Fintech PR

Tata AIA introduces life insurance solutions in US$ for Non-Resident Indians

Published

2 weeks ago

September 3, 2024

tata-aia-introduces-life-insurance-solutions-in-us$-for-non-resident-indians

The company launches its branch, based at Gujarat International Finance Tech-City (GIFT City), India’s first International Financial Services Centre (IFSC)
NRI consumers can now purchase dollar denominated policies from the company’s website https://international.tataaia.com

AHMEDABAD, India, Sept. 3, 2024 /PRNewswire/ — Tata AIA Life Insurance Co. Ltd. (Tata AIA), one of India’s leading life insurers, has announced the launch of its offshore branch at Gujarat International Finance Tech-City (GIFT City), India’s first International Financial Services Centre (IFSC). The Branch will offer US dollar denominated life insurance products to Non-Resident Indians (NRIs), through its website https://international.tataaia.com.

Venky Iyer, Managing Director & Chief Executive Officer, Tata AIA, said, “The setting up of IFSC GIFT City is a remarkable step by the Government of India towards widening the scope of Indian financial services. It provides a great opportunity for insurers to provide foreign currency denominated products. We are delighted to introduce life insurance solutions for our NRI consumers, enabling them to secure their families and fulfill their aspirations.”

The Company will commence operations with a unique term offering USD denominated Life Protect Supreme, enabling policy benefits in US dollars. The Plan covers risks such as death, accident, disability, and critical illness, for up to 100 years of age. NRI Consumers can choose from five plan options to tailor their coverage according to their lifestyle, medical history, and occupation. The Plan options offer flexibility to include add-on benefits (Riders) such as accidental death benefit, critical illness cover, and waiver of premium on accidental total and permanent disability.

The Company also plans to introduce Unit Linked life insurance products soon, giving consumers the prospect to benefit from exciting investment opportunities in global equity markets.

About Tata AIA Life

Tata AIA Life Insurance Company Limited (Tata AIA) is a joint venture Company formed by Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata’s pre-eminent leadership position in India and AIA’s presence as the largest, independent listed pan-Asian life insurance group in the world, spanning 18 markets in the Asia Pacific region.

Tata AIA reported a total Premium Income of INR 25,692 crore for FY24, up 25% from FY23. The Company continues to rank among the Top 3 Private Insurers in Individual Weighted New Business Premium (IWNBP) with an IWNBP income of INR 7,413 crore. The Individual Death Claims Settlement ratio improved to 99.13%. The Company also achieved industry-leading Persistency performance (based on premiums), ranking #1 in four out of five cohorts.

About the Tata Group

Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, comprising 30 companies across ten verticals.

The group operates in more than 100 countries across six continents, with a mission ‘To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust’.

Tata Sons is the principal investment holding company and promoter of Tata companies. Sixty-six percent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation and art and culture.

In 2023-24, the revenue of Tata companies, taken together, was more than $165 billion. These companies collectively employ over 1 million people.

Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors. There are 26 publicly listed Tata enterprises with a combined market capitalisation of more than $365 billion as on March 31, 2024.

About AIA

AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR(1), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR(2), and a 49% joint venture in India. In addition, AIA has a 24.99% shareholding in China Post Life Insurance Co., Ltd.

The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$286 billion as of 31 December 2023.

AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 42 million individual policies and over 18 million participating members of group insurance schemes.

AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock codes “1299” for HKD counter and “81299” for RMB counter with American Depositary Receipts (Level 1) traded on the over-the-counter market under the ticker symbol “AAGIY”.

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Fintech PR

Itaú Private Partners with Addepar to Deliver a Comprehensive Global Investment Solution

Published

2 hours ago

September 19, 2024

CISION (PR Newswire)

Exclusive collaboration enhances wealth management services with cutting-edge data aggregation and performance reporting tools

NEW YORK, Sept. 19, 2024 /PRNewswire/ — Itaú Private, a leading provider of private banking services, has announced an exclusive partnership with Addepar, a global leader in technology and data solutions for investment professionals. This strategic collaboration grants Itaú Private exclusive access to Addepar’s comprehensive data aggregation and performance reporting platform in Brazil, enhancing the bank’s ability to deliver superior service and investment solutions to its advisors and clients.

Through this partnership, Itaú Private clients will gain access to powerful tools and detailed reports that provide insights into their global wealth—both onshore and offshore—including returns, transactions, historical data, and balances. These capabilities will enable a fully automated and personalized evaluation of each client’s unique financial interests and needs.

“The partnership with Addepar brings a new level of sophistication to the services we offer, allowing us to better align our solutions with each client’s distinct goals,” said Fernando Beyruti, Global Head of Itaú Private Bank. “This initiative also enables us to introduce an advisory model that evaluates clients’ total assets, deepening our relationships and reinforcing our commitment to client-centric services.”

