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    Business Wire India

    Moody’s Analytics, a global provider of financial intelligence, has won five solution category awards in the 2019 Chartis RiskTech100®: CECL, IFRS 9, Balance Sheet Risk Management, Credit Risk for the Banking Book, and Model Validation.

     

    We also earned the #4 overall ranking – our highest-ever position and third straight top-five finish – and took the award in the Chartis Strategy category. Click here for more on our ranking and Chartis category win.

     

    “We’re honored by the recognition we received in this year’s RiskTech100®,” said Jacob Grotta, Managing Director-Head of Risk & Finance Analytics. “Winning five categories demonstrates that our solutions are empowering financial professionals across the lending, risk, and finance functions to make better, faster decisions.”

     

    We have now won the Credit Risk category for three straight years, reflecting both our deep credit experience and our continued investment and innovation in our wholesale and consumer credit assessment and origination solutions. This win follows our earning a Category Leader position in a Chartis Research report that analyzed vendors of credit risk solutions for the banking book last May.

     

    Our win in the Balance Sheet Risk Management category similarly follows our Category Leader position in a March Chartis Research report assessing leading vendors of balance sheet management systems for banks. Our integrated solution – implemented on-premise or in the cloud – lets banks manage their ALM and liquidity risk while meeting regulatory and other business needs.

     

    Our two wins in the Current Expected Credit Loss (CECL) and IFRS 9 categories reflect how we combine credit risk expertise with accounting best practices to automate and simplify processes under the new global allowance standards. Our flexible and transparent solutions integrate our award-winning credit risk analytics, economic forecasts, and balance sheet forecasting capabilities to allow firms to meet the new standard and prepare for the future, by leveraging these processes to drive business value.

     

    In May, we were rated as a Category Leader in a Chartis Research report that assessed leading vendors of CECL solutions. We also earned the distinction of Category Leader in a 2017 Chartis Research report comparing leading vendors of IFRS 9 solutions.

     

    Model validation is a new category in this year’s RiskTech100® awards, reflecting the growing need for the effective and transparent management of risk models used in the daily business of financial institutions. Our solution combines our deep credit risk expertise, focus on sound model risk management, and industry-leading technology to provide a collaborative process for model validation and monitoring. Firms can use our solution to reduce the time and effort in these essential processes by combining our internal best practices with their unique requirements in an auditable, repeatable, and transparent manner that fuels collaboration and shared knowledge across the organization.

     

    Click here to learn how Moody’s Analytics solutions can help your organization.

     

    Click here to view the 2019 Chartis RiskTech100® rankings.

     

    About Moody’s Analytics

     

    Moody’s Analytics provides financial intelligence and analytical tools to help business leaders make better, faster decisions. Our deep risk expertise, expansive information resources, and innovative application of technology help our clients confidently navigate an evolving marketplace. We are known for our industry-leading and award-winning solutions, made up of research, data, software, and professional services, assembled to deliver a seamless customer experience. We create confidence in thousands of organizations worldwide, with our commitment to excellence, open mindset approach, and focus on meeting customer needs. For more information about Moody’s Analytics, visit www.moodysanalytics.com.

     

    Moody's Analytics is a subsidiary of Moody's Corporation (NYSE: MCO). MCO reported revenue of $4.2 billion in 2017, employs approximately 12,600 people worldwide and maintains a presence in 42 countries.

     

    About Chartis Research

     

    Chartis Research is the leading provider of research and analysis on the global market for risk technology. It is part of Infopro Digital, which owns market-leading brands such as Risk and WatersTechnology. Chartis’ goal is to support enterprises as they drive business performance through improved risk management, corporate governance and compliance, and to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology.

     

    RiskTech100®, RiskTech Quadrant®, FinTech Quadrant™ and The Risk Enabled Enterprise® are Registered Trade Marks of Infopro Digital Services Limited. www.chartis-research.com

     

     

     

     

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    Business Wire India

    Moody’s Analytics, a global provider of financial intelligence, has been ranked #4 in the 2019 Chartis RiskTech100®, our best-ever finish. We also won awards in the Strategy category and in five solution categories: CECL, IFRS 9, Balance Sheet Risk Management, Credit Risk for the Banking Book, and Model Validation.

     

    This year, Moody’s Analytics earned a category award in one of the overall Chartis categories, Strategy, which considered our ability to execute, our vision and leadership, and our financial performance. Click here for more on our solution category wins.

     

    Now in its 13th year, the RiskTech100® evaluates technology companies that provide risk and compliance solutions to financial institutions. Moody’s Analytics has finished in the top five of these rankings for three straight years.

     

    “Moody’s Analytics continues to help its clients across the globe to satisfy their risk technology needs,” said Rob Stubbs, Head of Research at Chartis Research. “The breadth of its offerings is reflected in another top-five finish and five solution category wins.”

     

    “We’re gratified that Chartis has recognized Moody’s Analytics as a top provider of risk technology solutions,” said Steve Tulenko, Executive Director-Enterprise Risk Solutions. “Our strategy is to simplify, digitize, and automate cumbersome manual processes, helping our clients to operate more efficiently and make better, faster business decisions.”

     

    Click here to learn how Moody’s Analytics solutions can help your organization.

     

    Click here to view the 2019 Chartis RiskTech100® rankings.

     

    About Moody’s Analytics

     

    Moody’s Analytics provides financial intelligence and analytical tools to help business leaders make better, faster decisions. Our deep risk expertise, expansive information resources, and innovative application of technology help our clients confidently navigate an evolving marketplace. We are known for our industry-leading and award-winning solutions, made up of research, data, software, and professional services, assembled to deliver a seamless customer experience. We create confidence in thousands of organizations worldwide, with our commitment to excellence, open mindset approach, and focus on meeting customer needs. For more information about Moody’s Analytics, visit www.moodysanalytics.com.

     

    Moody's Analytics is a subsidiary of Moody's Corporation (NYSE: MCO). MCO reported revenue of $4.2 billion in 2017, employs approximately 12,600 people worldwide and maintains a presence in 42 countries.

     

    About Chartis Research

     

    Chartis Research is the leading provider of research and analysis on the global market for risk technology. It is part of Infopro Digital, which owns market-leading brands such as Risk and WatersTechnology. Chartis’ goal is to support enterprises as they drive business performance through improved risk management, corporate governance and compliance, and to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology.

     

    RiskTech100®, RiskTech Quadrant®, FinTech Quadrant™ and The Risk Enabled Enterprise® are Registered Trade Marks of Infopro Digital Services Limited.

     

    www.chartis-research.com

     

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    Business Wire India

    The Valence Group acted as financial advisor to Golden Gate Capital on its announced acquisition of Active Minerals International from Merit Capital Partners. Financial terms of the transaction were not disclosed.

     

    About Active Minerals International

     

    Active Minerals International LLC (AMI) is a worldwide leader in the production and marketing of kaolin and gel quality attapulgite clay minerals. Its products are sold throughout the world for industrial, agricultural and construction related applications. AMI is the world’s largest supplier of gel quality attapulgite (clay) and is the largest supplier of air-float kaolin to the glass manufacturing process.

     

    About Golden Gate Capital

     

    Golden Gate Capital is a San Francisco-based private equity investment firm with over $15 billion of capital under management. The principals of Golden Gate Capital have a long and successful history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments. Notable industrial investments sponsored by Golden Gate Capital include US Silica, EP Minerals, ANGUS, ArrMaz, Cole-Parmer and Vantage Elevator Solutions.

     

    About The Valence Group

     

    The Valence Group is a specialist investment bank offering M&A advisory services exclusively to companies and investors in the chemicals, materials and related sectors. The Valence Group team includes a unique combination of professionals with backgrounds in investment banking and strategy consulting within the chemicals and materials industries, all focused exclusively on providing M&A advisory services to the chemicals and materials sector. The firm’s offices are located in New York and London.

     

     

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    Business Wire India

    International Securities Associations and Foundations Management Company (“ISAF”) announces the formation of an international coalition of leading American, German and Dutch law firms and the appointment of the preeminent Danish law firm, Németh Sigetty, to proceed with a lawsuit against Danske Bank A/S (“Danske” or the “Bank”) to pursue compensation for damaged investors after revelations of money laundering, financial mismanagement and deficient regulatory disclosures.

