KUALA LUMPUR, May 26 (Bernama) -- ICHAM Pte Ltd, a regional multi-family office and alternative asset manager, has launched a new open-ended Singapore Variable Capital Company (VCC) fund that invests in selected sectors of United States (US) equities and incorporates option-based strategies.
The fund aims to provide periodic income generation potential and total returns for investors and is available exclusively to accredited and institutional investors, according to ICHAM in a statement.
ICHAM Chief Executive Officer, Archan Chamapun said the investment strategy combines a value-orientated approach with an income-focused overlay within US equities to enhance income generation potential and total returns.
“The fund is designed to offer a sector rotation approach to US large-cap equities beyond traditional market cap weights,” he said.
Meanwhile, the fund’s lead Portfolio Manager, Felix Chew said the investment approach is designed to balance participation in equity markets while targeting periodic income distribution objectives across different market conditions.
With US equity valuations near historic highs and interest rates remaining volatile, the fund may appeal to accredited and institutional investors seeking income-orientated strategies in the current market environment.
Backed by academic research, the fund adopts a rules-based institutional investment framework focused on long-term risk management within a systematic investment framework for investors in the long term.
ICHAM has been serving accredited and institutional investors with tailored investment solutions since 2019 and is recognised for its expertise in alternative asset classes and structured products.
-- BERNAMA
Tuesday, 26 May 2026
Monday, 25 May 2026
INSTRUQT POWERS LARGE-SCALE AGENTIC AI TRAINING AT GOOGLE NEXT 2026
KUALA LUMPUR, May 25 (Bernama) -- Instruqt, the hands-on product experience platform, announced that Google Cloud Security used its platform to train more than 150 practitioners on Agentic artificial intelligence (AI) capabilities during Google Next 2026.
The session, branded the Agentic SOC Experience, was described as one of the largest hands-on Agentic AI training workshops held at a major industry conference this year, according to Instruqt in a statement.
Using Instruqt’s platform, participants created dedicated Google Cloud Vertex AI environments, enabling them to build and test AI agents in isolated sandbox settings instead of relying on slide-based demonstrations.
Instruqt Vice President of Marketing, Tyler Crumpler said companies developing AI products must focus on enabling customers to use the technologies effectively through real-world environments and practical applications.
Meanwhile, Google Cloud Security pre-sales engineer, Keith Manville said the platform enabled participants to gain practical understanding of agentic AI tools and workflows through interactive learning.
The initiative reflects broader industry efforts to narrow the gap between AI product launches and customer adoption, as enterprises seek more practical and scalable training methods.
Citing the 2026 State of Developer Adoption Report by SlashData, the company said 92 per cent of practitioners face at least one major adoption challenge, including technology complexity, team misalignment and outdated content.
-- BERNAMA
The session, branded the Agentic SOC Experience, was described as one of the largest hands-on Agentic AI training workshops held at a major industry conference this year, according to Instruqt in a statement.
Using Instruqt’s platform, participants created dedicated Google Cloud Vertex AI environments, enabling them to build and test AI agents in isolated sandbox settings instead of relying on slide-based demonstrations.
Instruqt Vice President of Marketing, Tyler Crumpler said companies developing AI products must focus on enabling customers to use the technologies effectively through real-world environments and practical applications.
Meanwhile, Google Cloud Security pre-sales engineer, Keith Manville said the platform enabled participants to gain practical understanding of agentic AI tools and workflows through interactive learning.
The initiative reflects broader industry efforts to narrow the gap between AI product launches and customer adoption, as enterprises seek more practical and scalable training methods.
Citing the 2026 State of Developer Adoption Report by SlashData, the company said 92 per cent of practitioners face at least one major adoption challenge, including technology complexity, team misalignment and outdated content.
-- BERNAMA
STONESHIELD CAPITAL TO INCREASE STAKE IN EXOLUM TO 20 PCT
KUALA LUMPUR, May 25 (Bernama) -- Stoneshield Capital, a European real assets investment firm, has signed an agreement to acquire a 15 per cent stake in Exolum from OMERS, building on its existing investment in the company.
According to a statement, the firm acquired a 4.93 per cent stake in January this year, and once the transaction closes in the third quarter of 2026, its total holding in Exolum will rise to approximately 20 per cent.
