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Archive for July 17th, 2013

Marsh and Allianz Global Corporate & Specialty Announce Major Claim Promise

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Extends Major Claim Promise Concept Worldwide to Include Marine Losses

SINGAPORE, July 17, 2013 /PRNewswire/ — Allianz Global Corporate & Specialty (AGCS) and Marsh today announced the launch of the AGCS/Marsh Major Claim Promise, committing to provide rapid access to working funds for their joint clients in the event of a major claim. As well as covering major property, construction and engineering losses worldwide, the AGCS/Marsh Major Claim Promise is the first of its kind to cover first-party marine claims.

Under the terms of the AGCS/Marsh Major Claim Promise, in the event of a major claim — typically in excess of US$3 million — where AGCS is either the leader or 100% carrier, AGCS will confirm coverage under the policy as quickly as reasonably possible. Once coverage is confirmed, AGCS promises to provide the policyholder with immediate working funds of 50% of their share of the agreed estimate for property damage/repairs and clean-up costs, within seven days. The AGCS/Marsh Major Claim Promise excludes marine liability claims including third-party claims arising out of collisions under Hull & Machinery policies.

David Pigot, Chairman of Marsh’s Global Claims Practice, commented: “The concept of the Major Claim Promise centers on the belief that a lengthy adjustment process is not necessary for immediate relief in the event of a major loss. This market-leading concept is sure to make a positive impact in assisting Marsh’s clients recover from major losses globally.

“The extension of the Major Claim Promise into the global marine sector is a significant industry development in delivering claims certainty to Marsh’s clients. With AGCS, Marsh’s marine clients can also now benefit from the reassurance of a swift recovery in the event of a major first-party loss,” Mr. Pigot said.

Alexander Mack, AGCS’s Global Head of Claims, added: “Service in the event of a claim is the true test of our business. This agreement ensures that our clients get what they need when it really counts: fast confirmation of cover with immediate working funds when a major loss occurs.”

About Marsh

Marsh, a global leader in insurance broking and risk management, teams with its clients to define, design, and deliver innovative industry-specific solutions that help them protect their future and thrive. It has approximately 26,000 colleagues who collaborate to provide advice and transactional capabilities to clients in over 100 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy, and human capital. With over 53,000 employees worldwide and annual revenue exceeding US$11 billion, Marsh & McLennan Companies is also the parent company of Guy Carpenter, a global leader in providing risk and reinsurance intermediary services; Mercer, a global leader in talent, health, retirement, and investment consulting; and Oliver Wyman, a global leader in management consulting. Follow Marsh on Twitter @Marsh_Inc.

About Allianz Global Corporate & Specialty

Allianz Global Corporate & Specialty (AGCS) is Allianz SE’s dedicated brand for corporate and specialty insurance customers. AGCS (consisting of Allianz Global Corporate & Specialty AG and certain affiliated companies operating under the AGCS brand) provides insurance and risk management consultancy across the whole spectrum of marine, aviation and corporate business, including Energy, Engineering, Financial Lines (incl. D&O), Liability and Property insurance, and International Insurance Programs.

Worldwide, AGCS operates in 27 countries and in more than 160 countries through the Allianz Group network and through network partners. It employs more than 3,500 people and provides insurance solutions to more than half of the Fortune Global 500 companies, writing a total of EUR5.3 billion gross premium worldwide annually (2012).

More information about Allianz Global Corporate & Specialty AG can be found at www.agcs.allianz.com

Source: Marsh; Allianz Global Corporate & Specialty

Related stocks: NYSE:MMC

Written by asiafreshnews

July 17, 2013 at 4:49 pm

Zecotek and Hamamatsu Photonics (Japan) Sign Joint Collaboration and Commercialization Agreement

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SINGAPORE, July 16, 2013 /PRNewswire/ — Zecotek Photonics Inc. (TSX-V: ZMS; OTCPK: ZMSPF; Frankfurt: W1I), a developer of leading-edge photonics technologies for medical, industrial and scientific markets, today announced that its wholly owned subsidiary Zecotek Imaging Systems Pte. Ltd. has signed a joint collaboration partnership agreement with Hamamatsu Photonics (Tokyo: 6965) of Japan to commercialize existing imaging technologies and to collaborate on the upgrade and manufacture of photo detectors, integrated detector modules (IDM) and associated electronics and data acquisition modules for the imaging markets at large. With approximately US$1 billion of annual sales Hamamatsu is the world’s leading supplier of optoelectronics components including photo multiplier tubes and photo-diodes used in positron emission tomography (PET) medical scanners, the European Organization for Nuclear Research (CERN) projects and other industrial and scientific applications.

