AM Best Affirms Credit Ratings of Union Insurance Company Limited

 

HONG KONG, May 21 (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 Union Insurance Company Limited (Union) (Taiwan). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect Union’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 (ERM).

Union’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 as of year-end 2025. AM Best expects Union’s risk-adjusted capitalisation to remain at the strongest level over the intermediate term, supported by partial retention of positive operating earnings. Union’s regulatory solvency capital is expected to maintain a healthy capital buffer above the minimum requirements. Other supporting factors include a comprehensive reinsurance programme, favourable financial flexibility, and a consistent investment strategy.

Union reported stable operating results in 2025, with a return on adjusted capital and surplus of 11.8%, based on AM Best’s calculations. The company’s top-line performance has remained stable, despite posting a slightly lower-than-average premium growth rate in its voluntary motor segment. Union has refined its underwriting strategy to improve profitability and actively expanded its business offerings including accident and health (A&H) and commercial liability. Underwriting profitability has improved consistently, with a record low net combined ratio of 91.1% in 2025, as calculated by AM Best. The company recorded a net investment yield of 3.0% (including capital gains and losses) last year, which was impacted moderately by foreign exchange volatility. Going forward, AM Best expects Union to maintain its asset allocation strategy with a focus on domestic fixed-income and equity investments to generate stable investment returns.

Union is a medium-sized insurer in Taiwan’s non-life market and ranked eighth in 2025, based on direct premiums written. Similar to other companies in the market, Union’s underwriting portfolio is diversified moderately but slightly skewed toward motor insurance, with its other key business lines being the commercial fire, liability, and A&H segments. The company has maintained a well-diversified distribution mix, with major business contributors being car dealers, the direct channel, and brokers. Union’s ERM is considered appropriate to support its risk profile.

Negative rating actions could occur if there is a material deterioration in Union’s operating performance. Positive rating actions may occur due to a sustained improvement in the company’s operating performance. While deemed unlikely over the near term, positive rating actions could arise if Union’s balance sheet strength fundamentals improve favourably.

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 © 2026 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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Contact

Madison Fan
Senior Financial Analyst
+852 2827 3416
madison.fan@ambest.com

James Chan
Director, Analytics
+852 2827 3418
james.chan@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

Bitget Launches “Gold Fast or Go Home Challenge” for Gold CFD Trading

VICTORIA, Seychelles, May 21 (Bernama-GLOBE NEWSWIRE) -- Bitget, the world’s largest Universal Exchange (UEX), has launched the “Gold Fast or Go Home Challenge,” a global campaign built around faster access to gold CFD trading on the Bitget app. The campaign follows Bitget’s recent product update that moved TradFi products, including gold, forex, commodities, and indices, to a first-level homepage tab, reducing the number of steps required to access these markets directly from the homepage.

The challenge invites users to record themselves by opening the Bitget app, entering the TradFi section, and completing an XAUUSD gold CFD trade as quickly as possible. Participants will publish their attempts across social platforms as part of a global speed-based trading challenge designed around accessibility, execution flow, and real-time market participation. The campaign combines trading culture with short-form social content, turning product speed into a visible user experience.

The campaign reflects Bitget’s broader direction of bringing traditional financial assets closer to crypto-native trading environments through a unified interface. Users can move between crypto assets, tokenized products, forex pairs, commodities, and gold CFD markets from a single account structure without switching across multiple platforms, wallets, or trading systems.

“Users increasingly move between crypto and traditional financial markets within the same trading cycle, especially during periods shaped by macro volatility,” said Gracy Chen, CEO at Bitget. “We have designed the platform to make these markets more directly accessible inside the app. The challenge turns that trading flow into a public and community-driven experience that shows how multi-asset trading behavior is evolving.”

Gold trading activity has continued gaining traction globally as investors monitor interest rate expectations, central bank accumulation trends, inflation risks, and geopolitical uncertainty. Across digital asset platforms, gold CFDs have become one of the most actively monitored TradFi products during periods of elevated volatility, particularly as users look for faster access to macro-sensitive assets without leaving crypto-native trading environments.

The homepage TradFi integration forms part of Bitget’s wider Universal Exchange strategy focused on reducing fragmentation between digital assets and traditional financial markets. As more users diversify across asset classes, trading platforms are increasingly expected to support crypto, commodities, equities, FX, and tokenized assets within a single interface and collateral system. Bitget’s TradFi expansion reflects growing market demand for unified multi-asset access and faster capital movement between trading categories.

