Home / Business & Finance / Leucadia Asset Management deepens Asia foothold via strategic relationship with Dymon Asia Capital

Leucadia Asset Management deepens Asia foothold via strategic relationship with Dymon Asia Capital

KUALA LUMPUR,Leucadia Asset Management, a division of Jefferies Financial Group Inc, has announced a strategic relationship with Dymon Asia Capital and an investment in the Dymon Asia Multi-Strategy Investment Fund.

Based in Singapore, Dymon Asia Capital is a leading Asia-focused alternative investment management firm, managing strategies across public and private markets globally.

According to a statement, this strategic relationship with Dymon Asia Capital will allow Leucadia Asset Management to further tap into the growth of the Asian market and deepen its foothold in Asia.

In connection with the transaction, Leucadia Asset Management will acquire an economic interest in certain of Dymon Asia Capital’s strategies.

The new fund will invest in Asian equities, currencies and bonds through 26 of Dymon Asia Capital’s portfolio managers.

In addition to being a cornerstone investor in this new fund, Leucadia Asset Management will provide certain services to Dymon Asia Capital.

The firm is led by Danny Yong, chief investment officer and a founding partner. He has over 24 years of experience trading FX, fixed income and index futures in Asia.

Dymon Asia Capital’s strong Asian presence, combined with Leucadia Asset Management’s wide distribution network in North America and Europe, make for a perfect match in this strategic relationship for the two firms from the East and the West, said Yong.

Source: BERNAMA (News Agency)


AM Best gives excellent ratings for New Zealand’s CLINZ

AM Best gives excellent ratings for New Zealand’s CLINZ

KUALA LUMPUR,Global credit rating agency, AM Best has affirmed the Financial Strength Rating of A (excellent) and the Long-Term Issuer Credit Rating of ‘a’ for Cigna Life Insurance New Zealand Limited (CLINZ) New Zealand.

The outlook of these Credit Ratings is stable, according to a statement.

These rating actions follow completion of a portfolio transfer on Jan 31, whereby CLINZ acquired 100 per cent of the assets and liabilities of OnePath Life (NZ) Limited (OPL).

Cigna Corporation (Cigna group) previously purchased OPL from ANZ Bank New Zealand Limited in November 2018. The recent portfolio transfer represents the final phase of the acquisition process, combining the business operations of CLINZ and OPL.

The ratings reflect CLINZ’s balance sheet strength, which AM Best categorised as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

CLINZ’s balance sheet strength is underpinned by its risk-adjusted capitalisation, which AM Best expects to remain at the strongest level over the medium term, as measured by Best’s Capital Adequacy Ratio.

The company has a track record of reporting positive underwriting and investment results, with operating performance metrics expected to remain at an adequate level over the medium term.

AM Best expects some near-term expenses to arise from integration and transaction costs emanating from the OPL transfer, over the medium term the increased scale of the combined businesses is expected to support lower expense ratios.

More details at www.ambest.com.

Source: BERNAMA (News Agency)

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