     

    The lawsuit will be filed in Copenhagen, Denmark on behalf of investors who suffered investment losses in Danske’s share price after various disclosures related to an estimated EUR €200 billion money transfer scheme involving non-resident Eastern European and Russian customers in the Bank’s Estonian Branch. Information about critical lapses in Danske’s ‘know your customer’ and anti-money laundering internal enforcement policies, and its failure to act upon both internal and external warnings of non-compliance, caused a more than a 40% decline in Danske’s stock price resulting in losses for investors measured in tens of billions of Danish kroner (billions of US dollars).

     

    Some of the world’s leading law firms, including the US-based law firm Pomerantz LLP, that recently secured a USD $3 billion investor settlement from Petrobras in the US; the US-based law firm Lieff Cabraser Heimann & Bernstein, LLP that has litigated and resolved some of the most important complex civil and securities litigations in recent history, including the recent USD $15 billion civil settlement with Volkswagen on behalf of American diesel vehicle owners and lessees; the German law firm, TILP Litigation Rechtsanwaltsgesellschaft mbH, the lead counsel in the Euro €10 billion collective international investor claim action against Volkswagen in Germany; and the Dutch law firm, Lemstra Van der Korst N.V., that represents a foundation for damaged investors in Petrobras having billions of US dollars and euros in losses in Petrobras, as well as similar foundations for Libor rate rigging and other matters. The coalition is working together with Danish law firm Németh Sigetty to bring justice to investors who lost as much as USD $15 billion, as a result of revelations of Danske’s money laundering scheme, financial mismanagement and deficient regulatory disclosures.

     

    ISAF is an investor protection interest company. ISAF provides administration and organizes the collection of client trading data, investor loss calculations and certification, investor related litigation documentation and full funding for the group litigation.

     

    In terms of Collective Investor Actions, Denmark is an opt-in jurisdiction. The process to recover losses requires damaged investors to proactively join an organized litigation “Group” which will aggregate each investor’s loss into a collective loss in a single claim and action before the Danish Court. Németh Sigetty will file this Group litigation on behalf of the eligible investors organized via the ISAF coalition in the coming months. Group litigation, such as the litigation against Danske Bank, is a costly proposition in Denmark.

     

    The investors joining the ISAF coalition litigation in Denmark do not have to pay any upfront or running costs during this litigation, including: any legal fees, court fees, potential counter-party legal cost risk guarantees, claims analysis costs or administration costs. If the litigation results in a financial settlement or judgment for damaged investors, the ISAF coalition will only collect a percentage-based success fee at the very end of the process.

     

    Investors who own or have owned shares of Danske Bank on the Copenhagen Stock Exchange (Nasdaq Copenhagen) between 2007-2018 and suffered losses after the revelations in 2017 and 2018 of the critical deficiencies in Danske Bank’s anti-money laundering protocols and procedures are eligible to pursue compensation via this ISAF-sponsored Group litigation in Denmark.

     

    The coalition includes:

     

    Law Firms:

     
    • Németh Sigetty – The lawyers at Németh Sigetty have a well-deserved reputation for handling major, complex, and high-stakes disputes against both private party litigants and government authorities and have vast experience with investor group litigations in Denmark. Németh Sigetty has had a yearlong cooperation with the Danish Shareholders’ Association and has represented damaged investors in the Amagerbanken and Pandora litigations.
    • Pomerantz LLP – An American law firm founded over 80 years ago that specializes in securities litigation and has served as lead counsel in many major cases, including as lead counsel in the Petrobras securities fraud class action in the U.S. which resulted in a USD $3 billion settlement, one of the largest shareholder settlements in US history.
    • Lieff Cabraser Heimann & Bernstein, LLP – American law firm Lieff Cabraser Heimann & Bernstein, LLP has litigated and resolved some of the most important complex civil and securities litigations in recent history, including the recent $15 billion civil settlement with Volkswagen on behalf of American diesel vehicle owners and lessees.
    • TILP Litigation Rechtsanwaltsgesellschaft mbH – The leading collective action law firm in Germany, pursuing compensation for investment losses in securities fraud cases in Germany and throughout Europe. TILP has been appointed as the law firm to represent the model plaintiff in the highly publicized Volkswagen “Dieselgate” KapMuG collective litigation proceeding in Braunschweig, Germany. TILP Litigation is litigating the Volkswagen case on behalf of international investors with damages claims in excess of EUR €9.5 billion.
    • Lemstra Van der Korst - A leading law firm in the Netherlands with vast experience representing international investors in Dutch collective litigation and global settlements law (WCAM). Lemstra has recently secured a critical jurisdiction ruling in the highly publicized group litigation in the Netherlands on behalf of damaged Petrobras investors. Lemstra Van der Korst has represented damaged international shareholders in global settlements, including the Converium and Royal Dutch Shell WCAM settlements.

    Administrators, Funders, Service Providers and Consultants:

     
    • ISAF Management - ISAFManagement Company and ISAF for Damaged Danske Investors, LLC provides international litigation research and organization focused on institutional investor objectives. ISAF interacts with investors, law firms, service providers and undertakes administrative tasks, including the collection of client trading data, loss calculations, loss certification, and most aspects of investor related litigation documentation. In addition, ISAF provides investors with transparent, cost effective contingency financing of all litigation costs.
    • Battea Class Action Services– Battea Class Action Services, LLC, an international leader and expert in the class action securities processing and claims filing space, has been retained to securely collect, store and process client data and validate each investor’s loss calculations, to be included in the collective Group loss claims.
    • U.S. Market Advisors Law Group PLLC – An American law firm that provides professional services to leading national and global law firms in matters involving financial markets trading, economic modeling, market structure understanding, research and transaction analysis.

    Eligible investors who wish to participate in the Group litigation referenced above must proactively join the ISAF litigation Group prior to the filing of the complaint with the Danish Court. The writ of summons will be filed in the first quarter of 2019. Investors who experienced losses must contact ISAF so that eligibility can be verified and claims can be properly registered with the Court.

     

     

     

     

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    Business Wire IndiaIntuit Inc. (Nasdaq: INTU) today announced its newest program to enable entrepreneurial success through financial literacy and developer partnership for startups across the country called Intuit Circles. Intuit will work towards strengthening the Indian startup ecosystem by leveraging the power of various stakeholders like investors, co-working spaces, incubators, accountants etc. for the prosperity of entrepreneurs.
     
    India has the second largest startup ecosystem in the world and is expected to witness a year on year growth of 10% to 12%. Today we have 40k startups in the country; $34 billion was invested in India since 2014 with 50% of the funds invested in 2017 and Q1 of 2018 alone. Intuit has a long history of working with small businesses and startups globally. Over the years of working with startups, it has been found that one in five startups fail in the first three years because of poor financial management. Lack of financial literacy results in small businesses struggling to manage their cash flow and also get access to capital.
     
    The Intuit Circles program aims to create an ecosystem that is a trusted friend to start-ups throughout their journey, powering their prosperity through innovative products and allows them to develop solutions for Intuit customers by integrating their technology with QuickBooks Online. The program has two key goals:

    1. Help startups in their financial management journey by being their preferred software partner of choice.
    2. Leverage the unique innovation that such startups have built that solve our customer problems by partnering with them – solutions which complement and strengthen our QuickBooks Online ecosystem.
    Through live events and training session, selected participants will learn where they stand, how to track their business day-to-day and get immediate financial insights and how to leverage this data to plan for the future. Intuit will offer the startups that fit the profile, a nine months free subscription of QuickBooks Online, the world’s No.1 accounting software for small businesses. They will also get a 50% discount on the subscription of QuickBooks Online for the next one year.
     
    Additionally, the program provides an introduction to QuickBooks ProAdvisors - accountants who have worked with a large number of start-ups in India. If a startup is looking for an accountant, Intuit will make a connect with one of the many thousands of accountants using QuickBooks Online in India. The startup will then have the choice to procure for a fee the services of these accountants. The accountants will work with these startups, enabling them to be on top of their business and financial management. The participants also get an opportunity to network and be mentored by Intuit leaders.
     
    Intuit will also look partner with startups to leverage their unique innovations to solve customer problems which complement its products and strengthen its ecosystem. Intuit has the world’s leading small business Apps Store (apps.com) and offer the best in-class developer tools. The Intuit Developer Group is a trusted open platform of choice for developers worldwide to build apps that help small businesses and accountants succeed. Developers are armed with the right tools to create powerful apps that are integrated with the QuickBooks Online platform and help them market their apps and give them access to over 3.6 million QuickBooks Online customers worldwide. Today, there are more than 5000 apps on the platform, of which 600 are published in the app store.
     
