H2O.AI'S H2OGPTE AGENT CLINCHES TOP SPOT ON GAIA BENCHMARK

 

h2oGPTe Agent Tops GAIA Benchmark Test Results Dec 2024 (Graphic: Business Wire)

KUALA LUMPUR, Dec 24 (Bernama) -- The leader in open-source generative artificial intelligence (AI) and predictive AI platforms, H2O.ai, announced its h2oGPTe Agent has taken the top position on the General AI Assistants (GAIA) benchmark leaderboard with an unprecedented score of 65 per cent.

This milestone places it ahead of competitors, including Google’s Langfun Agent (49 per cent), Microsoft Research (38 per cent), and Hugging Face (33 per cent), setting a new benchmark for general-purpose AI agents.

This achievement solidifies H2O.ai’s leadership in the global race to build intelligent, adaptable AI assistants capable of transforming businesses.

H2O.ai Founder and Chief Executive Officer, Sri Ambati shared his enthusiasm, noting that AI is only 30 per cent away from matching human-level intelligence according to the GAIA benchmark.

He also emphasised the significant leap in performance, with h2oGPTe Agentic AI surpassing the previous record by 15 per cent, outperforming Google DeepMind’s researchers, and beating Microsoft Research’s agent Magentic-1 by 27 per cent.

“Agentic AI is eating SaaS and with h2oGPTe Agentic AI now being generally available, all our enterprise customers can solve a wide range of sophisticated business and research problems,” he said in a statement.

The GAIA benchmark is a critical measure of AI's ability to tackle complex, real-world tasks that require a lot of time, thought and effort from skilled humans.

It involves hundreds of challenges demanding research, data analysis, document handling and reasoning, with degree-holding human respondents achieving a score of 92 per cent and requiring several human-days to solve all 300 test set problems.

H2O.ai's h2oGPTe Agent outpaced competitors by delivering consistent robustness, accuracy and efficiency, highlighting its readiness for enterprise use cases that depend heavily on skilled human assistants.

The company’s success underscores its philosophy of simplicity and adaptability with advanced reasoning and planning, multimodal comprehension, and code execution, offering solutions for complex problems across various industries, further reaffirming its leadership in AI innovation to reshape business workflows with intelligent, adaptable agentic systems.

-- BERNAMA

PACIFIC PRIME CXA'S FLEX PORTAL WINS BRONZE FOR BEST HR MANAGEMENT SYSTEM (SMB)

KUALA LUMPUR, Dec 23 (Bernama) -- Global employee benefits specialist, Pacific Prime CXA’s Flex Portal was honoured with the Bronze Award for Best HR Management System (SMB) at the HR Vendors of the Year Awards, presented by Human Resources Online in Singapore.

A resounding echo of last year, where the company won the Bronze Award for Best HR Management System (Enterprise), Pacific Prime CXA has gone to outstanding lengths to remain a top insurance broker in terms of human resources (HR) management systems and international health insurance, retaining their unique position as the only broker to win awards in this category.

“This recognition is a testament to the hard work and innovation of our talented team. The Flex Portal was designed with a strong commitment to helping small and medium-sized businesses attract and retain top talent.

“We remain focused on ongoing innovation, and with continued collaboration, we are confident that the Flex Portal will continue to shape the future of HR management and employee benefits, enabling businesses and their employees to thrive in a rapidly changing world,” said Pacific Prime CXA chief executive officer, Heena Bose in a statement.

The HR Vendors of the Year Awards, held on Nov 8, is a prestigious annual event that honours leading HR solutions providers in Asia. This year’s ceremony took place at the Sofitel Singapore City Centre, gathering innovative HR solution providers from across Singapore.

The Flex Portal, voted among the top three HR management systems, is a state-of-the-art benefits management platform tailored to address the needs of small to medium-sized businesses (SMBs).

Designed to streamline employee benefits administration and boost staff engagement, the Flex Portal is equipped with features such as real-time eWallet updates, seamless integration with third-party providers, and a customisable interface. These features help simplify complex insurance mechanisms, ensuring efficiency and cost-effectiveness.

