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Commercial Finance Broker Completes £2.7M Investment Deal For Eco-Luxury Apartments in Scarborough


It’s not all doom and gloom for the local economy during these unprecedented times, as companies seek to do business from the comfort of their homes. Leeds based Commercial Finance broker, ‘Xander Wealth Commercial Finance’ have just sealed a £2.7m investment/development finance deal in partnership with a local developer for the construction of seventeen high specification apartments on Filey Road in Scarborough. The company which specialises in development finance sealed the deal in May 2020. Work on the scheme is due to begin imminently and will be completed by August 2021.

These brand new unique apartments are specially designed and suitable for all age groups, including the elderly, disabled and families. They will be constructed from special insulating concrete, made with rigid thermal insulation and interlocking modular units which are dry-stacked and filled with concrete. The complex will have wheelchair access and be environmentally friendly too. Some of the apartments have views of Scarborough’s South Bay and are located near the town centre, train station and beach.

Xander Wealth founder, Kristian Alexander Wilkinson commented:
“This will be a wonderful addition to the local community of Scarborough, offering high specification, eco, accessible apartments suitable for people of all ages, with potential for tourists and permanent residents alike”

This represents a large deal in Xander Wealth Commercial Finance’s short history, which Wilkinson started in 2017 and after two years of building contacts started trading in February 2019. They offer a wide range of finance products, including development finance, bridging loans, commercial mortgages and ‘Buy to Lets’ for Ltd companies. To date they have arranged funds worth over £4.2m since its inception. They are now working on a small housing scheme in Castleford as well as one in Barnsley too. Wilkinson’s future ambitions is to establish his own credit line for the development of housing & commercial schemes across the county.
Despite the drawbacks of the Covid-19 pandemic, Xander Wealth keeps going from strength to strength.

1. Kristian Wilkinson has spent his working life hosting events in Yorkshire, building the website and social platform, I-Yorkshire which promotes Yorkshire to the World and is a passionate Yorkshireman.
2. For more information on Xander Wealth visit https://xanderwealth.com/
3. Visit the I-Yorkshire website at https://marketplace.i-yorkshire.com/

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WPO completes its €600,000 bond issue in record time


A new record was set for the financing of energy transition related projects. Launched on 15 January 2020, WPO’s bond issue reached its target in less than 24 hours. The bond issue was met with unprecedented enthusiasm on the crowdlending platform Lendosphere.

A record setting bond issue for the digital energy transition

On 15 January 2020, WPO, a French leading multi-national platform for the management of third-party wind and solar assets in Europe, launched a bond issue open to all, including individuals, to pre-finance a new energy transition model, based on the collection and processing of energy data. This new model, which can reduce the cost of green energy and make its production more reliable, has convinced 466 investors in less than 24 hours.

“We are thrilled to witness such enthusiasm for our digital energy transition project, this is a testimony to the willingness of citizens to be part of the change for a greener future. We know the response to the climate emergency cannot only come from governments, it is also for businesses and citizens to take the lead by proposing and supporting innovative initiatives and solutions.” Barthélémy Rouer, Founder of WPO.

Set at €600 000 the target was met in 23 hours, a record setting success for Lendosphere, France’s leading crowdfunding platform for paid loans dedicated to the energy transition.

“WPO’s business model is different from the other projects on Lendosphere but the ambition of this project appealed to the investors in an unprecedented way. This accomplishment underlines the relevance of our action and the growing interest of the citizens to participate in the energy transition. “ Amaury Blais, President of Lendosphère

An energy transition model based on data

The digitalization of the management of wind and solar farms allows the collection in real time of large amounts of data related to the operation of these infrastructures: electrical data (power, intensity, frequency…), mechanical data (temperature, vibration, noise…), meteorological data (wind speed, atmospheric pressure, radiation, etc.) and others.

Intelligent processing of this data has a threefold advantage:

Reduces costs through the automation of multiple control and management functions
Maximizes green energy production through the early detection and anticipation of anomalies on facilities
Increases Transparency by certifying green energy production and making this data available to the general public, institutions and professionals.

This virtuous cycle benefits both the producer who optimizes its facilities, and the general public who is now able to evaluate and verify the progress of the energy transition through reliable access to live data as it happens in real time.