    “We are delighted to announce 'Intuit Circles' for the startup ecosystem in India,” said Sanket Atal, Managing Director, Intuit India. “Financial literacy skills are integral to entrepreneurial success and without proper guidance or support, startups may find it challenging to make the right decisions to fuel their own success. To alleviate this, we are pleased to collaborate with various stakeholders in the ecosystem to bring us one step further in our efforts to make a positive impact on the Indian startup community.”
     
    The rise of the startup ecosystem opens up numerous ways to work with entrepreneurs who can drive the next growth opportunity for India. Intuit wants to be the champion of small businesses by powering their prosperity and enabling them to leverage its platform to create solutions that will have real impact.

    For more information on Intuit Circles visit www.intuitcircles.com

    Follow Intuit Circles on Social Media:
    Twitter - @intuitcircles
    Facebook - IntuitCircles
    Instagram – intuitcircles
    About Intuit India
     
    Intuit India is a subsidiary of Intuit Inc. the maker of QuickBooks Online, the world's No.1 online accounting solution for small businesses. Launched in India in 2012, QuickBooks Online has been helping small businesses in the country prosper by making more money, eliminating work and being more confident in financial decisions. Intuit India, the company's first venture in Asia Pacific, commenced operations in 2005 and currently has more than 1,000 employees. Intuit stands on the core principles of customer-driven innovation and powering prosperity through its ecosystem of innovative financial management solutions. Intuit is an employer of choice best-in-class appeared on the Great Place to Work Institute and Economic Times 'India's Best Companies to Work For' for the past nine years and ranking #1 in 2017 and #2 in 2018. For more information visit us at QuickBooks Online India and follow us on Facebook.
     
    About Intuit
     
    Intuit’s mission is to Power Prosperity Around the World. Our global products and platforms, including TurboTaxQuickBooksMint and Turbo, are designed to empower consumers, self-employed and small businesses to improve their financial lives, finding them more money with the least amount of work, while giving them complete confidence in their actions and decisions. Our innovative ecosystem of financial management solutions serves approximately 50 million customers worldwide, unleashing the power of many for the prosperity of one. Please visit us for the latest news and in-depth information about Intuit and its brands and find us on social.

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    Business Wire IndiaClover Health, a healthcare company using technology to improve medical outcomes, today announced a new partnership with collaborative care management leader, HealthHelp, a WNS company. This partnership will enable both companies to deliver care that is highly-personalized and fully aligned with individual member needs across radiology, cardiology, oncology, musculoskeletal, and sleep care. Also included, is an Integrative Oncology program that creates a continual pathway for managing cancer. This unites multiple aspects of cancer care, including screening, risk modeling, imaging & staging, biopsies and interventions, prognostic indicators, and treatments including chemotherapy, radiation therapy, supportive therapy, oncology surgeries.
     
    WNS-HealthHelp has a consultative process that utilizes evidence-based guidelines to directly help providers facilitate the most appropriate tests and procedures for their patients. This collaborative approach leverages panels of specialists throughout the country to ensure that every patient has access to the best doctors in each practice field and the most up-to-date form of care.
     
    “Clover Health is proud to join forces with HealthHelp, a trailblazer in the prior-authorization space,” said Ethan Lipkind, Head of Network and Development, Clover Health. “Actively collaborating with physicians and provider networks minimizes roadblocks, moving towards a non-denial approach of insurance that guarantees our members receive appropriate and timely care. Most importantly, everything is done in the best interest of the member, as the HealthHelp platform removes any financial incentive to approve or deny coverage.”
     
    HealthHelp also provides education and access to a network of leading practicing specialists, resulting in improved transparency, safety, and quality of care. Doctors have no financial incentive to recommend or deny treatment that is not in the best interest of the patient. As a result, members and providers benefit from increased collaboration between physicians and provider networks, further strengthening rapport and communication activities and ensuring optimal care.
     
    “WNS-HealthHelp is pleased to partner with Clover Health, an innovative leader in non-denial health insurance coverage,” said Cherrill Farnsworth, CEO, WNS-HealthHelp. “Clover Health’s unparalleled data analytics and mission to improve the member experience align perfectly with the work we are doing to strengthen provider-payer relationships.”
     
    The partnership is now in effect in all Clover markets. Currently, Clover serves more than 30,000 seniors and others eligible for Medicare in parts of Georgia, New Jersey, Pennsylvania and Texas.
    About Clover Health

    Clover Health is a healthcare technology company with a deeply-rooted mission of helping its members live their healthiest lives. Clover uses its proprietary technology platform to collect, structure and analyze health and behavioral data to improve medical outcomes and lower costs for patients. As the only company whose business goals fully align with its members' health needs, Clover works with members and their caregivers to become a valued partner. This trust is built by proactively identifying at-risk individuals and teaming up with providers to accelerate care coordination and simultaneously improve health outcomes and reduce avoidable costs. Clover is headquartered in San Francisco.

    For more information, visit 
    www.cloverhealth.com
     
    About HealthHelp

    HealthHelp, a WNS Company, is a leader in specialty benefits management. HealthHelp generates significant savings and return on investment for health care payers by enhancing physician knowledge, improving the quality of care, and reducing unnecessary radiation exposure. Each of its programs addresses a different aspect of radiology, cardiology, oncology, musculoskeletal, and sleep care. The clients of Houston-based HealthHelp administer local, statewide, and national health care plans across the country.

    For more information about HealthHelp’s programs, visit www.healthhelp.com
     
    About WNS

    WNS (Holdings) Limited (NYSE: WNS), is a leading global business process management company. WNS offers business value to 350+ 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 September 30, 2018, WNS had 38,516 professionals across 57 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 

    Contacts -

    Clover Health
    Media:

    Andrew Still-Baxter
    andrew.stillbaxter@cloverhealth.com
    406-250-8397

    HealthHelp (WNS)
    Investors:

    David Mackey
    Corporate SVP - Finance & Head of Investor Relations
    WNS (Holdings) Limited
    +1 (201) 942-6261
    david.mackey@wns.com

    Media:
    Archana Raghuram
    Head – Marketing & Communications
    WNS (Holdings) Limited
    +91 (22) 4095 2397
    archana.raghuram@wns.com; pr@wns.com

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    Business Wire India

    (From Left to Right): Anuj and Balakrishnan, new hires at EarlySalary
    (From Left to Right): Anuj and Balakrishnan, new hires at EarlySalary

    EarlySalary, India’s largest consumer lending application today announced the appointment of two senior industry professionals to its leadership team - Balakrishnan Narayanan as Head Analytics and Anuj Ranka as Performance Marketing Head. This development is part of a strategy to help the company achieve its mid-term objective of a balance sheet of around INR 2000 crores, while over the next 3 years to build a financial institution of nearly INR 5000 crores.

    Balakrishnan Narayanan as the Head of Analytics will be responsible for building Machine Learning & Analytical capabilities within the risk, marketing, digital and customer analytics space. He is a seasoned Data Science professional with over a decade of extensive experience in diverse industries including banking, financial services, consulting and ITES. He has designed and implemented an AI based loan underwriting platform based on traditional and non-traditional data, that helps identify customer behaviour and their risk pattern. He has been a part of leading financial institutions like Standard Chartered Bank, GE Capital and ICICI Bank, therein contributing to the field of advanced analytics and strategic initiatives. His prior experience involved consulting engagements with organizations across geographies including Europe and UK, where he was instrumental in driving innovation for Fortune 500 companies. Some of the projects led by him have won accolades at Big Data Analytics Awards in India and abroad.

    Talking about his new role Balakrishnan said, “Having played an active part in designing and implementing advanced analytics solutions globally in banking and financial services, the unique positioning of EarlySalary within the fintech space thrills me. In my role I will build best in class advanced analytics and AI solutions to help the company create a unique proposition by making use of traditional and non-traditional data to identify customer behaviour and their risk pattern in a jiffy. This position offers me a platform to use the latest available machine learning & AI capability to impact the life of millions of customers positively. I am honoured to join this high calibre team and look forward to helping shape the EalrySalary offerings.”

