CM Life Sciences, Inc. (Nasdaq: CMLFU) (the Company) today announced that holders of the Companys units sold in its initial public offering may elect to separately trade the shares of Class A common stock and redeemable warrants included in its units commencing on or about October 26, 2020.
The shares of Class A common stock and warrants that are separated will trade on The Nasdaq Capital Market (Nasdaq) under the symbols CMLF and CMLFW, respectively. Those units not separated will continue to trade on Nasdaq under the symbol CMLFU. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.
Holders of the Companys units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Companys transfer agent, in order to separate such units into shares of Class A common stock and redeemable warrants.
Registration statements relating to these securities became effective on September 1, 2020. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering was made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained from Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone: 877-821-7388 or by email: [email protected].
About the Company
The Company is a blank check company formed for the purpose of effecting a business combination. The Company intends to focus its search for business combination targets in three separate areas of the life sciences industry that are often fragmented “ life sciences tools, synthetic biology and diagnostics. The Company, sponsored by affiliates of Casdin Capital, LLC and Corvex Management LP, is led by Chief Executive Officer Eli Casdin and Chairman Keith Meister.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute forward-looking statements, including with respect to the Companys search for an initial business combination. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Companys registration statement and final prospectus for the initial public offering filed with the U.S. Securities and Exchange Commission (the SEC). Copies are available on the SECs website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
CM Life Sciences, Inc.
Lu International partners with KASIKORNBANK to launch FinVest for retail investors in Thailand
The launch of Finvest, an online investment platform, signals Lu International’s continued efforts to expand its footprint across Southeast Asia via strategic partnership.
SINGAPORE – Media OutReach – 17 November 2020 – Lu International (Singapore) Financial Asset Exchange Pte. Ltd. (“Lu International”), a subsidiary of China’s leading technology-empowered personal financial services platform Lufax Holding, and KASIKORNBANK, leader in digital banking and one of Thailand’s largest banks, announced today the launch of FinVest, an online wealth management platform. The new digital investment platform is aimed to help retail investors in Thailand gain access to a full spectrum of onshore and offshore investment products at a low minimum investment amount through the extensive network and relationships brought by Lu International, and the local expertise offered by KASIKORNBANK.
From left to right: Mr. Kit Wong, CEO of Lu International (Singapore), Mr. Choladet Khemarattana, CEO and co-founder of Robowealth Mutual Fund Brokerage Securities Company Limited, and Mr. Patchara Samalapa, President of KASIKORNBANK
FinVest aims to provide personalised investment solutions for retail investors. The online investment platform that has been built in partnership between Lu International and KASIKORNBANK caters to digitally savvy investors, providing access to more than 600 funds from 15 Asset Management Companies in Thailand.
“Thailand is one of the fastest growing markets in Southeast Asia and continues to see rapid wealth growth and economic development,” said Greg Gibb, CEO of Lufax Holding. “Partnerships and the sharing of technology know-how are defining the financial industry across the region, making significant improvements to the quality of service and offerings to clients. Through the collective capabilities of Lu International and KASIKORNBANK, investors now have access to international investment opportunities that have previously only been available to a select few.”
Additionally, FinVest offers a curated client experience, including an enhanced design as well as user-friendly and mobile-friendly screen flows. In designing the mobile app, Lu International and KASIKORNBANK prioritise the needs of retail investors. These include the ability to make informed investment decisions and the access to relevant investment knowledge provided by Lu International and KASIKORNBANK in collaboration with Robowealth, a wealth-tech and investment specialist and investment solutions provider in Thailand. The ultimate goal of this collaboration is to make sure of the best investment journey to all investors.
Kit Wong, CEO of Lu International, commented, “Digital technology is rapidly changing the way investors use financial services. They are increasingly using digital channels to purchase financial products and invest. FinVest offers clients the convenience, efficiency, intelligence, and ease of use through a personalised online wealth management platform that will help Thailand and its economy stay at the forefront of the digital financial revolution taking place across the region.”
