AM Best showed the monetary strength score B (good) and the long-term credit score of the issuer bbb from Worldwide Medical Assurance, Ltd. (WWMA) (Panama City, Panama). The outlook for those credit scores (scores) is positive.
Credit ratings (ratings) reflect the strength of WWMA’s balance sheet, which AM Best describes as very strong, as well as its strong operational performance, unbiased business profile, and adequate corporate threat control (ERM).
The positive outlook follows the continued strength of WWMA’s balance sheet, backed by a risk-adjusted capitalization held at the highest level, measured through Bests’ Capital Adequacy Index (BCAR), as well as AM Bests’ expectations that profitability will continue to increase. the construction of the company’s capital base.
Ratings also reflect WWMA’s robust and continuous operational functionality, backed by strong underwring practices and a prudent investment strategy, while maintaining its slow successful expansion in other Latin American markets. These strengths are offset by a greater subscription threat as a result of the replacement in retention profile, the company’s ability to implement its expansion goals, and the highly competitive landscape of the life and fitness insurance segments in Latin America.
The company started operations in 1999 and has since effectively expanded to its niche market, offering insurance to consumers traveling for medical care, which is achieved through a combination of brokers, banking and direct distribution channels. WWMA benefits from its partial stake through KfW DEG, the German progression bank, through its holding company, Worldwide Group, Inc. In recent years, WWMA has expanded its activities to other Latin American markets such as Guatemala, Bolivia and Paraguay.
WWMA’s style for optimizing the variety of healthcare providers is supported through a reinsurance program with highly qualified counterparts, which supports its global expansion strategy and the progression of its business portfolio. In April 2020, an adjustment was made to the reinsurance scheme of the Online Health business, to evolve towards superior retention. AM Best will continue to monitor the effect of this replacement on the company’s operational functionality measures and risk-adjusted capitalization.
Historically, WWMA has maintained a positive capital-building capacity, which, combined with a prudent profit reinvestment strategy, has contributed to its risk-adjusted capitalization, as measured through the BCAR. Capital control is further improved through the use and progression of WWMA’s trading capital. ERM’s style and solid practices.
WWMA subscription rigidity and rigorous insurance termination practices translate into strong signs of premium adequacy. In addition, WWMA’s synergies with its sister company in the Dominican Republic, along with periodic changes in its reinsurance structure, have helped optimize the company’s subscription. , combined with strong monetary products, resulted in signs of sustained return, such as returning to equity and returning to assets, which rated at 7. 4% and 2. 0% respectively at the end of 2019.
Factors that can lead to positive scoring movements come with continuous expansion in the Company’s capital in the medium term, for the highest risk-adjusted capitalization level, measured through the BCAR, and the successful consolidation of the Company’s business strategy at specific locations. while maintaining intelligent opescore performance. Negatively scored actions are not expected in the short term, unless significant adjustments to the company’s strategy have a negative effect on its income-genescore profile, or if the risk-adjusted capitalization deteriorates significantly.
This press release relates to credit scores posted on the AM Bests website. For all applicable publication score data and disclosures, adding the main workplace points guilty of issuing the individual notes referenced in this release, stop at AM Bests’ recent score activity For more information on the use and limits of credit rating notices , refer to the Best Credit Rating Guide. For more information on the proper use of Bests Credit Ratings media and AM Best press releases, see the Media Guide: Appropriate Use of Best Credit Notes and AM Best Rating Action Press Releases.
AM Best is a global credit rating agency, news editor and provider of knowledge analysis specializing in the insurance industry. Headquartered in the United States, the company operates in more than 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore, and Mexico City. For more information, www. ambest. com.
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SHENZHEN, China, 26 September 2020 / PRNewswire / – China’s largest pet-focused platform, Boqii Holding Limited (BQ. US), submitted an initial public offering (IPO) in the United States on September 23, 2020. Boqii plans to provide 7 million U. S. Custody Shares (ADS) (each representing 0. 75 of the Company’s Class A common stock) for US$10 to $12 each.
Boqii will be the first company in the Chinese puppy industry to list in the United States.