The remaining 10 per cent of OMERS’ approximately 25 per cent stake is being separately acquired by a leading global investment firm. OMERS, together with its investment partners, has been invested in Exolum since 2016.
Stoneshield Capital co-founders, Felipe Morenés Botín and Juan Pepa said the firm has followed Exolum’s progress closely as an existing shareholder, including its international expansion, operational performance and growing role in the energy transition.
“Increasing our investment and taking active board representation reflects our conviction in Exolum’s distinctive combination of real assets quality, geographic reach and strategic relevance, and our commitment to supporting management as the company continues to strengthen its position as one of Europe’s leading energy logistics platforms,” said the co-founders.
Meanwhile, OMERS Infrastructure Senior Managing Director and Head of Europe, Luca Lupo said the transaction reflects the quality of the business and the firm’s disciplined approach to portfolio management and capital rotation.
Exolum is a Spanish-headquartered global energy logistics company specialising in the transportation, storage and distribution of refined products, bulk liquids and aviation fuels, while also supporting the energy transition.
The company operates a 4,000-kilometre (km) pipeline network in Spain and a further 2,000 km network in the United Kingdom, alongside 68 storage terminals with more than 11 million cubic metres of capacity serving over 48 airports globally.
Following completion, Stoneshield Capital will assume three of OMERS’ board seats, while the second investor will take the remaining two.
-- BERNAMA
According to a statement, the firm acquired a 4.93 per cent stake in January this year, and once the transaction closes in the third quarter of 2026, its total holding in Exolum will rise to approximately 20 per cent.
The remaining 10 per cent of OMERS’ approximately 25 per cent stake is being separately acquired by a leading global investment firm. OMERS, together with its investment partners, has been invested in Exolum since 2016.
Stoneshield Capital co-founders, Felipe Morenés Botín and Juan Pepa said the firm has followed Exolum’s progress closely as an existing shareholder, including its international expansion, operational performance and growing role in the energy transition.
“Increasing our investment and taking active board representation reflects our conviction in Exolum’s distinctive combination of real assets quality, geographic reach and strategic relevance, and our commitment to supporting management as the company continues to strengthen its position as one of Europe’s leading energy logistics platforms,” said the co-founders.
Meanwhile, OMERS Infrastructure Senior Managing Director and Head of Europe, Luca Lupo said the transaction reflects the quality of the business and the firm’s disciplined approach to portfolio management and capital rotation.
Exolum is a Spanish-headquartered global energy logistics company specialising in the transportation, storage and distribution of refined products, bulk liquids and aviation fuels, while also supporting the energy transition.
The company operates a 4,000-kilometre (km) pipeline network in Spain and a further 2,000 km network in the United Kingdom, alongside 68 storage terminals with more than 11 million cubic metres of capacity serving over 48 airports globally.
Following completion, Stoneshield Capital will assume three of OMERS’ board seats, while the second investor will take the remaining two.
-- BERNAMA
ABAXX LAUNCHES SILVER SINGAPORE FUTURES TRADING
KUALA LUMPUR, May 25 (Bernama) -- Abaxx Technologies Inc (Abaxx), a financial software and market infrastructure company, announced that trading has commenced in Silver Singapore (SSP) futures, expanding Abaxx Exchange’s precious metals product suite.
The contract is designed to address the gap between global silver price formation and the physical requirements of Asia’s industrial silver market, where demand for higher-purity material is increasing across solar and advanced electronics supply chains.
By establishing a physically deliverable four-nines silver benchmark in Singapore, Abaxx SSP futures are intended to support more direct price discovery and hedging for commercial participants managing physical silver exposure in the region.
According to a statement, the Abaxx SSP futures contract is a United States dollar-denominated, 1,000-troy-ounce, physically deliverable product of 0.9999 fineness, with delivery into approved vaults in Singapore, including Brink’s Singapore.
Silver Institute President and Chief Executive Officer Michael DiRienzo said the launch marks a meaningful step forward for the global silver market, adding that Abaxx is addressing a long-standing gap in price discovery for Asia’s industrial silver users.
“The Silver Institute welcomes innovations that strengthen market infrastructure and give commercial participants better tools to manage their physical silver exposure,” he said.
SSP futures are available for trading from 10 am for 14 hours on weekdays, except Singapore public holidays.