    Anuj Ranka as Performance Marketing Head will oversee optimization of digital marketing channels for the next level of growth at EarlySalary, and analyse and understand customer behaviour to acquire customers digitally in a cost-effective manner. In his previous roles he was the Digital Strategist at Furlenco and Head of Digital Marketing for Langoor(Australia Unit), a Flex PM Consultant at ITC Infotech and an SEO Expert at S.S Compusoft. Anuj has done Executive Program in Business Intelligence and Analytics from the Indian Institute of Management, Bangalore and a BE in Telecommunications Engineering from PESIT, Bangalore.

    Anuj stated, EarlySalary is a digital-first company which is disrupting the lending space by using data and technology. We have disbursed over INR 550 crores in loans so far and we are heading towards doubling this number by next year. In this role, my efforts will be directed towards bringing in the next big wave of growth via leveraging my experience of building digital acquisition & retention programs which are scalable and customer-centric. We will be investing in the right ad networks, partnerships and people in the coming months to build a strong in-house growth engine.”

    Akshay Mehrotra, Co-founder and CEO of EarlySalary said, “Both Bala and Anuj are brilliant individuals who are experts in their domains. We have big dreams for the company and our team is pivotal to this. We are extremely lucky to have them on board and I look forward to working closely with them on our journey to become one of the largest FinTech institutions in the country.”

    EarlySalary has a presence in 17 cities across the country. EarlySalary 2.0 has also recently been introduced to provide a simpler interface to accommodate complex product needs of the customers which includes customer service requests, limit management, self - serving platform, a Chatbot, etc.

    EarlySalary was founded by Akshay Mehrotra and Ashish Goyal in 2015 and recently became India’s largest consumer lending application by crossing the INR 550 Crores disbursal mark. They are now disbursing INR 80 crore a month. The mobile first lending application has provided financial assistance to over 135,000 Unique Customers through 350,000 cumulative loans which has made EarlySalary the first line of credit for young working Indians.About EarlySalary.com

    Founded by Akshay Mehrotra and Ashish Goyal, EarlySalary is a mobile app which allows salaried individuals to avail of financial assistance. The company offers a banquet of products tailor to need of young India including salary advances, instant loans, interest-free EMI options and a line of credit to shop. The company conducts a prudent risk assessment by leveraging machine learning to go beyond financial underwriting.

    EarlySalary earlier this year raised INR 100 crores in January 2018 led by Eight Roads Ventures (Fidelity). With more than 7 Million Downloads and loans worth Rs.550Cr already being disbursed, EarlySalary is helping customers borrow within minutes. EarlySalary has fast become the 1st line of credit for young working professionals in India.

    Key Features
    • Instant access to funds in less than 10 minutes
    • High Automation: 73% loans are Machine Approved & instantly disbursed
    • Loans of values ranging from Rs. 5,000 to Rs. 2 Lac cash can be accessed for a tenor from 50 days to 2 years.
    • Shop now and pay later - ability to use the loan limit to shop online on credit on Amazon, Flipkart & BigBazaar.
    • FeES: education loans to pay for your child’s school fees & education needs or pay for a skill upgradation course.
    For more information please visit www.earlysalary.com

    Like us on Facebook: Facebook.com/EarlySalary
    Follow us on Twitter: @Early_Salary

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    Business Wire India

    Andersen Global announced a collaboration agreement with Mondon Conseil International, a notable Western African tax consulting, legal, accounting and financial advisory services firm based in Ivory Coast.

     

    The agreement further establishes Andersen Global’s footprint in Africa. The global organization now has a presence in nine locations since entering the African tax and legal market less than two years ago.

     

    “I started my career over 30 years ago at Arthur Andersen, so my values of transparency and seamless, best-in-class service are already well-aligned with Andersen Global’s core values. It is only fitting that the growing market leader of tax and legal services in the region collaborate with Andersen Global, a name I respect,” said Pacôme Mondon, Founder and Managing Partner of Mondon Conseil International.

     

    Founded in 2001 with the goal of becoming the premier tax firm in the region, Mondon Conseil International advises local and international clients on fiscal and business law issues including trade, labor, and foreign exchange regulations, and works with CFOs, treasurers and other financial leaders on transitioning to the new accounting requirements introduced by regulators and tax administrations.

     

    “Pacôme and his team at Mondon Conseil are paramount to the growth of our global organization in West Africa. Their current firm is already larger than other practices in the region and Pacôme and his colleagues can provide leadership in supporting the French-speaking sector of Africa,” said Mark Vorsatz, Andersen Global Chairman and Andersen Tax LLC CEO. “On top of expanding legal capabilities in the region with Mondon Conseil, we have the added pleasure of welcoming an Arthur Andersen alumnus back into the family and I expect that Pacôme will be a key player in the expansion in West Africa.”

     

    Andersen Global is an international association of legally separate, independent member firms comprised of tax and legal professionals around the world. Established in 2013 by U.S. member firm Andersen Tax LLC, Andersen Global now has nearly 4,000 professionals worldwide and a presence in over 122 locations through its member firms and collaborating firms.

     

     

     

     

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    Business Wire India

    Hiranandani Signature (IFSC) - Gandhinagar
    Hiranandani Signature (IFSC) - Gandhinagar

    • Latest edition of ‘Global Financial Centres Index 24 (GFCI)’, released in London last week, places GIFT City as the third among 15 IFSCs world-wide
    • Hiranandani Signature offers 4.2 million square feet of office space in India’s first fully functional IFSC
    • 2,111 tons of steel, 8,000 tons of cement, 20,636 Cubic Meters of concrete adds up to a stunning, 16-storey edifice clad in glass
    At Hiranandani Communities, the trend is to create landmarks which set benchmarks. It is matter of pride for Hiranandani Communities that Hiranandani Signature, our maiden project in the Gujarat International Finance Tech City (GIFT City) is also the first fully operational commercial tower within the international financial services Centre (IFSC) at GIFT City, said Dr. Niranjan Hiranandani, CMD, Hiranandani Communities. 
     
    India’s first International Financial Services Centre (IFSC) at the Gujarat International Finance Tech City (GIFT City) made its global mark, by being named among the top three emerging business hubs in the world. The latest edition of ‘Global Financial Centres Index 24 (GFCI)’, released in London last week, places GIFT City as the third among 15 IFSCs that are likely to become more significant in the next few years. “This effectively features GIFT City as one of the significant emerging IFSCs in the world,” said a visibly elated Dr. Niranjan Hiranandani. He added that the GFCI report is produced bi-annually by the China Development Institute (CDI) in Shenzhen and Z/Yen Partners in London, which is a leading commercial ‘think tank’.
     
    GIFT City is more than just Prime Minister Narendra Modi’s dream project. The IFSC has empowered the Indian Banking and Financial Services and Insurance (BFSI) sector, enabling it to compete with global players – without the need to set up an office at global finance centers like Singapore, Dubai or London. When Prime Minister Narendra Modi commenced business activities by ‘ringing the bell’ at the BSE’s global exchange on 09 January 2017, he did so in ‘Hiranandani Signature’ – where the BSE’s Global Trading Exchange is located.
     
    Hiranandani Signature is a stunning edifice clad in glass, a testimony to Hiranandani Communities’ professionally structured corporate organization. 2,111 tons of steel, 8,000 tons of cement, 20,636 Cubic Meters of concrete adds up to a stunning, 16-storey edifice clad in glass, that offers 4.2 million square feet of office space, within India’s first fully functional IFSC.
     
    One of India’s leading real estate companies, Hiranandani Communities has pioneered newer technologies, bold design and precision engineering to create landmark residential townships and commercial complexes. Hiranandani Signature is an achievement – and it is not just about the tower being completed within 13 months, but also how it was done, by following global best practices, some of which were picked up when ‘23 Marina’ was constructed in Dubai, in the United Arab Emirates (UAE) a few years back.
     
    Hiranandani Signature, the first fully functional commercial tower in GIFT City’s IFSC, offers a ‘no compromise’ methodology as regards structural stability and safety aspects. Home to the Bombay Stock Exchange’s global trading platform since 09 January 2017, it is not just an achievement for India’s BFSI sector but also fulfillment of Prime Minister Narendra Modi’s dream of setting up an International Financial Services Centre in India. “It is going beyond the Prime Minister’s dream, to have the Global Financial Centres Index 24 (GFCI), last week, place GIFT City as the third among 15 IFSCs likely to become more significant in the next few years. It definitely points to an even brighter future,” concluded Dr. Niranjan Hiranandani.

