Categories
Business

AM Best comments on Credit Ratings of Elevance Health, Inc. and its subsidiaries following acquisition announcement

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance — AM Best has commented that the Credit Ratings (ratings) of Elevance Health, Inc. (Elevance) (Indianapolis, IN) [NYSE: ELV] and its insurance subsidiaries entities remain unchanged following the Jan. 23, 2023, announcement that Elevance will be acquiring Louisiana Health Service and Indemnity Company dba Blue Cross and Blue Shield of Louisiana (BCBSLA). BCBSLA is an independent licensee of the Blue Cross Blue Shield Association and offers a diversified portfolio of health products that are similar to the core insurance subsidiaries of Elevance. BCBSLA serves more than 1.9 million members with approximately $1.8 billion in capital and surplus as of year-end 2021.

 

AM Best will continue to monitor developments as BCBSLA, a mutual company, goes through various legal, regulatory and financial steps needed to be acquired by Elevance, a publicly traded company. In addition, it has been over a decade since Elevance last added a Blue plan to the enterprise and it is unclear how long it will take to obtain the necessary approvals in the current environment. While Elevance recently stressed its focus on joint ventures and partnerships with various Blue plans, the announcement indicates that there may be an interest toward a full merger of additional Blue plans into the organization. In AM Best’s opinion, there is a possibility that this acquisition, if successful, may prompt other transactions of a similar nature, especially given that a number of Blue plans that have converted to a mutual holding company from a nonprofit structure over the past decade. Following the transaction, AM Best anticipates Elevance’s financial leverage to increase slightly above its long-term target of 40%. However, Elevance has shown an ability to manage the financial leverage down to below 40% following temporary fluctuations due to debt issuances and acquisitions. Elevance also has a high level of financial flexibility, supported by its large commercial paper program, parent company cash and a revolving credit facility. AM Best notes that BCBSLA is well-capitalized with a history of profitable, albeit fluctuating, results and the acquisition will be accretive to earnings. Elevance plans to maintain its current business strategy and the transaction is expected to close in the second half of 2023 following regulatory approval.

 

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Jennifer Asamoah
Senior Financial Analyst
+1 908 439 2200, ext. 5203
jennifer.asamoah@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Doniella Pliss
Director
+1 908 439 2200, ext. 5104
doniella.pliss@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 439 2200, ext. 5098
al.slavin@ambest.com

Categories
Business Science

Tevogen Bio announces positive Proof-of-Concept clinical trial results of its off-the-shelf, allogeneic cytotoxic CD8+ T Cell therapy for treatment of acute high-risk COVID patients, first clinical product of company’s precision cell therapy platform

  • The primary study endpoints were related to safety. No dose-limiting toxicities or significant adverse events related to TVGN 489, including Cytokine Release Syndrome, were observed in any patient at any dose level.
  • Secondary endpoints measuring the reduction of viral load and the presence of cellular and humoral anti-COVID-19 responses after treatment were met.
  • Fifty percent (50%) of treatment arm patients were immunocompromised versus six percent (6%) of observational arm patients.
  • Treatment arm patients were infected by a variety of COVID variants ranging from Delta through Omicron BA.5.2.
  • Observational arm patients were treated with standard of care including monoclonal antibodies.
  • Key observational findings: All treatment arm patients returned to their baseline level of health within 14 days of treatment. No incidence of COVID reinfection or Long COVID was observed in any treated patient at the time of the six (6) month follow up.

 

WARREN, N.J. — (BUSINESS WIRE) — #COVID19Tevogen Bio today announced positive topline results from its Proof-of-Concept (POC) clinical trial designed to evaluate the safety and feasibility of TVGN 489, the company’s first clinical product of its precision T Cell therapy platform, for the treatment of acute high-risk COVID-19 patients. TVGN 489 is a genetically unmodified, off-the-shelf, allogeneic cytotoxic CD8+ T lymphocyte (CTL) product with precise targets across the SARS-CoV-2 genome, not just the Spike protein. To date, TVGN 489 targets, identified early in the pandemic, persist in the most recent SARS-CoV-2 variants. The open label comparative trial was conducted at Thomas Jefferson University Hospital in Philadelphia to assess the safety and feasibility of TVGN 489 when given at one of four escalating doses. Twelve ambulatory patients with newly diagnosed COVID-19 infection who were at higher risk for infection-related complications due to advanced age or CDC-defined comorbid conditions such as heart, lung, liver, and kidney disease, hypertension, diabetes, cancer, or obesity were treated on the trial. Eighteen patients, who also met these criteria but did not receive TVGN 489 because of lack of HLA matching, were enrolled on an observational arm in the study and treated with standard of care including monoclonal antibodies.