-- BERNAMA
The contract is designed to address the gap between global silver price formation and the physical requirements of Asia’s industrial silver market, where demand for higher-purity material is increasing across solar and advanced electronics supply chains.
By establishing a physically deliverable four-nines silver benchmark in Singapore, Abaxx SSP futures are intended to support more direct price discovery and hedging for commercial participants managing physical silver exposure in the region.
According to a statement, the Abaxx SSP futures contract is a United States dollar-denominated, 1,000-troy-ounce, physically deliverable product of 0.9999 fineness, with delivery into approved vaults in Singapore, including Brink’s Singapore.
Silver Institute President and Chief Executive Officer Michael DiRienzo said the launch marks a meaningful step forward for the global silver market, adding that Abaxx is addressing a long-standing gap in price discovery for Asia’s industrial silver users.
“The Silver Institute welcomes innovations that strengthen market infrastructure and give commercial participants better tools to manage their physical silver exposure,” he said.
SSP futures are available for trading from 10 am for 14 hours on weekdays, except Singapore public holidays.
-- BERNAMA
Friday, 22 May 2026
EMGA arranges USD 15m financing for Asia Alliance Bank from OeEB
LONDON, May 22 (Bernama-GLOBE NEWSWIRE) -- Emerging Markets Global Advisory LLP is delighted to announce yet another closing in Uzbekistan having secured funding from OeEB, the Development Bank of Austria, to support Asia Alliance Bank.
Commenting on the transaction, Asia Alliance Bank’s CEO, Mr. Umidjon Abduazimov, said: “This new USD 15 million facility represents an important step in the Bank’s ongoing development and will support the further expansion of financing for SMEs, women entrepreneurship, and green projects in Uzbekistan, which are becoming increasingly important across the country’s economy. The transaction also reflects the Bank’s continued growth, diversification of international funding sources, and commitment to supporting sustainable private sector development in Uzbekistan. At the same time, this cooperation demonstrates the growing confidence of international development finance institutions in both Asia Alliance Bank and Uzbekistan’s banking sector and economic potential overall.
Also commenting on the transaction, Sabine Gaber, CEO and Member of OeEB’s Executive Board, said “Our partnership with Asia Alliance Bank is a strong fit for us, as it combines three key priorities of our strategy: expanding access to finance for underserved MSMEs, advancing gender equality through support for women-owned businesses, and promoting green finance investments that contribute to a more sustainable economy. Through this investment, we aim to support long-term economic inclusion, resilience and job creation across Uzbekistan.”
Emerging Markets Global Advisory LLP (EMGA)’s Managing Director and Head of Investment Banking Sajeev Chakkalakal said “It was a pleasure to work together on an initial transaction with AAB and enable this innovative financing for the MSME and green sectors within the Uzbek economy. Furthermore, we relished the opportunity to cooperate again with OeEB, who as a leading DFI have been a long-term repeat investor in our transactions globally.”
Emerging Markets Global Advisory LLP (EMGA)’s Managing Director and Head of Operations, Jeremy Dobson commented “AAB is a fast-rising player in the highly competitive Uzbek banking sector, and we are proud to have enabled another step in their growth curve.”
Asia Alliance Bank (AAB) is a leading private commercial bank in Uzbekistan, providing a broad range of corporate, SME, trade finance, treasury, and retail banking services. Established in 2009, the bank has built a strong reputation for supporting entrepreneurship, international trade, and private sector development across the country. Asia Alliance Bank has received multiple international awards for SME financing and innovation and continues to expand its digital banking capabilities and international partnerships.
OeEB was founded in March 2008 as the development bank of the Republic of Austria. With a public mandate OeEB works for better living conditions in developing countries. OeEB is present in markets in which companies often have no or limited access to urgently needed capital, both credit and equity. Investments in these projects create jobs; these projects increase tax revenues and bring foreign currency into the country. OeEB is a wholly owned subsidiary of Oesterreichische Kontrollbank (OeKB).
Emerging Markets Global Advisory LLP (EMGA), is an emerging markets investment banking boutique with offices in New York and London. It helps financial institutions and corporates as well as project finance sponsors that seek new debt or equity capital. EMGA provides its services, to clients within many of the world’s rapidly developing economies, including Uzbekistan which remains a key market. With a proven track record in capital formation and strategic advisory throughout diverse economic cycles, EMGA continues to expand its geographic reach and service offering, as it solidifies its place in the market as one of the industry’s preeminent emerging markets focused investment banks.