“This agreement represents a pivotal and historic event for Zecotek. With Hamamatsu’s strong technological, manufacturing and commercial expertise, our two companies will have the capacity to provide substantial value to the medical imaging and high energy physics industries,” said Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek Photonics Inc. “Hamamatsu is the world leading developer and supplier of optoelectronics components to PET (Positron Emission Tomography) medical scanner OEM’s and manufacturers, to the bio-medical industries, as well as to CERN with whom they have a very close and long term relationship. By combining our efforts, we can accelerate the commercialization of Zecotek’s imaging technologies for the medical, industrial and research applications. I have full confidence in the ability of Hamamatsu’s management and technical team to create key value in this very welcomed relationship.”

“We are very pleased to join forces and provide added value to Zecotek’s imaging technologies,” said Mr. Koei Yamamoto General Managing Director, Hamamatsu Photonics. “We will use our well established R&D, technological and manufacturing expertise to strengthen Zecotek’s existing technological results and products. We believe this to be a powerful and symbiotic relationship.”

The agreement combines the strengths of both organizations into a collaborative program, whereby Zecotek’s patented and patent pending imaging technologies can benefit from the technological expertise and marketing capabilities of Hamamatsu. Hamamatsu will take over the manufacturing and marketing of most of Zecotek’s proprietary imaging technologies, including the commercialization of LFS crystals, solid-state MAPD photo detectors and any other photo-detector variants innovated by Zecotek. Hamamatsu becomes the exclusive sales channel for Zecotek’ patented protected LFS scintillation crystal and future generations of the scintillation material. Hamamatsu will take the lead on the technological enhancement, large-scale manufacturing and marketing of all Zecotek’s imaging technologies.

Zecotek and Hamamatsu will establish a joint program to improve existing versions of photo-detectors and imaging modules, for immediate commercialization and develop new innovative ones for future markets. Both parties will retain full ownership to all their respective patents and intellectual property brought into the collaboration. The manufacturing and commercialization of existing and new technologies will be performed by Hamamatsu.

Zecotek Imaging Systems has research laboratory facilities in Singapore and Russia. The market adoption of its imaging technologies is advancing and the Zecotek wholly owned subsidiary has established close working partnerships with the European Organization for Nuclear Research (CERN) in Switzerland, NuCare Medical Systems in South Korea and University of Washington in Seattle.

Hamamatsu Photonics is a world-leading developer and manufacturer of opto-electronic components and systems and employs over 4000 staff worldwide. For more than 50 years it has been bringing innovative, state-of-the art optoelectronic components and systems to the global market. With production facilities, business locations and associated companies throughout Asia, Europe and North America, it is a world-leading manufacturer of products that are designed to cover the entire optical spectrum and are the optimum solution for a wide variety of applications such as analytical instruments, medical diagnostics, biotechnology, consumer electronics and industrial control.

About Hamamatsu Photonics K.K.
Hamamatsu Photonics K.K. (Japan) is a leading manufacturer of devices for the generation and measurement of infrared, visible, and ultraviolet light. These devices include photomultiplier tubes, scientific light sources, opto-semiconductors, cameras, and specialized imaging systems. Hamamatsu Photonics is dedicated to the advancement of photonics through extensive research. This corporate philosophy results in state-of-the-art products which are used throughout the world in scientific, industrial, and commercial applications.

About Zecotek
Zecotek Photonics Inc (TSX-V: ZMS; Frankfurt: W1I) is a photonics technology company developing high-performance scintillation crystals, photo detectors, positron emission tomography scanning technologies, 3D auto-stereoscopic displays, and lasers for applications in medical, high-tech and industrial sectors. Founded in 2004, Zecotek operates three divisions: Imaging Systems, Laser Systems and 3D Display Systems with labs located in Canada, Korea, Russia, Singapore and U.S.A. The management team is focused on building shareholder value by commercializing over 50 patented and patent pending novel photonic technologies directly and through strategic alliances and joint ventures with leading industry partners such as Hamamatsu Photonics (Japan), the European Organization for Nuclear Research (Switzerland), Beijing Opto-Electronics Technology Co. Ltd. (China), NuCare Medical Systems (South Korea), and National NanoFab Center (South Korea). For more information visit www.zecotek.com, follow @zecotek on Twitter and “like” us in Facebook atwww.facebook.com/zecotek.

This press release may contain forward-looking statements that are based on management’s expectations, estimates, projections and assumptions. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what may have been stated.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this news release. If you would like to receive news from Zecotek in the future please visit the corporate website atwww.zecotek.com.

For further information:

Zecotek Photonics Inc.
Michael Minder
T: +1 (604) 783-8291
ir@zecotek.com

Source: Zecotek Photonics Inc.

Written by asiafreshnews

July 17, 2013 at 11:33 am

Posted in All releases

CoreNet Global Index Predicts Upbeat Economic, Corporate Climates for Second Half of 2013

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New market entry, availability of capital, increasing flexibility among drivers

SHANGHAI, July 16, 2013 /PRNewswire/ — The global economic outlook is strong for the second half of 2013, while the prospects for corporate growth and expansion are also increasing, according to the views of corporate executives surveyed in June for the new CoreNet Global Confidence Index, developed in conjunction with Dr. Roy Black, Director of the Real Estate program at Emory University’s Goizueta Business School in Atlanta.