For HR teams, the portal automates administrative processes, reduces manual workloads, and provides a centralised platform for managing flex and insurance claims. Employees, on the other hand, benefit from a user-friendly interface that offers a personalised experience, from adjusting life and medical insurance coverage to accessing wellness resources and tailored health assessments.

Additional features such as optical character recognition (OCR) receipt scanning, a clinic locator, and in-app purchases further enhance convenience.

By addressing the unique challenges of SMBs, the Flex Portal maximises return on investment through flexibility and strategic cost management. Committed to continuous improvement and user-centric design, Pacific Prime CXA positions the Flex Portal as a vital tool for businesses seeking to thrive in a dynamic global environment.

-- BERNAMA

NEARFIELD INSTRUMENTS SECURES REPEAT ORDERS FOR QUADRA METROLOGY SYSTEM

KUALA LUMPUR, Dec 23 (Bernama) -- Nearfield Instruments, a pioneer in advanced process control metrology solutions, announced it has received repeat purchase orders for its flagship QUADRA High-Throughput Process Control Metrology System.

According to a statement, this follow-up order highlights the company’s increasing market traction and its success in penetrating high-volume manufacturing operations.

Nearfield Instruments chief executive officer, Hamed Sadeghian remarked that the repeat order is a testament to the system’s performance, reliability, and its essential role in supporting high-volume manufacturing.

He emphasised that the order reinforces the trust customers have in Nearfield to support their production objectives, and with the 2025 order book now full, the company remains committed to delivering innovative solutions that enhance manufacturing efficiency and yield.

The QUADRA system offers cutting-edge capabilities for in-line process control by Nearfield’s high-throughput AFM metrology technologies that deliver highly accurate, non-destructive 3D measurements of critical semiconductor parameters.

By providing real-time feedback on critical device structures, the system provides good correlation to device yield and enables manufacturers to maintain high yields and optimal performance in their production lines.

The system’s exceptional throughput allows manufacturers to quickly and accurately analyse large numbers of devices without compromising measurement precision, ensuring both efficiency and quality in the production process.

This repeat order from a leading semiconductor manufacturer highlights the growing confidence in the QUADRA platform as the industry advances to next-generation technologies.

The continued adoption of QUADRA systems by leading manufacturers further strengthens Nearfield Instruments’ position as a driving force in advanced process control metrology for mass production.

-- BERNAMA

EMGA OBTAINS US$90 MLN FINANCING FOR BRAZIL-BASED CLIENT FROM EIB

KUALA LUMPUR, Dec 20 (Bernama) -- Emerging Markets Global Advisory LLP (EMGA) has secured US$90 million in debt finance for its long-standing Brazil-based client, BTG Pactual, the largest investment bank in Latin America. (US$1=RM4.50)

According to a statement, the US$90 million senior unsecured loan was provided by the European Investment Bank (EIB) and the transaction follows on from a very recent transaction also advised by EMGA for US$210 million.

EMGA Managing Director and Head of Investment Banking, Sajeev Chakkalakal said this was a fantastic add-on transaction to the US$210 million green financing facility that the company raised for BTG from EIB.

“In this instance, this financing is aimed at funding BTG’s SME Lending portfolios and has an especially high development impact given that the finance will support small business development in disadvantaged regions of Brazil, and the additional focus on female entrepreneurs.

“EIB remains a key investor relationship for EMGA, and we are proud to have helped them increase their presence in Brazil as part of their broader EIB Global strategy,” added Chakkalakal.

Meanwhile, EMGA Managing Director and Head of Operations, Jeremy Dobson expressed pride in continuing the successful collaboration with BTG Pactual and EIB, reinforcing their commitment to arranging financing in Brazil and Latin America.

The EIB finances and invests both through equity and debt solutions and focuses on the areas of climate, environment, small and medium-sized enterprises (SMEs), development, cohesion and infrastructure.

On the other hand, EMGA, with offices in London and New York, helps financial institutions and corporates seeking new debt or equity capital.

