Connect with us

Business Wire

AM Best Withdraws Credit Ratings of Lloyd’s Syndicate 510

Business Wire

Published

on

Reading Time: 2 minutes

LONDON–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A
(Excellent) and the Long-Term Issuer Credit Rating of “a+” of Lloyd’s
Syndicate 510 (Syndicate 510) (United Kingdom), which is managed by
Tokio Marine Kiln Syndicates Limited (TMKS). The outlook of these Credit
Ratings (ratings) remains stable. Concurrently, AM Best has withdrawn
the ratings as the syndicate has requested to no longer participate in
A.M. Best’s interactive rating process.

The Lloyd’s market rating is the floor for all syndicate ratings,
reflecting the Lloyd’s chain of security and, in particular, the role of
the Central Fund, which partially mutualises capital at the market
level. The ratings of Syndicate 510 reflect the balance sheet strength
of the Lloyd’s market, which AM Best categorises as very strong, as well
as the market’s strong operating performance, favourable business
profile and appropriate enterprise risk management.

For the 2019 year of account, the syndicate’s capacity was maintained at
GBP 1.1billion. Approximately 56% of Syndicate 510’s capital is provided
by Tokio Marine Underwriting Limited, the ultimate parent of which is
Tokio Marine Holdings, Inc. The remainder of the capital is provided by
third party Lloyd’s members.

The syndicate’s recent technical performance has been broadly in line
with the overall Lloyd’s market, demonstrated by a five-year weighted
average combined ratio of 98% (2014-2018). In 2018, Syndicate 510
recorded a combined ratio of 103%, affected by catastrophe losses in
North America. The impact from catastrophe losses was in line with AM
Best’s expectations given the size and frequency of catastrophe events
during the year.

The business profile of all syndicates is linked inextricably to that of
Lloyd’s, which has a strong position in the global general insurance and
reinsurance markets. The collective size of the Lloyd’s market allows
Syndicate 510 to compete under the Lloyd’s brand with international
groups. Syndicate 510 is one of the largest syndicates at Lloyd’s,
ranking seventh based on 2018 gross written premiums. It writes a
diversified portfolio by geography and line of business comprising
property and special lines, marine and special risks, enterprise risk,
accident and health, reinsurance and aviation.

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.

Contacts

Laura Balkarova
Associate Financial Analyst
+44
20 7397 0315

laura.balkarova@ambest.com

Catherine Thomas
Senior Director, Analytics
+44
20 7397 0281

catherine.thomas@ambest.com

Christopher Sharkey
Manager, Public Relations
+1
908 439 2200, ext. 5159

christopher.sharkey@ambest.com

Jim Peavy
Director, Public Relations
+1 908
439 2200, ext. 5644

james.peavy@ambest.com

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

For the last half century, thousands of communications professionals have turned to us to deliver their news to the audiences most important to their business through the sources they trust most. Over that time, we've gone from a single office with one full time employee to more than 500 employees in 32 bureaus.

Business Wire

Cambodia Junior National Canoe Team Members to Visit Japan as Part of Japan Exchange Program JENESYS 2019

Business Wire

Published

on

Reading Time: 2 minutes

TOKYO–(BUSINESS WIRE)–Sixteen members of the Cambodia junior national canoe team are scheduled to visit Japan from September 17–25 as part of the Japan Exchange Program JENESYS 2019 promoted by the Ministry of Foreign Affairs (MOFA).

We invite the group to enjoy canoe-related tours and lectures in Tokyo, and then to visit Ishikawa Prefecture to participate in the 15th Japan Canoe Sprint Junior/Junior Youth Komatsu Tournament, joint practice with the Japan national team, a social gathering with high school students, and other activities, all in an effort to promote personal exchange between Japan and Cambodia through sports. Our aims with these activities are to effectively share the appeals of Japan and to further promote the future development of the sports industry in Cambodia and friendly relations between Cambodia and Japan.

We hope that participants in this program will proactively share the appeals of Japan and other information after returning to Cambodia.

For reference: Japan Exchange Program JENESYS 2019

People with the ability and future mission to deliver messages between Japan and the countries and regions of Asia and Oceania are invited and dispatched in order to promote an understanding of Japan with regard to politics, economics, society, culture, history, foreign policy, and the like, and pro-Japanese people and experts on Japan are discovered in order to strengthen Japan’s message to other countries and expand Japan’s diplomatic foundation by having the guests and dispatchees take the initiative to spread information about the diplomatic stance, appeals, and other facets of Japan.

Schedule

Tuesday, September 17

Arrive in Japan, orientation, lecture by the Japan Canoe Federation, etc.

Wednesday, September 18

Tour Sea Forest Waterway, etc.

Thursday, September 19

Travel to Ishikawa Prefecture

Courtesy visit to the Komatsu City Office

Joint practice with the Japan national team

Friday, September 20

Visit Komatsu Ltd.

Social gathering

Saturday, September 21–Monday, September 23

Participate in the 15th Japan Canoe Sprint Junior/Junior Youth Komatsu Tournament

Tuesday, September 24

Travel to Tokyo

Presentation of outcomes, etc.