The treated patients had between 2 to 5 comorbidities each and 6 out of 12 (50%) were immunocompromised due to treatment for cancer or autoimmune disease. Multiple COVID-19 variants were detected in the group. Safety endpoints included infusion reactions, grade 4 adverse events, GVHD, marrow aplasia, neurotoxicity and CRS.

 

Table 1. Treatment arm (n=12)

Safety Criteria as Defined in the Study Protocol

Trial Result

Infusion Reactions (≥ Grade 3)

0/12

Cytokine release syndrome, (Grade ≥ 2)

0/12

Neurotoxicity (Grade ≥ 2)

0/12

Graft versus Host Disease

0/12

Grade ≥4 Adverse Events

(Related to the CTL therapy & outside the spectrum of identified COVID related adverse events)

0/12

 

Safety endpoints were reviewed after each dose level and confirmed by an independent Data and Safety Monitoring Committee at Jefferson and by both internal and external Medical Monitors who provided permission to escalate to the next dose level. Based on the data in Table 1, safety was confirmed with the minimum required number of patients per dosing level. In addition to safety endpoints, secondary endpoints measuring the reduction of viral load and the presence of cellular and humoral anti-COVID-19 responses after treatment were also met.

 

Enrollment was completed in nine months, and six-month follow-up for all patients concluded on January 19, 2023. In the treatment arm, no patient experienced progression of their COVID-19 infection and all patients returned to their baseline level of health within 14 days of treatment. There were no incidences of COVID-19 reinfection or Long COVID observed in any treated patient through the 6-month follow-up period. While patients in the treatment group experienced COVID-19 symptom relief in a rapid, consistent timeframe as self-reported and confirmed by the investigators, patients on the observation arm showed improvement in a less consistent, and in some cases, longer time frame.

 

The study investigators plan to submit the full data for publication in a peer-reviewed journal in the upcoming weeks.

 

“The highly encouraging data of TVGN 489 allows us to turn our attention to the critical unmet need in the COVID-19 landscape. Immunocompromised and the elderly and infirm usually do not benefit from currently available prevention or treatment strategies for COVID-19 and remain highly vulnerable to poor outcomes with a COVID-19 infection. These patients, as well as those individuals with Long COVID, urgently require new treatment options,” said Dr. Dolores Grosso, DNP, the Principal Investigator of the trial.

 

“I’m greatly encouraged by the POC trial experience of TVGN 489 and hopeful that our investigational COVID-19 therapy will eventually offer hope to a substantial segment of patients,” said Dr. Neal Flomenberg, MD, Tevogen’s Chief Scientific Officer.

 

“Tevogen’s goal is to provide access to the vast and unprecedented potential of personalized immunotherapies for large patient populations impacted by common cancers and viral infections. The ability to administer TVGN 489 in the outpatient setting and the ongoing work by Tevogen scientists to use this product in diverse patient populations, highlights Tevogen Bio’s commitment to patient accessibility,” said Tevogen founder and CEO Dr. Ryan Saadi, MD, MPH.

 

Tevogen’s research pipeline includes treatment for other serious viral infections and cancers using their precision T Cell platform.

 

About Tevogen’s Next Generation Precision T Cell Platform

Tevogen’s next generation precision T-cell platform is designed to provide increased immunologic specificity to eliminate malignant and virally infected cells, while allowing healthy cells to remain intact. Multiple, precise candidate targets on viral or malignant cells are selected in advance for T cell sensitization and effector functions with the goal of overcoming the mutational escape capacity of cancer cells and viruses while limiting cross-reactivity.

 

Tevogen is investigating its technology’s potential to overcome the primary barriers to the broad application of personalized T cell therapies: potency, purity, production-at-scale, and patient-pairing, without the limitations of current approaches. Tevogen’s goal is to provide access to the vast and unprecedented potential of developing personalized immunotherapies for large patient populations impacted by common cancers and viral infections. The ability to administer TVGN-489 in the outpatient setting and the ongoing work by Tevogen scientists to use this product in diverse patient populations, highlights Tevogen Bio’s commitment to patient accessibility.