The index is a new macro-economic measure based on the viewpoints of corporate real estate (CRE) executives serving large, multinational companies from multiple industry sectors. The first index rating is 4.65, based on a scale of 7 with 7 representing an extremely optimistic environment. Professor Black, who led the design of the Confidence Index model, characterized its first outcome as “a classic case of corporate economic resiliency following the challenging overhang of 2009.”

According to the predictive survey, nearly two-thirds (62.5 percent) rated their outlook on the global economy for the coming six months as optimistic to very optimistic, compared to a year ago. Almost one-third (31.3 percent) were neutral on the question, with only incremental pessimism registered (4.2 percent).

By contrast, the World Gross Product measure of all economic growth globally shows a flat-line trend of +2.3 percent from last year to this year. It also projects an increase to +3.1 for 2014, making the CoreNet Global index trend a possible harbinger of future growth. In a similar way, a July 9 International Monetary Fund report cited by CNN characterized the global economy as “stuck in neutral.”

Still, executives in the CoreNet Global survey ascribed even higher confidence levels to the likelihood of their companies’ growth for the second half of 2013. A strong majority rated their confidence levels in the prospects for business expansion as optimistic (54.2 percent), very optimistic (14.6 percent), and extremely optimistic (4.2 percent).

The index methodology is informed quarterly by the direct polling of nearly 90 CoreNet Global Corporate Partners, comprised of an economically-diverse mix of multinational companies representing the following sectors: aircraft and aerospace; automotive; business services and consulting; consumer goods; distribution and logistics; education; energy; petroleum and mining; financial services; government; health care; hospitality and entertainment; insurance; life sciences and pharmaceuticals; manufacturing and industrial; media; real estate; retail; software; technology; telecommunications; transportation and utilities.

Corporate Partners manage real estate portfolios that typically range between 2-million square feet and 110-million square feet globally. The types of real estate managed are office space (84.8 percent); industrial (34.8 percent); laboratories (32.6 percent); research and development (32.6 percent); data centers (39.1 percent); retail (26.1 percent); and others including mixed use development (19.6 percent).

A list of CoreNet Global Corporate Partners is available via:
http://www.corenetglobal.org/Sponsorship/content.cfm?ItemNumber=12755

CoreNet Global (www.corenetglobal.org) is the world’s leading professional association for corporate real estate and workplace executives, service providers, and economic developers.

Contact:

Mario Qian
+86.136.8194.9658
mqian@corenetglobal.org

Source: CoreNet Global

Written by asiafreshnews

July 17, 2013 at 10:31 am

Cross-strait Cooperation to Promote the IEQ Show

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SHANGHAI, July 15, 2013 /PRNewswire/ — The organizers of the Shanghai International Indoor Environment Quality Show 2014, to be held concurrently with the China Clean Expo 2014, Shanghai UBM Sinoexpo Int’l Exhibition Co., Ltd and the Shanghai Indoor Contamination Control Industry Association, were invited to visit the Indoor Air Quality Purification Conference and Exhibition organized by the University of Taiwan Science and Technology from June 13-19, 2013.

Promoting the IEQ show in Taiwan
Promoting the IEQ show in Taiwan
The visit proved to be a fruitful one. The delegates networked with local Taiwanese associations and enterprises, analyzed the advantages and disadvantages of the industry and assessed the present situation before sharing their own opinions with each other. Furthermore, the delegates provided details about the Shanghai International Indoor Environment Quality Show 2014 and China Clean Expo 2014 to local industry players. The local enterprises were impressed by the Shanghai International Indoor Environment Quality Show held in April this year. Nevertheless, the delegates were the only exhibitors from mainland China at the event. Many Taiwanese companies showed great interest in the Chinese market and are seeking more business opportunities here.

The delegates also visited the Taiwan Indoor Environment Quality Management Association. A joint meeting was held and they exchanged their opinions on the industries in Taiwan and mainland China respectively. The Taiwan Indoor Environment Quality Management Association unveiled the great potential of the indoor environment quality industry and made it clear that this is a great time to enter and capitalize on their advantages as Taiwanese enterprises.

The organizers have arrived at a strategic cooperation agreement with the Taiwan Indoor Environment Quality Management Association. They will take an active part in the exhibitions, with a conference being held to exchange information. As for the Shanghai International Indoor Environment Quality Show 2014 (concurrently held with China Clean Expo 2014), a Taiwanese Pavilion will be created.

For more information please visit: http://www.ieqexpo.com/http://www.chinacleanexpo.com/

Exhibition contact: Jack Liu (+ 86 21 3339 2075; Jack.liu@ubmsinoexpo.com)
Media Contact: Crystal Huo (+ 86 21 3339 2072; Crystal.huo@ubmsinoexpo.com)

Source: UBM Sinoexpo

Written by asiafreshnews

July 17, 2013 at 9:59 am