AM Best Affirms Credit Ratings of Tower Limited

 

SINGAPORE, April 28 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Tower Limited (Tower) (New Zealand). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect Tower’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

Tower’s balance sheet strength assessment is underpinned by its risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), which was at the strongest level at fiscal year-end 2024 (30 September 2024). Following a dividend payment and share buyback in the first half of fiscal year (FY) 2025, AM Best expects Tower’s risk-adjusted capitalisation to decline but remain at least at the very strong level over the medium term, supported by retention of earnings. In addition, Tower’s regulatory solvency capital under the latest Interim Solvency Standard is expected to maintain a healthy capital buffer above the minimum requirements. Other supporting factors include strong financial flexibility, a prudent reinsurance programme and a conservative investment strategy.

AM Best assesses Tower’s operating performance as adequate. The company has a track record of adequate operating performance, albeit with a moderate level of volatility due to catastrophe events. Tower’s operating earnings are driven predominantly by technical performance coupled with modest investment income. In FY 2024, the company reported a return-on-equity ratio of 22.6% and a net/net combined ratio of 83.1%. AM Best expects Tower to report positive underwriting and operating results over the medium term, supported by appropriate risk selection, pricing and positive investment returns.

Tower is a medium-sized non-life insurer that operates predominantly in New Zealand, with some operations in the Pacific Islands. Tower’s core product offerings include domestic home and motor insurance, typically distributed through direct channels and partnerships. Whilst the market share in the overall non-life market is modest at approximately 5%, the company has a solid market position in its core insurance segments in New Zealand.

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 Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, 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 © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: 
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Contact

Ken Lau
Senior Financial Analyst
+65 6303 5023
ken.lau@ambest.com

Yi Ding
Associate Director
+65 6303 5021
yi.ding@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

Source : AM Best

CORRECTING and REPLACING Saviynt Hires Identity Veteran Roger Hsu to Accelerate Asia Growth

Appointment of cybersecurity veteran underscores Saviynt’s commitment to identity security amid rising threats and rapid growth across Asia


LOS ANGELES, April 24 (Bernama-BUSINESS WIRE) -- Headline of release issued April 22, 2025, at 9:30 p.m. PT/April 23, 2025, at 12:30 a.m. ET should read: Saviynt Hires Identity Veteran Roger Hsu to Accelerate Asia Growth (instead of Saviynt Hires Former SailPoint ASEAN Leader Roger Hsu to Accelerate Asia Growth).

The updated release reads:

SAVIYNT HIRES IDENTITY VETERAN ROGER HSU TO ACCELERATE ASIA GROWTH

Appointment of cybersecurity veteran underscores Saviynt’s commitment to identity security amid rising threats and rapid growth across Asia

Saviynt, a leading provider of cloud-native identity and governance platform solutions, has appointed Roger Hsu as Regional Vice President (RVP), Asia. The move signals the company’s deepening investment and accelerated growth in the region.

Hsu joins Saviynt following a successful tenure at SailPoint, bringing over two decades of cybersecurity and identity management expertise. He will lead Saviynt’s go-to-market strategy across Asia, with a strong focus on helping enterprises secure digital identities in an increasingly complex threat landscape.

The urgency for modern identity governance has never been greater. According to IBM’s 2024 Cost of a Data Breach Report, Asia-Pacific remains the most-targeted region globally, with compromised credentials and misconfigured identity systems among the leading causes of breaches.

“Identity is no longer just a security concern, it's a business imperative,” said Dan Mountstephen, senior vice president of APJ (Asia-Pacific and Japan) at Saviynt. “The threat landscape in Asia has evolved dramatically, with organizations facing sophisticated attacks that exploit identity as the new perimeter. Roger’s deep expertise in the region and customer-first mindset will be instrumental in helping enterprises modernize their identity programs and stay ahead of these risks.”

Saviynt has steadily grown its presence in Asia, working with Fortune 500 companies and regional enterprises across financial services, healthcare, manufacturing, and critical infrastructure. The company is making strategic investments in local talent, partnerships, and region-specific solutions to meet soaring demand for intelligent identity governance.