 

About Tevogen Bio

Tevogen Bio is driven by a team of highly experienced industry leaders and distinguished scientists with drug development and global product launch experience. Tevogen’s leadership believes that accessible personalized immunotherapies are the next frontier of medicine, and that disruptive business models are required to sustain medical innovation in the post-pandemic world.

 

Forward Looking Statements

This press release contains certain forward-looking statements relating to Tevogen Bio™ Inc (the “Company”) and its business. These statements are based on management’s current expectations and beliefs as of the date of this release and are subject to several factors which involve known and unknown risks, delays, uncertainties, and other factors not under the Company’s control that may cause actual results, performance or achievements to be materially different from the results, performance or other expectations implied by these forward-looking statements. Forward-looking statements can sometimes be identified by terminology such as “may,” “will,” “should,” “intend,” “expect,” “believe,” “potential,” and “possible,” or their negatives or comparable terminology, as well as other words and expressions referencing future events, conditions, or circumstances. In any forward-looking statement in which the Company expresses an expectation or belief as to future results, there can be no assurance that the statement or expectation or belief will be achieved. Various factors may cause differences between the Company’s expectations and actual results, including, among others: the Company’s limited operating history; uncertainties inherent in the execution, cost, and completion of preclinical studies and clinical trials; risks related to regulatory review, and approval and commercial development; risks associated with intellectual property protection; and risks related to matters that could affect the Company’s future financial results, including the commercial potential, sales, and pricing of the Company’s products. Except as required by law, the Company undertakes no obligation to update the forward-looking statements or any of the information in this release, or provide additional information, and expressly disclaims any and all liability and makes no representations or warranties in connection herewith or with respect to any omissions therefrom.

Contacts

Tevogen Communications

T: 1 877 TEVOGEN, Ext 701

Communications@Tevogen.com

Categories
Business Culture Environment Lifestyle Local News

Essential Properties Realty Trust, Inc. to report Fourth Quarter 2022 results on Feb. 15, 2023

PRINCETON, N.J. — (BUSINESS WIRE) — Essential Properties Realty Trust, Inc. (NYSE: EPRT; “Essential Properties” or the “Company)” announced today that the Company will release its operating results for the fourth quarter ended Dec. 31, 2022, after the market close on Wednesday, Feb. 15, 2023. The Company will host its fourth quarter 2022 earnings conference call and audio webcast on Thursday, Feb. 16, 2023, at 10:00 a.m. Eastern Time to discuss its operating results.

 

A webcast of the conference call will be available on the Investor Relations section of the Company’s website at www.essentialproperties.com. To listen to the live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software.

 

Direct Link to Webcast:

https://viavid.webcasts.com/starthere.jsp?ei=1595275&tp_key=6c4500d3f6

 

To Participate in the Telephone Conference Call:

Dial in at least five minutes prior to start time

Domestic: 877-407-9208

International: 201-493-6784

Conference Call Playback:

Domestic: 844-512-2921

International: 412-317-6671

Replay Pin: 13735903

 

About Essential Properties Realty Trust, Inc.

Essential Properties Realty Trust, Inc. is an internally managed REIT that acquires, owns and manages primarily single-tenant properties that are net leased on a long-term basis to companies operating service-oriented or experience-based businesses. As of Sept. 30, 2022, the Company’s portfolio consisted of 1,572 freestanding net lease properties with a weighted average lease term of 14.0 years and a weighted average rent coverage ratio of 4.2x. In addition, as of Sept. 30, 2022, the Company’s portfolio was 99.8% leased to 329 tenants operating 486 different concepts in 16 industries across 48 states.

Contacts

Investor/Media:

Essential Properties Realty Trust, Inc.

Daniel Donlan

Senior Vice President, Capital Markets

609-436-0619

investors@essentialproperties.com

Categories
Culture Education News Now! Special/Sponsored Content

Associaton of National Advertisers’ Educational Foundation (AEF) and SeeHer announce SeeHer Education

New Groundbreaking Initiative Created to Combat Gender Bias in Marketing and Advertising Through Education at the University Level

 

NEW YORK — (BUSINESS WIRE) — The ANA Educational Foundation (AEF) and SeeHer, the leading global movement to eliminate gender bias in marketing, media, and entertainment, announced the launch of a first-of-its-kind new initiative, SeeHer Education.

