Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 321

Posts Tagged ‘company’

Certificazione B Corp per Euro Company

Posted by fidest press agency su sabato, 2 novembre 2019

Euro Company nel 2018 è diventata una Società Benefit e ora ha ottenuto una delle più importanti certificazioni internazionali che attesta i valori sociali e l’impegno ambientale che contraddistinguono l’azienda di Godo di Russi (RA), obiettivi al di fuori del solo profitto economico. Si tratta della Certificazione B Corporation (o B Corp), rilasciata dall’ente no-profit statunitense B Lab. Le B Corporation sono aziende che stanno riscrivendo il modo di fare impresa: questo perché la loro attività economica crea un impatto positivo su persone e ambiente, lavorando in maniera responsabile, sostenibile e trasparente e perseguendo uno scopo più alto del solo guadagno. La certificazione B Corp abbraccia l’intera azienda, coprendo quattro aree d’impatto: lavoratori, comunità, ambiente e clienti. Il processo di certificazione è rigoroso e richiede di dare evidenza delle proprie attività socialmente ed ecologicamente responsabili, tra cui forniture energetiche, spreco e uso dell’acqua, retribuzione dei lavoratori, paro opportunità e trasparenza aziendale.Euro Company già da diversi anni ha individuato cinque punti cardine per la propria attività: promuovere la cultura del benessere fisico e spirituale, attraverso una sana e corretta alimentazione; fondare le proprie relazioni commerciali sulla sostenibilità economica, sociale e ambientale; sostenere la comunità scientifica e le associazioni di volontariato; creare un ambiente di lavoro in cui crescere ed essere felici; diffondere e condividere tutto quanto possa portare un beneficio tangibile alle persone e al pianeta. Valori reali come testimoniato ora anche dalla certificazione B Corp.Euro Company fa ora parte di una comunità di oltre 2.600 aziende in tutto il mondo, solamente 500 in Europa e meno di 100 in Italia, che hanno ottenuto la certificazione B Corp. Aziende diverse per settore, assetto e dimensioni, tra cui Patagonia, Alpro, Triodos Bank, Alessi, Ecoalf e Innocent, per citarne solo alcune.
Nathan Gilbert, direttore esecutivo di B Lab Europe, afferma: «Siamo lieti di dare il benvenuto a Euro Company nella comunità B Corp. Questo è un movimento di aziende che si impegnano a cambiare il modo in cui opera il business, che credono che il business possa davvero essere una forza per il bene comune. Sappiamo che Euro Company sarà un’importante aggiunta alla community e fonte d’ispirazione per gli altri, contribuendo a diffondere l’idea che possiamo ridefinire il successo negli affari per essere in sintonia con le persone e il pianeta e allo stesso tempo generare profitto». Euro Company s.r.l. Società Benefit è l’azienda di riferimento in Italia nel settore della frutta secca e dei frutti disidratati. Ha sede a Godo di Russi (RA). http://www.eurocompany.it

Posted in Economia/Economy/finance/business/technology | Contrassegnato da tag: , , | Leave a Comment »