    Dr. Niranjan Hiranandani is Founder & MD, Hiranandani Group, his recent initiative is Hiranandani Communities. He is the President, National Real Estate Development Council (NAREDCO), which works under the aegis of Ministry of Housing & Urban Affairs, Government of India.

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    Business Wire India

    • Significant Milestone in Proposed Acquisition of Shire
    • Completes Intended Refinancing Program for Takeda’s Bridge Credit Agreement
    • Supports Takeda’s Commitment to Maintain Investment Grade Credit Rating Post-Closing
    • Bolsters Takeda’s Commitment to Accelerate its Transformation into a Global, Values-based, R&D-driven Biopharmaceutical Leader Headquartered in Japan

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

     

    Takeda Pharmaceutical Company Limited (TSE:4502) (the “Company or “Takeda”) announces that it has today, December 3, 2018 (London time), entered into a Loan Agreement with the Japan Bank for International Cooperation ( “JBIC”) for an aggregate principal amount of up to 3,700,000,000 U.S. dollars (the “JBIC Loan”). The JBIC Loan will finance a portion of the funds necessary for the acquisition of Shire plc (“Shire”) (the “Acquisition”) and reduce commitments under the 364-Day Bridge Credit Agreement entered into in connection with the Acquisition on May 8, 2018 (as amended on June 8, 2018 and October 26, 2018) (the “Bridge Credit Agreement”).

     

    “We are pleased to have secured this loan from JBIC, an organization which promotes the maintenance and strengthening of the international competitiveness of Japanese industries,” said Costa Saroukos, Chief Financial Officer of Takeda. “This marks the completion of the intended refinancing program for our bridge facility at an overall blended interest rate across the various components of the refinancing that is highly satisfactory, which we believe supports our intention to maintain our well-established dividend policy and investment grade credit rating. We think that JBIC’s participation in the financing of the Acquisition further bolsters our commitment to accelerate our transformation into a global biopharmaceutical leader headquartered in Japan.

     

    In accordance with Rule 26 of the City Code on Takeovers and Mergers, a copy of the JBIC Loan will be published on Takeda's website and will be available to view at www.takeda.com/investors/offer-for-shire by no later than 12 noon (London time) on the business day following the date of this announcement. Please note that the Acquisition remains subject to certain conditions, including approval by the shareholders of both companies.

     

    1.Details of the JBIC Loan

     
    (a) Borrower   Takeda Pharmaceutical Company Limited  
    (b) Lender   Japan Bank for International Cooperation  
    (c) Execution date of agreement   December 3, 2018  
    (d) Total borrowing limit   3,700,000,000 U.S. dollars  
    (e) Interest rate   LIBOR rate plus an applicable margin  
    (f) Use of proceeds   Payment of a portion of the Acquisition cash consideration and related fees, costs and expenses incurred by Takeda  

    2.Impact on the financial results for the fiscal year ending March 2019
    Upon the execution of the JBIC Loan, the commitments under the Bridge Credit Agreement will be reduced by 3,700,000,000 U.S. dollars. We will announce the impact of the JBIC Loan on our business performance promptly after we estimate it.

     

    About Takeda Pharmaceutical Company
    Takeda Pharmaceutical Company Limited (TSE: 4502) is a global, research and development-driven pharmaceutical company committed to bringing better health and a brighter future to patients by translating science into life-changing medicines. Takeda focuses its R&D efforts on oncology, gastroenterology and neuroscience therapeutic areas plus vaccines. Takeda conducts R&D both internally and with partners to stay at the leading edge of innovation. Innovative products, especially in oncology and gastroenterology, as well as Takeda's presence in emerging markets, are currently fueling the growth of Takeda. Approximately 30,000 Takeda employees are committed to improving quality of life for patients, working with Takeda's partners in health care in more than 70 countries. For more information, visit https://www.takeda.com/newsroom/.

     

    Important Notice
    This announcement is not intended to, and does not, constitute, represent or form part of any offer, invitation or solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise.

     

    The distribution of this announcement in jurisdictions outside the United Kingdom or Japan may be restricted by law or regulation and therefore any person who comes into possession of this announcement should inform themselves about, and comply with, such restrictions. Any failure to comply with such restrictions may constitute a violation of the securities laws or regulations of any such relevant jurisdiction.

     

    Publication on Website
    In accordance with Rule 26.1 of the Code, a copy of this announcement will be made available (subject to certain restrictions relating to persons resident in restricted jurisdictions) on Takeda's website at www.takeda.com/investors/offer-for-shire by no later than 12 noon (London time) on the business day following the date of this announcement. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.

     

    Disclosure requirements of the Code
    Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

     

    Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.

     

    If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

     

    Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

     

    Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.

     

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    Business Wire India

    Dr. K. V. Srinivasan - Chairman of TEXPROCIL
    Dr. K. V. Srinivasan - Chairman of TEXPROCIL

    During the current year period April–September 2018, the exports of cotton textiles (Yarns, Fabrics, Made-up and Raw cotton) from India reported a growth of 26.81% reaching a level of USD 6.23 billion, stated Shri Ujwal Lahoti, Chairman of The Cotton Textiles Export Promotion Council (TEXPROCIL) at the 64th Annual General Meeting of the Council held on 29th of November 2018.

    Shri Lahoti further stated that during this period (January-December 2017), India exported cotton textile products worth USD 10.82 billion reporting a growth of 3.54% over the previous year. Cotton made-ups (USD 5.26 billion) dominated the Indian cotton textiles basket with a share of 48.61%, followed by cotton yarns (USD 3.45 billion) achieving a share of 31.88% and cotton fabrics (USD 2.11 billion) recording a share of 19.51%.

    GST - 

    Texprocil Chairman stated that there are some areas in GST, which need urgent attention of the policymakers. These are as follows:

    • Refund of IGST on exports should be delinked from monthly returns (GSTR-1 & GSTR-3B). 
    • IGST refund should be given to exporters availing deemed exports benefit on domestic purchase under Advance Authorization and 100% EOU.
    • Refund of Unutilized Input Tax Credit (Transitional Credits) should be allowed when goods are exported under LUT.
    • Merchant exporters availing of benefit of concessional GST rate on purchase of export goods should be allowed IGST refund on exports.
    • GST Commissionerates should strictly follow the guidelines issued by CBIC for a refund of Unutilized Input Tax Credit on exports under LUT/Bond.
    • Further, during July 1, 2017 to September 31, 2017 higher Drawback rates were allowed as a transitional measure subject to non-availment of ITC. However, many exporters erroneously availed of ITC and also higher rate of Drawback. As a result, they have not received IGST refund. Exporters subsequently, surrendered the difference between higher Drawback and lower Drawback. However, they are still waiting for IGST refund. The Chairman, TEXPROCIL urged the Govt to refund IGST to such exporters.

    Dr. K. V. Srinivasan appointed as Chairman of TEXPROCIL

    Dr. K.V. Srinivasan has been elected as Chairman of The Cotton Textile Export Promotion Council (TEXPROCIL) for the year 2018 – 2020 during 64th AGM of TEXPROCIL held on 29th November, 2019 at Mumbai.

    Dr. K. V. Srinivasan is the Managing Director of Sree Narasimha Textiles Pvt. Ltd., Premier Mills Pvt. Ltd. & Premier Fine Linens Pvt. Ltd.

    He earned his Doctorate from the University of Manchester. He is the vice president of International Textile Manufacturers Federation, Zurich (ITMF) from 2018. He is the Chairman of the South Indian Textile Research Association (SITRA), Coimbatore. He was also Chairman of the Southern India Mills Association, (SIMA), Coimbatore from 2007 to 2009. He was the Chairman of CII, Coimbatore Zone for 2015 – 16. Among other positions held is Trustee of Kasthuri Sreenivasan Trust, Coimbatore Golf Club Trust and PSG & Sons Charity Trust.


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    Business Wire India

    Värde Partners, a leading global alternative investment firm, today announced the final close of the Värde Asia Credit Fund (“the Fund”) with approximately $400 million of committed capital. The Fund, which exceeded its $250 million target and closed after six months, is the firm’s first Asia-dedicated vehicle.

     

    The Fund has the flexibility to invest across corporate credit, special situations lending and stressed and distressed real estate investments throughout Asia Pacific.