Mr. Patchara Samalapa, KASIKORNBANK President, said, “In 2020, Thailand’s total outstanding capital market value is worth around 44 trillion baht. Of this amount, investment in mutual funds totals 4.8 trillion baht or around 10 percent. Of late, the younger generation has shown increasing interest in mutual funds, preferring to conduct transactions via digital channels and seeking products related to Thai and foreign equity instruments. Moreover, open-architecture investment is growing every year. Development of the FinVest digital platform will help enhance investment potential for Thai retail investors, allowing them to directly invest in global mutual funds via FinVest”.
“FinVest marks a cooperative effort towards digital technology development; KASIKORNBANK, which has extensive digital banking expertise; Lu International — a Singapore-based company under Lufax Holding, which is an associate of Ping An Group — a large Chinese company with a team of world-class experts well-versed in investment technology; and Robowealth Mutual Fund Brokerage Securities Co., Ltd., an expert in wealth tech, ensuring that the FinVest platform is in alignment with the Thai capital market under the supervision of the Securities and Exchange Commission, Thailand. This cooperation also reinforces KASIKORNBANK’s status as a complete banking service provider, based on a combination of its own digital banking expertise and that of the world’s leading partners and fintech experts, to ensure that KASIKORNBANK is everywhere around you”.
FinVest seamlessly caters to local investors with round-the-clock digital access to comprehensive information about their accounts, market insights and intelligence relevant to their portfolio, while opening the door to premium onshore and offshore wealth management products with an approximate minimum investment amount of US$35 / THB1, 000 with no additional account opening or closing fees. The platform also adopts strict Know Your Product (KYP) and Know Your Customer (KYC) compliance procedures, alongside an Anti-Money Laundering (AML) and an anti-fraud system, to meet regulatory requirements.
Lu International continues to strengthen its network via strategic partnership in collaboration with local financial institutions leveraging its technology and industry know-how across Southeast Asia as part of its expansion to capitalise on wealth management digitization and growth opportunities for financial services in some of the world’s up and coming economies..
Finvest is available on Apple Store, Google Play Store and Huawei App Gallery. For more information, please visit www.finvest.co.th.
About Lufax Holding
Lufax Holding Ltd is a leading technology-empowered personal financial services platform in China. Lufax Holding Ltd primarily utilizes its customer-centric product offerings and offline-to-online channels to provide retail credit facilitation services to small business owners and salaried workers in China as well as tailor-made wealth management solutions to China’s rapidly growing middle class. The Company has implemented a unique, capital-light, hub-and-spoke business model combining purpose-built technology applications, extensive data, and financial services expertise to effectively facilitate the right products to the right customers.
About LU International
LU Global is the online wealth management platform operated by Lu International (Singapore) Financial Asset Exchange Pte Ltd (Co. Reg No 201702479G). Lu Global is a mobile investment and wealth management platform operated out of Singapore, licensed and regulated by MAS (Monetary Authority of Singapore). It offers 24/7 online access to a wide range of high quality investments, and offers investors the opportunity to invest easily with small investment amounts, and with low commitment. The customers have the ability to invest with maximum flexibility while still being able to benefit from superior returns.
Chubb Organizes Regional Day of Service in Asia Pacific
SINGAPORE – Media OutReach – 19 November 2020 – Chubb‘s annual Regional Day of Service in the Asia Pacific took place over the week of 2 – 6 November 2020, with employees in various countries and territories participating in community outreach projects.
In addition to our long-held focus on increasing educational opportunities for underprivileged children, outreach efforts this year were expanded to cater to the essential needs of vulnerable segments of communities impacted by the Covid-19 pandemic.
Creative community engagement in the face of Covid-19
The needs of communities and methods of engagement have changed as a result of the pandemic. Adapting to these changes, Chubb volunteers from both the general and life insurance operations developed innovative outreach programs designed for the needs of their respective communities.
Paul McNamee, Regional President for Chubb in Asia Pacific shared: “In challenging times such as these, there is greater impetus for Chubb and our employees to step up and help our local communities. For this year’s Regional Day of Service, our staff volunteers focused on initiatives which would have the greatest impact on their communities. Through innovative use of technology and continued collaboration with partners, we were able to successfully execute outreach activities while adhering to local health and safety guidelines across the region. We are proud of and inspired by our employees who have risen to the occasion and upheld the company’s strong tradition of giving back to our communities in the midst of a pandemic.”