AM Best Assigns Credit Ratings to National Insurance Company

Posted by fidest press agency su domenica, 20 ottobre 2019

AM Best has assigned a Financial Strength Rating of B- (Fair) and a Long-Term Issuer Credit Rating of “bb-” to National Insurance Company (NIC) (Jordan). The outlook assigned to these Credit Ratings (ratings) is positive.The ratings reflect NIC’s balance sheet strength, which AM Best categorises as adequate, as well as its adequate operating performance, limited business profile and marginal enterprise risk management.The positive outlooks reflect AM Best’s expectation that NIC’s risk-adjusted capitalisation will improve from 2019 onward, benefiting from internal capital generation. In addition, AM Best views positively recent actions taken by the company’s management to improve the reserving adequacy of its motor book and reduce its asset risk exposure.The company’s balance sheet strength assessment is underpinned by very strong risk-adjusted capitalisation in 2018, as measured by Best’s Capital Adequacy Ratio (BCAR), which is expected to return to the strongest level. Whilst the company’s asset base is exposed heavily to the high financial system risk in Jordan, its investment portfolio is weighted toward liquid asset classes such as bank deposits and fixed-income securities. In the medium term, the company plans further divestment of some of its real estate holdings, which in 2018, accounted for approximately 12% of its capital base. Offsetting factors in AM Best’s balance sheet strength assessment include the company’s small capital base and moderate dependence on reinsurance for large risks.NIC has generated positive operating earnings over recent years, with the five-year (2014-2018) weighted average combined ratio of 94.3% and return on equity of 8.8%. However, its underwriting results deteriorated markedly in 2018, due to the weak performance of its motor and medical segments, which contributed to the company reporting a combined ratio of 110.3% and a net operating loss of JD 0.9 million. NIC’s management has taken steps to reverse this trend by pruning its underwriting portfolio and strengthening its reserves, which AM Best expects to support technical profits going forward. At half-year 2019, the company reported improved performance with profit after tax of JD 0.4 million and a combined ratio of approximately 98%.AM Best’s assessment of NIC’s business profile as limited reflects its relatively small size and concentration to Jordan’s intensely competitive insurance market, where it maintains a 3.6% market share (based on total market premiums in 2018). NIC’s risk management framework is developing, and AM Best views its risk management capability to be marginal relative to its risk profile.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Plymouth Rock Assurance® Acquires Rider Insurance Company

Posted by fidest press agency su domenica, 20 ottobre 2019

Plymouth Rock Assurance today finalized its acquisition of Rider Insurance Company. New Jersey-based Rider is the largest motorcycle insurance provider in the state, and the only carrier serving the motorcycle community exclusively. “We look forward to focusing on the motorcycle insurance segment of the business and expanding our current product offerings,” said Gerry Wilson, President and CEO of Plymouth Rock Management Company of New Jersey. “Plymouth Rock and Rider share a common history built on trust and reliability, and we’re excited to welcome a new group of customers and riding enthusiasts to Plymouth Rock.” Plymouth Rock, rated A- (“Excellent”) by A.M. Best and specializing in auto and home insurance across the Northeast, will now look to expand its motorcycle insurance business with the acquisition of Rider Insurance. The acquisition of Rider by Palisades Safety and Insurance Association, a Plymouth Rock company, was approved earlier this month by the New Jersey Department of Banking and Insurance.

Posted in Estero/world news | Contrassegnato da tag: , , , | Leave a Comment »

LeadBridge Changes Company Name to PipelineIQ

Posted by fidest press agency su venerdì, 4 ottobre 2019

LeadBridge today announced its rebranding to PipelineIQ, aligned with its mission to help B2B technology organizations sell more strategically to their most challenging enterprise prospects. With fourteen years of experience executing highly customized prospect intelligence programs for large technology firms, the rebranding of LeadBridge to PipelineIQ represents the company’s dedication to enabling more strategic conversations between technology sales organizations and their high-value enterprise prospects. PipelineIQ helps address the challenge around scalability that exists today in account-based marketing (ABM) by delivering account-level recommendations and ABM themes to help marketers quickly customize messaging that will resonate with key decision makers.“Our team is thrilled about rebranding to PipelineIQ. Our new name is now best aligned with our mission to help clients shorten their complex technology sales cycles by putting conversation starters, prospecting recommendations, and proprietary prospect intelligence in the hands of enterprise sales professionals and marketers looking to be more relevant with their Fortune 500-sized prospects,” said Rick Catino, Founder and CEO of PipelineIQ. “Personalization is critical in strategic selling, but this can be challenging to scale effectively. We have unparalleled experience in shaping enterprise account strategies for some of the world’s largest technology sales teams. We are thrilled to re-brand our company and looking forward to rolling out some exciting new product offerings in Q4.”The company has used the name “LeadBridge” since 2006, achieving recognition by Inc. Magazine numerous times for revenue growth and the Boston Business Journal for revenue growth and as a Top Place to Work in Massachusetts. All future business activity will be conducted under the new PipelineIQ name.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Like Minded Entertainment Announces the Acquisition of Canadian Tech Company Vantrix

