OpenGate Capital Acquires Hufcor, Inc.

September 6, 2017, 12:21 am

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Business Wire India

OpenGate Capital, a global private equity firm, announced that it has acquired Hufcor, Inc. (“Hufcor”), the world leader in the design, manufacturing and installation of movable partitions and flexible space management solutions. Terms of the transaction were not disclosed.

Founded in 1900 with headquarters in Janesville, Wisconsin, Hufcor is the most installed brand of operable partitions worldwide. Hufcor offers its customers a global solution through dedicated manufacturing facilities in the United States, Australia, New Zealand, Germany, China and Malaysia. With its vast distribution network, the company’s products have been installed in hotels, convention centers, schools, universities and places of worship throughout the world.

Andrew Nikou, founder and CEO at OpenGate Capital, stated, “As OpenGate Capital manages a global portfolio of businesses in a broad array of industries, Hufcor represents an exciting addition as a category leader providing superb quality products and services to a variety of businesses around the world. Our team has worked diligently with the seller to complete a customized divestiture solution, and I am incredibly proud of the efforts of our M&A and Operations team.”

Leading the transaction was Matthias Gundlach, a Senior Principal in OpenGate’s Los Angeles office. Gundlach commented, “Hufcor’s strong leadership position will be bolstered through new product innovation, a continued focus on service and branding and we are thrilled to be joining forces with the management team to drive the next era of growth at Hufcor.”

Hufcor’s CEO, Kevin Flanagan, said that Hufcor and OpenGate were an exceptional fit.

“The acquisition of Hufcor by OpenGate Capital is exciting news for Hufcor’s employees, numerous global partners and customers. Management is excited to be partnering with OpenGate to accelerate its growth plan. OpenGate’s global presence and focus will assist Hufcor in reaching its full potential - operationally and commercially,” said Flanagan.

Hufcor represents the sixth acquisition through OpenGate Capital’s first institutional fund following the firm’s 2016 acquisitions of Power Partners, Energi Fenestration Solutions, Bois & Matériaux, Alfatherm and EverZinc.

About OpenGate Capital

OpenGate Capital is a global private equity firm specializing in the acquisition and operation of businesses seeking revitalization through growth and operational improvements. Established in 2005, OpenGate Capital is headquartered in Los Angeles, California and has a European office in Paris, France. OpenGate’s professionals possess the critical skills needed to acquire, transition, operate and build successful businesses. To date, OpenGate Capital, through its legacy and fund investments, has executed more than 30 acquisitions ranging from corporate divestitures to turnaround acquisitions, industry consolidations and other special-situation investments. To learn more about OpenGate, please visit www.opengatecapital.com.

About Hufcor

At Hufcor, we exist to shape the experience that people have within a built environment – we’re in the business of space management. Offering the widest range of glass, operable, vertical lift and accordion partitions, our products shape space by providing flexible sight and sound separation, and enable our customers to control the atmosphere and experience of their space. Shaping your experience isn’t just about what we do, but how we approach business. Committed to advancing what’s possible in space management, we are consultants that have more, do more, and deliver more for our customers. Every day we work with architects, contractors, and building owners across markets to help them maximize the utilization of their space to realize what’s possible. We shape our customer’s experience through the breadth and quality of our expertise, capabilities and products along with our inherent drive to solve problems. This uniquely positions Hufcor to reliably deliver exactly what’s needed. To learn more about Hufcor, please visit www.hufcor.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170905005031/en/

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NIIT University (NU) Recognized as Eco–Corporate of the Year – Eco Campus at 3rd YES BANK Natural Capital Awards 2017

September 6, 2017, 1:50 am

≫ Next: Morrow Sodali Strenghtens Its Global Activism and Contested Situations Team with the Appointment of Charles A. Koons

≪ Previous: OpenGate Capital Acquires Hufcor, Inc.

Business Wire India

Veteran Air Cmde Kamal Singh AVSM, Advisor, Campus Planning & Green Initiatives, NU receives the prestigious “Eco–Corporate of the Year – Eco Campus” award at the 3rd YES BANK Natural Capital Awards 2017 on behalf of NIIT University

NIIT University (NU) has been conferred with the prestigious “Eco–Corporate of the Year – Eco Campus” award at the 3^rd YES BANK Natural Capital Awards 2017, for its environment friendly and sustainable Green Campus at Neemrana. The glittering award ceremony organized at Shangri-La, New Delhi on 1^st September 2017, was graced by Dr. Harsh Vardhan, Hon’ble Minister for Environment, Forest & Climate Change, Govt. of India. Also, present on the occasion were representatives from partnering country Netherlands, and a Minister from Fiji, as well as senior Government officials, CXOs from leading corporates, multilateral agencies, leading environmentalists and academicians. The award was received by Veteran Air Cmde Kamal Singh AVSM, Advisor, Campus Planning & Green Initiatives, NIIT University.

Established with a vision to bring about innovation in higher education and learning in emerging areas of the knowledge society, NU is a unique initiative where a campus is established on a comprehensive long term master plan keeping environmental considerations at the centre.

YES BANK Natural Capital Awards showcase and reward individuals, groups and corporations spearheading environmental stewardship. Natural capital is one of the key focus areas at YES BANK and through platforms such as these, the Bank aims to mainstream the adoption of natural capital imperatives in financial decision making and advocate the importance of developing regulatory frameworks, disclosure mechanisms and reporting measures for natural capital accounting.