Brad Bennett, Chief Operating Officer of Chubb Life added: “The Regional Day of Service is an important annual initiative that underscores Chubb’s commitment to giving back to the communities where we live, work and serve. By focusing our efforts on education for the disadvantaged, we hope to improve their access to education and drive a positive change for the next generation. We are proud to play our part in building a more successful society and a better world.”
Cross-section of Non-Profit Collaborations Reflect Chubb’s Cultural Diversity
Eleven markets took part this year in a range of volunteer projects, reflecting the company’s cultural diversity across the region. Participating markets included Australia, China, Hong Kong SAR, Indonesia, Korea, Malaysia, New Zealand, Philippines, Singapore, Taiwan, and Thailand.
Regional Day of Service activities included events such as an educational trip and building a community garden; virtual engagements like fund-raising campaigns and workshops using digital platforms; and the donation of scholarship grants, educational magazines, IT equipment and other necessities.
Regional Day of Service Highlights
For various reasons, Australia will mark the Regional Day of Service through community outreach activities from 9 Nov — 11 Dec with the participation of over 100 employee volunteers.
In Queensland, Chubb volunteers will be supporting Foodbank’s Christmas Hamper Packing, while in New South Wales, the Grosvenor and North Sydney office will be collecting toys and books as Christmas gifts for the Smith Family’s Toy & Book Appeal.
The Perth office will be helping the Perth Homeless Support Group prepare and distribute food to the homeless, and the South Australia team will be supporting Backpacks 4 SA Kids Inc by packing backpacks for children who have been removed from their homes, often in traumatic situations.
Staff volunteers conducted a presentation on environmental awareness for students of Puming Primary School in Shanghai and organized a quiz after the session. During the first week of December, employees will also be visiting the Chubb Hope School in Fengning, Hebei Province, where they will be presenting a donation of funds to the school and engaging with the students.
Hong Kong SAR
Thirty volunteers from Chubb’s general and life insurance operations in Hong Kong attended two workshops held by the St. James’ Settlement Jockey Club Upcycling Center, where they learned to use upcycled materials to make mask covers and cardholders. After the workshops, the finished items, together with souvenirs, were delivered to underprivileged children supported by St James Settlement.
In Indonesia, Chubb continued its support of the SOS Children’s Villages (SOS) by organizing a series of virtual workshops for approximately 190 children and 55 caregivers located in Cibubur (East Jakarta), Flores (East Nusa Tenggara) and Meulaboh (Aceh).
Over thirty staff volunteers produced educational material and conducted hands-on activities for the children. The virtual workshops covered topics ranging from environmental awareness to entrepreneurship and included interactive activities like building mini-volcanoes and tie-dying t-shirts. Caregivers also attended a workshop and sharing session on adolescent psychology, communication and sex education.
Last but not least, computer equipment and projectors were donated to support home-based learning at SOS in Jakarta/Bogor.
Chubb volunteers engaging with children from the SOS Children’s Villages
Due to Covid-19 restrictions in Korea, Chubb’s general and life insurance operations tapped on digital platforms to organize creative fund-raising campaigns in support of the Community Chest of Korea.
Using the company’s new healthcare app Chubb LifeBalance, employees donated points accumulated from managing their health through exercise, diet and the like. These points were then totaled up and consolidated into a monetary donation that was channeled to purchase toys and educational items. Over 100 employees participated, contributing a total of 957,030 points.
In addition, Chubb Life Insurance in Korea also conducted the Chubb Donation Challenge through Instagram, which provided matching donations for encouraging messages sent out to those affected by COVID-19 and tagged with specific hashtags.
Through these campaigns, Chubb provided 2,000 socially disadvantaged children in 30 facilities nationwide with educational items and toys purchased from small and medium-sized social enterprises.