     

    Värde expects the opportunity set to be driven by structural and cyclical factors in the region, including bank retrenchment and less developed capital markets, as well as sectors with high leverage and slowed growth in certain economies and industries.

     

    “Asia presents a massive opportunity for Värde to provide flexible capital and restructuring expertise while delivering value to our investors around the world,” said Ilfryn Carstairs, Partner and Global Co-Chief Investment Officer based in Singapore. “Since opening our regional headquarters in Singapore more than a decade ago, we have built institutional infrastructure in the region, thoughtfully expanded into new markets and hired local professionals in key areas of activity. This is an exciting milestone for the firm and we believe that Asia will be an increasingly important market for us in the years to come.”

     

    Jon Fox, Partner and Global Head of Business Development and Investor Relations, said: “The terrific response to the Värde Asia Credit Fund is a reflection of the compelling opportunity set and our deep experience in the region. We are thrilled to have both new and long-time investors join us in this Fund.”

     

    Värde has invested over $4 billion across 15 countries in Asia Pacific and has more than 40 employees in offices in Hong Kong, Mumbai, Singapore, Sydney and Tokyo. The firm launched a strategic partnership with Aditya Birla Capital in India in September and opened its fifth Asia office in Mumbai in November. The Värde Asia Credit Fund received commitments from a global and diverse base of investors, including public and private pensions, endowments, foundations and family offices across North America, Europe and Asia.

     

    About Värde Partners:

     

    Värde Partners is a $14 billion global alternative investment firm that employs a value-based approach to investing across a broad array of geographies, segments and asset types, including corporate and traded credit, specialty finance, real estate, mortgages, energy, real assets and infrastructure. The firm sponsors and manages a family of private investment funds with a global investor base that includes foundations and endowments, pension plans, insurance companies, other institutional investors and private clients. Now in its third decade, Värde employs more than 300 people globally with regional headquarters in Minneapolis, London and Singapore.

     

     

     

     

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    Business Wire India

    Moody’s Analytics is pleased to announce the launch of its Accelerator, formed to leverage emerging technologies to build the next generation of Moody’s Analytics solutions.

     

    The Moody’s Analytics Accelerator team leverages a disciplined approach to early stage product development and forms strategic partnerships with leading financial technology companies to explore new business opportunities adjacent to the Moody’s Analytics core businesses.

     

    “The Accelerator framework allows our team to be dedicated to bringing innovations to customers,” said Keith Berry, Executive Director of the Moody’s Analytics Accelerator. “Our vision is to help Moody’s Analytics customers navigate the evolving marketplace with confidence by using the technologies of tomorrow to solve the challenges of today.”

     

    The Accelerator searches for new ways to combine Moody’s Analytics extensive data resources with the technologies that are revolutionizing business today. The Accelerator team is currently focusing resources on two initial areas of product development:

     
    • Automating customer workflows using technologies such as machine learning and artificial intelligence.
    • Growing the Moody’s Analytics Commercial Real Estate data and analytics offering as the company expands its solutions set across all CRE workflows.

    “We created the Accelerator to ensure Moody’s Analytics continues to lead the industry in data and analytics, helping customers make better, faster decisions,” said Mark Almeida, President of Moody’s Analytics. “The Accelerator is an integral part of our business and I look forward to its work advancing the evolution of our company.”

     

    Click here to learn more about the Moody’s Analytics Accelerator.

     

    About Moody’s Analytics

     

    Moody’s Analytics provides financial intelligence and analytical tools to help business leaders make better, faster decisions. Our deep risk expertise, expansive information resources, and innovative application of technology help our clients confidently navigate an evolving marketplace. We are known for our industry-leading and award-winning solutions, made up of research, data, software, and professional services, assembled to deliver a seamless customer experience. We create confidence in thousands of organizations worldwide, with our commitment to excellence, open mindset approach, and focus on meeting customer needs. For more information about Moody’s Analytics, visit www.moodysanalytics.com.

     

    Moody's Analytics is a subsidiary of Moody's Corporation (NYSE: MCO). MCO reported revenue of $4.2 billion in 2017, employs approximately 12,600 people worldwide and maintains a presence in 42 countries.

     

     

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    Business Wire India

    MetLife continues to expand access to new and differentiated health services for customers in Asia to help them better understand and manage their risk of serious illnesses like cancer and determine the best prevention and treatment options.

     

    AmMetLife Insurance Berhad (“AmMetLife”), the strategic partnership between MetLife and AMMB Holdings Berhad (AmBank Group), has launched a first-of-its-kind plan in Malaysia that includes coverage of genomic testing for customers diagnosed with cancer.

     

    The “HCC BoostUp Rider,” attached to the HealthCare Choice Rider, gives customers coverage for a unique combination of medical benefits including genomic testing for cancer, out-patient dengue treatment, home nursing care, and pre-hospitalisation treatment.

     

    “We’re pleased that AmMetLife, is the first insurer to offer a genomic tumour assessment benefit for cancer patients in Malaysia, so they have more information to undertake precision treatment. We already offer genomic testing and precision medicine benefits through some of our solutions in China and pharmacogenomics benefits as a value added service in Korea,” said Joyce Au-Yeung, Regional Head of Health for MetLife in Asia.

     

    To ensure its services and solutions keep pace with medical trends and customers’ evolving needs, MetLife has teamed up with leading medical experts like Dr. Steven Tucker, who specialises in cancer, genomics and precision medicine.

     

    “Genomics is a game changer when it comes to cancer treatment. No two people are the same and consumers everywhere are demanding more personalisation. Medical care is no different and genomics allows us to define the unique characteristics of a patient’s cancer and treat it with precision,” said Dr. Tucker, MetLife’s external medical consultant.

     

    Across Asia, MetLife is steadily building out a combination of holistic insurance solutions and services to help customers better understand how to prevent, diagnose, treat and manage serious illness. In doing so, the company is focused on the five serious illnesses most relevant to Asians: cancer; cardiovascular disease; diabetes; dementia; and mental health.

     

    “Our ambition is to help customers in Asia increase the number of healthy years they live by providing access to differentiated services to help prevent, diagnose, treat, and manage these conditions,” added Au-Yeung.

     

    Note: Genomic testing is done through third parties. Genetic information collected will not be made available to MetLife and its subsidiaries/affiliates.

     

    About MetLife

     

    MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates ("MetLife"), is one of the world's leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.

     

    About AmMetLife

     

    AmMetLife is a strategic partnership between AMMB Holdings Berhad (AmBank Group) and MetLife International Holdings LLC (MetLife). AmMetLife offers a comprehensive range of life assurance and wealth protection solutions distributed through a combination of over 200 AmBank and AmMetLife branded branch offices, in addition to the strength of its authorised life insurance agents nationwide.

     

    The strategic partnership combines the international expertise and financial strength of MetLife with the local strength and reach of AmBank Group to create a customer-centric and modern life assurance solutions provider in Malaysia.

     

     

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    Business Wire India

    GSMA Director General Mats Granryd has been appointed as a member of a new United Nations Task Force dedicated to harnessing the potential of technology and digital financing to advance the UN’s Sustainable Development Goals (SDGs). The appointment underlines the key role the mobile industry is playing in driving digital and financial inclusion across the world.

     

    The new Task Force on Digital Financing of the Sustainable Development Goals brings together leading figures from a range of sectors, including experts from the investment community, capital markets, government and civil society, as well as leading banks and innovators in digital payments.

     

    “Rapid developments in digital financial services mean we now have a great opportunity to expand financial inclusion to many hundreds of millions more people, and I am honoured to be part of a Task Force dedicated to accelerating progress in this area, as well as financing the SDGs more broadly,” said Granryd. “Mobile’s unprecedented global scale provides a platform to bring secure digital payment and financing services to people in all corners of the world, helping to reduce poverty and inequality.”

     

    The Task Force will convene at the World Economic Forum in Davos next month and is expected to present its report of initial recommendations to UN Secretary-General António Guterres later in 2019. The Task Force is co-chaired by Maria Ramos, Chief Executive Officer of the Absa Group Ltd. (South Africa) and Achim Steiner, Administrator of the United Nations Development Programme.

     

    Mobile Connectivity, Mobile Money and the SDGs

     

    In 2016, the mobile industry became the first sector in the world to commit to delivery of the SDGs and is increasing its contribution against all 17 Goals year-on-year1.