Contact info@emergingmarketsglobaladvisory.com
SOURCE: Emerging Markets Global Advisory
--BERNAMA
Commenting on the transaction, Asia Alliance Bank’s CEO, Mr. Umidjon Abduazimov, said: “This new USD 15 million facility represents an important step in the Bank’s ongoing development and will support the further expansion of financing for SMEs, women entrepreneurship, and green projects in Uzbekistan, which are becoming increasingly important across the country’s economy. The transaction also reflects the Bank’s continued growth, diversification of international funding sources, and commitment to supporting sustainable private sector development in Uzbekistan. At the same time, this cooperation demonstrates the growing confidence of international development finance institutions in both Asia Alliance Bank and Uzbekistan’s banking sector and economic potential overall.
Also commenting on the transaction, Sabine Gaber, CEO and Member of OeEB’s Executive Board, said “Our partnership with Asia Alliance Bank is a strong fit for us, as it combines three key priorities of our strategy: expanding access to finance for underserved MSMEs, advancing gender equality through support for women-owned businesses, and promoting green finance investments that contribute to a more sustainable economy. Through this investment, we aim to support long-term economic inclusion, resilience and job creation across Uzbekistan.”
Emerging Markets Global Advisory LLP (EMGA)’s Managing Director and Head of Investment Banking Sajeev Chakkalakal said “It was a pleasure to work together on an initial transaction with AAB and enable this innovative financing for the MSME and green sectors within the Uzbek economy. Furthermore, we relished the opportunity to cooperate again with OeEB, who as a leading DFI have been a long-term repeat investor in our transactions globally.”
Emerging Markets Global Advisory LLP (EMGA)’s Managing Director and Head of Operations, Jeremy Dobson commented “AAB is a fast-rising player in the highly competitive Uzbek banking sector, and we are proud to have enabled another step in their growth curve.”
Asia Alliance Bank (AAB) is a leading private commercial bank in Uzbekistan, providing a broad range of corporate, SME, trade finance, treasury, and retail banking services. Established in 2009, the bank has built a strong reputation for supporting entrepreneurship, international trade, and private sector development across the country. Asia Alliance Bank has received multiple international awards for SME financing and innovation and continues to expand its digital banking capabilities and international partnerships.
OeEB was founded in March 2008 as the development bank of the Republic of Austria. With a public mandate OeEB works for better living conditions in developing countries. OeEB is present in markets in which companies often have no or limited access to urgently needed capital, both credit and equity. Investments in these projects create jobs; these projects increase tax revenues and bring foreign currency into the country. OeEB is a wholly owned subsidiary of Oesterreichische Kontrollbank (OeKB).
Emerging Markets Global Advisory LLP (EMGA), is an emerging markets investment banking boutique with offices in New York and London. It helps financial institutions and corporates as well as project finance sponsors that seek new debt or equity capital. EMGA provides its services, to clients within many of the world’s rapidly developing economies, including Uzbekistan which remains a key market. With a proven track record in capital formation and strategic advisory throughout diverse economic cycles, EMGA continues to expand its geographic reach and service offering, as it solidifies its place in the market as one of the industry’s preeminent emerging markets focused investment banks.
Contact info@emergingmarketsglobaladvisory.com
SOURCE: Emerging Markets Global Advisory
--BERNAMA
Thursday, 21 May 2026
Kays + Kins Announces Grand Opening of First Flagship Store in Malaysia
 |
(L-R) Mr Adrian Cheah, General Manager of Marketing, Pavilion Bukit Jalil, Mr. Lee Jia Wei, Founder of GAIAS Home, Mr. Tan Kien Yow and Ms. Karine Low, Founders of Kays + Kins, Ms. Katie Tan, Kays + Kins’ advisor, Ms. Irene Ong, Head of Retail of Kays + Kins |
KUALA LUMPUR, May 21 (Bernama) -- Kays + Kins, the comfort-driven, design-led lifestyle brand for modern families, has officially announced the opening of its first physical flagship store in Malaysia. Located at Pavilion Bukit Jalil, the new boutique marks an exciting milestone for the homegrown brand, previously only available online, offering customers a warm and personal space to experience its thoughtfully designed baby essentials firsthand.
