Duck Creek Technologies Adds Lloyd’s of London Integration to its Reinsurance Cloud Platform

Duck Creek Reinsurance extends its market leading capabilities to support insurance carriers globally

LONDON, Dec. 19, 2023 (GLOBE NEWSWIRE) — Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, announces support for and integration into Lloyd’s Outwards Reinsurance Scheme (LORS) for its ceding reinsurance customers using Duck Creek Reinsurance. Lloyd’s of London demands their members to have robust outwards (ceding) reinsurance strategies with appropriate systems, controls, procedures, and expertise to enable the effective management of outwards reinsurance purchasing and recoveries. With this latest functionality, Duck Creek Reinsurance continues to offer global carriers the necessary tools to integrate into the world’s leading reinsurance market.

The LORS capability within Duck Creek Reinsurance offers all the code sets used in LORS and USM messages, enabling Lloyd’s members and Duck Creek customers to directly connect to and interact with the Lloyd’s technology platform and processes. Duck Creek Reinsurance is equipped with the required data structure to support LORS Outward Reinsurance Advice Message to advise underwriters of transactions which are new, amended, or replaced by brokers, as well as Underwriter Response Messages which are used to advise underwriter authorisations, objections, and data changes. Duck Creek’s LORS integration also will confirm successful batch processing or report errors and will automatically notify insurance carriers regarding ceding movements and processing status. The Duck Creek Reinsurance LORS module includes full audit trail functionality giving insurers the ability to delete pre-authorised items or groups of items where they are in error and to request authorisation for signed items to be cancelled.

“Duck Creek’s LORS integration demonstrates our commitment to the London reinsurance market. As we build upon over three decades of market-leading reinsurance management capabilities, Duck Creek Reinsurance is delivering the core functionality and innovation to enable global growth for our reinsurance customers,” says Julien Victor, managing director, reinsurance management. “Duck Creek is also involved in the Lloyd’s Blue Print 2 initiative and we are proud to lead the market with cloud-based technology that supports many of the world’s most prominent insurance carriers’ reinsurance programs spanning the London, European, APAC, Bermuda, and USA territories.”

Duck Creek Reinsurance is a SaaS-based cloud platform that connects with any policy or claims system, data warehouse, and downstream general ledgers to track all the information related to reinsurance contracts (treaties and facultative contracts), claims, accounting data, technical data, auxiliary data, financial data, and more). Duck Creek Reinsurance has built-in reporting and can also connect to popular corporate reporting solutions. Duck Creek Reinsurance is a flexible solution tailored to international organizations using multiple currencies and multiple GAAP requirements.

About Duck Creek Technologies
Duck Creek Technologies is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand.

Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and Twitter.

Contact
Drake Manning
drake.manning@duckcreek.com

GlobeNewswire Distribution ID 9006572

Loads Limited Maintains Steady Closing Price

Karachi, In the trading session of December 19, 2023, Loads Limited, represented by the code LOADS, maintained a steady closing price in the Pakistan Stock Exchange. The stock opened and closed at PKR 10.87, with a low of PKR 9.74 and a high of the same value. The trading volume was 2,975,500 shares, and the stock concluded the day at a closing price of PKR 10.74.

Asim Textile Maintains Uniform Price Throughout Trading Day

Karachi, Asim Textile (ASTM), under company code 830, maintained a uniform price throughout the trading day on the Pakistan Stock Exchange (PSE) as of December 19, 2023. The company is a part of the textile industry.

The stock of Asim Textile opened and closed at PKR 11.4, showing no variation during the trading session. A modest volume of 1,000 shares was traded, with the closing price slightly higher at PKR 12.38.

LSE Proptech Ltd Records Increase in Stock Price

Karachi, LSE Proptech Ltd, trading under the code LSEPL, saw an increase in its stock price in the Pakistan Stock Exchange on December 19, 2023. The company's stock opened at PKR 4.25 and closed higher at PKR 4.4. The low and high for the day were PKR 4.2 and PKR 4.24, respectively. A total of 54,500 shares were traded, with the closing price at PKR 4.4.