Employee photo submitted via the Chubb LifeBalance app
Eighty Chubb employees participated in Malaysia’s Nature in Neighborhood Scavenger Hunt where they submitted photos of specified items like plants, insects, bicycles and recycle bins in their neighborhood.
For every complete submission, Chubb will be sponsoring one underprivileged child supported by Ti-Ratana Welfare Society, Yayasan Sunbeams Home to attend an online learning program conducted by Free Tree Society. The 60-90 minutes program will cover topics like plant propagation, composting, and the climate crisis as well as hands-on vegetable planting experience.
Volunteers from New Zealand worked with Kelmarna Community Gardens to promote a healthy community environment and sustainable living. Employees helped with a variety of tasks including creating a new community garden space, the removal of weeds, creating a new compost zone, refreshing the chicken coup, cleaning and renovating the community shop.
Chubb volunteers separating and replanting new seedlings at Kelmarna Community Gardens
Meanwhile in the Philippines, Chubb’s general insurance operation and Chubb Business Services collaborated to raise funds for Yapak Elementary School. Donations from 100 employees were used to procure equipment like computers and wi-fi devices, and other supplies to support online learning as schools continue education amidst the pandemic.
In Singapore, employees donated to a virtual fund-raising campaign to provide essential food items for needy families supported by Beyond Social Services (Beyond). Our intermediaries and distribution partners were also invited to support the campaign, which raised over S$9,000. Staff volunteers helped with the packing and distribution of essential food items to approximately 60 families.
Volunteers also worked with DBS Bank, Chubb’s strategic partner and a leading financial services group headquartered in Singapore, and Beyond to provide virtual and face-to-face financial literacy lessons for children from lower income families during the upcoming school holidays.
Chubb volunteers preparing to distribute essential food items to families in the Redhill neighborhood
Chubb Life Insurance in Taiwan collaborated with Global Views-Commonwealth Publishing Group on the monthly donation of educational magazines to 15 primary schools in remote locations for a whole year. Staff volunteers visited one of these schools, Cheng Bin Primary School in Keelung, where they interacted with the students and introduced them to the insurance industry.
Volunteers also helped to proof-read books before they are converted into audio books by the Taipei Parents’ Association for the Visually Impaired. A Christmas flea market will also be organized in December for staff to raise funds for the association.
In addition, Chubb’s general insurance operation organized a virtual fundraiser in support of Taipei Happy Mount, a facility that cares for the mentally challenged. Employees will be visiting the facility for a day, where they will hold a gingerbread house handicraft session for the children and help with the cleaning and maintenance of the grounds.
Continuing their “Say Yes To Less Plastic” campaign, Chubb Life Insurance in Thailand collaborated with the Teach for Thailand Foundation (TFT) and organized a virtual contest for students to submit ideas to reduce plastic usage in their schools.
Employees also raised funds through online auctions of pre-loved items to support green initiatives and prizes for the shortlisted teams.
Chubb’s general insurance operation organized a flea market to encourage staff to reduce, reuse and recycle. During the popular event, there were efforts to raise funds for the “Less Plastic” project, which recycles used plastic bottles into personal protective equipment (PPE) for medical staff.
In addition, an educational trip was organized for 100 secondary school students (grades 7 to 9) under the TFT network. They were accompanied by 100 Chubb volunteers on the visit to Khlong Khon Mangrove Forest Conservation Center, where they learned and participated in environmental and sustainability awareness activities.
Students from the TFT network were also invited to take part in an environmentally-themed drawing contest organized by Chubb where 25 students out of 200 won scholarship grants worth a total of 105,000 Baht.
Chubb volunteer working with a student to turn plastic bottles into new pencil boxes
Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 33,000 people worldwide. Additional information can be found at: chubb.com.
Chubb’s franchise in the Asia Pacific comprises an extensive network of operations serving Australia, China, Hong Kong SAR, Indonesia, Japan, Korea, Macau SAR, Malaysia, Myanmar, New Zealand, Philippines, Singapore, Taiwan, Thailand and Vietnam.