“Saviynt’s commitment to innovation and its cloud-native converged identity security platform is unmatched,” said Hsu. “I am excited to join the team and help more organizations across Asia future-proof their identity infrastructure to support secure digital transformation.”

The appointment of Hsu signals Saviynt’s continued commitment to Asia as a strategic growth market and its vision to redefine identity security for the modern enterprise.

To learn more about Saviynt’s Identity Cloud, please visit the website.

About Saviynt

Saviynt empowers enterprises to secure their digital transformation, safeguard critical assets, and meet regulatory compliance. With a vision to provide a secure and compliant future for all enterprises, Saviynt is recognized as an industry leader in identity security whose cutting-edge solutions protect the world’s leading brands, Fortune 500 companies and government organizations. For more information, please visit www.saviynt.com.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20250422491325/en/

Contact

For Saviynt APAC and India
Roshi Vijaywargiya
roshi.vijaywargiya@saviynt.com

Press Contact
Jacklyn Kellick
jacklyn.kellick@saviynt.com

Source : Saviynt

SAVIYNT SUPERCHARGES ASIA GROWTH WITH ROGER HSU HIRE

KUALA LUMPUR, April 23 (Bernama) -- Saviynt, a global provider of cloud-native identity and governance platform solutions, has appointed Roger Hsu as Regional Vice President (RVP) for Asia, underscoring the company’s commitment to growth and investment in the region.

According to Saviynt in a statement, Hsu brings over 20 years of experience in cybersecurity and identity management, having previously held a leadership role at SailPoint.

In his new position, he will lead Saviynt’s go-to-market strategy across Asia, supporting enterprises in strengthening digital identity security amid a rising cyber threat landscape.

Saviynt Senior Vice President of Asia-Pacific and Japan, Dan Mountstephen said identity is no longer just a security concern; it is a business imperative.

“Roger’s regional expertise and customer-focused approach will help organisations modernise their identity governance and mitigate emerging threats,” he said.

Meanwhile, commenting on his appointment, Hsu said Saviynt’s cloud-native converged identity security platform stands out for its innovation and looked forward to helping organisations across Asia secure their digital transformation initiatives.

The appointment reflects Saviynt’s strategic focus on Asia and its mission to redefine identity security for the modern enterprise.

According to IBM’s 2024 Cost of a Data Breach Report, Asia-Pacific remains the most-targeted region worldwide, with compromised credentials and misconfigured identity systems among the major breach factors.

Saviynt continues to expand its presence in Asia, working with Fortune 500 firms and regional enterprises across sectors including financial services, healthcare, and critical infrastructure. The company is also investing in local talent, partnerships, and region-specific solutions to meet increasing demand.

-- BERNAMA

Bitget Unveils New Ad Featuring FC Barcelona Star Raphinha to Champion Smarter Crypto Solutions

VICTORIA, Seychelles, April 16 (Bernama-GLOBE NEWSWIRE) -- Bitget, the leading cryptocurrency exchange, and Web3 company, is kicking off a dynamic new campaign with LALIGA, featuring Barcelona's electrifying winger Raphinha. The new collaboration highlights Bitget's innovative trading products—Copy Trading, Launchpool, and Pre-market—drawing a clever parallel between the precision of elite football and the strategy behind smart crypto trading via a series of videos that will be launched throughout the month of April.

Just as Raphinha dances past defenders with samba flair or executes tiki-taka precision on the pitch, Bitget’s tools empower traders to navigate the crypto markets with agility and foresight. The campaign’s three commercials showcase this harmony, blending LALIGA's cutting-edge approach to sports with Bitget’s tech-driven trading solutions.

“In football, split-second decisions make the difference between a goal and a miss,” said Jorge de la Vega, LALIGA executive director. “Partnering with Bitget reflects our shared focus on innovation, performance, and strategy—whether on the field or in the markets.”

Raphinha, who recently hit 50 goal contributions for FC Barcelona this season, echoed the sentiment: “Football and trading both demand quick thinking and the right tools. Bitget’s platform helps traders stay ahead, just like we do on the pitch.”