The bond issue will allow WPO to deploy the most effective means to increase its data portal and enhance its value through artificial intelligence. To do this, private certificates of renewable energy production, called GoCerts , will be created in real time, registered and transferred by a shared electronic registration device (“Distributed Ledger Technology”).

About WPO :
Established in 2008, WPO is a leader in independent asset management and associated specialized services for wind and solar power in Europe. The company oversees 600 production sites in 10 European countries with a capacity of more than 5 gigawatts, i.e. 1700 wind turbines and 12 million photovoltaic modules. Today, WPO contributes to the production of electricity from renewable sources for the equivalent of about two million people, almost the population of intramural Paris. It offers technical, commercial and financial management solutions, and holds among its clients and stakeholders more than 360 companies, including investment funds, insurers, reinsurers, developers, banks, mixed economy companies and independent electricity producers. In a world where energy management is becoming increasingly decentralized and complex, WPO’s main objective is to ensure energy sustainability and create the conditions for greater trust through issuing the first energy production certificates from reliable and traceable renewable sources on the world market. WPO is listed on the Financial Times FT1000 2017 as one of Europe’s 1000 Fastest Growing Companies.

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RNA Analytics successfully completes IFRS 17 Orange Life Insurance Project


Reigate, October UK – 2019

Most Korean insurers are already implementing IFRS 17 systems but many are struggling in a number of areas. The most difficult part of the IFRS 17 implementation for Korean insurers is the construction of the cash flow engine because performing complex calculations on a regular and timely basis is almost impossible with most existing actuarial solutions.

The complexity of the calculations combined with the desired granularity of results has meant many insurers with their existing actuarial solutions having to invest, at a huge cost, in high specification hardware in order to produce their IFRS 17 results in their required timeframe.

Already aware of the difficulties of deploying an enterprise level IFRS 17 solution, RNA Analytics’ software development and actuarial consulting teams have been working for several years analyzing all the requirements for IFRS 17 to spearhead large-scale developments in R³S, RNA Analytics’ actuarial modeling solution, that implement the new features required to meet client requirements.

Almost all the requirements needed by IFRS 17, from the calculation of new accounting concepts such as the risk adjustment and contractual service margin, to the most complex modeling of Korean insurance products as well as the linkage with reinsurance, various embedded option value calculations, new payment plans, dynamic decision-making, and large database processing functions were considered when designing the new features. The most recent developments in the R³S software have enabled insurers to optimize the structure of their models, thereby dramatically reducing the cost of hardware, while still meeting the new requirements.

In particular, the IFRS 17 implementation project at Orange Life, is considered to be the most successful project in the industry. Almost all of the requirements had already been implemented in the R³S solution as a result of previous IFRS 17 project implementations. The K-Insurance Capital Standard (K-ICS) and dynamic ALM models were also built in R³S to implement an enterprise-wide business model within Orange Life.

With the new functionality within the software, users have the ability to directly load large result sets into databases such as Oracle. This removes the requirement to purchase additional ETL software and reduces the storage space required as results do not need to be staged prior to being loaded into the reporting system. This results in the establishment of a highly efficient and automated system from a ROI perspective.

“Through this project, we were able to proactively respond to system changes such as IFRS 17, and establish a systematic basis for conducting an actuarial valuation and strategic analysisSeokho Woo, Managing Director – Orange Life.

“As a result of this project, Orange Life has built the industry-leading actuarial infrastructure system to provide timely settlement reports and various company reports. Thus providing a foundation for rapid response to the accounting and regulatory requirements of IFRS 17, in addition supporting management decisions and responding to changes in management processes required under the new accounting systemHarry Kim, CEO – RNA Analytics.

About RNA Analytics
RNA Analytics is a company formed around a product team that has been working together for over 20 years. RNA Analytics offers insurance firms a comprehensive actuarial modeling solution that provides essential risk and regulatory metrics to help meet the needs of an existing global client base. This solution supports the modeling of insurance portfolios across a spectrum of risk-based regulatory regimes such as Solvency II and IFRS. It helps meet the business needs of insurers for more realistic and complex modeling to enable critical risk-informed decision support for growth.

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