Addepar serves a global client base, providing advanced financial technology solutions to investment professionals across more than 45 countries. The platform currently supports over $6 trillion in assets under management, offering robust data aggregation and performance reporting tools that empower clients to make better decisions and deliver more informed advice.

“We are excited to collaborate with a market leader like Itaú Private, enabling us to bring our advanced financial technology solutions to one of the most dynamic and innovative private banks in the world,” said Peter O’Brien, Global Head of Sales and Partnerships at Addepar. “Together, we are committed to empowering Itaú Private’s advisors with state-of-the-art tools that drive efficiency and deliver exceptional value to clients.”

About Addepar

Addepar is a global technology and data company that empowers investment professionals to deliver precise and informed guidance to their clients. Trusted by hundreds of thousands of users worldwide, Addepar’s platform aggregates portfolio, market, and client data for over $6 trillion in assets. The platform integrates with more than 100 software, data, and service partners, providing a comprehensive solution for a diverse range of firms and use cases. Addepar has a global presence, with offices in Silicon Valley, New York City, Salt Lake City, Chicago, London, Dublin, Edinburgh, and Pune.

About Itaú Private

Itaú Private is a market leader with approximately R$ 880 billion in allocated capital—R$660 billion onshore and R$162 billion offshore (as of March 2024)—and holds around 30% market share in its segment in Brazil, according to data from Anbima. With a team of around 800 employees, including 350 professionals across its international offices in the United States, Portugal, Switzerland, and the Bahamas. Miami is Itaú Private’s international hub that provides clients with wealth management and banking products and services, including portfolio management and personalized advice by experienced investment professionals. In Switzerland, the conglomerate has a bank, and in the Bahamas, a trust management company, which helps to serve clients who have to set up investment structures abroad.

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Fintech PR

Kroll Becomes Relativity Gold Provider Partner

Published

2 hours ago

September 19, 2024

CISION (PR Newswire)

Kroll expands Relativity partnership to deliver advanced data-led insights for compliance, investigations and across the litigation lifecycle

NEW YORK, Sept. 19, 2024 /PRNewswire/ — Kroll, the leading independent provider of global risk and financial advisory solutions, announced today that it has become a Relativity Gold Provider Partner for delivering exceptional client service to its RelativityOne user base.

This recognition underscores Kroll’s commitment to leveraging the capabilities of RelativityOne, Relativity’s SaaS product that manages large volumes of data and quickly identifies key issues during litigation and internal investigations. Kroll’s integrated approach and proficient use of RelativityOne globally provides clients improved accuracy and efficiency on complex investigations and data breaches, and as part of the diligence process for large corporate transactions.

“Reaching the Relativity Gold Partner status demonstrates our commitment to enhancing the discovery market and underlines the quality of service that we offer our clients on highly sensitive critical matters at a global scale,” said Dave Rogers, Managing Director, Cyber Risk at Kroll. “As we continue to invest and upskill our team, our clients will benefit from even deeper expertise, insights and speed.”

A Relativity partner for over a decade with more than 40 Relativity certifications, Kroll notably achieved Contract Review and Cybersecurity competencies as part of its transition to Relativity Gold Provider Partner status.

The Relativity Gold Provider Partner tier is part of the Relativity Partner Program and recognizes organizations that have reached a high bar for experience, customer satisfaction, training and certifications. Provider Partners deliver tailored solutions to clients through partner-licensed deployment of Relativity software and support customers in their use of Relativity solutions.

“Kroll’s new status as a Relativity Gold Provider Partner is a clear reflection of their dedication to fulfilling the vast litigation, privacy and investigation needs of their clients,” said Laurie Usewicz, Chief Partner Officer at Relativity. “The Kroll team has earned this distinction for delivering high-quality, customized support through their use of Relativity solutions.”

For more information on Kroll’s Cyber Risk business, please click here.

About Kroll
As the leading independent provider of risk and financial advisory solutions, Kroll leverages our unique insights, data and technology to help clients stay ahead of complex demands. Kroll’s team of more than 6,500 professionals worldwide continues the firm’s nearly 100-year history of trusted expertise spanning risk, governance, transactions and valuation. Our advanced solutions and intelligence provide clients the foresight they need to create an enduring competitive advantage. At Kroll, our values define who we are and how we partner with clients and communities. Learn more at kroll.com.

About Relativity
Relativity makes software to help users organize data, discover the truth and act on it. Its SaaS product, RelativityOne, manages large volumes of data and quickly identifies key issues during litigation and internal investigations. Relativity has more than 300,000 users in approximately 40 countries serving thousands of organizations globally primarily in legal, financial services and government sectors, including the U.S. Department of Justice and 198 of the Am Law 200. Please contact Relativity at [email protected] or visit www.relativity.com for more information.