SeeHer Education is the first certificate program combining Marketing and Gender Studies. The program brings together top professors and practitioners who are leading efforts to eliminate gender bias in marketing and advertising and will act as a bridge between academia and industry.

 

The specific outcomes of SeeHer Education include:

  • Educate the next generation of marketing leaders on how to eliminate gender bias from day one of their careers.
  • Demonstrate how to increase accurate, fair portrayals of women and girls.
  • Provide best-in-class professional credentials combining academic theory with industry best practices.
  • Create a pipeline of talent for the industry that brings a gender-equity mindset to marketing.

 

The curriculum is being developed by professors from Gender Studies and Marketing at top universities and institutions, including Baylor University, Bentley University, Harvard University, Howard University, Loyola University Chicago, Marquette University, Michigan State University, Rutgers University, The Smithsonian Institute, Texas Christian University, University of Illinois, and University of Miami.

 

The program is set to launch in September 2023. It will be open to undergraduate students studying Marketing, Communications, and Gender Studies, expanding to other disciplines, graduate students, and entry-level marketers.

 

“We are so proud to be a part of this new initiative, which is core to our SeeHer mission,” said Christine Guilfoyle, president, SeeHer, ANA. “It’s critical that the next generation of marketers and media leaders bring a gender-equal mindset to the content they create and stories they tell throughout marketing, media, and entertainment.”

 

Gord McLean, president, CEO, AEF, added, “The goal of SeeHer Education is to eliminate gender bias from marketing and advertising from the outset by giving professors and students open access to cutting-edge, interactive educational materials. It’s been a wonderful experience to see marketing professionals and educators working so closely together to advance what is clearly such an important common cause.”

 

Elements will also include modules for in-classroom use by professors and joint industry and academic events led by SeeHer and AEF.

 

SeeHer member DoubleVerify, a leading software platform for digital media measurement, is the first industry partner for SeeHer Education.

 

ABOUT THE ANA

The ANA’s (Association of National Advertisers) mission is to drive growth for marketing professionals, brands and businesses, the industry, and humanity. The ANA serves the marketing needs of 20,000 brands by leveraging the 12-point ANA Growth Agenda, which has been endorsed by the Global CMO Growth Council. The ANA’s membership consists of U.S. and international companies, including client-side marketers, nonprofits, fundraisers, and marketing solutions providers (data science and technology companies, ad agencies, publishers, media companies, suppliers, and vendors). The ANA creates Marketing Growth Champions by serving, educating, and advocating for more than 50,000 industry members that collectively invest more than $400 billion in marketing and advertising annually.

 

ABOUT THE AEF

ANA Educational Foundation (AEF) is the bridge that connects the advertising, marketing, and academic communities. We educate and inspire the next generation of talent while advancing the understanding of marketing and advertising in society. Created in 1983 and supported by its three constituencies, advertising, media, and marketing, the AEF is a 501(c)3 operating foundation. We create and distribute educational content to improve the understanding and appreciation of the societal role of advertising and marketing through our programs on college campuses across the country.

 

ABOUT SEEHER

SeeHer is the leading global movement of media, marketing, and entertainment leaders committed to the accurate depiction of women and girls in advertising and media. Launched in 2016 by the Association of National Advertisers (ANA) in partnership with The Female Quotient (The FQ), SeeHer is changing how women are portrayed in media. To help members benchmark success, SeeHer spearheaded the development of the Gender Equality Measure® (GEM®), the first research methodology that quantifies gender bias in ads and programming. GEM® proves that content accurately portraying women and girls dramatically increases both purchase intent and brand reputation. The GEM® methodology quickly became the industry standard, winning the prestigious ESOMAR Research Effectiveness Award, leading to its global rollout in 2018. The movement has expanded its verticals to include sports (SeeHer In Sports), music (SeeHer Hear Her) and health (SeeHer Health.) Follow SeeHer on Instagram, Facebook, LinkedIn, TikTok and Twitter.