Sardar Chemical Industries Records Moderate Growth

Karachi, Sardar Chemical Industries, trading under the symbol NC, recorded moderate growth with a current rate of Rs. 26.74 and a daily weighted average rate of Rs. 60.00. The company declared a 10% distribution in 2021 and no distributions in 2022. Its EPS for January-November 2023 is Rs. 6.48. Sardar Chemical Industries, with a paid-up capital of 500 million rupees, saw its stock reach a high of Rs. 44.65 and a low of Rs. 19.5 this year. The company has been listed on the Pakistan Stock Exchange since October 21, 1994.

Equity Modaraba Sees Increase in Closing Price on Pakistan Stock Exchange

Karachi, Equity Modaraba (FEM), a financial instrument, recorded an increase in its closing price on the Pakistan Stock Exchange (PSE) as of December 19, 2023. The company, under code 819, operates in the financial sector.

Opening at PKR 3.52, Equity Modaraba closed higher at PKR 3.75, experiencing a trading range from a low of PKR 3.52 to a high of PKR 3.75. With 2,500 shares traded during the day, the closing price was noted at PKR 4.23.

MCB Investment Management Limited Announces Robust Dividend Payout

Karachi, MCB Investment Management Limited, a notable name in investment banking in Pakistan, declared a significant dividend payout of 50% cash, 30% bonus, and 55% stock options. The company, which was listed on the Pakistan Stock Exchange on October 16, 2008, reported a noteworthy earnings per share (EPS) of PKR 5.23. With a paid-up capital of PKR 720 million, MCB Investment Management Limited has shown consistent financial performance, with an EPS increase from PKR 20.01 to PKR 28.3.

Sitara Chemical Industries Ltd. Demonstrates Strong Financial Performance

Karachi, Sitara Chemical Industries Ltd., operating under the symbol NC, demonstrated strong financial performance with a current rate of Rs. 251.87 and a daily weighted average rate of Rs. 214.29. The company declared 100% distributions in 2021 and 80% in 2022, with a consistent 100% distribution in 2023. Its EPS for January-November 2023 is Rs. 62.89. Sitara Chemical Industries Ltd., with a paid-up capital of 100 million rupees, saw its stock peak at Rs. 281.71 and dip to Rs. 194.1 this year. The company has been a part of the Pakistan Stock Exchange since October 14, 1987.

LSE Ventures Ltd Experiences Stock Value Growth

Karachi, On December 19, 2023, LSE Ventures Ltd, coded as LSEVL, witnessed growth in its stock value on the Pakistan Stock Exchange. The stock opened at PKR 4.95 and closed higher at PKR 5.4. The stock fluctuated between PKR 4.95 and PKR 5.27, with 86,000 shares traded. The closing price was noted as PKR 5.01.

OLP Financial Services Pak. Ltd. Maintains Consistent Dividend Policy

Karachi, OLP Financial Services Pak. Ltd., established in the financial services sector since October 19, 1988, has consistently offered a 40% dividend to its shareholders. The company's financial strength is evident in its substantial paid-up capital of PKR 1,754.08 million and an earnings per share of PKR 5.22, an increase from PKR 18 to PKR 23.48.

Exide Pakistan Reports Increase in Closing Stock Price

Karachi, Exide Pakistan (EXIDE), under company code 802, experienced an increase in its closing stock price on the Pakistan Stock Exchange (PSE) as of December 19, 2023. The company is a prominent player in the battery manufacturing sector.

Exide Pakistan's stock opened at PKR 392.01 and closed at PKR 394. The stock reached a low of PKR 372.5 and a high of PKR 379.62 during the session. With 13,300 shares traded, the closing price was higher at PKR 398.08.

Wah-Noble Chemicals Ltd. Maintains Strong Market Presence

Karachi, Wah-Noble Chemicals Ltd., listed as NC, maintained a strong market presence with a current rate of Rs. 187.05 and a daily weighted average rate of Rs. 90.00. The company declared 100% distributions in both 2021 and 2022. Its EPS for January-November 2023 is Rs. 37.16. Wah-Noble Chemicals Ltd.'s stock reached a high of Rs. 214.89 and a low of Rs. 133.25 this year. With a paid-up capital of 100 million rupees, the company has been listed on the Pakistan Stock Exchange since October 19, 1985.