Allianz: Cyber crime brings expensive losses for companies, but internal failures most frequent cause of cyber claims
- AGCS analysis of more than 1,700 cyber claims: External events such as “DDoS” attacks result in the most costly cyber losses but internal incidents like human error or systems failure occur more often, albeit with a lower financial impact.
- Business interruption is the main cost driver of cyber claims. Inability to access data or services can have a significant impact on revenues, given growing reliance on online sales.
- Rise in ransomware attacks, the cost of larger data breaches and the Covid-19 working landscape present significant future cyber risks.
JOHANNESBURG/LONDON/MUNICH/NEW YORK/PARIS/SAO PAULO/SINGAPORE – Media OutReach – 19 November 2020 – External attacks on companies result in the most expensive cyber insurance losses but it is employee mistakes and technical problems that are the most frequent generator of claims by number, according to a new report from Allianz Global Corporate & Specialty (AGCS), Managing The Impact Of Increasing Interconnectivity — Trends In Cyber Risk. The study analyzes 1,736 cyber-related insurance claims worth EUR 660mn (US$ 770mn) involving AGCS and other insurers from 2015 to 2020.
“Losses from incidents such as distributed denial of service (DDoS) attacks or phishing and ransomware campaigns account for a significant majority of the value of cyber claims today,” says Catharina Richter, Global Head of the Allianz Cyber Center of Competence, which is embedded into AGCS. “But although cyber crime generates the headlines, everyday systems failures, IT outages and human error incidents can also cause problems for companies, even if their financial impact is not, on average as severe. Employers and employees must work together to raise awareness and increase cyber resilience.”
The number of cyber insurance claims AGCS has been notified of has steadily risen over the last few years, up from 77 in 2016, when cyber was a relatively new line of insurance, to 809 in 2019. In 2020, AGCS has already seen 770 claims in the first three quarters. This steady increase in claims has been driven, in part, by the growth of the global cyber insurance market which is currently estimated to be worth $7bn according to Munich Re. AGCS started offering cyber insurance in 2013 and, in 2019, generated more than EUR 100mn in gross written premium in this segment. At the same time the report also highlights that there has been a 70%+ increase in the average cost of cyber crime to an organization over five years to $13mn and a 60%+ increase in the average number of security breaches.
Losses resulting from external incidents, such as DDoS attacks or phishing and malware/ransomware campaigns, account for the majority of the value of claims analyzed (85%) according to the report, followed by malicious internal actions (9%) — which are infrequent but can be costly. Accidental internal incidents, such as employee errors while undertaking daily responsibilities, IT or platform outages, systems and software migration problems or loss of data account for over half of cyber claims analyzed by number (54%) but, often, the financial impact of these is limited compared with cyber crime. However, losses can quickly escalate in the case of more serious incidents.
Business interruption is the main cost driver behind cyber losses, accounting for around 60% of the value of all claims analyzed in the report, followed by costs involved with dealing with data breaches.
The cyber risk environment is not expected to become any easier in future, the report notes. Businesses and insurers are facing a number of challenges such as the prospect of more expensive business interruptions, the rising frequency of ransomware incidents, more costly consequences of larger data breaches given more robust regulation and litigation, as well as the impact from the playing out of political differences in cyber space through state-sponsored attacks. The impact of these trends is also the subject of a new AGCS podcast.
The huge rise in remote working due to the coronavirus pandemic is also an issue. Displaced workforces create new opportunities for cyber criminals to gain access to networks and sensitive information. Malware and ransomware incidents are already reported to have increased by more than a third since the start of 2020, while coronavirus-themed online scams and phishing campaigns about the pandemic continue. At the same time the potential impact from human error or technical failure incidents may also be heightened.
While exposures are rising, the Covid-19 outbreak cannot yet be said to be a direct cause of cyber-related claims. AGCS has seen the first few cyber claims that can be indirectly attributed to the Covid-19 landscape, including ransomware attacks which can be linked to the shift to more remote working. However, it’s too early to confirm a broader trend.
Ransomware threats surge
Already high in frequency, ransomware incidents are becoming more damaging, increasingly targeting large companies with sophisticated attacks and hefty extortion demands. There were nearly half a million ransomware incidents reported globally last year, costing organizations at least $6.3bn in ransom demands alone. Total costs associated with dealing with these incidents are estimated to be well in excess of $100bn.