The campaign isn’t just about star power; it’s about engagement. Bitget will roll out user education initiatives and trading challenges, allowing participants to win exclusive LALIGA prizes, including match tickets to see Raphinha in action for league leaders FC Barcelona. Think of it as a hat-trick of opportunities: learn, trade, and win.

“What excites me most about this partnership isn't just the shared spotlight between crypto and football; it's how fundamentally alike these worlds are. When Raphinha receives the ball, he's processing positioning, momentum, and opportunity in real-time, much like a skilled trader reading market movements,” said Gracy Chen, CEO at Bitget. She added, “We've built tools that give users that same edge: Copy Trading lets you learn from the pros, Launchpool brings effortless passive income, and Pre-market offers early winning opportunities. This campaign celebrates that strategic mindset whether you're trading on our platform or watching Raphinha light up the Camp Nou.”

LALIGA's reputation for embracing technology aligns perfectly with Bitget’s mission to make crypto trading accessible and intuitive. Both industries thrive on strategy, timing, and execution—whether it’s a perfectly placed through ball or a well-timed trade. This campaign marks the latest chapter in Bitget’s growing sports legacy, having partnered with football legend Lionel Messi and the Italian football club Juventus. As the campaign unfolds, Bitget and LALIGA aim to inspire fans and traders alike to embrace a smarter, more strategic approach, both in crypto and beyond.

Visit Bitget's YouTube channel for part one of the Raphinha series.

About Bitget

Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 100 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World's Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

For media inquiries, please contact: media@bitget.com

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3d035087-a248-41fb-a491-eb9990eff6ab 

SOURCE: Bitget Limited

DISCLAIMER : BERNAMA MREM are not accountable for any causes of website defacement, misuse, or illegal activities connected to cryptocurrency, blockchain, tokenisation, or bitcoin. This material should not be considered as guidance or an opinion, as it does not constitute financial or investment advice. Use this information at your own risk; we are not liable for any losses or damages caused by the republication of this article.

--BERNAMA

RELEX NAMED IN GARTNER MAGIC QUADRANT FOR SUPPLY CHAIN PLANNING

KUALA LUMPUR, April 17 (Bernama) -- RELEX Solutions, a provider of unified supply chain and retail planning solutions, has been recognised as a Leader in the 2025 Gartner Magic Quadrant for Supply Chain Planning based on Completeness of Vision and Ability to Execute.

In a statement, RELEX said this recognition marks the first time the company has been placed in the Leaders Quadrant, just three years after being included in this report for the first time in 2022.

“We feel being recognised as a Leader in this report affirms our unwavering commitment to delivering measurable value and innovation that transforms supply chain planning through a truly unified platform for retailers, wholesalers, manufacturers, and consumer goods companies.

“We deliver on our promises, offering an unmatched combination of AI-powered retail-scale demand planning, demand and supply optimisation, and production scheduling in a single platform, helping businesses tackle the most intricate supply chain challenges,” said RELEX Solutions group chief executive officer and co-founder, Mikko Kärkkäinen.

RELEX believes this recognition highlights the strength, scalability, and unified platform the company offers, integrating demand and supply across the entire value chain to drive smarter decisions, greater efficiency, and seamless collaboration across all functions.

The RELEX platform has been rooted in artificial intelligence (AI) since the company’s inception, enabling highly accurate supply chain optimisation, seamlessly aligning master planning, demand forecasting and sensing, replenishment, allocation, and production scheduling within a single data model.

Key capabilities include AI-driven demand planning using machine learning (ML)-forecasting and demand sensing to anticipate and respond to market fluctuations, in addition to integrated production, purchasing, and distribution planning to align supply with real-time demand.

The platform also features advanced production scheduling for manufacturing, enabling efficiency gains across complex production environments, and advanced diagnostics to identify root causes of supply chain inefficiencies, enabling proactive resolution and continuous improvement.

RELEX is also pushing forward with new ideas in generative AI and agentic AI, along with special AI methods that enhance the platform's ability to be flexible, cut down on waste, and connect strategic goals with everyday operations.