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Fintech PR

The Official Opening of Nobu Bangkok at ‘EA’ Rooftop at The Empire, the Announcement of Nobu Residences Bangkok, and the Groundbreaking of The Plaza Athénée Nobu Hotel and Spa Bangkok Were Celebrated with a Special Sake Ceremony

Published

2 hours ago

September 19, 2024

CISION (PR Newswire)

the-official-opening-of-nobu-bangkok-at-‘ea’-rooftop-at-the-empire,-the-announcement-of-nobu-residences-bangkok,-and-the-groundbreaking-of-the-plaza-athenee-nobu-hotel-and-spa-bangkok-were-celebrated-with-a-special-sake-ceremony

NEW YORK, Sept. 19, 2024 /PRNewswire/ — Nobu Bangkok together with Thailand’s leading integrated lifestyle real-estate group Asset World Corporation (AWC), celebrated its grand opening with a sake ceremony, symbolizing good fortune and the beginning of this exciting new chapter. Located on the 57th and 58th floors and rooftop of The Empire at the heart of Bangkok’s CBD, Nobu Bangkok delivers an extraordinary dining experience, blending the luxurious aesthetics of Thai and Japanese design. Conceptualized by the world-renowned Rockwell Group, the restaurant’s design incorporates intricate carvings and golden hues inspired by Thai temples, juxtaposed with the minimalist elegance of Japanese design, creating a truly unique culinary setting

In an ongoing collaboration with Asset World Corporation, luxury lifestyle brand Nobu Hospitality is proud to announce its first service residential project in Thailand—Nobu Residences Bangkok. This exciting development follows the announcements of Nobu Hotel Bangkok and The Plaza Athénée Nobu Hotel and Spa Bangkok, as well as the official opening of Nobu Bangkok at The Empire. Together, these ventures reinforce Nobu’s expanding presence in the city. Nobu Residences Bangkok will feature 60 exclusive units, available as part of the hotel’s inventory, rather than for individual sale.

Strategically located near the Chao Phraya River, Nobu Residences Bangkok offers unparalleled access to the best the city has to offer. Available for both short and long-term stays, residents will enjoy world-class amenities, including 24/7 concierge service. Residents can also access the hotel’s premium facilities, such as the Nobu Restaurant, a rooftop bar lounge boasting panoramic views of Bangkok’s skyline, a state-of-the-art fitness center, and an exclusive residents’ lounge. The residences are designed with Nobu’s signature attention to detail, blending purposeful design with elevated living.

Adding to the significance of the day, a groundbreaking ceremony was held for The Plaza Athénée Nobu Hotel and Spa Bangkok at its future location, the East Asiatic Heritage Site. This iconic development will be situated in the historic East Asiatic Company (EAC) building, located on the banks of the Chao Phraya River in Bangkok. The building, dating back to 1884, was founded by Danish mariner and entrepreneur Captain Hans Niels Andersen. The Plaza Athénée Nobu Hotel and Spa Bangkok will be twinned with the Plaza Athénée Nobu Hotel & Spa New York, which is currently undergoing renovations to its 145 rooms. Located on 64th Street and Park Avenue in the Upper East Side, New York, this area is renowned for its proximity to Central Park, museums, consulates, and luxury shopping.

Wallapa Traisorat, CEO and President of Asset World Corporation (AWC) commented, “We really appreciate the friendship and partnership we share with the Nobu family and AWC. The celebration of the grand opening of Nobu Bangkok at ‘EA’ Rooftop at The Empire, the new landmark destination of Thailand, brings great happiness to both Thai and international guests to enjoy contemporary Japanese cuisine crafted by legendary Chef Nobu in a spectacular three-story venue, including the rooftop level with breathtaking views of Bangkok. It reinforces our commitment to making Bangkok a sustainable global destination for world-class food, beverage, and lifestyle experiences.

Additionally, AWC is thrilled to deepen our long-term partnership with Nobu Hospitality through the launch of Nobu Hotel Bangkok, the first Nobu hotel with a residential concept in Thailand. Located near the Chao Phraya River, this development offers guests unparalleled luxury, featuring world-class amenities and services. The groundbreaking ceremony for The Plaza Athénée Nobu Hotel and Spa Bangkok at the historic East Asiatic Company building also marks a momentous occasion in our shared journey to create iconic properties that redefine luxury living and enhance Bangkok’s reputation as a premier global destination.”

Trevor Horwell, CEO of Nobu Hospitality, commented, “We are thrilled to expand our partnership with Asset World Corporation and introduce Nobu Residences to Bangkok. With its prime location near the Chao Phraya River, this development offers residents an exceptional lifestyle experience in one of the world’s most dynamic cities. We are excited to operate all elements of the Nobu brand—residences, hotels, and restaurants—in this vibrant market.”