Speaking on the recognition, Prof. VS Rao, President, NIIT University, said, “Seamlessness in higher education and establishing deep connection with one’s environment have assumed greater significance to develop holistic individuals who would be able to respond to the challenges of today’s ever evolving global economy, that is driven by knowledge and research. Towards this, the founders of NU have created a sustainable campus that aims to facilitate ecological resurrection and contain ecological degradation of its surroundings. I thank YES BANK for recognizing our efforts and presenting us with this award.”

Mr. Rana Kapoor, CEO, Yes Bank said, “Mainstreaming Natural Capital Conservation and Sustainability is a vital pillar for sustainable global growth and development. YES Global Institute & YES BANK remain committed to promote multi-stakeholder engagement in this significant focus area. The Natural Capital Awards is a strategic platform to encourage and recognise efforts of individuals, environmentalists and industry towards natural capital conservation and environmental leadership. Going forward, it is imperative for India to play a prominent role in the global natural capital movement, towards ensuring a Green and Sustainable World for future generations.”

Conceptualized as an institution of excellence, NU provides exceptional education based on the Four Core Principles that make learning Industry-linked, Technology-based, Research-driven and Seamless. NU, is well poised for meeting the emerging needs of the knowledge economy through its focus on building strong industry linkages and a research oriented approach.

About NU

Established in 2009, NIIT University (NU) is a not-for-profit University covered under section 2(f) of UGC Act and notified by the Government of Rajasthan. A premier institution of higher learning and research, NU seeks to create original thinkers who will lead the knowledge society of the future. The University inherits three decades of rich expertise and global know-how of its principal sponsor, the NIIT Group.

Nurtured by some of the foremost thought leaders and corporate-practitioners of the country, the multi-disciplinary University focuses on emerging areas of technology and management. NIIT University is a part of a 100-acre campus at Neemrana, Rajasthan, 90 km's from Gurugram on NH8.

Nestled in the Aravali hills, the fully residential green campus offers an idyllic and intellectually vibrant environment for pursuing higher education and research. Set up with the vision to be the role model of learning, research, innovation and sustainability, for the knowledge society, NU is dedicated to building great careers and ensuring excellent job opportunities to all its students. It has been developed as an institute of excellence to provide exceptional education based on its Four Core Principles that make learning Industry-linked, Technology-based, Research-driven and Seamless.

NU offers the entire spectrum of academic programs. At the undergraduate level, it offers B.Tech (Computer Science & Engineering, Electronics & Communication, Biotechnology), 4-year Integrated M.Sc (Computer Science), 5-year Integrated B.Tech - M.Tech and M. Tech (Educational Technology and Geographic Information Systems). NIIT University offers a 5-year dual degree B.Tech & M.S program (In collaboration with University of Missouri, Kansas City) wherein students undertake academic work at NU for 3.5 years and then continue at UMKC for 1.5 years. In addition, NIIT University also offers MBA, Ph.D. programs, and several Industry Sponsored Programs.

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Morrow Sodali Strenghtens Its Global Activism and Contested Situations Team with the Appointment of Charles A. Koons

September 6, 2017, 4:10 am

≫ Next: WNS Named a 'Leader' in Finance & Accounting BPO Services by IDC MarketScape

≪ Previous: NIIT University (NU) Recognized as Eco–Corporate of the Year – Eco Campus at 3rd YES BANK Natural Capital Awards 2017

Business Wire India

Morrow Sodali today announced that Charles A. Koons has joined the firm as Managing Director of its Activism and Contested Situations Advisory Group. Charlie will provide strategic counsel to clients on a variety of shareholder-related issues, with particular emphasis on activist situations and proxy fights.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170905005835/en/

Charles A. Koons, Managing Director - Activism & Contested Situations at Morrow Sodali (Photo: Business Wire)

Charlie brings more than 20 years of experience as a senior counselor in shareholder activism and contested M&A, providing high-level advice to both corporate issuers as well as shareholders, most recently as Managing Director of MacKenzie Partners. Charlie’s extensive track record includes engagements across the full spectrum of transactions, including some of the most notable proxy fights of recent years.

“Charlie’s addition to the Morrow Sodali team represents a significant strengthening of our capabilities in the contested situations arena that we are dealing with in many markets across the world. We are extremely pleased to have someone with his experience, skills and judgment to advise clients and work in close coordination with legal, financial and public relations advisors in these fast-moving engagements,” said Alvise Recchi, CEO of Morrow Sodali.

Charlie will be based in New York and will be a strong asset for the global Activism and Contested Situations team, which is in charge of helping clients across markets effectively anticipate, prepare and respond to shareholder demands by providing strategic guidance in these highly charged and critical situations.

About Morrow Sodali

Morrow Sodali is the leading global consulting firm specializing in shareholder services, activism and contested situations, corporate governance, strategic stock surveillance and proxy solicitation. The firm provides corporate clients and shareholders with strategic advice and services relating to a broad range of activities, including: mergers and acquisitions, contested director campaigns, shareholder activist initiatives, shareholder meetings and multinational cross-border equity and debt transactions.

From headquarters in New York and London and seven offices in major capital markets, Morrow Sodali serves more than 700 corporate clients in 40 countries, including many of the world’s largest multinational corporations. In addition to listed and private companies, its clients include mutual funds, stock exchanges, membership associations and activist investors.

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WNS Named a 'Leader' in Finance & Accounting BPO Services by IDC MarketScape

September 6, 2017, 5:00 am

≫ Next: Bajaj Finserv Slashes Personal Loan Interest Rate to 12.49 percent this Festive Season

≪ Previous: Morrow Sodali Strenghtens Its Global Activism and Contested Situations Team with the Appointment of Charles A. Koons

Business Wire IndiaWNS (Holdings) Limited (NYSE: WNS), a leading provider of global Business Process Management (BPM) services, today announced that it has been named as a ‘Leader’ in the IDC MarketScape: Worldwide Finance and Accounting (F&A) BPO Services 2017 Vendor Assessment Report (Doc # US41237717, July 2017).