Posted by fidest press agency su venerdì, 13 settembre 2019

Like Minded Entertainment’s (LME) founder, filmmaker and actor Mark Kassen announced during the Toronto International Film Festival that his Hollywood-based production company has completed the acquisition and integration of Vantrix Technology Corporation into its Like Minded portfolio, forming new entities Like Minded Media Ventures (LMMV) and Like Minded Labs (LML).As a place for the integration of production and technology, Like Minded Media Ventures is building upon Vantrix’s current technology to empower actors, musicians and sports figures with the ability to create their own purpose-built, end-to-end distribution systems for both recorded content and live event streaming.
With over a billion users worldwide, Vantrix’s rich portfolio of 300+ patents and market leading proprietary media and camera technology has been embedded in most major wireless service providers and media distribution systems since 2004; including AT&T, Sprint, Bell Canada, Vidéotron, O2 and Vodaphone among others.Jean Mayrand will continue to serve as CEO of the Montreal-based Vantrix and its new technology incubator Like Minded Labs, supported by RBC and based in Montreal. Sal Alvarez will continue as Head of Production for Like Minded Entertainment. Technology pioneer and Kassen’s LME partner Joe Kiani will join the boards of all Like Minded entities.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Company Profile for ReAlta Life Sciences, Inc.

Posted by fidest press agency su giovedì, 29 agosto 2019

ReAlta Life Sciences, Inc. is an early stage pharmaceutical company incorporated in late 2018, and located in Norfolk, Virginia. ReAlta was initially formed as a joint venture between Children’s Hospital of The King’s Daughters, Children’s Specialty Group (170 multispecialty pediatricians) and Eastern Virginia Medical School. ReAlta is dedicated to addressing life-threatening medical needs through beneficial inhibition of the Complement System and Inflammatory Mechanisms. To support this mission, ReAlta has developed a New Class of Drugs that can address unmet medical needs through unique Multi-Modal Therapeutic Capabilities.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Company Profile for Sylabs Inc.

Posted by fidest press agency su venerdì, 23 agosto 2019

After its initial release in 2016, Singularity was immediately accepted by the research community to meet scientists’ demands for a new application packaging methodology through containers. Today, Singularity is deployed on many of the largest supercomputers in the world.Developed specifically for HPC, Singularity’s success is firmly rooted in the open source community. Singularity is considered the platform of choice by academia and commercial HPC centers. The features that make Singularity popular with HPC users also make it the ideal container technology for data-intensive workloads, or what is characterized as Enterprise Performance Computing (EPC).As today’s enterprises leverage more data to support and grow their businesses, the need to properly containerize and support workflows related to artificial intelligence, machine/deep learning, and advanced analytics has grown substantially. Sylabs was founded to solve this challenge by enhancing the free Community version to create SingularityPRO, a commercially supported enterprise version of Singularity.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Company Profile for Keane

Posted by fidest press agency su domenica, 4 agosto 2019

Keane provides unclaimed property compliance, consulting, asset reunification and reporting services worldwide. We assist Fortune 500 companies, law firms, accounting firms, universities, small businesses and consumers with their unclaimed property needs while mitigating risks, reducing costs, and retaining more customers and accounts. By Federal and State laws, corporations are required to locate owners who may be unaware, or lost track, of the asset they own. Keane’s expertise allows for this location before or after assets are transferred to the states. Our business model is founded on, and governed by, state mandated laws and principles.
Founded in 1949, Keane began by assisting financial institutions with locating account owners and reuniting assets. Our name originated from the radio show Mr. Keene, Tracer of Lost Persons which ran from 1937 to 1955. Keane has historically served as a pioneer in molding the unclaimed property industry. Keane’s founder participated in formulating The Uniform Unclaimed Property Act of 1954 which initiated a new landscape of unclaimed property enforcement across the country. As a result, we expanded our service reach and national footprint. Keane also influenced the Uniform Unclaimed Property Act of 1995, and in 1997 the Securities and Exchange Commission (SEC) called on Keane to provide testimony and assist in drafting the SEC Rule: 17Ad-17. During the 2000’s, Keane continued as the premier unclaimed property provider and further expanded our expertise by combining the top three independent firms in the industry. What sets Keane apart is our total commitment to customer service, the expertise and qualifications of our employees, and our demonstrated accountability for measurable results. Today, Keane assists our consumer clients by identifying and reuniting them with their assets to which they are entitled. Keane is also privileged to help our corporate clients maintain compliance, minimize risk, retain assets, and comply with state and federal annual reporting regulations.