Contacts

Christa Dallas, Wolf-Kasteler Public Relations

Email: christad@wk-pr.com
Cell: 424-400-9379

Categories
Business Culture Lifestyle

Catalent, Inc. announces Second Quarter Fiscal Year 2023 Earnings Conference Webcast

SOMERSET, N.J. — (BUSINESS WIRE) — Catalent, Inc. (NYSE: CTLT), the global leader in enabling pharma, biotech, and consumer health partners to optimize development, launch, and supply of better patient treatments across multiple modalities, today announced that it will release financial results for the second quarter of fiscal year 2023 ended Dec. 31, 2022, before the market open on Tuesday, Feb. 7, 2023.

 

The Company’s management will host a webcast to discuss the results at 8:15 a.m. ET on the same day.

 

Catalent invites all interested parties to listen to the webcast, which will be accessible through Catalent’s website at https://investor.catalent.com.

 

A supplemental slide presentation will also be available in the “Investors” section of Catalent’s website prior to the start of the webcast. The webcast replay, along with the supplemental slides, will be available for 90 days in the “Investors” section at www.catalent.com.

 

About Catalent, Inc.

Catalent is the global leader in enabling pharma, biotech, and consumer health partners to optimize product development, launch, and full life-cycle supply for patients around the world. With broad and deep scale and expertise in development sciences, delivery technologies, and multi-modality manufacturing, Catalent is a preferred industry partner for personalized medicines, consumer health brand extensions, and blockbuster drugs. Catalent helps accelerate over 1,000 partner programs and launch over 150 new products every year. Its flexible manufacturing platforms at over 50 global sites supply around 80 billion doses of nearly 8,000 products annually. Catalent’s expert workforce of approximately 18,000 includes more than 3,000 scientists and technicians. Headquartered in Somerset, New Jersey, the company generated nearly $5 billion in revenue in its 2022 fiscal year. For more information, visit www.catalent.com.

Contacts

Investor:

Paul Surdez, Catalent, Inc.

(732) 537-6325

investors@catalent.com

Categories
Business Lifestyle Technology

Intelligent Light announces the release of IntelliTwin® Suite – The realizable digital thread for HPC simulations

RUTHERFORD, N.J. — (BUSINESS WIRE) — Intelligent Light is currently shipping subscriptions of IntelliTwin® Suite which both organizes HPC workflows and forms a cohesive interface between HPC workflows and systems engineering requirements. As a backbone for Digital Twin, IntelliTwin® is a Digital Thread which manages data provenance and workflows for projects. It does this with minimal intrusion into established engineering workflows.

 

Some of the valuable benefits provided by IntelliTwin® Suite are increased simulation workflow throughput and confidence through repeatable and self-documenting workflows. Other benefits include the management of simulation workflow assets which include results, provenance and other metadata. Through non-invasive management of provenance and metadata, IntelliTwin® Suite supports customer mandates and regulations regarding results accreditation. IntelliTwin® Suite can integrate HPC workflows with your PLM software and can be customized via its open RESTful API infrastructure.

 

Steve Legensky, President of Intelligent Light, remarked about IntelliTwin® Suite, “Everyone is talking about Digital Twins these days and that can mean many things. At the core of any Digital Twin plan is the issue of effective management and the use of data from test and results from simulation; we call that the Digital Thread. We have developed the IntelliTwin® Suite as an open and extensible architecture, agnostic with respect to solver codes, PLM systems, and HPC resources. It is designed to fit into your Digital Twin strategy as you develop and deploy it. The sooner you can begin organizing your valuable simulation and test assets, the more extensive your library of reusable information becomes.”

 

The IntelliTwin® Suite is comprised of the IntelliTwin® Core (workflow and metadata management), SpectreUQTM (easy and efficient uncertainty quantification), KombyneTM (co-processing and visualization), and the Data Analytics Suite (frequency and modal analysis).

 

About Intelligent Light

Founded in 1984, Intelligent Light™ developed FieldView which became one of the world’s leading software tools for visualization and post-processing of CFD. In 2019, Intelligent Light™ spun off FieldView into an entity focused on packaged software (FieldView CFD, Inc.) so that Intelligent Light™ could focus on subscription-based HPC and digital twin products. The company also performs applied research to meet customer needs. Development of SpectreUQ™ and Kombyne™ were supported by the US Department of Energy via grants DE-SC0018633 and DE-SC0015162. For more information, contact our Public Relations Team: pubrel@ilight.com.

 

IntelliTwin® , Kombyne™, and Intelligent Light™ are trademarks of JMSI, Inc.