“We are pleased to be named as a Leader in the finance and accounting BPO services space. WNS has taken big strides towards market leadership in its F&A practice through focused acquisitions, targeted hiring and the creation of technology-led, industry-centric offerings,” said Keshav R. Murugesh, Group CEO, WNS. “We partner with the CFO’s office to centralize and standardize processes, digitize the finance function, embed analytics, and establish benchmarks for better governance and compliance. Our technology-enabled solutions, global operations and deep domain expertise have allowed us to help CFOs save millions in efficiency gains, improved working capital and faster financial closing.”

The IDC MarketScape report recognizes WNS’ strategy and delivery models, including the company’s commitment to tools, methodologies, and technology-enabled “as a service” offerings with embedded robotics and analytics. The IDC MarketScape also cited WNS for its vertical and geographic market expansion focus, and tuck-in acquisition strategy.

WNS is a top-tier, end-to-end global BPM service provider with over two decades of experience in the finance & accounting (F&A) domain. With a talented team of over 9,000 professionals, WNS delivers end-to-end support to the CFO’s office for over 90 global clients.

About IDC MarketScape

IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.

About WNS

WNS (Holdings) Limited (NYSE: WNS), is a leading global business process management company. WNS offers business value to 300+ global clients by combining operational excellence with deep domain expertise in key industry verticals including Travel, Insurance, Banking and Financial Services, Manufacturing, Retail and Consumer Packaged Goods, Shipping and Logistics, Healthcare and Utilities. WNS delivers an entire spectrum of business process management services such as finance and accounting, customer interaction services, technology solutions, research and analytics and industry specific back office and front office processes. As of June 30, 2017, WNS had 34,789 professionals across 52 delivery centers worldwide including China, Costa Rica, India, Philippines, Poland, Romania, South Africa, Sri Lanka, Turkey, United Kingdom and the United States. For more information, visit www.wns.com.

Safe Harbor Provision

This document includes information which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events. Factors that could cause actual results to differ materially from those expressed or implied are discussed in our most recent Form 20-F and other filings with the Securities and Exchange Commission. WNS undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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Bajaj Finserv Slashes Personal Loan Interest Rate to 12.49 percent this Festive Season

September 4, 2017, 11:32 pm

≫ Next: Corrigendum Issued by Max Life Insurance

≪ Previous: WNS Named a 'Leader' in Finance & Accounting BPO Services by IDC MarketScape

Business Wire IndiaBajaj Finserv, one of the most diversified financial companies in India, through its lending arm, Bajaj Finance Ltd is offering personal loan at 12.49% for a loan value of Rs. 12 lakhs and above in its festive season offer.

Application availing loan amount of Rs. 8 lakhs to Rs. 11.99 lakhs will be offered at an interest rate of 13.49% and a loan amount of Rs. 6 lakhs to 7.99 lakhs at 13.99%.

Bajaj Finserv will offer the special interest rates on personal loan between 5^th to 11^th September 2017. Applying for a personal loan with Bajaj Finserv is a seamless and convenient process wherein the applicant can log to company’s website to apply for a loan.

Bajaj Finserv will also offer an exciting proposition with the personal line of credit. A credit facility allotted to the applicant for a specified amount wherein the consumer pays interest amount as EMI. Consumer is free to withdraw and use any amount of money within this allotted limit and pay interest on the amount used.

Easy process and documentation

Minimal documentation: Basic documents like ID proof, address proof, income proof, bank statements, etc. needs to be submitted along with online application.

Instant approvals: Once the documents are submitted and the applicant meets all the criteria, loan is approved within 5 minutes.

Rapid disbursals: While the loan is approved immediately, the loan money is transferred in applicant’s bank account in maximum of 72 hours.

Loan ticket size: A maximum of Rs. 25 lakhs can be availed as personal through Bajaj Finserv. Also, you can choose a tenor ranging from 24 months to 60 months for the repayment of loan.

No collaterals: Personal Loan is qualified as unsecured loan and doesn’t require any collaterals.

Competitive interest rates: A personal Loan from Bajaj Finserv comes at an affordable and cheaper interest rates offering a convenience of applying it online.

Bajaj Finserv offers you an online calculator to check your eligibility online, that helps you identify the loan amount you can avail. You can check the availability and apply for loan to get benefit in this limited period.

About Bajaj Finance Ltd

Bajaj Finance Limited, the lending arm of Bajaj Finserv Ltd, is one of the most diversified NBFCs in the Indian market catering to more than 19 million customers across the country. Headquartered in Pune, the company's product offering includes Consumer Durable Loans, Lifestyle Finance, Personal Loans, Loan against Property, Small Business Loans, Home Loans, Credit Cards, Two-wheeler and Three-wheeler Loans, Construction Equipment Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle re-financing Loans. Bajaj Finance Limited prides itself for holding the highest credit rating of FAAA/Stable for any NBFC in the country today.

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Corrigendum Issued by Max Life Insurance

September 5, 2017, 5:01 am

≫ Next: AxisDirect Introduces One Stop Market News

≪ Previous: Bajaj Finserv Slashes Personal Loan Interest Rate to 12.49 percent this Festive Season

Business Wire IndiaThis is with reference to the Press Release titled ‘Max Life Insurance takes another leap in customer centricity’ issued by Max Life Insurance on August 21, 2017 regarding the reduction of unclaimed overdue amount.

