KUALA LUMPUR, June 22 (Bernama) -- Resolution Life, the long-term legacy life insurance solutions provider, announced that its Bermudian reinsurance platform, Resolution Re, has entered into a reinsurance agreement with The Dai-Ichi Life Insurance Company, Limited (Dai-Ichi Life) that transfers a closed book of whole of life policies with JPY150 billion (~US$1.5 billion) in total liabilities. (US$1 = RM4.397)
According to a statement, the agreement relates to coverage for market risks and insurance risks. Nardeep Sangha, CEO of Resolution Life New Markets said: “This is an important transaction for Resolution Life, our first in Japan and the first since we opened our office in Singapore. “The Japanese and broader Asian markets have potential for significant growth and our global experience, regional strategic relationships and aligned business model leave us well positioned to benefit.” Meanwhile, Steve Hales, CEO of Resolution Re said: We are delighted to help Dai-Ichi Life serve its policyholders, while allowing the business to focus on its growth strategy. The collaboration between our two teams allowed us to execute this innovative transaction effectively and we look forward to working together to meet policyholder commitments.” Dai-Ichi Life will continue to service the reinsured business, while Resolution Re and Dai-Ichi Life will work together to successfully manage the reinsured policies for the benefit of policyholders. Earlier this year Resolution Life announced the formation of its Representative Office in Singapore, as the first step for Resolution Life to establish itself in Asia, where it will grow its portfolio by supporting the primary life insurance industry. The transaction marks a busy period of M&A for Resolution Life, following the signing of reinsurance agreements with Lincoln National Corporation, Allianz Suisse and Allianz Life North America and the acquisition of AIA Australia’s Superannuation & Investments business. -- BERNAMA
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KUALA LUMPUR, June 22 (Bernama) -- SoftBank Group Corp (SoftBank) announced that Alex Clavel, currently Managing Partner at SoftBank Group International (SBGI), has been appointed Chief Executive Officer of SBGI, effective June 30, 2022.
According to a statement, Clavel will succeed Michel Combes, who has decided to leave SoftBank to pursue new opportunities. Clavel will bring seven years of leadership experience at SoftBank across Tokyo, Silicon Valley and New York to the role, in which he will oversee SBGI’s operations and investment portfolio, including its stakes in Boston Dynamics, SoFi, Fortress, T-Mobile, Arm, among other portfolio companies. Together with the SoftBank Vision Funds, SBGI is responsible for all SoftBank Group Corp activities outside of Japan, including across Europe, the U.S., Asia and Latin America. Masayoshi Son, Representative Director, Corporate Officer, Chairman & CEO of SoftBank Group Corp said: “Building on more than two decades of experience in corporate development and investing Alex has long been a trusted leader at SoftBank in multiple locations around the globe. “I am confident that his experience – combined with the strong SoftBank team around him – will serve us well as we continue our journey as Vision Capitalists. “I want to thank Michel for his crucial contributions to SoftBank over the past five years. He has played a critical role in some of our most important investments and assets, and I wish him all the best with his future plans.” Meanwhile, Clavel said: “I am honoured by the trust Masa has placed in me to lead SBGI and am fortunate to have worked alongside Michel. I am excited to build on our success and for what’s to come.” Prior to joining SoftBank, Clavel spent 19 years at Morgan Stanley in investment banking, where he focused on technology, media and telecom M&A. He graduated from Princeton University and speaks French, Japanese and Mandarin Chinese. More details at https://group.softbank/en. -- BERNAMA Utsav Garg appointed as Managing Director and Head of the Southeast Asia and Australia business unit
SINGAPORE, June 22 (Bernama-BUSINESS WIRE) -- Leading global professional services firm Alvarez & Marsal (A&M) has launched a new business unit in Southeast Asia and Australia (SEAA), headed by recently appointed Managing Director, Utsav Garg. A&M’s SEAA business unit demonstrates the firm’s commitment to and investment in expanding its geographic footprint across Asia Pacific (APAC) in response to growing market demand. The SEAA business unit ensues from A&M’s year of double-digit global growth and incorporates multiple capabilities across the firm including Private Equity Performance Improvement, Corporate Transformation, Restructuring & Turnaround and Disputes and Investigations. SEAA represents the next phase of the firm’s Asia