     

    Mobile-enabled financial services (‘mobile money’) is a key enabler of digital and financial inclusion, and directly contributes to 13 of the 17 Goals. Mobile money positively impacts the SDGs in several ways, for example, by providing financial services to individuals and small businesses that would otherwise be financially excluded; enabling access to electricity, water and sanitation (e.g. via mobile pay-as-you-go solutions); by facilitating access to low-cost remittances; by providing means for parents to pay school fees; and by facilitating cash transfers during humanitarian crises, emergencies and disasters. The total number of mobile money accounts stood at almost 700 million at the end of 20172.

     

    As part of its commitment to ensuring a secure and trusted mobile money ecosystem, the GSMA runs a Mobile Money Certification scheme, which ensures that providers meet the highest standards with regards to issues such as protecting the rights of consumers3. The GSMA and its members have also made commitments to reducing the gender gap in financial inclusion through the Connected Women Commitment Initiative.

     

    About the GSMA

     

    The GSMA represents the interests of mobile operators worldwide, uniting more than 750 operators with over 350 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and internet companies, as well as organisations in adjacent industry sectors. The GSMA also produces industry-leading events such as Mobile World Congress, Mobile World Congress Shanghai, Mobile World Congress Americas and the Mobile 360 Series of conferences.

     

    For more information, please visit the GSMA corporate website at www.gsma.com. Follow the GSMA on Twitter: @GSMA

     

    1https://www.gsma.com/newsroom/press-release/mobile-industry-accelerating-delivery-of-sustainable-development-goals/

     

    2https://www.gsma.com/newsroom/press-release/latest-gsma-report-highlights-success-mobile-money-690-million-accounts-worldwide/

     

    3https://www.gsma.com/newsroom/press-release/gsma-launches-global-mobile-money-certification-scheme/

     

     

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    Business Wire India

    NRI Income Tax Hotline
    NRI Income Tax Hotline

    EZTax.in, announced today, that the company has launched its NRI Income Tax Hotline service to help growing Non-Resident India (NRI) population who are working abroad, and foreigners who are working in India. Through this hotline service, the company is expected to get close to NRIs and help them in achieving tax planning, saving, and overall tax compliance in India, in addition to filing their taxes.

    The study says NRI Tax Compliance growth is not in pace with the IT Filing growth that India saw for the past two years, it's mainly due to lack of understanding in changes to tax act in India.

    Suneel Dasari, CEO @ EZTax.in, said, "We are helping both resident Indians, and NRIs in income tax filing for last two years, a growing segment of our business. But it’s vital to have a year-round tax compliance for NRIs as the Tax year differ in abroad, and the clients are increasingly diversifying their portfolios beyond traditional real-estate in to businesses, and currencies. NRI Income Tax Hotline is a natural extension to serve this population on their concerns."
     
    How to use the Hotline Service?

    NRIs who are in abroad or visiting India this festive season can contact our helpline number @ +91 7288 900 900 or WhatsApp their query to get help.

    Any questions or concern on Tax exposure related to, Double Taxation Avoidance Agreement (DTAA), Tax Residency Certificate (TRC), NRE, NRO, FCNR, sale of Property by NRI, foreign tax credit, Overseas citizen of India (OCI), Person of Indian Origin (PIO), ESOPs, RSUs, foreign assets under FEMA, Seafarers, Foreigners working, living in India.

    Benefits of using Hotline?

    NRI Expert help is available thru Hotline with its phone or WhatsApp feature @ +91 7288 900 900 from 9:00-7: 30 PM IST. For offline communication, one may use support@eztax.in email ID. The advice is 100% FREE.
     
    NRI Income Tax Help Line URL: https://eztax.in/nri-tax-helpcenterAbout EZTax.in

    EZTax.in from MYD Labs Private Limited, is a DIPP approved Startup, an Innovative, Next generation, Fast growing, Cloud enabled Tax Compliance Provider through both Online Tax Software, and Expert Tax Services covering Income Tax, TDS, GST, Accounting, Registrations. EZTax.in aims to make tax compliance easier, quicker, affordable through innovation to help millions of Indian Tax Payers irrespective of their income levels, and/or tax complexity. Today, with its India's 1st AI enabled GST ready Accounting Software, helping Small, Medium Business in India to be GST compliant, efficient, and productive.

    EZTax.in is first live on Mar 2017, now offering Income Tax Filing EZTax.in, GST Accounting EZTax.in GST, Virtual Accounting Services, Self Service TDS Filing EZTax.in TDS, Tax Saving Products, and Company Registrations from EZFilings.in To learn more, or file your IT Return in just few minutes for FREE or get Expert Tax Help, visit EZTax.in or follow @eztaxindia

    EZTax.in Home Page: https://eztax.in
    Income Tax & GST Apps: https://eztax.in/apps
    Press Material @ https://eztax.in/press-coverage#media-kit

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    Business Wire IndiaACCESS Development Services and ACCESS–ASSIST will be hosting its 15th Inclusive Finance India Summit on 11th and 12th December, 2018 at The Ashok Hotel, New Delhi. The Summit will seek to build consensus on strategies and help in building a unified vision for achieving universal financial Inclusion in India. The Summit is co-hosted by NITI Aayog.
     
    Divided into 19 sessions, the two-day summit will bring together 100 thought leaders from across the world to discuss, deliberate and debate on the evolution of financial inclusion in the country and various trends and challenges. Key session themes include Gains and Pains of Financial Inclusion, Performance of the New Banks established Addressing the Gender gap in Financial Inclusion: Recommendations for Policy and Practice, SHG Bank Linkage Model: Scaling up Linkages to Livelihoods, Approaches for Micro and Small Enterprise Financing: Are these Inclusive Enough? among others.
     
    Speaking about organizing the 15th edition of the summit, Mr. Vipin Sharma, CEO, ACCESS Development Services, said, “A Multitude of Government Initiatives and programmes, strengthened financial services architecture, technology integration and the emergence of new age players have all come together to provide an accelerated boost to financial inclusion in the country. The Summit as always delves deeply into all the issues and challenges and makes key recommendations for bringing true and tangible benefits from financial inclusion initiatives.”
     
    The Summit will also witness the launch of Inclusive Finance India Report 2018, which will track the advancement of financial inclusion in all its dimensions over the last one year.
     
    The Summit is expected to feature eminent speakers like Shri Suresh Prabhu, Hon’ble Minister of Commerce & Industry, Government of India; Shri Amitabh Kant, Chief Executive Officer, NITI Aayog; U S Paliwal, Former, Executive Director, Reserve Bank of India; Shri. R M Mishra, Additional Secretary and Development Commissioner, Ministry of MSME; C S Ghosh, MD & CEO, Bandhan; Bhushan Kumar Sinha, JS, DFS, Ministry of Finance; Samit Ghosh, MD & CEO, Ujjivan Small Finance Bank; Surendra Rosha, CEO, HSBC India; G R Chintala, CGM, Department of Refinance, NABARD; Yaduvendra Mathur, Add Secretary, Knowledge & Innovation, NITI Aayog; Dr Arun Kumar Panda, Secretary, Ministry of Micro, Small and Medium Enterprrise*; Porush Singh, Country Corporate Officer, India and Division President, South Asia, Mastercard; P K Gupta, MD (Retail & Digital Banking), State Bank of India; Suresh Sethi, CEO, India Post Payment Bank; Vijay Chugh, Consultant, World Bank.
    About ACCESS Development Services

    ACCESS is a national Think Tank that works on ecosystem strengthening for advancing financial inclusion in India. With increased attention on the overwhelming challenges in financial inclusion in the last one decade both globally and within India; the Summit has become an important policy influencing and experience sharing platform on financial inclusion in all its aspects. The Inclusive Finance India Summit seeks to support and advance universal financial inclusion in India and help in attaining true and tangible outcomes.

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    Business Wire India

    • Significant Milestone in Proposed Acquisition of Shire
    • Completes Intended Refinancing Program for Takeda’s Bridge Credit Agreement
    • Supports Takeda’s Commitment to Maintain Investment Grade Credit Rating Post-Closing
    • Bolsters Takeda’s Commitment to Accelerate its Transformation into a Global, Values-based, R&D-driven Biopharmaceutical Leader Headquartered in Japan

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

     

    Takeda Pharmaceutical Company Limited (TSE:4502) (the “Company or “Takeda”) announces that it has today, December 3, 2018 (London time), entered into a Loan Agreement with the Japan Bank for International Cooperation ( “JBIC”) for an aggregate principal amount of up to 3,700,000,000 U.S. dollars (the “JBIC Loan”). The JBIC Loan will finance a portion of the funds necessary for the acquisition of Shire plc (“Shire”) (the “Acquisition”) and reduce commitments under the 364-Day Bridge Credit Agreement entered into in connection with the Acquisition on May 8, 2018 (as amended on June 8, 2018 and October 26, 2018) (the “Bridge Credit Agreement”).