-- BERNAMA

MEDIDATA, CLINCHOICE EXTEND PARTNERSHIP TO ENHANCE CLINICAL TRIAL EFFICIENCY, INNOVATION

KUALA LUMPUR, Dec 20 (Bernama) -- Medidata, a Dassault Systèmes brand and provider of clinical trial solutions to the life sciences industry, has renewed its long-standing enterprise partnership with ClinChoice, a global contract research organisation (CRO).

Under this new agreement, ClinChoice will utilise the Medidata Platform to streamline study data and supply management, boost trial efficiency, and accelerate growth as a full-service CRO in Asia, Europe, and North America.

ClinChoice also plans to prioritise Clinical Data Studio accreditation, further enhancing its capabilities through a transformative artificial intelligence (AI)-powered data quality management experience.

Medidata senior vice president and general manager, APAC, Edwin Ng in a statement said ClinChoice’s dedication to innovation and patient-centred approaches makes them an invaluable partner.

“With this renewed partnership, we look forward to empowering ClinChoice with Medidata’s advanced solutions to further streamline their trial operations, expand their global reach, and accelerate access to life-changing therapies for patients worldwide,” he said.

Meanwhile, ClinChoice global chairman and chief executive officer, Ling Zhen noted that since the company’s first implementation of Medidata Rave EDC in 2011, its partnership with Medidata has supported its development, starting in the United States, then China, and eventually to the wider global stage.

“We are delighted to extend our work together to include Medidata’s Clinical Data Studio and other advanced technologies to further boost our expansion,” Ling added.

ClinChoice’s commitment in utilising Medidata’s solution has spanned over a decade, facilitating secure connections among patients, sites, and sponsors within a unified cloud environment.

By integrating Medidata’s solutions, ClinChoice continues to strengthen its operational efficiency and position itself for growth in today’s increasingly complex clinical trial landscape.

-- BERNAMA

LUMI GLOBAL ACQUIRES ASSEMBLY VOTING TO BOLSTER PRODUCT LEADERSHIP, EXPAND GLOBAL REACH

KUALA LUMPUR, Dec 20 (Bernama) -- Lumi Global, a global leader in technology-driven meeting solutions, has acquired Assembly Voting, a technology company specialising in end-to-end verifiable, cloud-based elections and voting solutions.

According to a statement, this strategic acquisition reinforces Lumi Global’s commitment to innovation via Assembly Voting's verifiable, scalable Electa platform while expanding its capabilities beyond the live meeting environment to new market opportunities.

Lumi Global Chief Executive Officer (CEO), Richard Taylor said the acquisition marked a bold step forward for Lumi Global, as the company extends its product capabilities beyond the meeting day and into the wider elections market.

“The integration of Assembly Voting’s innovative technologies with Lumi’s Global platform will unlock new opportunities, ensuring we remain at the forefront of technology-driven meeting, election and voting solutions in annual general meetings, investor relations, and member organisation worldwide,” added Taylor.

Meanwhile, Assembly Voting CEO, Jacob Gyldenkaerne said: “This partnership not only expands the reach of our technology but also enhances our ability to serve an even more diverse, global client base with end-to-end verifiable election solutions.”

Among the key highlights of the acquisition include Assembly Voting enhances Lumi Global's portfolio by introducing advanced end-to-end verifiability, ensuring secure, transparent, and verifiable election and voting processes for clients worldwide.

Meanwhile, the Electa platform is purpose-built for scheduled elections and asynchronous voting, complementing Lumi Global’s existing solutions for live meetings and synchronous voting. With a focus on verifiability, security, and scalability, Electa broadens Lumi's ability to support organisations at all stages of their decision-making, both prior to and during key meetings.

The deal also establishes Lumi Global’s presence in Denmark and Spain, opening new opportunities in these strategically significant markets, and it is strategically positioned to deploy the Electa platform across its key markets in North America, Europe, the Middle East, and Africa, as well as Asia Pacific.

The acquisition brings Assembly Voting’s experienced development team, enriching Lumi Global’s innovation pipeline and opening new avenues for collaboration and growth.

Lumi Global’s acquisition of Assembly Voting underscores its dedication to powering the meetings and elections that matter for trusted decisions worldwide.