Wednesday, September 25

Depart Japan

Contacts

Inquiries about the program

JENESYS 2019 ASEAN + East Timor Project Implementing Agency

JTB Kasumigaseki Operations Department

Contact: Junji Mise (Mr.), Yutaka Shintani (Mr.)

TEL: +81-3-6737-9447

Weekdays: 9:00-18:00 (Closed on weekends and holidays)

[Email] jenesys2019asean@jtb.com

Continue Reading

Business Wire

CommerceWest Bank Supported Caterina’s Club and Provided Warm Meals, Affordable Housing, and Job Training Assistance to Low-Income Families

Business Wire

Published

on

Reading Time: 2 minutes

IRVINE, Calif.–(BUSINESS WIRE)–CommerceWest Bank (OTCBB: CWBK) supported Caterina’s Club and provided warm meals, affordable housing and job training assistance to low-income families throughout Southern California. Caterina’s Club “Feeding Kids in America” program feeds over 25,025 children a week. The “Welcome Home” program provides qualified families, living in the dark environment of a motel, with the necessary resources to move into the safety and stability of an apartment or condo.

Chef Bruno Serato commented, “It’s time to stop talking about it and do something about it.” He continued, “Thank you all so much for supporting Caterina’s Club, the children, and families we serve. This year’s gala wouldn’t be a success without grand supporters such as CommerceWest Bank. Thank you!”

Ivo A. Tjan, Chairman and CEO of CommerceWest Bank, stated, “A lot of families take for granted how meaningful it is to sit down and have a nightly dinner. It is disheartening to think of, especially when thousands of children in our community go to bed hungry, without an adequate roof over their head.” He continued, “We are excited to be able to help Chef Bruno Serato provide warm meals and affordable housing to underprivileged children and low-income families in our community.”

CommerceWest Bank is a California based full service commercial bank with a unique vision and culture of focusing exclusively on the business community. Founded in 2001 and headquartered in Irvine, California. The Bank serves businesses throughout the state with an emphasis on clients in Orange County, San Diego, Los Angeles, and Riverside Counties. We are a full service business bank and offer a wide range of commercial banking services, including concierge services, remote deposit solution, online banking, mobile banking, lines of credit, working capital loans, commercial real estate loans, SBA loans, and cash management services.

Mission Statement: CommerceWest Bank will create a complete banking experience for each client, catering to businesses and their specific banking needs, while accommodating our clients and providing them high-quality, low stress and personally tailored banking and financial services.

Please visit www.cwbk.com to learn more about the bank. “BANK ON THE DIFFERENCE”

Contacts

Ivo A. Tjan, Chairman and CEO

Work Phone: 949-474-5278 (Media Only)

Continue Reading

Business Wire

Cabinet painting is a cost-effective way to modernize the kitchen and increase property value.

Business Wire

Published

on

Reading Time: 2 minutes

CALGARY, Alberta–(BUSINESS WIRE)–Kitchen renovations have one of the highest returns on investment compared to other home renovations. A modern, updated kitchen will add value to a property and make it more attractive to buyers. The largest financial component of a kitchen renovation is the cabinetry.

“Homeowners can experience huge savings on their kitchen renovation when they choose cabinet painting over a full cabinet replacement,” said Chris White of New Look Cabinets in Calgary. “Cabinet painting can make the kitchen look like new, at a fraction of the cost.”

The best advice is to hire Calgary cabinet painters for this project, but homeowners can attempt to DIY cabinet painting. Here are some instructions on how to paint kitchen cabinets.

  1. Choose paint: Choose a paint that will best adhere to your cabinet material and give lasting durability. You should also consider what paint colour will best suit your home’s overall design and your personal taste.
  2. Prepare the kitchen: Before starting, remove everything from the kitchen and cabinets that might get in the way.
  3. Remove cabinet doors, drawer fronts, and hardware: Take everything off the cabinet boxes and label it for easy reassembly.
  4. Clean and sand the surfaces: Wipe down all surfaces with a grease-removing cleaner. Then lightly sand all doors, drawer fronts and side panels. Remember to wipe off the dust afterwards.
  5. Prime and paint the cabinets: You can choose to paint them using a brush, compressor and paint gun, or have them painted by Calgary cabinet painters in a professional spray shop. Be sure to apply a primer and allow it to completely dry before putting on the top coat.

Homeowners should be aware that cabinet painting is a time consuming, detail-oriented job. If you are not comfortable with your ability, or you do not have enough time to complete the job properly, you should consider hiring professional cabinet painters.

“We have the experience, skills and equipment to get the job done efficiently and with seamless, professional results,” said White. “If you can’t commit the time, it is well worth the money to have your kitchen cabinets painted by a professional company.”

New Look Cabinets & Interiors is a RenovationFind Certified Painting Company in Calgary. They specialize in interior painting, as well as cabinet painting, cabinet refinishing and furniture refinishing. They offer superior workmanship, excellent customer service and are passionate about every project they work on. For more information, or for help with your next paint job, visit www.newlookcabinets.com.

Contacts

Chris White

403-719-7246

Continue Reading

Font Resizer

Subscribe to PICANTE via Email

Enter your email address to subscribe to PICANTE and receive notifications of new posts by email.

Follow us on Facebook

Read more from our authors

Follow our Tweets

Trending

Please turn AdBlock off