Boqii has been favored through a number of world-renowned investors thanks to its deep penetration into the puppy industry. In particular, Goldman Sachs and CMB International invested in Boqii prior to their IPO in the domestic market. In particular, Goldman Sachs participated in Boqii’s Funding Rounds A, B and C. These investments demonstrate strong investor confidence in the long-term expansion of the puppy-focused platform.
Economic slowdowns of constant spending and resilient functionality
As China has made a total improvement in intake in recent years, the demand for intake from puppy homeowners has gradually increased to a higher point compared to that concentrated only on puppy products. Pet house owners are willing to manufacture high quality puppy products for the well-being of their puppies. The expansion of intake at full speed is taking place in the upper sections of income sources, among the younger generation. With the expansion of spending through puppy homeowners, the Chinese puppy market is likely to continue to expand for the foreseeable future.
According to Frost’s data
According to Boqii F-1, the penetration rate of puppy property (percentage of families with puppies in all families) in China was 22. 8% in 2019, compared to 68. 9% in the US. 45. 0% in the UK and 26. 8% in Japan. The rate in China is expected to be successful at 29. 9% until 2024.
2. China’s leading pet-centric platform, in favor of market wind
Boqii was established in Shanghai in 2008 as a network designed to provide a vertically built-in social platform for puppy owners and lovers, where they can simply share their reports with their puppies and be informed about how to raise them better. and take care of them.
In 2014, Boqii introduced its cellular application, Boqii Pet, China’s largest puppy network in terms of registered users in 2019 and mau average according to Frost
Currently, Boqii has 23 million registered users, adding 3. 5 million according to the active users of the month. Boqii’s network has partnered with more than 860 key opinion leaders (MOO) and recorded an average of 334 million user interactions consistent with April 3 months. Until June 2020.
In 2008, Boqii created an e-commerce platform, Boqii Mall. Boqii redefines e-commerce for puppy parents by offering an accessible, personalized and fun grocery purchase based on a deep understanding of our users and consumers and their puppies by leveraging the extensive user interactions and transactional behaviors we have observed over the years. As of June 30, 2020, the company had partnered with more than 570 brands, while the number of stock control sets (SKUs) held exceeded 17,000.
In addition, Boqii introduced its own Yoken logo (with approximately 1300 SKUs) in 2015 and its premium Mocare logo in 2018 with quality and price impossible to resist. As of June 30, 2020, the company presented its consumers with access to 2130 SKUs sold under their personal logos, or 11. 9% of the total SKU.
In 2015, Boqii expanded its offline sales channels and expanded its business with physical puppy outlets, and brought our patented SaaS responses that help offline puppy outlets scan, streamline, and optimize chain-of-origin control and in-store operations. PetDog, China’s largest puppy store franchise and the largest educational center for puppy professionals, Qingdao Shuangan Bio-technology Co. , Ltd. , one of the leading puppy food brands in China, as well as several corporations that care primarily at R
Boqii has cooperated with more than 15,000 physical outlets for puppies and puppy hospitals in more than 250 cities in China as of June 30, 2020 and is helping spouse brands expand their success in a cost-effective and coordinated manner, providing a complete catalog. puppy parents across China.
Boqii disrupts classical puppy facilities and retail in China by fostering an ecosystem that connects and empowers diverse puppy price chain participants, adding puppy brands, manufacturers, puppy retail outlets and puppy hospitals. based marketing, comprehensive management of source and stock chain functions, and a reliable national logistics network.
3. Disruptive business style that strengthens the entire puppy chain
Boqii has shown stable expansion in both profits and GMV. The company’s overall net sales reached RMB 804 million (about $117. 3 million) for the fiscal year ending March 31, 2019 and 770 million yuan (about $109 million) for the fiscal year ending March 31, 2019. March 2020. In the first quarter of fiscal 2021 (April to June 2020), net sales were RMB 238 million (about USD 33. 7 million), an increase of RMB 26. 2% to RMB 189 million (about $27. 6 million) in the same previous fiscal year. In the first quarter of fiscal 2021, GMV also increased by 56% year-on-year to RMB 554 million (around US$80. 8 million).