Posted in Estero/world news, Uncategorized | Contrassegnato da tag: , , | Leave a Comment »

Company Profile for Masimo

Posted by fidest press agency su lunedì, 15 luglio 2019

Masimo is a global medical technology company that develops and produces a wide array of industry-leading monitoring technologies, including innovative measurements, sensors, patient monitors, and automation and connectivity solutions. Our mission is to improve patient outcomes and reduce the cost of care. Masimo SET® Measure-through Motion and Low Perfusion™ pulse oximetry, introduced in 1995, has been shown in over 100 independent and objective studies to outperform other pulse oximetry technologies. Masimo SET® has also been shown to help clinicians reduce severe retinopathy of prematurity in neonates, improve CCHD screening in newborns, and, when used for continuous monitoring with Masimo Patient SafetyNet™ in post-surgical wards, reduce rapid response team activations, ICU transfers, and costs. Masimo SET® is estimated to be used on more than 100 million patients in leading hospitals and other healthcare settings around the world, and is the primary pulse oximetry at 9 of the top 10 hospitals listed in the 2018-19 U.S. News and World Report Best Hospitals Honor Roll. Masimo continues to refine SET® and in 2018, announced that SpO2 accuracy on RD SET™ sensors during conditions of motion has been significantly improved, providing clinicians with even greater confidence that the SpO2 values they rely on accurately reflect a patient’s physiological status. In 2005, Masimo introduced rainbow® Pulse CO-Oximetry technology, allowing noninvasive and continuous monitoring of blood constituents that previously could only be measured invasively, including total hemoglobin (SpHb®), oxygen content (SpOC™), carboxyhemoglobin (SpCO®), methemoglobin (SpMet®), Pleth Variability Index (PVi®), RPVi™ (rainbow® PVi), and Oxygen Reserve Index (ORi™). In 2013, Masimo introduced the Root® Patient Monitoring and Connectivity Platform, built from the ground up to be as flexible and expandable as possible to facilitate the addition of other Masimo and third-party monitoring technologies; key Masimo additions include Next Generation SedLine® Brain Function Monitoring, O3® Regional Oximetry, and ISA™ Capnography with NomoLine® sampling lines. Masimo’s family of continuous and spot-check monitoring Pulse CO-Oximeters® includes devices designed for use in a variety of clinical and non-clinical scenarios, including tetherless, wearable technology, such as Radius-7® and Radius™ PPG, portable devices like Rad-67™, fingertip pulse oximeters like MightySat® Rx, and devices available for use both in the hospital and at home, such as Rad-97™. Masimo hospital automation and connectivity solutions are centered around the Iris® platform, and include Iris Gateway™, Patient SafetyNet, Replica™, Halo ION™, UniView™, and Doctella™.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