-- BERNAMA

AI-Media Unveils LEXI Voice at NAB Show 2025 - Global Reach with Live AI-Powered Voice Translation

 

Broadcast leaders embrace breakthrough live translation technology offering unmatched accuracy, scale, and affordability


BROOKLYN, N.Y. and NEW YORK, April 15 (Bernama-GLOBE NEWSWIRE) -- AI-Media (ASX: AIM), a global leader in AI-driven captioning and language technology, today announced the successful commercial launch of LEXI Voice at NAB Show 2025 in Las Vegas. The live debut of the breakthrough solution - which delivers real-time alternate-language voice tracks using AI - was met with strong interest from global broadcasters, live event producers, streaming platforms, and enterprise leaders.

LEXI Voice represents a leap forward in live translation, transforming a single-language broadcast into a multi-language experience - with natural-sounding synthetic voices, ultra-low latency (~8 - 12 seconds), and no additional hardware required. The result: new audience access, increased advertising revenue, and dramatic cost savings compared to traditional human interpretation.

“Customers are telling us that LEXI Voice delivers exactly what they need: accuracy, scale, and simplicity - all at a disruptive price point,” said James Ward, Chief Sales Officer at AI-Media. “For many, this is the moment multilingual delivery finally becomes commercially viable.”

Strategic Differentiators:

• Price Point: At USD $30/hr (plus standard LEXI captioning rate), LEXI Voice slashes live translation costs by up to 90%.
• Platform Reach: Works seamlessly with AIM’s global encoder network - Alta (SMPTE 2110 and MPEG-TS), Encoder Pro - HD492 (SDI), and iCap - requiring no new infrastructure for existing customers.
• Broadcast-Grade Voices: Customers praised the natural tone, intelligibility, and speaker clarity of the AI-generated output.
• Plug-and-Play: Same scheduling, APIs, billing, and support as current captioning workflows.

Available Immediately:

• Translation into 100+ languages
• Customisable voices by region, gender, and tone
• Glossary and phonetic tools to ensure brand and name consistency
• AI voice replacement of original audio with full audio mixing
• Support for up to five alternate-language tracks per channel

Real-World Applications Already Underway: LEXI Voice is attracting:

• Global broadcasters localising sports, news, and entertainment to unlock new ad inventory
• Governments and legislatures ensuring inclusive language access for public sessions
• Corporates expanding reach in internal town halls and investor communications
• Streaming platforms and events scaling accessibility to diverse global audiences

The launch aligns with AI-Media’s strategic roadmap to triple Tech revenue by FY29 and achieve $60M EBITDA, as outlined in its FY25 investor communications. The company is focused on driving SaaS growth through its expanding LEXI Toolkit, which now includes LEXI Voice, LEXI Brew (Generative AI), and LEXI Translate.

“NAB was the first time our customers saw the complete LEXI Voice solution live - and the response confirmed what we knew: the market is ready,” said Ward. “This product transforms what’s possible in real-time multilingual engagement.”

For more information or to request a private demonstration, visit: LEXI Voice | Break Language Barriers & Grow Your Revenue

Follow AI-Media on LinkedIn for ongoing updates and customer success stories.

About AI-Media

Founded in Australia in 2003, AI-Media (ASX: AIM) is a pioneering technology company specialising in AI language and captioning workflow solutions.
As a global leader, AI-Media provides high-quality AI-powered live and recorded captioning and translation technology and solutions to a diverse range of customers and markets worldwide.
For the first time in February 2024, AI-Media unveiled groundbreaking data showcasing the superiority of its AI captioning product, LEXI, over traditional more expensive human workflows.
With deep industry experience and sophisticated AI technology to create solutions which streamline and simplify processes, AI-Media empowers leading broadcasters, enterprises and government agencies globally to ensure seamless accessibility and inclusivity of their content. AI-Media’s proprietary technologies - iCap, LEXI, Alta, and the LEXI Toolkit - are trusted across 25+ countries to deliver unmatched accuracy, reliability, and efficiency.