Pacific expansion strategy by aligning its Singapore, Indonesia, Malaysia and Australia offices and setting the foundation for a future office in Vietnam. Mr. Garg brings more than 20 years of experience in large scale transformation programs to his role at A&M. In addition to building and leading the SEAA business unit, he will advise clients on sustained growth and profitability improvement across various industries, including consumer goods and retail, telecommunications, information and communications technology (ICT), healthcare, logistics and process industries. Prior to joining A&M, Mr. Garg served as Managing Partner for Kearney’s Southeast Asia business across four offices. In that role, he grew the company’s business multi-fold in the region. He has also held sales and brand leadership positions with Unilever. Bryan Marsal, Co-founder of Alvarez & Marsal, said, “A&M has seen growing demand from both private equity and corporates in Asia Pacific. Our SEAA business unit is the strategic extension of our presence across North Asia and India and will be critical to our growth in this expanding market. Utsav and his team will provide the unique blend of industry operator expertise and the bias towards action that A&M is known for around the world and in the region.” Luis de Lucio, Managing Director and A&M’s Head of Emerging Markets and APAC, said, “Southeast Asia and Australia are key markets for us and pivotal to our ability to help regional and international clients solve for complex problems. Utsav’s proven track-record of delivering results dovetails with our operational heritage and driving change mindset. Alongside our investment to scale up A&M’s APAC presence, Utsav’s in-depth market knowledge will bolster our integrated approach and offering across the region.” Mr. Garg said, “Our SEAA business unit represents a new and exciting growth chapter for the firm. A&M’s global capabilities, legacy of operational excellence and commitment to maximizing value will help Southeast Asia and Australia-based clients navigate challenges and seize opportunities. The firm’s history of solving for the complex problems facing corporates, boards, private equity firms and government agencies furthers our ability to create value across the value chain for clients. About Alvarez & Marsal Companies, investors and government entities around the world turn to Alvarez & Marsal (A&M) for leadership, action and results. Privately held since its founding in 1983, A&M is a leading global professional services firm that provides advisory, business performance improvement and turnaround management services. When conventional approaches are not enough to create transformation and drive change, clients seek our deep expertise and ability to deliver practical solutions to their unique problems. With over 6,000 people across five continents, we deliver tangible results for corporates, boards, private equity firms, law firms and government agencies facing complex challenges. Our senior leaders, and their teams, leverage A&M’s restructuring heritage to help companies act decisively, catapult growth and accelerate results. We are experienced operators, world-class consultants, former regulators and industry authorities with a shared commitment to telling clients what’s really needed for turning change into a strategic business asset, managing risk and unlocking value at every stage of growth. To learn more, visit: AlvarezandMarsal.com. Follow A&M on LinkedIn, Twitter, and Facebook. View source version on businesswire.com: https://www.businesswire.com/news/home/20220526005804/en/ Contact Sandra Sokoloff, Senior Director of Global Public Relations Alvarez & Marsal, +1 212-763-9853 [email protected] Source : Alvarez & Marsal --BERNAMA The Firm’s Board Member and former Managing Partner of Germany succeeds Jill Ader, first female Chair of the global top five executive search and leadership advisory firms
ZURICH, June 22 (Bernama-BUSINESS WIRE) -- Michael Ensser has been elected Chair of Egon Zehnder by the partnership of the world’s leadership advisory firm. He assumes the role on Nov. 1, 2022, succeeding Jill Ader, who has chaired the Firm since 2018 and will transition to an advisory role. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220621005820/en/ “As our next chair, Michael embodies values-driven leadership, putting humanity and empathy at the core of all he does, which is exactly the type of leader we need to continue the Firm’s tremendous growth, expanding the reach of our leadership advisory capabilities as organizations face increased complexity and transformative challenges,” said Ader. Over his 25 years at Egon Zehnder, Ensser has played key roles, including leading the German market, the second largest for Egon Zehnder, where he pioneered Leadership Advisory services, as well as leading the Switzerland market. Before that, Ensser led the Berlin Office, which under his leadership grew to one of the biggest offices in the Firm. Ensser currently serves on Egon Zehnder’s board, co-chairing its People Committee and is also chair of Germany’s Board Academy, co-created with McKinsey and KPMG, which prepares executives for non-executive board positions. He also helped to launch Egon Zehnder’s second global knowledge center in Budapest. Ensser was elected by Egon Zehnder’s partnership, where every partner has an equal vote in the selection of the chair, a legacy from the Firm’s eponymous founder, who believed strongly in true partnership and good governance. Elections take place every three years, and chairs can serve for a maximum of two terms. “I am honored and grateful to our partners for placing their trust in me to lead our Firm in this next chapter,” said Ensser. “Building on our Firm’s values, we will continue to grow our Firm’s leadership advisory capabilities to better serve our clients, deliver on our commitments to diversity, equity, and inclusion, and increase our focus on sustainability.” Ensser’s election is part of a planned succession. The chair must be a partner in the Firm, and the partnership has a tenure limit of age 62. Following those guidelines, Ader will retire from the partnership of Egon Zehnder later this year, and she will transition to a senior advisor role, focusing on both client work and helping colleagues to flourish. “Jill has been nothing short of outstanding as our chair, helping to crystallize our values, increase our diversity, equity and inclusion efforts and amplify our role as leadership advisors and coaches,” said Edilson Camara, Chief Executive Officer of Egon Zehnder. “We are grateful that Jill will be returning to client-focused work, as our world needs great leaders more than ever before.” About Egon Zehnder Egon Zehnder is the world’s preeminent leadership advisory firm, inspiring leaders to navigate complex questions with human answers. We help organizations get to the heart of their leadership challenges and offer honest feedback and insights to help leaders realize their true being and purpose. Our 560 consultants across 63 offices and 36 countries are former industry and functional leaders who collaborate seamlessly across geographies, industries, and functions to deliver the full power of the Firm to every client, every time. We believe that together we can transform people, organizations, and the world through leadership. For more information, visit egonzehnder.com and follow us on LinkedIn and Twitter. View source version on businesswire.com: https://www.businesswire.com/news/home/20220621005820/en/ Contact Stacy Drumtra, Global Marketing Co-Lead [email protected] | T: +1 312 805 6736 Martin Klusmann, Global Marketing Co-Lead [email protected] | T: +49 1702360101 Source : Egon Zehnder --BERNAMA NIPPON EXPRESS, EMBALL’ISO LAUNCH TRANSPORT SERVICE USING ENVIRONMENT-FRIENDLY ISOTHERMAL PACKAGING22/6/2022 KUALA LUMPUR, June 21 (Bernama) -- Nippon Express Co Ltd, a group company of Nippon Express Holdings Inc announces collaboration with EMBALL'ISO, by launching a new international air freight service using environment-friendly isothermal packaging produced by EMBALL'ISO.
EMBALL'ISO is a French company with a proven track record in vaccine transport, according to a statement. The medical and pharmaceutical industries among others require strict temperature control of their products during transport, and there is growing interest in environment-friendly logistics services across all industries. As a key measure in its growth strategy for core businesses, the NX Group has positioned the pharmaceutical industry as a priority industry in the ‘NX Group Business Plan 2023 -- Dynamic Growth’ and has accordingly been expanding its temperature-controlled transport services. Nippon Express has become the first Japanese logistics company to partner with EMBALL'ISO by developing a new service combining EMBALL'ISO's reusable passive (non-powered) high-performance isothermal packaging with international air transport, thereby enhancing its temperature-controlled transport services. This new environment-friendly service will help reduce its customers' CO2 emissions while strictly maintaining the required temperatures during transport. Service features include using packaging with high isothermal performance that satisfies the ISTA 7D standard; and, the environment-friendly isothermal packaging can be collected in 80 countries/regions worldwide, among others. Going forward, the NX Group will continue enhancing and expanding end-to-end services that meet the need for increasingly sophisticated and diversified pharmaceutical logistics. More details at https://www.nipponexpress.com/ -- BERNAMA |
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