The collaboration of six Nordic banks results in a joint KYC company

Posted by fidest press agency su domenica, 7 luglio 2019

Stockholm. Danske Bank A/S, DNB Bank ASA, Nordea Bank Abp, Skandinaviska Enskilda Banken AB (publ), Svenska Handelsbanken AB (publ) and Swedbank AB (publ) are moving forward and have established a joint venture company to develop a platform for handling KYC (Know Your Customer) data. The European Commission has given its approval in accordance with the EU merger control rules.The joint venture company is preparing for its first commercial launch in 2020. The company is autonomous and will initially offer KYC services to the market concerning large and medium-sized companies based in the Nordic region.“The collaboration between all banks has been both effective and successful. Together, we have in a short period of time worked on a Nordic KYC utility standard for compliant KYC information and explored alternatives for a future digital solution. As we have now received the green light from the European Commission, we are ready to move forward with our plans,” says Fredrik Millde, interim CEO of the Nordic KYC utility.The banks’ top priority in collaborating has been to develop a Nordic platform with standardised processes for handling KYC data. The objective is to improve customer experience by simplifying the KYC processes for corporate customers while strengthening financial crime prevention in the Nordics.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

COACH Taiwan Named ‘Best Company to Work for in Asia 2019’

Posted by fidest press agency su mercoledì, 3 luglio 2019

COACH Taiwan announced that the Company has been awarded the “Best Company to Work for in Asia 2019” by HR Asia Magazine, a top regional publisher in the HR industry. The highly-reputable award recognizes companies that possess remarkable levels of employee engagement, corporate culture and employer branding.COACH Taiwan staff at HR Asia awards presentation ceremony with William Ng, Group Publisher Editor-in-Chief of Business Media International (Photo: Business Wire)
COACH Taiwan staff at HR Asia awards presentation ceremony with William Ng, Group Publisher Editor-in-Chief of Business Media International (Photo: Business Wire)“The Best Company to Work for in Asia” award is one of the region’s most authoritative awards, covering 12 markets. The rigorous selection process covers a comprehensive assessment of participating organizations’ talent strategies, employee engagement and leadership effectiveness. Employees are invited to provide ratings and opinions on their employers to help select the winner. COACH Taiwan was awarded the accolade after it was judged by an independent panel of industry experts, academics and journalists.
COACH Taiwan was founded in 2012, with 28 directly-operated stores and over 250 employees. In the era of VUCA (Volatility, Uncertainty, Complexity, Ambiguity), COACH will continue to build a dynamic, diverse and inclusive workplace for talents, and develop them to provide exceptional experiences to our consumers.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Visa Chief Financial Officer Vasant Prabhu Appointed Company Vice Chairman

Posted by fidest press agency su domenica, 26 Mag 2019

Visa Inc. announced today that Vasant Prabhu, Executive Vice President, Chief Financial Officer and member of the Executive Committee, will take on the added title of Vice Chairman for the global payments technology company.As part of his expanded role, Prabhu will take an active role in representing Visa at payments industry forums and serving as a valuable voice with key constituents on business issues of strategic importance to Visa and its clients. Additionally, he will provide strategic counsel on major initiatives and geographies important to Visa’s future growth.“I have extraordinary respect for Vasant,” said Al Kelly, Visa CEO. “He is a strong strategist with a deep knowledge of our business, and is very well regarded in the industry. This expanded role will enable us to leverage his expertise in new and meaningful ways.” Prior to joining Visa, Prabhu worked at NBCUniversal Media, LLC, as Chief Financial Officer, overseeing the company’s finance function as well as the operations and technical services division. Prior to joining NBCUniversal in 2014, Prabhu served as the chief financial officer for Starwood Hotels & Resorts Worldwide, Inc. since 2004.In 2010, Prabhu was named Vice Chairman of Starwood. At Starwood, he was responsible for all financial functions, information technology and a range of corporate functions. He also served as Executive Vice President and Chief Financial Officer for Safeway Inc., and held senior leadership roles at The McGraw-Hill Companies, Inc., PepsiCo, Inc. and Booz, Allen & Hamilton. Prabhu holds a B.S. in Engineering from the Indian Institute of Technology and an MBA from the University of Chicago.