-- BERNAMA

MALAYSIA’S NON-LIFE INSURANCE SECTOR REMAINS STABLE DESPITE CLIMATE RISKS - AM BEST

KUALA LUMPUR, Dec 18 (Bernama) -- Global credit rating agency, AM Best has maintained a stable outlook on Malaysia’s non-life insurance segment, citing sustained underwriting and pricing discipline.

In a statement, AM Best said the stable outlook was also driven by expected premium growth backed by regulatory reforms designed to increase insurance penetration.

The Best’s “Market Segment Outlook: Malaysia Non-Life Insurance” report states that the non-life sector is poised for significant growth, underpinned by economic recovery, rate hikes due to high inflation and rising claims, as well as growing demand for digital insurance and takaful products.

Malaysia’s central bank and lead regulator have implemented various initiatives to improve non-life insurance penetration, which remains in the low single digits. By 2026, the goal is to achieve an insurance/takaful penetration rate of 4.8 to 5.0 per cent alongside doubling microinsurance/microtakaful coverage.

Additionally, growth in general takaful contributions has consistently outpaced that of conventional insurance in recent years, a trend expected to continue over the medium term.

At the same time, Malaysia’s non-life insurers face rising climate-related risks, with more frequent severe weather events affecting underwriting performance.

AM Best director, head of analytics, Victoria Ohorodnyk indicates that, while recent premium rate increases following significant flooding in 2021 have provided some relief, the sector remains vulnerable to the ongoing volatility from climate risks, especially in fire-related insurance.

Meanwhile, the continued de-tariffication of motor and fire insurance is expected to increase pressure on pricing over the near to medium term while strengthening the industry’s long-term sustainability, as well as drive product innovation.

-- BERNAMA

NIKE, INC. & NFL EXTEND LONG-STANDING PARTNERSHIP THROUGH 2038

Renewed partnership to emphasize global expansion, player safety and youth football initiatives

DALLAS, Dec 12 (Bernama-BUSINESS WIRE) -- NIKE, Inc. (NYSE: NKE) and the National Football League (NFL) today announced a landmark 10-year partnership extension, cementing their commitment to shaping the future of football and driving growth, innovation, and progress across the sport.

Building on 12 years of successful collaboration as the exclusive provider of uniforms and sideline, practice and baselayer apparel for all 32 NFL teams, Nike is poised to elevate its partnership to new heights. With a relentless pursuit of innovation and a deep understanding of the unique needs of NFL players, Nike will deliver cutting-edge, high-performance products that adapt to the evolving demands of the game’s elite athletes. As a result, the partnership will not only shape the future of the sport but also drive a new era of excellence in football – fostering a global, inclusive, and safer environment for football players of all levels to thrive.

"This partnership renewal is a testament to the strength and success of our collaboration with the NFL. As we embark on this new chapter, we're committed to co-creating cutting-edge solutions that meet the rapidly changing needs of NFL athletes and fans, while fueling the league's growth and development initiatives,” said Elliott Hill, President & CEO of NIKE, Inc.

Key Initiatives of the Nike-NFL Partnership:

·  Global Expansion: Nike and the NFL will work together to grow the game’s global reach, increasing participation, developing new talent, and expanding the football fan base.
·  Player Health and Safety Commitment: Nike and the NFL will leverage Nike’s Sport Research Lab and product design and innovation expertise to address lower extremity injuries and enhance footwear safety.​​​​​​​​​​​​​​​​
·  Football Development: Nike will continue to empower the next generation of athletes and grow the sport by supporting grassroots, high school and collegiate level development programs across both flag and tackle football.
·  Storytelling and Fan Engagement: The partnership will bring football’s most compelling narratives to life, connecting with fans in new and innovative ways through Nike’s unparalleled marketing and storytelling expertise. 

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AM BEST AFFIRMS CREDIT RATINGS OF QIANHAI REINSURANCE CO., LTD.

HONG KONG, Dec 12 (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 Qianhai Reinsurance Co., Ltd. (QHR) (China). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect QHR’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.