Contacts

Public Relations

pubrel@ilight.com

Categories
Business

AM Best downgrades Credit Ratings of Franklin Mutual Group’s Members

OLDWICK, N.J. — (BUSINESS WIRE) — AM Best has downgraded the Financial Strength Rating to A (Excellent) from A+ (Superior) and the Long-Term Issuer Credit Ratings to “a+” (Excellent) from “aa-” (Superior) of Franklin Mutual Insurance Company, FMI Insurance Company and POM Insurance Company (all members of and together known as Franklin Mutual Group). The outlook of these Credit Ratings (ratings) has been revised to stable from negative. All companies are domiciled in Branchville, NJ.

 

The ratings reflect the Franklin Mutual Group’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).

 

The rating downgrades reflect the continued deterioration in the group’s underwriting performance over the current five-year period as driven by severe weather-related events, fire losses, inflation and supply chain issues, as well as elevated expense structure. Through the first nine months of 2022, the company reported a sizable underwriting loss, which puts the group on pace to report significant underwriting losses for the fourth time in the past five years, due to an increase in frequency and severity events. While the group’s management has implemented a series of initiatives such as rate increases, nonrenewal unprofitable accounts, technology and processes all designed to improve future operating performance, the degree of demonstrated volatility in performance is no longer indicative of AM Best’s previous strong assessment.

 

The stable outlooks reflect AM Best’s expectation that the group will continue to curb volatility and improve its underwriting performance. The stable outlooks further consider the historical financial strength of the group’s overall balance sheet strength including its risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), at the strongest level, which is supportive of the current ratings.

 

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Phinthip Dezuzio
Senior Financial Analyst
+1 908 439 2200, ext. 5751
phinthip.dezuzio@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Brian O’Larte
Director
+1 908 439 2200, ext. 5138
brian.o’larte@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 439 2200, ext. 5098
al.slavin@ambest.com

Categories
Business

Best’s Review examines insurers’ increase interest in Shell Companies

OLDWICK, N.J. — (BUSINESS WIRE) — In a new article, Best’s Review examines the processes, benefits and risks of insurance shell transactions. Insurers and potential insurers purchase shell companies to expedite the process of expanding their businesses and becoming full-stack insurers, rather than starting from the ground up in each state. The trend of buying shells will continue as companies want to quickly enter a market, insurers say. Read the full story in “A Shell of Their Future Selves: How Insurer Acquisitions Spur Faster Growth.”

 

Best’s Review is AM Best’s monthly insurance magazine, covering emerging issues and trends and evaluating their impact on the marketplace. The complete content of Best’s Review is available here.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2023 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Patricia Vowinkel
Executive Editor, Best’s Review®
+1 908 439 2200, ext. 5540
patricia.vowinkel@ambest.com

Categories
Business Culture Digital - AI & Apps Lifestyle Regulations & Security

Next Solutions Group acquires technologist Tom Cocuzza’s Wells Tech Advisors

Expertise in supporting marketing technology for highly regulated industries

 

AUSTIN, Texas & MORRISTOWN, N.J. — (BUSINESS WIRE) — The Next Solutions Group (NSG) announced the acquisition of Wells Tech Advisors to support marketing technology for businesses, including those in highly regulated industries such as healthcare.


Wells Tech Advisors, which is led by Tom Cocuzza, will be rebranded as NSG Technologies and focus on devOps, engineering, quality assurance, architecture, application management and related disciplines. Those services will complement Next Solutions Group’s offerings, which include corporate reputation/issues management, business intelligence, and cybersecurity.

 

“Tom and his teams have the ability to understand business goals, translate those into specific actions and then build the right solutions, often in highly regulated marketplaces,” said Raymond F. Kerins Jr., founder and CEO of Austin and New York-based Next Solutions Group.

 

“Technology must be there to enable, accelerate and improve business outcomes, which requires a mentality and experienced team that thinks in an agile manner.”

 

NSG and NSG Technologies are part of Next Practices Group (NPG), a founder-driven consortium of firms.

 

Cocuzza most recently served as Practice Leader, Technology Services for Real Chemistry, where he led a 35-person technology team to deliver strategies across Veeva, Marketo, Salesforce and Salesforce Marketing Cloud, as well as bespoke solutions for clients in the healthcare industry.