     

    “We are pleased to have secured this loan from JBIC, an organization which promotes the maintenance and strengthening of the international competitiveness of Japanese industries,” said Costa Saroukos, Chief Financial Officer of Takeda. “This marks the completion of the intended refinancing program for our bridge facility at an overall blended interest rate across the various components of the refinancing that is highly satisfactory, which we believe supports our intention to maintain our well-established dividend policy and investment grade credit rating. We think that JBIC’s participation in the financing of the Acquisition further bolsters our commitment to accelerate our transformation into a global biopharmaceutical leader headquartered in Japan.

     

    In accordance with Rule 26 of the City Code on Takeovers and Mergers, a copy of the JBIC Loan will be published on Takeda's website and will be available to view at www.takeda.com/investors/offer-for-shire by no later than 12 noon (London time) on the business day following the date of this announcement. Please note that the Acquisition remains subject to certain conditions, including approval by the shareholders of both companies.

     

    1.Details of the JBIC Loan

     
    (a) Borrower   Takeda Pharmaceutical Company Limited  
    (b) Lender   Japan Bank for International Cooperation  
    (c) Execution date of agreement   December 3, 2018  
    (d) Total borrowing limit   3,700,000,000 U.S. dollars  
    (e) Interest rate   LIBOR rate plus an applicable margin  
    (f) Use of proceeds   Payment of a portion of the Acquisition cash consideration and related fees, costs and expenses incurred by Takeda  

    2.Impact on the financial results for the fiscal year ending March 2019
    Upon the execution of the JBIC Loan, the commitments under the Bridge Credit Agreement will be reduced by 3,700,000,000 U.S. dollars. We will announce the impact of the JBIC Loan on our business performance promptly after we estimate it.

     

    About Takeda Pharmaceutical Company
    Takeda Pharmaceutical Company Limited (TSE: 4502) is a global, research and development-driven pharmaceutical company committed to bringing better health and a brighter future to patients by translating science into life-changing medicines. Takeda focuses its R&D efforts on oncology, gastroenterology and neuroscience therapeutic areas plus vaccines. Takeda conducts R&D both internally and with partners to stay at the leading edge of innovation. Innovative products, especially in oncology and gastroenterology, as well as Takeda's presence in emerging markets, are currently fueling the growth of Takeda. Approximately 30,000 Takeda employees are committed to improving quality of life for patients, working with Takeda's partners in health care in more than 70 countries. For more information, visit https://www.takeda.com/newsroom/.

     

    Important Notice
    This announcement is not intended to, and does not, constitute, represent or form part of any offer, invitation or solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise.

     

    The distribution of this announcement in jurisdictions outside the United Kingdom or Japan may be restricted by law or regulation and therefore any person who comes into possession of this announcement should inform themselves about, and comply with, such restrictions. Any failure to comply with such restrictions may constitute a violation of the securities laws or regulations of any such relevant jurisdiction.

     

    Publication on Website
    In accordance with Rule 26.1 of the Code, a copy of this announcement will be made available (subject to certain restrictions relating to persons resident in restricted jurisdictions) on Takeda's website at www.takeda.com/investors/offer-for-shire by no later than 12 noon (London time) on the business day following the date of this announcement. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.

     

    Disclosure requirements of the Code
    Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

     

    Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.

     

    If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

     

    Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

     

    Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.

     

    ###

     

     

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    Business Wire India

    Dr. K. V. Srinivasan - Chairman of TEXPROCIL
    Dr. K. V. Srinivasan - Chairman of TEXPROCIL

    During the current year period April–September 2018, the exports of cotton textiles (Yarns, Fabrics, Made-up and Raw cotton) from India reported a growth of 26.81% reaching a level of USD 6.23 billion, stated Shri Ujwal Lahoti, Chairman of The Cotton Textiles Export Promotion Council (TEXPROCIL) at the 64th Annual General Meeting of the Council held on 29th of November 2018.

    Shri Lahoti further stated that during this period (January-December 2017), India exported cotton textile products worth USD 10.82 billion reporting a growth of 3.54% over the previous year. Cotton made-ups (USD 5.26 billion) dominated the Indian cotton textiles basket with a share of 48.61%, followed by cotton yarns (USD 3.45 billion) achieving a share of 31.88% and cotton fabrics (USD 2.11 billion) recording a share of 19.51%.

    GST - 

    Texprocil Chairman stated that there are some areas in GST, which need urgent attention of the policymakers. These are as follows:

    • Refund of IGST on exports should be delinked from monthly returns (GSTR-1 & GSTR-3B). 
    • IGST refund should be given to exporters availing deemed exports benefit on domestic purchase under Advance Authorization and 100% EOU.
    • Refund of Unutilized Input Tax Credit (Transitional Credits) should be allowed when goods are exported under LUT.
    • Merchant exporters availing of benefit of concessional GST rate on purchase of export goods should be allowed IGST refund on exports.
    • GST Commissionerates should strictly follow the guidelines issued by CBIC for a refund of Unutilized Input Tax Credit on exports under LUT/Bond.
    • Further, during July 1, 2017 to September 31, 2017 higher Drawback rates were allowed as a transitional measure subject to non-availment of ITC. However, many exporters erroneously availed of ITC and also higher rate of Drawback. As a result, they have not received IGST refund. Exporters subsequently, surrendered the difference between higher Drawback and lower Drawback. However, they are still waiting for IGST refund. The Chairman, TEXPROCIL urged the Govt to refund IGST to such exporters.

    Dr. K. V. Srinivasan appointed as Chairman of TEXPROCIL

    Dr. K.V. Srinivasan has been elected as Chairman of The Cotton Textile Export Promotion Council (TEXPROCIL) for the year 2018 – 2020 during 64th AGM of TEXPROCIL held on 29th November, 2019 at Mumbai.

    Dr. K. V. Srinivasan is the Managing Director of Sree Narasimha Textiles Pvt. Ltd., Premier Mills Pvt. Ltd. & Premier Fine Linens Pvt. Ltd.

    He earned his Doctorate from the University of Manchester. He is the vice president of International Textile Manufacturers Federation, Zurich (ITMF) from 2018. He is the Chairman of the South Indian Textile Research Association (SITRA), Coimbatore. He was also Chairman of the Southern India Mills Association, (SIMA), Coimbatore from 2007 to 2009. He was the Chairman of CII, Coimbatore Zone for 2015 – 16. Among other positions held is Trustee of Kasthuri Sreenivasan Trust, Coimbatore Golf Club Trust and PSG & Sons Charity Trust.


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    Business Wire India

    American International Group, Inc. (NYSE: AIG) announced today the appointment of Sachin N Shah as Chief Executive Officer of Asia Pacific, AIG General Insurance. In this role, Mr. Shah will report to Christopher Townsend, Chief Executive Officer of AIG General Insurance International, and will be based in Singapore.

     

    Mr. Shah’s appointment is effective end of December 2018, subject to regulatory approval. Most recently, Mr. Shah served as Chairman, President and CEO of MetLife Japan, a position he held since 2013.

     

    In making the appointment, Mr. Townsend commented: “I am pleased to welcome Sachin Shah to AIG as CEO of our Asia Pacific business. I look forward to working closely with Sachin to deliver innovation and value to our customers and distribution partners in this dynamic region.”

     

    Mr. Shah commented: “I’m delighted to be joining AIG and the International General Insurance management team at this exciting time in the Asia Pacific region. I look forward to working with AIG colleagues across the region to deliver on our growth ambitions in these fast-moving economies.”

     

    Earlier in his career, Mr. Shah spent five years leading MetLife’s international growth strategies, including overseeing the integration of the acquisition of Alico across more than 50 countries. Mr. Shah currently serves as the President of The American Chamber of Commerce in Japan.

     

    Notes to editors

     

    American International Group, Inc. (AIG) is a leading global insurance organization. Building on 100 years of experience, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement products, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange.

     

    Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.

     

    AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.

     

     

     

     

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