Posted in Estero/world news | Contrassegnato da tag: , , , | Leave a Comment »

Xerox Shareholders Approve Holding Company Reorganization

Posted by fidest press agency su venerdì, 24 Mag 2019

Xerox (NYSE: XRX) announced today that shareholders approved its proposal to adopt the merger agreement pursuant to which Xerox expects to implement a holding company reorganization.Holders of approximately 99.7 percent of common shares present and voting at Xerox’s annual meeting, representing approximately 77.0 percent of the company’s total outstanding common shares, voted in favor of the proposal. The final voting results for the annual meeting will be reported in a Form 8-K that Xerox will file with the Securities and Exchange Commission.The closing of the holding company reorganization remains subject to the satisfaction of customary conditions, including, without limitation, receipt of approval from the Financial Conduct Authority of the United Kingdom. Xerox is targeting the third quarter of 2019 for the closing of the holding company reorganization; however, there can be no assurance regarding completion of the reorganization or timing of regulatory approvals, which could delay the closing.
Following the closing, it is expected that the common stock of the holding company will trade on the New York Stock Exchange under Xerox’s current trading symbol, “XRX.” In addition, to eliminate duplicative administrative requirements and costs, Xerox has notified NYSE Chicago that it intends to voluntarily delist Xerox common stock from trading on NYSE Chicago immediately prior to completion of the holding company reorganization.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Expansion to Multi-Product Cancer Diagnostic Platform Company

Posted by fidest press agency su martedì, 14 Mag 2019

Novigenix SA, a leading ImmunoTranscriptomics company that develops and commercializes products for early cancer detection and precision medicine today announced the appointment of Dr. Jan Groen to the position of Chief Executive Officer and member of the Board of Directors.Dr. Jan Groen has many years of experience in the life science industry with a focus on emerging technologies, product development and commercialization. Dr. Groen was previously the President and CEO of MDxHealth SA (Euronext), an epigenetic diagnostic company focusing on urological cancers. During his 9 years at MDxHealth, Dr. Groen oversaw growth of total cumulative revenue to over US$100 million, the raising of more than US$80 million in equity financing, the establishment of a CLIA service laboratory in the United States and an ISO service laboratory in Europe, and the team expansion to over 220 staff to sell their prostate and other cancer diagnostic tests. Dr. Groen is co-founder of ViroClinics, founder CEO of DxOrange and has held numerous international executive management and board mandates in international diagnostic companies. He currently serves on the board of Angle Plc and Destina Genomics. He holds a Ph.D. degree in Medical Microbiology from the Erasmus University Rotterdam, a BSc in Clinical Laboratory Studies, and has published more than 125 papers in international scientific journals in the field of clinical diagnostics
Novigenix is committed to unravel a new understanding of the human host response against cancer. The company was founded on the vision that ImmunoTranscriptomics will bring unprecedented advances in diagnosing and treating cancer patients leading to significant improvement in healthcare. Novigenix’s unique ImmunoTranscriptomics technology enables an accelerated identification of disease specific mRNA signatures of circulating immune cells, which combined with machine learning and predictive algorithms, can predict onset and progression of disease. The Company has established a valuable multicultural biobank and database of over 1,400 patients at risk of colorectal cancer (CRC) and has launched its first blood-based molecular diagnostic product, Colox®, for the early detection of colon cancer. Colox is currently being distributed in Switzerland by Unilabs and Dr. Risch laboratory.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