The launch also follows Bitget’s continued expansion of its TradFi offering across global markets. The platform currently provides access to crypto markets alongside tokenized stocks, ETFs, commodities, forex pairs, and precious metals such as gold within one trading ecosystem. In 2026, Bitget repositioned its TradFi section to the app homepage as part of a broader effort to simplify market access and improve execution efficiency across multi-asset trading activity.

For more information, visit here.

About Bitget

Bitget is the world’s largest Universal Exchange (UEX), serving over 125 million users and offering access to over 2M crypto tokens, 100+ tokenized stocks, ETFs, commodities, FX, and precious metals such as gold. The ecosystem is committed to helping users trade smarter with its AI agent, which co-pilots trade execution. Bitget is driving crypto adoption through strategic partnerships with LALIGA and MotoGP™. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. Bitget currently leads in the tokenized TradFi market, providing the industry’s lowest fees and highest liquidity across 150 regions worldwide.

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

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/3484ccd0-5df8-4c93-91cb-c0bdf7495349

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

PRIMER SECURES US$100 MLN FUNDING FOR AI, US EXPANSION

Primer leadership team pictured left to right. Top row: Pierre-Edouard Jumel (CFO), Gabriel Le Roux (Co-Founder and CEO), Sam Elgar (VP Merchant Experience) and Theo Spyrides (VP Product). Bottom row: Caitriona Staunton (VP People), Alex Mallet (CTO), Jade Maitland (VP Marketing) and Mikael Minvielle (COO).

KUALA LUMPUR, May 20 (Bernama) -- Primer, the unified infrastructure for global payments, has secured a US$100 million Series C funding round as it expands its artificial intelligence (AI)-enabled operating layer for global payments and finance. (US$1=RM3.97)

The funding round was led by Sofina, with participation from Peak XV Partners and continued backing from existing investors, including Balderton Capital, Accel, ICONIQ Capital, Tencent, and Speedinvest.

In a statement, Primer said the new funding will support expanded investment in AI capabilities, including the development of its proprietary AI agent, Primer Companion.

The company said Primer Companion is already being used by merchants to address payment-related queries and generate contextual insights, with future capabilities expected to include autonomous experimentation, performance optimisation, and execution within merchant-defined parameters.

Primer said fragmented payment data across processors, acquirers, and fraud tools remains a major challenge for businesses seeking to deploy AI-driven payment systems effectively.

Founded in 2020, the company said its unified payments infrastructure captures more than 400 data points per transaction and manages more than 95 per cent of customer payment volume on average.

According to Primer, the United States (US) currently accounts for around one-fifth of company revenue, with annual recurring revenue in the region doubling year-on-year.

The company plans to increase US revenue to more than one-third of its business by 2028 and expects to hire up to 50 employees in the region to support its expansion strategy.

-- BERNAMA

SAMSUNG BIOEPIS LAUNCHES FIRST PRODUCT IN JAPAN UNDER NIPRO PARTNERSHIP

KUALA LUMPUR, May 20 (Bernama) -- Samsung Bioepis Co Ltd has launched Ustekinumab BS 45 mg Syringe for S.C. Injection「 NIPRO」, a biosimilar referencing Stelara (ustekinumab), marking its first product launch in Japan with NIPRO Corporation (NIPRO).

According to Samsung Bioepis in a statement, the launch follows the product’s listing under Japan’s National Health Insurance (NHI) Drug Price Standard, which became effective following an Official Gazette announcement on May 19.

“Together with our partner NIPRO, we look forward to supporting patients living with autoimmune diseases and contributing to the sustainability of Japan's healthcare system by providing quality-assured, safe and effective biosimilar options,” said Samsung Bioepis Vice President and Head of Commercial Strategy for International Markets, Jinhan Chung.

Ustekinumab is a human immunoglobulin G1 kappa monoclonal antibody designed to prevent abnormal regulation of IL-12 and IL-23 associated with immune-mediated diseases.

Japan’s Pharmaceuticals and Medical Devices Agency granted marketing authorisation for the product in December 2025 for the treatment of plaque psoriasis and psoriatic arthritis.