For fiscal year 2020, Boqii EBITDA 113 million RMB (approximately US$16 million), with a margin of 14. 7%, an improvement over that recorded for fiscal year 2019. In the first quarter of fiscal 2021 (April to June 2020), the Company’s EBITDA – 35. 43 million yuan (approximately US$5. 1 million) with a margin reduced to 14. 9% compared to 18. 6% at the same time last year, reflecting the company’s continued efforts to invest strategically. Continuous improvement in the EBITDA margin demonstrates the good luck of the puppy platform business model.
In the future, Boqii plans to continue investing in content growth, getting better user reports and enriching a puppy-oriented ecosystem. Optimize product diversity and continue to present more brands on onmi channels and diversify product offerings that meet visitor demands and drive profitability. Boqii will continue to attract more users to enroll in the club’s program and deepen their participation. In addition, it will also continue to identify and pursue mergers and acquisitions and strategic transactions along the puppy industry’s price chain, with the purpose of diversifying the product. and service offerings, improving the ecosystem and stimulating the long-term progression of the entire cub industry in China.
With the IPO, Boqii is the largest company driving the revolution in the puppy industry to offer attractive proposals to its users and customers, its puppies, small and medium-sized puppy corporations and their business partners.
BEIJING, September 26, 2020 / PRNewswire / – IoT is the third technological revolution after computers and the Internet, connecting all environments in a shared environment to achieve an anthropomorphic belief and data exchange. Cisco predicts that 50 billion IoT devices will be put into service until 2020, indicating the arrival of an era of all sages. By investing in RoboSense, a LiDAR solution provider with an IoT presence, and Yunding, a smart platform that employs IoT technologies, Fosun RZ Capital is helping industries digitize faster to create a more accurate IoT.
“The Chinese IoT market is expected to delight in significant expansion with CAGR of around 22. 7% over the forecast period,” according to the Chinese IoT Market 2019-2025. (1) China prioritized the “progression of the Internet of Vehicles” in 2017. Such action has spurred continued innovation and improvement in artificial intelligence and smart generation projects, one of which is the automatic driving of automobiles. Today, LiDAR has become an indispensable sensor in the RoboTaxis Maximum, a leading autonomous car product. RoboSense, invested through Fosun RZ Capital, seized the opportunity of immediate LiDAR progression, supplying its LiDAR answers for autonomous driving to many of the world’s leading companies. On September 17, RoboSense worked with Alibaba, the world leader in data systems generation, and helped its DAMO Academy launch its first driverless terminal product, “Xiaomanlv” (2) (3), creating a new wave in the logistics robot market. In addition to facilitating the use of large-scale advertising for commercial and last-mile delivery scenarios, RoboSense will capture each and every opportunity to update its technologies so that robots and artificial intelligence can be used more conveniently.
Today, IoT has long been an indispensable indicator of a country’s business competitiveness and innovation capacity. The explosive progression of AI, 5G, and IoT, coupled with falling core component prices, have accelerated the penetration of IoT. From keys to fingerprints, the changing shapes of door locks represent the arrival of ‘wise life’. Yunding has made technological inventions to provide the industry with the ultimate comprehensive lock detection solution. With the increasing demand for rental apartments, smart door locks are also a necessity. Experiments show that the “little black box”, which is said to be able to unlock many electronic locks, cannot break Yunding locks even with electromagnetic pulse attack height point for 3 seconds, showing that Loock locks are convenient and safe. When it comes to apartment operations, smart technologies can reduce the strain on control while lowering operating prices. So far, Yunding has provided products to more than 500 apartments, accounting for more than 80% of the top 100 sensitive apartment brands. Yunding also has a 60% share of the smart lock market. Recently, Yunding has partnered with industry leaders to add Xiaomi Security, Alibaba Cloud, Goodix, Silicon Labs and Future Technology, to build a smart lock security lab to achieve data exchange between other brands. And to better serve Yunding’s 8. 5 million users. (4)
Fosun RZ Capital vigorously explores IoT to create a cutting-edge ecology for the generation industry. Research has shown that by 2020, the virtual world will capture 44 trillion environmental knowledge. In this new virtual world, cutting-edge technologies provide knowledge and many interconnected. gadgets for IoT, turning people’s lifestyle into all its aspects. Fosun RZ Capital will continue to focus on generation investments to drive IoT progression and work with brilliant corporations around the world to boost and share growth.