There were some inadvertent errors in the data points stated in the captioned release which are corrected herein below –

There are other life insurers which have unclaimed due amount lower than Max Life. However, it was stated that the unclaimed overdue amount with Max Life as on 31^st March 2017 is possibly the lowest in Industry’.
The average industry increase in the unclaimed overdue amount over last 5 years is 34% instead of 51%.
The number of life insurers who have recorded an increase in unclaimed overdue, as per the 5 year CAGR reported by the private players, is 20 instead of 22.

About Max Life Insurance Co. Ltd. (www.maxlifeinsurance.com)

Max Life Insurance, the leading non-bank promoted private life insurer, is a joint venture between Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Max Financial Services Ltd. is part of the Max Group, which is a leading Indian multi-business corporation, while Mitsui Sumitomo Insurance is a member of MS&AD Insurance Group, which is amongst the leading insurers in the world. Max Life Insurance offers comprehensive long term savings, protection and retirement solutions through its high quality agency distribution and multi-channel distribution partners. A financially stable company with a strong track record over the last 17 years, Max Life Insurance offers superior investment expertise. Max Life Insurance has the vision 'To be the most admired life insurance company by securing the financial future of our customers'. The company has a strong customer-centric approach focused on advice-based sales and quality service delivered through its superior human capital.

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AxisDirect Introduces One Stop Market News

September 6, 2017, 6:18 am

≫ Next: Andersen Global Appoints Leonardo Mesquita Regional Managing Director for Latin America

≪ Previous: Corrigendum Issued by Max Life Insurance

Business Wire IndiaAxisDirect (www.axisdirect.in), the leading stock broking house, introduces one stop news section for investors on its website. Markets are dynamic in nature and it reacts sharply to news and information. Staying on top of latest happenings can help investors make the right investment decisions. However, getting right information at the right time remains a challenge due to plethora of information available across various news agencies and on various channels like TV, web, social media, RSS feeds etc.

In the age of information overload, it can be rather a time consuming activity for retail investors to lookout for news relevant for their investments through various sources like news websites, business news channels, social media etc. AxisDirect has simplified information discovery for investors through its one stop latest news section that brings latest news from best agencies across various mediums, all at one place.

The ‘Equity - Latest News’ section (click here) has the following 4 categories –

News: Gets news from Capital Markets classified into 5 categories – Market News, Corporate News, Economy News, Global News and Other News
Tweets: Catch news as it happens with live tweets from best news handles like CNBC TV18, CNBC Awaaz, Economic Times, MoneyControl, Zee Business, BTVi etc.
Live TV: Brings you live TV powered by BTVi and provides access to various YouTube channels
RSS Feeds: Fetches live feeds from leading sources like Reuters, BTVi, MoneyControl, CNBC TV18, CNBC Awaaz, Zee Business etc.

Similarly, the Mutual Fund section also has a latest news section (click here) which covers 3 sections

News: Helps you stay updated on fund news, NFOs, dividend announcements, change in fund manager, merger of schemes etc.
Videos: Watch insightful videos posted by leading AMCs on investor education, Market Outlook by various CIOs and fund managers etc.
Expert Speak: Gain insights from excerpts of leading Fund Manager Interviews with in-depth analysis and market views

AxisDirect has forged tie ups with leading news agencies to make it convenient for its users to get the latest news from top sources right from a single window. This saves a lot of time and effort for the retail customers to search various websites or watch news channels to get live market information and to stay updated on current and expected market trends.

Commenting on the development Mr. Amit Golia, Chief Business Officer, Axis Securities said, “We are very happy to introduce ‘Latest News’ section on our portal. This feature will not only provide investors with the relevant news but also provide unbiased views to help them undertake an independent analysis for creating a better financial portfolio. AxisDirect has always endeavoured to simplify the customer experience through innovation and this feature is a positive step in that direction.”

Similarly, to validate opinions on stocks, AxisDirect provides free access to its customers to view independent third party research from international sources like Reuters Consensus estimates for long term stock view and TheScreener for short term view. Unbiased view on stocks helps investors to take a more informed call on various investment and trading ideas.

About AxisDirect (www.axisdirect.in)

AxisDirect is the retail broking vertical of well known BFSI player Axis Securities Limited (ASL). ASL is a proud subsidiary of Axis Bank – India’s 3rd largest private sector bank. ASL is currently present in 80+ branches across India. ASL offers retail broking services through AxisDirect and also functions as a distributor to Bank’s financial products. AxisDirect engages in offering simplified investment solutions through a bouquet of investment products to its customers e.g. Equities, Mutual Funds, SIPs, IPOs, Derivatives, Bonds, NCDs, ETFs and Company Fixed Deposits. With over 15 lakh customers, AxisDirect is one of the fastest growing players in the industry and is among the top 5 players in terms of customer base.

Twitter: twitter.com/AxisDirect_In
Facebook: facebook.com/axisdirect/
LinkedIn: linkedin.com/company/8726610/

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Andersen Global Appoints Leonardo Mesquita Regional Managing Director for Latin America

September 6, 2017, 7:49 am

≫ Next: PartnerRe Appoints Jerome Matrundola as CEO Life & Health, Asia Pacific

≪ Previous: AxisDirect Introduces One Stop Market News

Business Wire India

Andersen Global announces Leonardo Mesquita as its Regional Managing Director for Latin America. Leonardo is currently the Managing Partner for Andersen Tax in Brazil. With this additional role, he will also be focusing on specific strategies to support the region as it expands. Leonardo has more than 30 years of experience in tax consulting and advisory services.

“Leonardo has a unique ability to work with others in a collaborative manner, but also demonstrates and can communicate his views forcefully,” said Global Chairman and Andersen Tax LLC CEO, Mark Vorsatz. “I am confident he will bring great value as he takes responsibility for our practice in Latin America. Not only is Brazil a critical market for us, but we also plan to complete the expansion of our platform in the region within the next two years.”