QHR’s risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), remained at the strongest level at year-end 2023. Capital and surplus grew by 4.3% to RMB 3.5 billion (USD 500 million) in 2023, and further increased by 6.2% in the first three quarters of 2024, underpinned by the company’s full retention of net profit. Going forward, AM Best expects QHR to continue to receive financial support from its major shareholders and explore opportunities in capital markets to bolster its capital structure. The company has a diversified investment portfolio that is focused on cash and fixed-income securities, albeit with a moderate exposure to debt-type alternative investments.

QHR has remained profitable over the past few years, with a five-year average return-on-equity ratio of 4.3% (2019-2023). In 2023, the company posted a 77% year-on-year surge in net profit, due to the recovery of capital markets and investment valuations, which led to a growth in investment income. The company remained profitable during the first nine months of 2024.

The life reinsurance segment remains as the major driver of underwriting results. QHR continues to commit resources and strengthen its business relationships with China insurers and distribution partners to tap growth potential in traditional protection products. Additionally, the company has adopted a prudent approach toward expanding savings products in view of heightened challenges in asset-liability matching risk and scaling down its financial reinsurance business in consideration of changes in regulations and market demand. In terms of non-life reinsurance, the underwriting portfolio is diversified by product line with a focus on China’s non-catastrophe risks as it rebalanced its overseas book to improve business quality. QHR’s non-life segment’s combined ratio recorded a slight uptick in 2023, driven by an increase in the commission ratio while partially offset by a decrease in the loss ratio. Interest income from deposits, coupled with returns from bonds, equities and financial products, has continued to support QHR’s overall investment results over the past eight years.

QHR is a composite reinsurer controlled by three Chinese state-owned enterprises and plays a strategic role in the development of the Qianhai Free Trade Zone. Over the past few years, the company has continued to strengthen its market presence, while maintaining a profit-driven underwriting strategy.

Negative rating actions could occur if QHR’s risk-adjusted capitalisation declines significantly due to adverse deviation from its business and capital management plans, for example, much faster-than-expected expansion in underwriting and investment risks. Negative rating actions also could occur if the company demonstrates a sustained and adverse deterioration in its operating performance. Positive rating actions could arise if QHR’s domestic and overseas underwriting portfolios demonstrate sustained and favourable operating results that strengthen its overall operating performance, while its very strong balance sheet strength remains unchallenged.

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 © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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Contact

Stephanie Mi
Senior Financial Analyst
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stephanie.mi@ambest.com

James Chan
Director, Analytics
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Source : AM Best

--BERNAMA

Malaysia’s Lonpac Insurance Receives Excellent Ratings from AM Best

KUALA LUMPUR, Dec 12 (Bernama) -- Global credit rating agency, AM Best has affirmed the financial strength rating of A (excellent) and the long-term issuer credit rating of “a” (excellent) of Malaysia’s Lonpac Insurance Bhd (Lonpac).

In a statement, AM Best said these credit ratings (ratings) have a stable outlook, which reflected Lonpac’s balance sheet strength, was assessed as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.

Lonpac’s risk-adjusted capitalisation was at the strongest level at year-end 2023, as measured by Best’s Capital Adequacy Ratio, and is expected to remain at this level over the near to medium term. During the past five years (2019-2023), the company has demonstrated strong capital growth from retained earnings, taking into account the high dividend payout ratio over this period.

In addition, Lonpac has a generally conservative investment portfolio comprising cash, bonds and debt-focused unit trust funds. However, AM Best considers the company to have a moderate dependence on third-party reinsurance to support the underwriting of large-limit risks and manage its catastrophe exposures.

In December this year, Public Bank Berhad (PBB) acquired a 44.15 per cent stake in LPI Capital Bhd (LPI), Lonpac’s ultimate parent, from the estate of the late founder, Tan Sri Teh Hong Piow and Consolidated Teh Holdings Sdn Bhd, making PBB the largest shareholder of LPI. It is AM Best’s view that the transfer of shares will have a neutral impact on the credit rating fundamentals of Lonpac.

Lonpac’s operating performance is strong, supported by robust underwriting results, particularly in the property and bond sectors. Low net loss experience and favorable reinsurance commission income in recent periods have supported strong technical profitability.