The Association of Independent Mortgage Experts (AIME) announces Spark, a grant program designed to provide opportunities for wholesale loan entrepreneurs. Spark will launch with an initial investment of $2 million and propose two separate commercial subsidy programs “one for minorities and one for women,” with the express purpose of expanding diversity, equity and inclusion in the wholesale loan channel.
Spark will provide grants of up to $50,000 to be used for commercial expenses related to opening a brokerage. Beneficiaries should have resources and education from AIME, as well as advise other agents in the AIME network to grow as successful owners in the lending industry. The grant program will open programs on December 1, 2020 and bring together eligible programs through January 31, 2021. Applicants will need to complete the eligibility questionnaire to identify details, adding years of experience in the loan industry, the geographic location of their long-term brokerage, and a business plan describing their business objectives.
AIME was founded with the main project of creating the corridor channel. This grant will be one of the cornerstones of this commitment to serving other underrepresented individuals in the lending industry and providing borrowers with more local and committed loan experts, Katie said. Sweeney, executive vice president of strategy at AIME. Spark is a component of AIME’s determination to expand and educate loan professionals in their careers, while offering borrowers more experienced in local and committed loans.
Initial investment for Spark grant programs will come from United Wholesale Mortgage and Home Points Community Foundation, which has committed $ 1 million to expand opportunities for independent loan officers and is committed to diversity and inclusion in the lending industry. wholesalers.
UWM is committed to developing the wholesale broker channel and offering agents who want to grow their business, said Mat Ishbia, president and CEO of United Wholesale Mortgage. Through Spark, AIME provides a diverse organization of professionals with the motivation to make the leap and become an entrepreneur to make home ownership a truth for consumers in their local community.
Home Point Financial is proud that Spark is the first $1 million recipient of our new network philanthropic foundation, said Phil Shoemaker, president of Origins at Home Point Financial. We are passionate about expanding opportunities for others from all walks of life interested in the lending industry, and confident in AIME’s ability to expand and diversify the broker channel through exclusive projects like Spark.
According to U. S. Census data, homeowners increased by 3. 8% over the past year, representing unprecedented expansion in recent years with short or negative increases. With a more varied representation in the channel, agents must provide borrowers with the most productive characteristics for their home purchases.
About the Association of Independent Mortgage Experts
The Association of Independent Mortgage Experts (AIME) is a national non-profit agreement created exclusively for independent loan agents. With more than 40,000 members, AIME is committed to fostering an inclusive environment and protecting independent lending agents across the country to expand the wholesale lending channel. AIME’s vision is to contribute to the overall expansion of the percentage of the stock market to more than 25% in 2020 and beyond.
To learn more about the benefits of joining AIME, www. AIMEGroup. com.
BEIJING, September 26, 2020 / PRNewswire / – IoT is the third technological revolution after computers and the Internet, connecting allArray. .
SHENZHEN, China, 26 September 2020 / PRNewswire / – China’s pet-centric platform, Boqii Holding Limited (BQ. U. S. A. ) He has submitted an initial public supply matrix.
The Association of Independent Mortgage Experts (AIME) announces Spark, a grant program designed to provide opportunities for marketing specialists.
AT Board of Directors
AT Board of Directors
Howard G. Smith continues its research on behalf of Huazhu Group Limited (Huazhu or the company) (NASDAQ: Array. .
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Technavio oversees the cardiovascular catheter market and is expected to grow to $3. 07 billion by 2020-2024, Array. .
AM Best is Gold Sponsor of the SIR 2020 Annual Virtual Conference, October 1 and 20, 22, 2020 and . . .
Research from feinstein Institutes of Medical Research and Northwell Healths’ Nephrology Division have in the past reported that more than Array. .
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