Leonardo has deep experience in tax planning, tax compliance, assistance to family businesses, leadership and training. His areas of expertise include due diligence, financial reporting, and corporate tax and finance.

Leonardo spent most of his professional career with PwC before launching the firm that is now Andersen Tax in Brazil with co-Managing Partner, Bernardo Oliveira. At PwC, Leonardo led the tax practice for the Campinas, Sorocaba and Ribeirão Preto offices. In less than two years, the Andersen Tax team in Brazil has increased their client base and grown their revenue by over 500%.

Andersen Global is an international association of member firms comprised of tax and legal professionals around the world. Established in 2014 by U.S. member firm Andersen Tax LLC, Andersen Global now has more than 2,000 professionals worldwide and a presence in 70 locations through its member firms and collaborating firms.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170905005069/en/

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PartnerRe Appoints Jerome Matrundola as CEO Life & Health, Asia Pacific

September 6, 2017, 8:00 am

≫ Next: Smart Technology Boosts Energy-efficient Solutions for India's Screw Compressors Market

≪ Previous: Andersen Global Appoints Leonardo Mesquita Regional Managing Director for Latin America

Business Wire India

PartnerRe Ltd. announced that Jerome Matrundola has been appointed to the new position of CEO Life & Health, Asia Pacific, to lead PartnerRe’s Life and Health business operations in that region effective September 11, 2017.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170905006460/en/

Jerome Matrundola (Photo: Business Wire)

Mr. Matrundola will be responsible for growing and enhancing PartnerRe’s presence in the life and health reinsurance market in Asia Pacific. He will work with PartnerRe’s existing teams in Singapore and Zurich, leveraging PartnerRe’s leading Life and Health expertise and solutions to develop innovative and holistic reinsurance solutions specifically geared to the needs of the Asia Pacific markets.

His appointment further underlines PartnerRe’s commitment to its clients in that region by supporting their growth strategies as they respond to the increasing demand for life and health insurance solutions.

Mr. Matrundola will be based in PartnerRe’s Hong Kong office reporting to Marc Archambault, CEO Life & Health and Group Executive Committee member.

Commenting on Mr. Matrundola’s appointment, Mr. Archambault said, “I am delighted to welcome a reinsurance professional of Jerome’s caliber to lead our team. We believe in the strong growth potential of the insurance market in Asia Pacific now and in the future. PartnerRe’s unique position as a global, privately owned, pure-play reinsurer, combined with our local presence and market knowledge means we are well positioned to support the advancement of insurance in the region. This new position further enhances our ability to respond to the needs of our clients in Asia Pacific.”

Mr. Matrundola comes to PartnerRe from SCOR, where he was Head of North Asia and Regional Partnerships based in Hong Kong and a member of the Asia Pacific Senior Management Team. He has worked in reinsurance for fourteen years in various roles including strategy development, and both business and market development through innovation across many markets spanning Europe and Asia Pacific. He is a Fellow of the Society of Actuaries and a Fellow of the Canadian Institute of Actuaries.

_____________________________________________

PartnerRe Ltd. is a leading global reinsurer that helps insurance companies reduce their earnings volatility, strengthen their capital and grow their businesses through reinsurance solutions. Risks are underwritten on a worldwide basis through the Company’s three segments: P&C, Specialty, and Life and Health. For the year ended December 31, 2016, total revenues were $5.4 billion. At June 30, 2017, total assets were $22.8 billion, total capital was $8.3 billion and total shareholders’ equity was $6.9 billion. PartnerRe enjoys strong financial strength ratings as follows: A.M. Best A / Moody’s A1 / Standard & Poor’s A+.

PartnerRe on the Internet:www.partnerre.com

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Smart Technology Boosts Energy-efficient Solutions for India's Screw Compressors Market

September 6, 2017, 11:45 pm

≫ Next: FinTech Startup EarlySalary Raises Debt from IFMR Capital

≪ Previous: PartnerRe Appoints Jerome Matrundola as CEO Life & Health, Asia Pacific

Business Wire IndiaMake in India, National Manufacturing Policy (NMP), and Goods & Services Tax (GST) implementation are expected to aid the growth of core sectors, thereby contributing to a new demand for screw compressors. Nevertheless, smart technology envisioned to be the future of manufacturing with intelligent, efficient, self-diagnosing, and wireless technology set to gain prominence. Renewed supplier/third party focus on augmenting services infrastructure coupled with changing end-user approach to equipment purchase are augmenting the opportunity landscape for screw compressor service providers.

Frost & Sullivan’s “India Screw Compressors Market Outlook, 2017” reveals that the screw compressor market generated revenue of INR 14,300 million in 2015 and is expected to register a CAGR of 6.3% through 2020. The research evaluates macroeconomic and socio-political developments and analyses existing and upcoming government policies and their impact on the sector's growth. Key end-user industry drivers, business challenges, market size, competitive scenarios, and a short-term investment outlook are also provided.

To access more information on this analysis, please click here.

“Oligopolistic nature of the market translates to high concentration of revenues among the top 4; global majors like Kobelco, BOGE, Aerzen, Sullair, Hitachi are struggling to increase their market share in the Indian market. Prudent account management and ability to create their own niche will define the success of the companies intending to enter the Indian market”, said Virein Kumar Yadlapalli, Principal Consultant, Frost & Sullivan.