ICR Publishes Guide to a Successful Special Purpose Acquisition Company

Posted by fidest press agency su giovedì, 9 Mag 2019

ICR, a leading strategic communications and advisory firm, today announced the release of ICR’s Guide to a Successful SPAC. This primer update for SPACs provides an overview of the SPAC market, explains how and where SPACs typically list, which investment banks work on these IPOs, the emerging interest of institutional investors, and the unique communications challenges for executing a successful transaction or “de-SPACing.” SPACs, formed to raise capital in an initial public offering with the purpose of identifying and acquiring one or more operating companies, are generally given up to two years to complete a successful business combination.“SPACs are attracting higher quality acquisition targets and more private equity firms are willing to take back roll-over equity as part of consideration in the deal. Yet structurally, SPACs still provide the business seller with more liquidity than a typical IPO,” said Don Duffy, President of ICR. “As the deal size grows, we are also seeing increased institutional investor participation in these transactions.”
More than 70 public SPACs hold approximately $20 billion in cash and have not yet completed acquisitions. In the first quarter of 2019 alone, 14 SPACs raised over $3 billion, almost exceeding the issuance from all other types of IPOs combined.The de-SPAC process begins once the SPAC announces its proposed acquisition, representing the start of a high-stakes, condensed timeline to complete the transaction.To be successful, SPACs need an experienced team that understands the de-SPACing process, the industry, and the challenges related to announcing an acquisition and the shareholder vote process. In addition, an important, but often overlooked, aspect of the communications strategy is to begin to transition the narrative from the SPAC sponsor’s messaging to the go-forward business strategy.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

AM Best Revises Outlooks to Stable for Mountain Life Insurance Company

Posted by fidest press agency su domenica, 14 aprile 2019

AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of Mountain Life Insurance Company (Mountain Life) (Lexington, KY).The Credit Ratings (ratings) reflect Mountain Life’s balance sheet strength, which AM Best categorizes as strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management.The revised outlooks to stable from negative reflect the continued progress regarding the integration of Mountain Life into the Kentucky National Insurance Group (Kentucky National). At this time, AM Best’s concern over execution risk leading to a deterioration in Mountain Life’s ratings has been reduced based on discussions with the new management team and Mountain Life’s results since the time of the transaction close in early 2018. AM Best has held discussions with the new management team related to business plans, strategy, and the integration of Mountain Life into the Kentucky National organization. Mountain Life’s ratings continue to be supported by solid risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), and its strong liquidity afforded by the company’s conservative investment portfolio. Offsetting factors include Mountain Life’s modest overall earnings and declining premium trends, and its concentrated business profile in the credit insurance arena. AM Best will continue to monitor Kentucky National’s business plan for Mountain Life and the company’s ability to carry out its stated plans and projections.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Company Profile for ABI Research

Posted by fidest press agency su sabato, 23 marzo 2019

ABI Research provides strategic guidance for visionaries needing market foresight on the most compelling transformative technologies, which reshape workforces, identify holes in a market, create new business models and drive new revenue streams. ABI’s own research visionaries take stances early on those technologies, publishing groundbreaking studies often years ahead of other technology advisory firms. ABI analysts deliver their conclusions and recommendations in easily and quickly absorbed formats to ensure proper context. Our analysts strategically guide visionaries to take action now and inspire their business to realize a bigger picture. For more information about subscribing to ABI’s Research Services as well as Industrial and Custom Solutions, visionaries can contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit http://www.abiresearch.com.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

AM Best Downgrades Credit Ratings of Atlanta Life Insurance Company

Posted by fidest press agency su giovedì, 21 marzo 2019

AM Best has downgraded the Financial Strength Rating (FSR) to C+ (Marginal) from C++ (Marginal) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “b-” from “b+” of Atlanta Life Insurance Company (ALIC) (Atlanta, GA). The outlook of the FSR has been revised to negative from stable while the outlook of the Long-Term ICR remains negative. ALIC is the life insurance member of Atlanta Life Financial Group, Inc. (ALFG) and is the only remaining active entity within the group.The ratings reflect ALIC’s balance sheet strength, which AM Best categorizes as adequate, as well as its weak operating performance, very limited business profile and weak enterprise risk management.The rating downgrades reflect ALIC’s significant operating losses in 2017 and 2018 despite a onetime favorable benefit due to the merger of the company’s two retirement plans, which removed the pension liability from ALIC’s financial statements once the plans were combined. Despite the plan merger, ALIC still remained liable in the unlikely event that the plans assets were insufficient to fund its liabilities. On a normalized basis, excluding the onetime pension gain and a onetime write-off of a reinsurance contract, operating losses reflect high expenses, unfavorable investment yields and the impact of a contracting balance sheet. The write-off of the reinsurance contract, although modest in terms of operating results, is reflected in AM Best’s ERM assessment of weak given the lack of an adequate risk-control framework, which must be addressed going forward by the new chief financial officer and chief executive officer.Despite the company retaining a favorable risk-adjusted capital position, the overall balance sheet assessment continues to be stressed by a low level of absolute capital as the result of a write-off of an inter-company receivable from ALFG, a lack of liquidity, high reinsurance leverage and unfavorable cash-flow testing results. While the balance sheet assessment remains adequate and within AM Best’s prior expectations, the company’s operating cash flows are negative and AM Best anticipates that if the company’s ambitious business plans are not realized, future risk-adjusted capitalization levels likely will continue to decline over time given the expense structure of the company. Management has laid out substantial business development plans with a focus on assuming group life insurance business from new and existing carrier relationships, which promotes its marketing advantage as an African-American reinsurance carrier. AM Best notes that projected premium levels substantially exceed historical norms and will be a challenge to achieve. As a result, ALIC’s business profile assessment remains very limited with a noted lack of historical data quality, virtually no new business growth, limited market share and limited product diversification.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Company Profile for Novus Therapeutics, Inc.