Whilst AM Best expects the company to maintain its strong operating performance over the medium term, the elevated cost of reinsurance, as well as the ongoing phased liberalisation of motor and fire insurance pricing in Malaysia, may constrain underwriting margins over the near to medium term.

AM Best views Lonpac’s business profile as neutral, as it is a medium-size non-life insurer in Malaysia, with a market share of approximately seven per cent, based on 2023 gross written premium. The company’s underwriting portfolio is diversified moderately by line of business, albeit with the majority of business originating from Malaysia.

Lonpac benefits from a long-standing relationship with Public Bank Berhad, which provides the company with preferential access to profitable property business through the banking channel.

-- BERNAMA

AM Best Affirms Singapore Reinsurance's Ratings as Excellent

KUALA LUMPUR, Dec 10 (Bernama) -- Global credit rating agency, AM Best has affirmed the financial strength rating of A (excellent) and the long-term issuer credit rating of “a” (excellent) of Singapore Reinsurance Corporation Limited (Singapore Re).

In a statement, AM Best said these credit ratings (ratings) have a stable outlook, which reflected Singapore Re’s balance sheet strength, was assessed as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

Additionally, the ratings factor in rating enhancement from the company’s ultimate parent, Fairfax Financial Holdings Limited (Fairfax). Singapore Re’s balance sheet strength is underpinned by risk-adjusted capitalisation that is expected to remain at the strongest level over the medium term, as measured by Best’s Capital Adequacy Ratio.

The company’s investment portfolio is focused on cash, deposits and fixed-income securities, albeit with some exposure to higher-risk asset classes such as equities. Singapore Re strategically utilises retrocession to increase its underwriting capacity and manage exposure to catastrophe accumulations and large single risks.

The credit quality of the retrocession panel remains excellent, with the majority of reinsurance recoverables held with highly rated counterparties, in addition to benefitting from good financial flexibility due to the support provided by Fairfax.

Singapore Re is a modest-sized non-life reinsurer based in Singapore, writing treaty and facultative business mainly in Asia and the Middle East, with Singapore and India being the company’s two largest markets, based on 2023 gross premium written.

A partially offsetting factor is the company’s elevated cedant concentration risk; however, this risk is partly mitigated by the fact that some of its largest cedants are companies within the Fairfax group or affiliates and others that have long-standing relationships.

Despite Singapore Re’s operations accounting for a small component of Fairfax’s consolidated revenue and earnings, the company is considered strategically important to the group’s international expansion strategy and provides access to local and regional business.

-- BERNAMA

HONG KONG'S CHINA TAIPING INSURANCE RATINGS AFFIRMED EXCELLENT - AM BEST

KUALA LUMPUR, Dec 10 (Bernama) -- Global credit rating agency, AM Best has affirmed the financial strength rating of A (excellent) and the long-term issuer credit rating of “a” (excellent) of Hong Kong's China Taiping Insurance (HK) Company Limited [CTPI(HK)].

The outlook of these credit ratings (ratings) is stable, reflecting the company’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).

According to AM Best in a statement, the ratings also incorporate the rating enhancement that CTPI(HK) receives from its parent, China Taiping Insurance Holdings Company Limited (CTIH).

As measured by Best’s Capital Adequacy Ratio, CTPI(HK)’s very strong balance sheet strength is underpinned by its risk-adjusted capitalisation, while its capital and surplus improved by 2.4 per cent to HKD 5.3 billion (US$679 million) in 2023 as evaluated under the HKFRS 17 accounting standard. (US$1=RM4.42)

The company has maintained a healthy regulatory solvency ratio under the Hong Kong risk-based capital framework, with a healthy buffer over the regulatory minimum, in addition to its invested assets allocation remained largely consistent in 2023 and during the first half of this year.

AM Best assesses CTPI(HK)’s operating performance as adequate and over the past decade, the company has stayed profitable with the exception of 2020, when its performance was dragged by a sizeable impairment loss from private funds.

According to AM Best calculations, the company’s overall underwriting performance has been improving since 2019, with its IFRS 17 combined ratio remaining below 100 per cent last year. Its net investment income remains robust with a mid- single-digit investment yield not including gains or losses, owing to income-generating invested assets including bonds and investment properties.