In a highly consolidated ecosystem, compressor manufacturers should:

realign their marketing efforts to highlight the total cost of ownership, with an emphasis on energy efficiency and service value proposition;
assign more weightage to “Service” as a dedicated source for revenues, focusing on world-class infrastructure and service force competency; and
create their own niche through prudent key account management for the food & beverage, pharmaceutical and electronics sectors.

“The introduction of energy conservation standards for compressors by the Bureau of Energy Efficiency coupled with end-users preference for greater weightage on total lifecycle cost are factors propelling the installation of screw compressors” noted Yadlapalli.

India screw compressors market end-user segments include: Oil and Gas, Petrochemicals, Chemicals and Fertilizers, Power Generation, Food and Beverages, Pharmaceuticals, Metals and Mining, and General Industrial Manufacturing such as electronics, general machinery, and fabrication among others. Heating, Ventilation, and Air Conditioning, and others segments like Automotive, Textiles, Water and Waste Water, Plastics, Pulp and Paper, and Sugar have been analyzed as well.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Website: http://ww2.frost.com

Twitter: @Frost_Sullivan
Facebook: http://www.facebook.com/frostandsullivan
LinkedIn: https://www.linkedin.com/company-beta/4506/

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FinTech Startup EarlySalary Raises Debt from IFMR Capital

September 7, 2017, 12:45 am

≫ Next: Sweans Technologies will Become the First Digital Marketing Agency in India to Accept Bitcoin as Payment for its Services

≪ Previous: Smart Technology Boosts Energy-efficient Solutions for India's Screw Compressors Market

Business Wire India

Left to right: Ashish Goyal (CFO), Akshay Mehrotra (CEO)

Raises Rs. 5Cr Debt from IFMR Capital
Successfully disbursed 7,000+ loans last month, targeting to reach 30,000+ loans per month by end of this financial year
India’s 1st Startup to offer Salary Advances & Instant Cash Loans on Mobile App

EarlySalary, India’s first FinTech startup to offer Salary Advances and Instant Cash Loans has announced its first debt financing of Rs. 5Cr from IFMR Capital. This working capital infusion will provide an impetus for further accelerating the company’s exciting growth plans. EarlySalary has already disbursed 7,000+ loans last month and plans to reach a target of around 30,000+ loan disbursements per month by end of this financial year.

The company recently received its Series A round of $4 million (Rs. 28Cr) equity funding in May of this year from IDG Ventures India & DHFL, and plans to leverage its equity multiple times over the next few months. EarlySalary currently has operations in 8 cities including Mumbai, Pune, Chennai, Bangalore, Hyderabad, New Delhi, Jaipur and Ahmedabad, and is looking at expanding into other cities as well.

Akshay Mehrotra, Co-Founder & CEO at EarlySalary commented, “Powered by digital score carding and robust social media underwriting systems, we have successfully disbursed 7000+ loans last month. EarlySalary is on a high growth trajectory, given the excellent response we have received, especially from young working millennials. Since lending is our main business, money is working capital for us. Getting access to debt for an early stage lending start-up is the key to success. And IFMR becoming our 1st debt provider we feel more confident and hope to leverage multiple times on our current equity base and build a strong and large lending book.”

Adding to this, Co-founder & CFO Ashish Goyal said, “We are confident of making our loan book stronger by disbursing 30,000+ loans per month by the end of this financial year. Looking at the current traction we are targeting to cross 1 Million downloads over the next month.”

Dr. Kshama Fernandes, Chief Executive Officer, at IFMR Capital said, “IFMR Capital is excited to partner EarlySalary in its ambitious journey of transforming the financial landscape for salaried professionals. Our strategy has always been to identify high potential companies at an early stage and support them by providing capital, customised structured product solutions and access to a wide spectrum of investors. This association with EarlySalary fits right into that philosophy. We believe they are pioneers in using technology to disrupt the current retail credit ecosystem, successfully impacting a large number of professionals who are not served by banks.”

About EarlySalary.com

EarlySalary is a short term small amount Loan given to Salaried Individuals on a mobile app. These loans are similar to salary/cash advances or credit card cash withdrawal. EarlySalary is a mobile app which allows you to apply and get a loan approval within minutes and instantly get money transferred to your account. Coupled with social profiling which gives better risk assessment, helps go beyond financial underwriting and IndiaStack; EarlySalary aims to do more prudent risk assessment and lend better and is today fast becoming the fastest lender in the country.

Key Features:

Instant Salary Advance upto 50% of monthly Salary in under 10 minutes
Super Fast: 70% loans are given in under 10 minutes
Instant CASH: Salary advance/cash loans transferred to bank anytime instantly
Short duration: Cash loans from 7 days up to 30days
Instant Transactions: From Rs. 8,000 to Rs. 2Lac Cash transferred to Bank
Shop on Amazon and Pay Later after 30days with no extra charge.
*Existing customer on repeat loans get 3 EMIs options and upto Rs. 2Lac limit

Key Founding Members Include:

Akshay Mehrotra, CEO, previously served as the Chief Marketing Officer at Big Bazaar, Future Retail Limited, CMO at PolicyBazaar.com & Marketing Head at Bajaj Allianz Life Insurance

Ashish Goyal, CFO, is a chartered accountant by education and previously served as the Chief Investment Officer at Bajaj Allianz General Insurance.

Vimal Saboo, CBO, previously served as the Business Head of Edelweiss Capital and also served in senior roles at Axis Bank.

Vivek Jain, CTO, who previously served as the Principal Technology Architect at Infosys.