Posted by fidest press agency su mercoledì, 20 febbraio 2019

Novus Therapeutics, Inc. (“Novus”) is a specialty pharmaceutical company focused on developing products for patients with disorders of the ear, nose, and throat (“ENT”). Novus has two technologies, each that has the potential to be developed for multiple ENT indications. Novus’ lead product candidate (OP0201) is a surfactant-based, drug-device combination product being developed as a potential first-in-class treatment option for patients at risk for, or with, otitis media (“OM” or middle ear inflammation with or without infection). Globally, OM affects more than 700 million adults and children every year, with over half of the cases occurring in children under five years of age. OM is one of the most common disorders seen in pediatric practice, and in the United States is a leading cause of health care visits and the most frequent reason children are prescribed antibiotics or undergo surgery. Novus also has a foam-based drug delivery technology (OP0102), which may be developed in the future to deliver drugs into the ear, nasal, and sinus cavities. For more information please visit novustherapeutics.com.

Posted in Estero/world news | Contrassegnato da tag: , , , | Leave a Comment »

Tennant Company Completes China Acquisition of Gaomei Cleaning Equipment Company

Posted by fidest press agency su martedì, 15 gennaio 2019

Tennant Company (NYSE: TNC), a world leader in designing, manufacturing and marketing of solutions that help create a cleaner, safer, healthier world, today announced that it has completed the acquisition of Gaomei Cleaning Equipment Company. Gaomei is based in Hefei, China, and is a recognized leader in the development and production of small- to mid-sized cleaning equipment and solutions for commercial and industrial applications.
The Gaomei acquisition represents another step toward global diversification of revenue for Tennant Company as the majority of Gaomei’s revenue is generated inside China. The Gaomei acquisition aligns with Tennant’s growth strategies for China, expands Tennant’s local China manufacturing footprint providing additional scale to compete, and enhances profitability. Gaomei also adds another strong brand to Tennant’s global brand portfolio following Tennant’s acquisition of European-based IPC Group in 2017.Commented Pat Schottler, Tennant Company Vice President, Asia Pacific (APAC): “Our acquisition of Gaomei will help Tennant further strengthen our market position in China through a highly complementary product portfolio and differentiated go-to-market strategy. We are excited about our combined potential in this strategically important market. We look to build on the 21-year legacy Gaomei has established as a recognized leader in the Chinese market.”Gaomei will continue to operate and compete independently. The company will remain focused on building the Gaomei brand, advancing its innovative product portfolio, and growing market presence.“We are extremely excited about the opportunities this agreement creates for Gaomei and Tennant, including the ability to access a broader range of resources to accelerate our strategies. We believe this is an excellent opportunity for all our channel partners, as well, and look forward to working together to grow our businesses,” said Mr. Chen Guobao, Gaomei General Manager.

Posted in Estero/world news | Contrassegnato da tag: , , , | Leave a Comment »