush heads for both manual and electrical brushes. Gillette For more than 115 years, Gillette has delivered precision technology and unrivalled product performance – improving the lives of over 800 million men around the world. On Gillette Fusion5™ ProShield razor, we will offer a premium razor travel case in place of our traditional packaging, which consumers will be able to keep in addition to their handle. One razor blade refill equals up to one month of shaves, and once guys are ready for new blades, they can return them in their Loop tote to be recycled. Gillette Venus Gillette Venus, the world’s number 1 shaving brand for women takes another step that takes Gillette Venus towards the brand’s vision of 100% recyclable or reusable packaging as well as durable and sustainable product solutions that delight women across the world. Gillette Venus is encouraging the use of durable razor handles and blade supply chains with built-in recycling systems. Introducing our latest innovation – the Venus Platinum Extra Smooth razor. It features the first Venus metal handle, ergonomically designed to boost control during shaving and ensure durability for a long-lasting use in every woman’s beauty routine. The cartridges are made with 5 high-quality blades delivered in a reusable metal tin. When they are ready to be changed, the blades can simply be put in the Loop tote, and Loop will collect and recycle them, while women can order new ones. Pampers and Always Pampers and Always are committed to environmental sustainability and we believe we have a role to play in reducing plastic waste and contributing to a circular economy. We are pioneering a best in class recycling program of hygiene products, including Baby diapers and Feminine Hygiene pads and liners, to give used products a new life. Pampers and Always are the world’s first absorbent hygiene brands that use Fater’s new advanced technology to recycle diapers to higher value applications. Fater is a joint venture of P&G and Angelini and make Pampers and Always in Italy. Within Loop, we will test for the first time this technology with selected consumers in France. A durable and reusable bin for AHPs will be shipped to your doorstep containing Pampers and Always products. The bin has been specifically designed to serve multiple functions - hermetically sealed and with carbon filter to obstruct odor, easy to manipulate with a swivel top for convenience, and aesthetically designed to fit into any home. Simply put your used diapers and pads in. When your bin is full, you can request a pick up so that your bin gets cleaned, sterilized and shipped back to you with new Pampers and Always products. Your used absorbent hygiene products will be directed to recycling facilities for processing. About Procter & Gamble P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®, Tide®, Vicks®, and Whisper®. The P&G community includes operations in approximately 70 countries worldwide. Please visit http://www.pg.com for the latest news and information about P&G and its brands. About TerraCycle TerraCycle is an innovative waste management company with a mission to eliminate the idea of waste®. Operating nationally across 21 countries, TerraCycle partners with leading consumer product companies, retailers, cities, and facilities to recycle products and packages, from dirty diapers to cigarette butts, that would otherwise end up being landfilled or incinerated. In addition, TerraCycle works with leading consumer product companies to integrate hard to recycle waste streams, such as ocean plastic, into their products and packaging. TerraCycle has won over 200 awards for sustainability and has donated over $25 million to schools and charities since its founding 15 years ago. To learn more about TerraCycle or get involved in its recycling programs, please visit www.terracycle.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20190124005087/en/ Contact Becky East Associate Director, H&K Strategies [email protected] +442074933093 Source : Procter & Gamble GOVERNMENT SHUTDOWN - UNITED SIKHS OPENS DOORS OF SIKH CENTERS ACROSS THE NATION FOR ASSISTANCE25/1/2019 UNITED SIKHS – San Jose, California, Jan 25 (Bernama-GLOBE NEWSWIRE) -- UNITED SIKHS has initiated a Temporary National Assistance Program (TNAP) to assist the federal employees impacted by the government shutdown. Today is the 34th day of the shutdown when more than 1,000,000 million federal employees, their families, our fellow countrymen and countrywomen are at the mercy of our elected leaders. Inter-connected industries and society are feeling the aftermath of government inactivity. Every American no matter their race, creed and gender have all been adversely impacted by the federal shutdown. We request elected officials to diligently move forward to end the shutdown as it has dealt a severe blow to not only the economy but the social fabric of the nation. Now is the time for action. As stated by Dr. Martin Luther King Jr., “We are now faced with the fact that tomorrow is today. We are confronted with the fierce urgency of now.”
UNITED SIKHS partners - the Sikh Gurdwaras across the nation, restaurant owners, community centers and other interfaith groups will provide temporary assistance in the form of food items (perishable and non-perishable) and emergency supplies as available and needed. Case managers will be available for assistance and a review of cases on an individual basis. Our case managers can be contacted at our twitter handle @UNITEDSIKHS and by messaging us on our FACEBOOK page. Federal workers are showing up to work dutifully all the while aware they will not receive a paycheck. This is a heartbreaking situation which puts hundreds of thousands of families in peril and limbo. These consequences trickle down from consumerism to mental anguish to bearing a physical toll on one's being. We have started a National Assistance Program that will aid in easing some of the burdens that people are facing due to spillover effects onto our communities, our neighbors, our friends and our family. Click here to view our effort in New London, Connecticut. "This is a great way to carry the Guru's mission forward. We ask everyone to join us in this effort”, stated UNITED SIKHS Community Empowerment Education Director, Dr. Gurparkash Singh. Gurvinder Singh, International Sikh Aid Director UNITED SIKHS said, "Our Sikh principles bound us to be involved, to watch out for our neighbors, to protect and assist anyone in need. It is in our teachings that we derive this internal and external drive to serve anywhere need is needed, it is a part of our DNA". For Assistance: CALL UNITED SIKHS AT 1-888-243-1690 How will the Temporary National Assistance Program (TNAP) campaign work? • Bring your government ID to participating Gurdwaras and Sikh Food Bank locations. Contact us through UNITED SIKHS social media channels. • A warm meal may be served (optional), a pre-packed nutritional care package with food may be provided (optional), some monetary assistance may be available, in certain locations sangat (Sikh community members) or vendors may be able to come drop off requested food items and at other locations fast food options may be available. We urge everyone to donate the following – • Monetary Donations. • Non-Perishable Items. • Water. • Hygiene Products for Men, Women and Children. • Toys. Any non-perishable items not used will be stored for unexpected disasters or donated to other agencies short of resources. Many Gurdwaras across the nation have already joined the program. If your Gurdwara, community center or restaurant is interested in joining the list please reach out to us immediately. If you are an individual that wants to help in any capacity kindly contact UNITED SIKHS by writing to [email protected] . Goods: Langar (“Community Kitchen”), Food Bank Pantry Items, Water, Pre-Paid Cards for Food, Hygiene (Men, Women, Children). Services: Case Manager, Resources (Health (Lifestyle, Fitness, Mental), Legal, Financial, Professional, Informational Services and Support). We appreciate your continued support: Any feedback, suggestions, comments are encouraged and always welcomed. Please click on the links to become a force of action today in your own city and country whether it is to volunteer or donate to our efforts. ABOUT UNITED SIKHS Associated with the United Nations Dept. of Public Information UNITED SIKHS is a global humanitarian charity that advocates for civil and human rights across 10 chapters. Our International Civil & Human Rights Advocacy helps advance the economic, social and spiritual empowerment of minorities and other marginalized groups and individuals in need, regardless of race, religion, gender, sexual orientation, social status, age or ability. We achieve this by protecting and enforcing the civil and human rights of minorities and marginalized groups in the Americas, Europe and Asia. Visit us at www.UNITEDSIKHS.org Attachment Jasmit Singh UNITED SIKHS 1-646-688-3525 [email protected] SOURCE : UNITED SIKHS |
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