For more information please visit www.earlysalary.com

Social Media Handles -

Like us on Facebook: fb.com/EarlySalary
Follow us on Twitter: twitter.com/early_salary

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Sweans Technologies will Become the First Digital Marketing Agency in India to Accept Bitcoin as Payment for its Services

September 7, 2017, 4:30 am

≫ Next: HCL Announces Strategic Partnership with Banking Solutions Provider Alpha Insight

≪ Previous: FinTech Startup EarlySalary Raises Debt from IFMR Capital

Business Wire IndiaSweans Technologies will start accepting Bitcoin as payment for the services offered from 15th September 2017 and will become India’s first digital agency of the kind, Sweans said in a statement in London today. Both UK and India offices will start accepting Bitcoin. The digital agency also aims to increase tie-ups with local companies and individuals to help spread usage of the currency, it said.

“We want to encourage bitcoin users from overseas to pay for our services easily. We can also help other companies accept bitcoin for payment,” Ajay Thomas, Chief Executive Officer of Sweans announced in London today. “This is a real first step in payment partnerships for India and UK firms and we are aiming for more company and service tie-ups," added Madhavan Ramakrishnan, Director - Strategy.

Bitcoin is surging in popularity as more and more governments have started to accept it. Bitcoin exchanges are already operational in US, UK, EU, Dubai, South Korea, Japan and China. Some governments like Iceland have started creating dedicated infrastructure for large scale bitcoin mining operations. Sweans is setting up a bitcoin mining data center in Iceland to allow regular people to start bitcoin mining on a small scale, apart from hosting its own mining hardware. The MoU has been signed and construction has started last month. The data center will be fully operational from 25^th of September.

Bitcoin surged to a record $ 4800 (Rs. 3 Lakhs). It has more than tripled its value since the beginning of the year. The interest from Asia is immense and the trend is markedly upwards. Skeptics have said that the price of a bitcoin is higher than it should be at this time, as bitcoin has repeatedly broken records without showing signs of slowing. Acceptance was the key and Bitcoin has crossed that chasm successfully. For more details and enquiries, please contact us on +44 2089732387 or ajay@sweans.com.

Sweans Technologies is one of the leading digital agencies focused on website development and social media optimization, having branches in USA, UK and India.

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HCL Announces Strategic Partnership with Banking Solutions Provider Alpha Insight

September 7, 2017, 5:10 am

≫ Next: B2B E-commerce: Empower Intermediaries, not Eliminate

≪ Previous: Sweans Technologies will Become the First Digital Marketing Agency in India to Accept Bitcoin as Payment for its Services

Business Wire IndiaHCL Technologies (HCL), a leading global IT services company, today announced a new strategic partnership with Alpha Insight, an intelligent products and solutions company headquartered in London, UK, with industry leading expertise in Business Flow Monitoring and Operational Intelligence.

The transaction, which includes purchase of select assets, bolsters HCL’s DRYiCE™ Platform and its positioning as an Enterprise A.I Foundation. Integration of Alpha Insight’s iControl product into the DRYiCE^TM suite of products, provides deep visibility into end–to–end horizontal business flows and robust operational intelligence to Digital Enterprises.

Kalyan Kumar – Chief Technology Officer – IT Services, HCL Technologies said: “HCL’s vision is to provide best–in–class A.I solutions for enterprises looking to reimagine themselves on the foundation of A.I technology. We welcome Alpha Insight and iControl into the fast growing DRYiCE Product family and are excited about the new process transformation solutions that this partnership enables.”

Shakir Ladak – Chief Technology Officer and Founder, Alpha Insight said: “We are tremendously excited by this agreement which allows us to benefit from HCL's expertise and client coverage, whilst fulfilling our vision to further expand iControl as a strategic operational intelligence platform.”

Alpha Insight, founded in 2013, specializes in Business Flow Monitoring and Operational Intelligence with the primary focus on the financial services sector. The company’s existing industry expertise in financial services processes will now be expanded to other major industries such as retail, manufacturing, utilities and lifesciences, among others.

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B2B E-commerce: Empower Intermediaries, not Eliminate

September 4, 2017, 9:30 pm

≫ Next: EMQ and GCash Partner to Boost Remittance Services across The Philippines

≪ Previous: HCL Announces Strategic Partnership with Banking Solutions Provider Alpha Insight

Business Wire IndiaDisintermediation or eliminate the middle men has been the mantra of the startups like Power2SME, OfBusiness, WYDR, Bizongo which have mushroomed in the past couple of years. The Business model of these startups is tailored to suit the buyers who can either pay upfront or can avail loan from Banking institutions for Procurement. Startups, Venture Capitalists and NBFCs have looked at the solution from predominantly disintermediation dimension. This approach can cater to about 25% of the market and they are already facing headwinds in terms of credit, recovery, technology adaption etc.

Indian B2B commerce which is currently a USD 400 Billion market is all set to undergo a transformation. Indian B2B market is unique compared to other global markets due to our legal system, credit related practices and unorganized logistics. B2B is very different compared to B2C. It is characterized by bulk and repetitive buying, lesser SKUs, many people in the trade, significant role of credit, lack of transparency etc. 65% of Indian B2B Market is credit driven but banks and NBFCs can cater only to about 20% of the credit financing. About 60% of credit requirements are met by intermediaries like dealers and distributors who play a vital role in the trade. A city like Bangalore alone has about 6000 dealers and distributors across verticals. Despite all the challenges, it is set to grow to USD 700 Billon by 2020. All the major Venture Capitalists have just begun to invest in this play and it has received approximately USD 120 million cumulatively in the last 2 years.

A new wave is emerging. Empower the intermediaries to play a vital role in credit and managing last mile relationships which are crucial for B2B commerce. Intermediary lead model is a new dimension which has the capability to address 65% of the B2B market and thus is a bigger opportunity to go after.