Media Contact:
Fiona Habben
Head of Global Marketing
Fiona.habben@ai-media.tv

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/15d29007-51d7-4d87-a1e9-4b1b17a8d049

A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/deb7fa0f-d0c9-4ee2-a4eb-5bb5ca299ed5

SOURCE : Ai-Media Technologies LLC

General Omi Beef Launches "Steak Sudaku" Restaurant In Singapore

KUALA LUMPUR, April 2 (Bernama) -- General Omi Beef Trading Company, known for exporting premium Omi beef from Shiga Prefecture, Japan, is set to broaden its brand presence with the opening of a new restaurant in Singapore.

The company’s wholly owned subsidiary, Omigyu Trading Singapore Pte Ltd, will open a fast-casual restaurant called "Steak Sudaku" on April 4, according to a statement.

The restaurant will feature Omi beef steaks as its main offering, with a focus on quick delivery and service. The brand name is a creative blend of Chinese characters, which convey the meaning "joy, achieve, gather", symbolising a place for people to gather and enjoy a great meal.

The new establishment, located at 302 Beach Rd, will operate daily with two service periods and aims to provide a fun and efficient dining experience while introducing the rich flavours of Omi beef to Singapore’s market.

-- BERNAMA

IAQG Unveils OASIS Insights™

Brussels, Belgium, April 2, 2025 / AgilityPR - AsiaNet/

A Revolutionary Tool for Aerospace Quality Enhancement

Brussels, Belgium – March 31, 2025 – The International Aerospace Quality Group® (IAQG) is proud to announce the launch of OASIS Insights™, a groundbreaking benchmarking and quality improvement tool designed to leverage the 9100 series audit data to enhance transparency, performance, and continuous improvement in the aerospace industry.

OASIS Insights brings audit performance to life by providing context and benchmarking to help suppliers and supply chain partners understand the 9100 series audit outcomes. Beginning April 1, this distinctive report will be generated after newly published initial, recertification, or surveillance audits are entered into the Online Aerospace Supplier Information System (OASIS), offering insights into comparative anonymized audit performance. Furthermore, these reports provide guidance support based on the IAQG’s AIMM and SCMH frameworks to assist suppliers in enhancing and improving their Aerospace Quality Management Systems compliance.

"The launch of OASIS Insights marks a significant milestone in our ongoing efforts to improve quality management within the aerospace sector,” explained Eric Jefferies, president of IAQG. “By providing audit ratings and benchmarking, OASIS Insights will transform how organizations showcase the value of audits and identify areas for improvement, ultimately driving continuous improvement in the aerospace industry."

Developed in collaboration with IAQG technology partner Intact, a leading provider of audit and certification management software, OASIS Insights is designed to support suppliers and help raise the overall standard of aerospace quality. Jake Lewin, CEO of Intact US, added, "By transforming audits into actionable intelligence, we’re providing suppliers with visibility into audit outcomes that were previously impossible. This is a major step forward for audit and certification as a whole, and we’re thrilled to have collaborated with IAQG to bring it to life.”

OASIS Insights will be provided automatically to certified organizations following an audit. The tool will be initially accessible through the organization's files area in OASIS.

For more information about OASIS Insights, please visit the https://iaqg.org.

About the International Aerospace Quality Group  

As an international non-profit association established under Belgian law and registered in Brussels, Belgium, the IAQG sets the high standard for quality within the global aerospace industry supply chain. The organization consists of member companies from the aviation, space, and defense sectors that design, develop, manufacture, and support original equipment at both system and subsystem levels. The IAQG is dedicated to creating a common framework for quality systems and improvement standards.  These standards are utilized internationally by original equipment manufacturers (OEMs) and applied throughout the supply chain. To learn more, visit https://iaqg.org. 

About Intact

Intact is the market leader in audit, certification, and standard management software. Its solutions help customers boost their efficiency and profitability worldwide while assuring the highest possible safety and quality of products, services, and qualifications. Founded in 2001 in Austria, Intact has seven global offices and sales partners and is used across management, food, and other certification and audit sectors. 

SOURCE: International Aerospace Quality Group

--BERNAMA