“High-end hacking tools are more widely available driven by the growing ‘commercialization of cyber-hacks’. Increasingly, criminals are selling malware to other attackers who then target businesses demanding ransom payments,” says Marek Stanislawski, Global Cyber Underwriting Lead at AGCS. “However, extortion demands are just one part of the picture. Business interruption can bring the most severe losses — with downtimes becoming longer — while systems and data restoration costs can quickly escalate.”
Business interruption and digital supply chain vulnerability growing
“Whether due to ransomware, human error or a technical fault, the loss of critical systems or data can bring an organization to its knees in today’s digitalized economy,” says Joerg Ahrens, Global Head of Long-Tail Claims at AGCS. “The inability to access data for an extended period of time can have a significant impact on revenues — for example, if a company is unable to take orders. Similarly, if an online platform is unavailable due to a technical glitch or cyber event, it could bring large losses for companies that rely on it, particularly given today’s increasing reliance on online sales or digital supply chains.”
Data breaches and state-sponsored attacks
The cost of dealing with a large data breach is rising as IT systems and cyber events become more complex, and with the growth in cloud and third-party services. Data privacy regulation, which has recently been tightened in many countries, is also a key factor driving cost, as is growing third-party liability and the prospect of class action litigation. So-called mega data breaches (involving more than one million records) are more frequent and expensive, now costing $50mn on average, up 20% over 2019.
In addition, the impact of the increasing involvement of nation states in cyber-attacks is a growing concern. Major events like elections and Covid-19 present significant opportunities. During 2020 Google said it has had to block over 11,000 government-sponsored potential cyber-attacks per quarter. Recent years have seen critical infrastructure, such as ports and terminals and oil and gas installations hit by cyber-attacks and ransomware campaigns.
Prepare, practice and prevent
Preparation and training of employees can significantly reduce the consequences of a cyber event, especially in phishing and business email compromise schemes, which can often involve human error. It can also help mitigate ransomware attacks, although maintaining secure backups can limit damage. Cross-sector exchange and cooperation among companies — such as what has been established by the Charter of Trust — is also key when it comes to defying highly commercially-organized cyber crime, developing joint security standards and improving cyber resilience.
The Covid-19 landscape brings new challenges. With home-working widespread, security around access and authentication points is critical but organizations should also ensure there is sufficient network capacity as this can have a significant impact on lost income if there is an outage.
About Allianz Global Corporate & Specialty SE
Allianz Global Corporate & Specialty (AGCS) SE is a leading global corporate insurance carrier and a key business unit of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 10 dedicated lines of business.
Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses, and private individuals. Among them are not only the world’s largest consumer brands, tech companies and the global aviation and shipping industry, but also wineries, satellite operators or Hollywood film productions. They all look to AGCS for smart answers to their largest and most complex risks in a dynamic, multinational business environment and trust us to deliver an outstanding claims experience.
Worldwide, AGCS operates with its own teams in 32 countries and through the Allianz Group network and partners in over 200 countries and territories, employing over 4,450 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial ratings. In 2019, AGCS generated a total of €9.1 billion gross premium globally.
Cautionary Note Regarding Forward-Looking Statements
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words “may”, “will”, “should”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “potential”, or “continue” and similar expressions identify forward-looking statements.
Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Allianz Group’s core business and core markets, (ii) performance of financial markets, including emerging markets, and including market volatility, liquidity and credit events (iii) the frequency and severity of insured loss events, including from natural catastrophes and including the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the Euro/U.S. Dollar exchange rate, (ix) changing levels of competition, (x) changes in laws and regulations, including monetary convergence and the European Monetary Union, (xi) changes in the policies of central banks and/or foreign governments, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganization measures, and (xiv) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.
The matters discussed herein may also be affected by risks and uncertainties described from time to time in Allianz SE’s filings with the U.S. Securities and Exchange Commission. The company assumes no obligation to update any forward-looking statement.
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