A strategically important overseas operating subsidiary of China Taiping Insurance Group Ltd (TPG), CTPI(HK) plays a vital role in TPG’s footprint overseas and its strategy in the Greater Bay Area.

The company is integrated into the group’s capital management and ERM while also receiving a series of implicit support from TPG, including brand recognition, investment, reinsurance and operations.

-- BERNAMA

Collov AI Revolutionises Real-Estate Via Spatial Intelligence, AI-Powered Solutions

KUALA LUMPUR, Dec 6 (Bernama) -- Collov AI is transforming the intersection of artificial intelligence (AI) and real estate while bridging the gap between conceptualisation and execution to create personalised, immersive customer experiences.

The company leads in AI-powered spatial design intelligence, addressing key industry challenges and redefining how real estate professionals, developers, and e-commerce platforms engage with properties, according to a statement.

Real estate agents can showcase virtually staged homes, while developers and buyers benefit from enhanced visualisation that streamlines decision-making. Collov AI’s spatial tools boost buyer engagement and reduce property sales cycles, with virtually staged homes selling 31 per cent faster on average.

The company’s latest breakthrough, Monetico, has garnered global recognition, topping HuggingFace’s trends chart and being featured in leading AI publications like Synced.

Developed with Stanford, Berkeley AI Lab, and Yale, Monetico uses Masked Image Modelling (MIM) to generate high-fidelity images and precise spatial arrangements, enhancing creativity and efficiency in real estate workflows.

Collov AI, inspired by Feifei Li’s World Labs, merges AI with real-world applications to enable intelligent spatial reasoning. By integrating advanced MIM models and human preference-based training, the platform empowers users to design spaces with human-like intuition and accuracy.

With US$30 million in funding from investors like Matrix Partners, Mindworks, and Ameba, and over 300 global clients, Collov AI is shaping the future of the real estate industry through technical excellence and domain expertise. (US$1=RM4.41)

By merging Feifei-Li’s vision with real estate needs, Collov AI is solving today’s challenges and shaping the future of human-AI interaction with spaces.

Co-founded by two Stanford innovators, Collov AI is redefining industry norms, with its solutions enabling businesses to shift from traditional design processes to AI-driven workflows that are fast, scalable, and highly customised.

-- BERNAMA

MAVENIR TO SHARE FUTURE CORPORATE STRATEGY AT ANNUAL GLOBAL ANALYST EVENT IN DALLAS

KUALA LUMPUR, Dec 5 (Bernama) -- Mavenir, the cloud-native network infrastructure provider, will hold its annual analyst event from Dec 11 to 12 in Dallas, United States, to highlight its ongoing efforts to drive the Mobile Network digital transformation.

The company aims to reinforce its presence within the telco industry as the cloud-native, software-driven infrastructure provider focused on building open, disaggregated, and artificial intelligence (AI)-enabled networks of the future.

In a statement, Mavenir said the two-day event will preview the company’s strategic initiatives and forward-looking roadmap to an invited international audience of analysts, customers, and partners.

Its President and Chief Executive Officer, Pardeep Kohli, who will open the event by presenting the company’s go-forward strategy, emphasised that Mavenir is not just an equipment vendor but a key player in redefining the network of the future through network transformation.

“We look forward to meeting with the global telco analyst community and allowing them to hear first-hand from Mavenir’s experienced team about our technology advancements, strategic partnerships, and ongoing commitment to sustainability,” he said.

A key feature of the event will be analyst-moderated fireside chats with Mavenir’s senior leadership team that will touch upon the company’s entire solution portfolio, including Open Radio Access Network (RAN) (radio and vRAN) and Mobile Core technologies (IP Multimedia Subsystem (IMS), Packet Core, Digital Enablement, Messaging, Security).

The discussions will also cover the company’s promising momentum, including its recent recognition at the 2024 Global Telecoms Awards, where its Network Intelligence as a Service won the Advancing Artificial Intelligence Award.