Known for its elevated essentials made for practical baby wear, Kays + Kins has built a loyal following through its signature approach to comfort, quality and timeless design. Designed with South East Asia’s warm and humid climate in mind, the brand’s collections feature relaxed, non-body-hugging silhouettes and soft, breathable fabrics that support ease of movement and all-day comfort for babies and toddlers.
The opening of its first physical store brings the Kays + Kins experience to life beyond the digital space, giving customers the opportunity to feel the softness of its fabrics in person, discover the details behind its hand-painted prints, and shop in an environment that reflects the brand’s calm and intentional aesthetic.
“As we grew our brand in Malaysia, our community has always asked for a space where they can experience our fabrics in person and discover for themselves the details that make each piece special, such as the softness of our bamboo muslins and the hand-painted details of our prints,” says Karine Low, Founder of Kays + Kins.
“So with the opening of this physical store, we wanted to go beyond retail to create more personal experiences of the brand. We wanted a space where parents and gift-givers can take their time, feel the quality of our pieces, and find something that is both practical and beautiful for everyday family life,” she added.
At the heart of Kays + Kins is a comfort-first design philosophy. Each piece is created to feel gentle, breathable and easy to wear, especially in tropical weather. The brand’s fabric choices are selected not just for softness on first touch, but for how they continue to feel over time, remaining soft and comfortable even after repeated washes, making them especially suited for daily use.
This focus on thoughtful design also extends to the brand’s visual identity. Kays + Kins is known for its limited, hand-painted prints that are intentionally designed to feel timeless and distinctive, rather than mass-produced. Together with its understated colour palette and refined product styling, the brand offers a lifestyle sensibility that resonates with modern parents looking for baby essentials that are as beautiful as they are functional.
Beyond everyday wear, gifting plays a key part of the Kays + Kins brand experience. The flagship store is designed to support meaningful and even last-minute gifting moments, with a curated range of newborn gift sets, Bamboo Muslin Swaddles, signature two-way zipper Growsuits and Sleepsuits, customisable wooden keepsake boxes with personalised engraving services, and the exclusive Heritage Collection available only in-store. The ideal go-to place for baby showers, full-moon celebrations or simply welcoming a newborn, the store offers customers a thoughtful and convenient destination for gifts that feel personal and memorable.
The boutique itself features a minimalist, earthy-luxe interior inspired by nature, creating a calm and inviting environment for families and gift-givers alike.
While comfort, design and experience remain central to the brand, Kays + Kins also maintains a strong commitment to quality and responsible production. Its collections include GOTS-certified organic cotton and OEKO-TEX certified garments, providing parents with added assurance that every piece meets recognised standards for safety and care.
To celebrate its opening, Kays + Kins is offering 20% off the purchase of three items as part of its Grand Opening promotion. Running till 30 April 2026, the promotion is applicable to all products except Bundle Deals.
For further information about Kays + Kins and its product offerings, please visit kaysandkins.com.
About Kays + Kins
At Kays + Kins, comfort always comes first. We design everyday babywear to feel as good as it looks — gentle on delicate skin, breathable, and made to support real parenting moments.
Functionality is thoughtfully built into every detail, from easy-to-wear silhouettes to durable fabrics that move with your baby. Beyond clothing, we extend this same care to gifting — creating beautiful newborn gifts that are meaningful, practical, and made for everyday comfort.
Each season features unique, limited-edition prints, hand-illustrated and released in small quantities, making every piece quietly special and distinctive.
Made with GOTS-certified organic fabrics, Kays + Kins pieces prioritise softness, safety, and sustainability — offering babies comfort, beauty, and care from the very beginning.
Issued on behalf of Kays + Kins by GO Communications Sdn Bhd.
SOURCE: Kays + Kins Malaysia
FOR MORE INFORMATION, PLEASE CONTACT:
Tel: +603-2711 9566
Email: hello@kaysandkins.com
GO Communications Sdn Bhd
Name: Amanda Yee
Senior Brand Executive
Tel: +6016 319 2629
Email: amandayee@gocomm.com.my
Name: Choulyin Tan
Chief Operating Officer
Tel: +6016 856 7286
Eamil: choulyin@gocomm.com.my
--BERNAMA
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.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20260520635907/en/
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
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.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20260520635907/en/
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
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