Avysh and Udaan which are both Bangalore based have business models and technology to empower the intermediaries in B2B trade. Udaan is dealing with wholesale consumer products like mobile accessories, clothes, fashion accessories etc. and Avysh is dealing with commodities like Steel, Cement, Polymers, Chemicals etc. Chatbots, conversational commerce are the suitable technology components that are being adapted in this space. This dimension is set to receive big impetus from the onset of block chain. In the era of Block Chain these intermediaries can efficiently perform like financial institutions.

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EMQ and GCash Partner to Boost Remittance Services across The Philippines

September 4, 2017, 10:20 pm

≫ Next: Square Capital Becomes the Largest Organized Distributor of Secured Mortgages in India

≪ Previous: B2B E-commerce: Empower Intermediaries, not Eliminate

Business Wire India

EMQ and Globe Telecom's mobile commerce subsidiary G-Xchange Inc.,announced a partnership that would further expand EMQ’s reach in the Philippines through GCash, offering overseas workers greater flexibility and convenience.

“Remittances provide a lifeline for millions of households and drive financial inclusion in the developing countries such as the Philippines, currently the third largest recipient of remittances according to the World Bank,” said Max Liu, Co-founder and CEO of EMQ. “Our expansion with GCash complements our existing capabilities in the Philippines, while offering the best possible choices and flexibility for the overseas workers to send money home effortlessly within minutes.”

With the partnership, EMQ users can now send money to users with GCash accounts, where the recipients can pay bills and make online purchases, buy load or cash out at over 7,000 GCash payment outlets across the Philippines.

“We always strive to create the highest customer value with our innovative solutions and EMQ shares our passion,” said Albert Tinio, CEO of G-Xchange, Inc. “Our strategic partnership with EMQ would further boost mobile wallets usage and accelerate local economic growth. But most importantly, we want to ensure that Filipinos who rely on remittances from their loved ones overseas will receive their money fast and securely without any hassle.”

EMQ currently has footprint in Hong Kong, Taiwan, Indonesia, Vietnam and the Philippines, with plans underway to expand across other key business markets first in Asia and then globally, covering North America, Europe and the Middle East. GCash international partners has over 1,000,000 outlets worldwide with over 7,000+ GCash Partner Outlets across the Philippines.

About EMQ

Headquartered in Hong Kong, EMQ is a financial technology startup that is building a financial network across Asia with a focus on remittance. With a footprint across Hong Kong, Taiwan, Indonesia, Vietnam and the Philippines, the company partners with financial institutions and other strategic partners in each country to enable and settle cross-border remittance via banks and various modes for top-up and cash pickup. The company received its Money Service Operator license from the Hong Kong Customs and Excise Department in September 2014 and its Fund Transfer Operator license from Bank Indonesia in March 2017. For more information, www.emq.com

About GCash

GCash is an internationally-acclaimed micropayment service that transforms the mobile phone into a virtual wallet for secure, fast, and convenient money transfer. GCash can be used to buy prepaid load, pay bills, send money, make donations, shop online, and even purchase goods without the need to bring any cash. For more information, please visit https://www.globe.com.ph/gcash.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170904005402/en/

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Square Capital Becomes the Largest Organized Distributor of Secured Mortgages in India

September 5, 2017, 12:45 am

≫ Next: OpenGate Capital Acquires Hufcor, Inc.

≪ Previous: EMQ and GCash Partner to Boost Remittance Services across The Philippines

Business Wire India

Amit Prakash Singh, Principal Partner, Square Capital

Square Capital, the digital lending arm of India’s largest real estate transaction platform Square Yards has underlined its market dominance by becoming the largest organized distributor of secured mortgages in the country. It is currently facilitating USD 30- 40Mn (INR 200cr – INR 260cr) of loan disbursals every month, contributed majorly by secured mortgages spread across 50+ banking partners for their different products in home loan, home against property and business loan. Its impressive growth is attributed to the rise in availability of affordable housing in India as well as the increasing consumer propensity to rely on fintech platforms for a full spectrum of financial needs.

Speaking on the recent numbers, Amit Prakash Singh, Principal Partner, Square Capital said Real estate and fintech aggregation are a synergistic match to a vast degree and Square Capital, was able to build on the established best practices of Square Yards to become one of the largest mortgage distributors in India today. We are betting big on affordable housing to drive future growth, particularly with the Pradhan Mantri Awas Yojana offering interest subsidies and of course, the huge number of untapped first-time home buyers that can be catered to in the home loan segment up to Rs. 30 lakh.

Government schemes such as the Pradhan Mantri Awas Yojna which offers interest subsidy between 3-6.5% for loans between Rs.6-12 lakh for EWS and LIG categories and subsidy of 4% and 3% for loans of Rs.9 lakh (for those with income up to Rs.12 lakh annually) and Rs.12 lakh (for those with income up to Rs.18 lakh annually) respectively, are driving consumers to opt for home loans that they can repay easily and fulfill their dream of real estate ownership. In fact, several studies have shown that loans have gone up by more than 20% over the last few years for affordable housing purchases. Square Capital is optimizing this opportunity to the hilt by enabling easier access to credit for potential home owners.

In the absence of any national-level mortgage distributor that has managed to scale up over the last decade, Square Capital has not only been able to generate massive digital leads but is also enabling fulfilment, either digitally or through its hybrid online to offline (O2O) approach.

About Square Capital

Square Capital is a marketplace lending platform that aggregates offers from financial institutions on a single platform and provides end to end fulfilment support in the lending process that includes assessing the credit worthiness/risk of clients, helping them choose the right product from the appropriate lending organization, managing their documentation, advising on professional issues pertaining to taxation & insurance and assisting the client till the entire lifecycle of loan disbursement.

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