Additionally, Mavenir’s customers and partners will showcase recent technological innovations and successful deployments enabled by the company's technology worldwide.

Highlights of the event include comprehensive portfolio updates; learnings and future strategy; continued investments in the IMS core portfolio; capitalising on high-growth packet core portfolio; growth and customer acquisition; sustainability; operator challenges; and innovation through partnerships.

-- BERNAMA

 

NOBEL PEACE PRIZE FORUM TO ADDRESS NUCLEAR THREATS WITH EXPERTS, HIBAKUSHA

KUALA LUMPUR, Dec 5 (Bernama) -- Following the Nobel Peace Prize ceremony for Nihon Hidankyo on Dec 10, the Nobel Peace Prize Forum will take place at the Oslo University Aula on Dec 11.

Organised by the Norwegian Nobel Institute, this year’s forum is co-sponsored by the University of Oslo, the City of Oslo, Soka Gakkai International (SGI) and the International Forum for Understanding.

Soka Gakkai President, Minoru Harada expressed that the award to Nihon Hidankyo is an inspiration to intensify efforts towards nuclear weapons abolition.

“We hope this forum will see deep dialogue that appeals to the hearts and consciousness of citizens around the world, especially youth,” he said in a statement.

Titled "Nukes: How to Counter the Threat", the public forum will feature 13 expert speakers, including two hibakusha, Japanese Red Cross Nagasaki Atomic Bomb Hospital director emeritus, Masao Tomonaga and Hiroshima Interpreters for Peace founder, Keiko Ogura, who is also a three-time Nobel Peace Prize laureate.

Other notable participants include IAEA director general, Rafael Mariano Grossi; ICAN executive director, Melissa Parke; Pugwash Conferences for Science and World Affairs secretary-general-elect, Karen Astrid Hallberg; as well as scholars, and peace activists, while 500 people will attend the Forum in person, and SGI is also cohosting the Facebook live.

Meanwhile, in the afternoon, a high-level panel titled "Avoiding Nuclear War: The Case for No First Use" will be held. This workshop, co-organised by the University of Oslo, Peacebook, and SGI, in association with the Norwegian Nobel Institute, will involve a series of speakers discussing risk reduction and confidence-building under the Chatham House Rule.

In parallel, SGI will organise a Youth Dialogue with Hibakusha at the University of Oslo, where Dr Tomonaga and Ogura will engage with local high school and university students, as well as SGI youth members, in discussions about their experiences.

Since the 1970s, Soka Gakkai has gathered testimonies from survivors and created numerous resources related to the atomic bombings.

-- BERNAMA

EXP REALTY'S INITIATIVE LINKS AGENTS WITH LOCAL SPONSORS FOR A GAME-CHANGING EXPERIENCE

KUALA LUMPUR, Dec 3 (Bernama) -- eXp Realty, the largest independent real estate company and core subsidiary of eXp World Holdings Inc, has launched its Local Sponsor Partnership Program.

This innovative initiative is designed to enhance local expertise while fostering global growth for eXp Realty agents, according to a statement.

eXp World Holdings Founder, Chairman and Chief Executive Officer, Glenn Sanford said the programme empowers its agents with the resources and mentorship needed to succeed in their local markets while growing globally.

“This programme represents the essence of eXp Realty’s commitment to agent success by providing a collaborative framework that drives innovation, growth and local expertise.

“This is more than a programme, it is a movement toward empowering agents with the tools and mentorship they need to lead locally and achieve unparalleled success globally,” he said.

The programme addresses the need for in-country support by pairing eXp agents with experienced Local Sponsors in their respective markets, while they provide hands-on guidance to ensure agents successfully implement eXp Realty's cutting-edge tools and thrive in their local real estate landscapes.

For agents with an international sponsor, the Local Sponsor Partnership Program ensures they receive personalised, in-country support to navigate their markets effectively.

The programme also opens opportunities for experienced eXp agents to become Local Sponsors, enabling them to lead locally and earn level-one revenue share earnings from their sponsee’s transactions.

With this new initiative, eXp Realty agents can now benefit from a robust support system that strengthens local leadership and fosters collaboration across global markets.

-- BERNAMA