Samsung Bioepis said it formed a strategic partnership with NIPRO in June 2025 to develop and commercialise multiple biosimilar candidates in Japan, including ustekinumab.

The company added that its ustekinumab biosimilar is already available under different brand names across the European Union, South Korea, the United Kingdom, and the United States.

-- BERNAMA

CLOUDFLARE, ANTHROPIC TO PROVIDE SECURE, SCALABLE FOUNDATION FOR AUTONOMOUS AI

KUALA LUMPUR, May 20 (Bernama) -- Cloudflare Inc, the leading connectivity cloud company, is collaborating with Anthropic to launch Cloudflare Environments for Claude Managed Agents, aimed at providing a secure and scalable foundation for autonomous artificial intelligence (AI) agents.

The integration enables organisations to run core agent loops on Anthropic’s Claude platform while leveraging Cloudflare’s global network and Workers developer platform to execute code, secure private connections, and equip agents with specialised tools.

Cloudflare in a statement said the platform is designed to help developers build next-generation AI assistants quickly and securely at a global scale.

Cloudflare co-founder and chief executive officer, Matthew Prince said the partnership would enable businesses to securely execute code and access private data using Cloudflare’s network infrastructure.

“Now, businesses can focus on building the most innovative AI applications on the planet,” he said.

According to Cloudflare, the platform provides secure sandboxes for every AI agent session through a Workers-based control plane, while security and compliance controls are automatically applied.

The company said the infrastructure allows organisations to maintain strict security standards while scaling AI initiatives from prototypes to large-scale deployments without infrastructure bottlenecks.

Cloudflare Environments for Claude Managed Agents also enables developers to scale globally with diverse runtimes, secure sensitive data through Zero-Trust connectivity, audit agent behaviour using native observability tools, and extend agent capabilities through customisable frameworks.

The launch of Cloudflare Environments marks the latest milestone in its ongoing collaboration with Anthropic to strengthen AI connectivity and infrastructure capabilities.

-- BERNAMA

HACK THE BOX HIGHLIGHTS AI CYBERSECURITY SKILLS SHIFT

KUALA LUMPUR, May 20 (Bernama) -- Hack The Box, the global leader in artificial intelligence (AI) cybersecurity readiness, has released its Cybersecurity Workforce Intelligence Report, highlighting how AI is reshaping cybersecurity skills, career paths, and team structures globally.

Based on anonymised data from more than 702,000 cybersecurity professionals across 251 countries and territories, the report found growing demand for advanced AI-related skills and more integrated cybersecurity team models.

The findings suggest that as AI transforms both cyberattacks and defence strategies, the effectiveness of organisations will increasingly depend on workforce adaptability, readiness, and cross-functional expertise rather than technology alone.

According to Hack The Box in a statement, organisations are accelerating investments in AI security capabilities, with AI penetration testing emerging as a leading global training priority.

Cybersecurity practitioners are also placing greater focus on risks such as prompt injection, model exploitation, and agentic AI attacks, reflecting changing approaches to workforce preparation.

The report noted that traditional role boundaries are becoming less rigid, with growing overlap between offensive and defensive cybersecurity training supporting a more collaborative “purple-team” model.

Structured hands-on training programmes are accelerating this transition, with AI-focused training completion rates reaching 64 per cent, reinforcing the role of organisation-led learning in building advanced cybersecurity capabilities.

To remain effective in an AI-driven environment, the report said security leaders should prioritise AI security skills, expand global talent pipelines, invest in integrated training models, and commit to continuous workforce upskilling.

-- BERNAMA

MOBIX LABS TARGETS CRITICAL MINERALS SUPPLY CHAIN WITH SPD DEAL

KUALA LUMPUR, May 15 (Bernama) -- Mobix Labs has unveiled plans to expand into the strategic rare earth and critical minerals sector through a proposed acquisition of Special Project Delivery LLC (SPD), a United States (US)-based supply chain platform.

According to a statement, the proposed acquisition would expand Mobix Labs’ national security operations into the supply chain supporting modern defence, aerospace, and artificial intelligence infrastructure.

Mobix Labs currently supplies technologies for US and allied fighter jets, missiles, submarines, and satellites.

The company said the Letter of Intent is non-binding, and there can be no assurance that a definitive agreement will be executed or the proposed transaction completed.

-- BERNAMA