 

“Tom grew up as a software engineer, lead developer and senior systems engineer, so he knows the ins and outs of devOps, in addition to understanding how to scale this important function,” added John Morea, Global CIO, NPG and Chair, NSG Technologies.

 

“Our mission at NPG is for our IT team to be client-facing, so that our clients and all NPG firms can partner with a best-in-class team.”

 

Cocuzza created Wells Tech Advisors in early 2022 to offer clients a range of skills that include devOps as a service, platform architecture, data engineering, application, cloud service and vendor management and process optimization.

 

“My goal is to build NSG Technologies into a service that streamlines workflow for our clients with a team that knows how to navigate highly regulated industries, such as healthcare, financial services, insurance, energy and other key industries,” stated Cocuzza, founder and CEO of NSG Technologies.

 

About The Next Solutions Group

The Next Solutions Group specializes in corporate reputation/issues management, technology solutions, business intelligence, and cybersecurity and is a member of The Next Practices Group (NPG).

 

NSG’s senior team of professionals has a broad range of experience in business, government, and journalism. We have supported C-suite executives, top government officials, military, and non-profit leaders.

 

We protect and advance our clients’ reputation while ensuring alignment with organizational objectives. We support and coach executives and leaders in preparation for engagement with key audiences, including investors, employees, regulators, and journalists. At a time when companies and their leaders are coming under relentless assault online, we monitor the clear, deep, and dark web to protect their safety and reputation.

 

We represent multinational companies in sectors including healthcare, technology, consumer goods and financial services. Our senior leaders are engaged. We do the day-to-day work. We have engaged with companies that have been under investigations by various governmental agencies, including the Justice Department and the Federal Trade Commission. We have worked on class action lawsuits, executive issues/transitions, corporate layoffs, anti-corporate activism, and cyber/ransomware attacks. Our work has also included M&A, regulatory and product issues such as recalls.

 

About The Next Practices Group

NPG is a founder-driven group formed to create perpetual competitive advantage and value for clients. The group’s combined expertise in leading organizations and in the key disciplines of data science, technology, digital media, issues management, cybersecurity, and marketing communications powers new models and a new approach to doing business.

Contacts

Media:
Madeline Brew

732-207-9917

Madeline.Brew@nextpracticegroup.com

Categories
Business Culture International & World

SHI International names Dwight Moore Chief Information Officer

Moore, who joined SHI last year, has more than 20 years’ experience in technology management with large IT corporations

 

SOMERSET, N.J. — (BUSINESS WIRE) — SHI International, one of the largest IT solutions providers in the world, has appointed Dwight Moore its Chief Information Officer.

 

Moore, who joined SHI last year as Chief Technology Officer, assumes overall responsibility for the continued strategic planning, development, and implementation of transformative technologies that will increase efficiencies, improve the digital experience of customers, partners, and employees, and support SHI’s continued growth goals.

 

Moore brings more than 20 years of senior IT management experience, holding VP or CTO positions at Dell, Dell Financial Services, Presidio, and multiple early-stage, venture-backed companies. His successful track record of IT strategy and management, combined with business and product development, make him ideally positioned to oversee the complex ecosystem of the global IT solutions provider.

 

“Dwight’s unique set of skills and technology management experience made him the right choice to be our CTO last year, and he’s shown what he can bring to SHI’s leadership team ever since,” said Thai Lee, President and CEO of SHI International. “Just as we help our customers use technologies to transform their business, SHI must reinvest in our own technology stack to provide a world-class experience to customers and the employees that support them. Dwight brings the right mix of expertise to his new role as CIO to help the company achieve its goals, and I’m eager to see the progress he and his team will make in 2023 and beyond.”

 

Moore holds a degree in electrical engineering from Texas A&M University.

“SHI has a well-earned reputation for being one of the most friendly, helpful, and knowledgeable technology partners in the industry,” said Moore. “After joining and experiencing this for myself in 2022, my vision is to use technology to reinforce these existing cultural strengths while further developing others, such as efficiency and effectiveness. Taking a holistic approach to our systems and technologies, I believe we will deliver a better experience for all our stakeholders, including customers, industry partners and our 6,000 colleagues.”

 

ABOUT SHI

SHI International Corp. is a $14 billion transformational technology solutions provider serving the needs of more than 15,000 corporate, enterprise, public sector and academic customer organizations around the world. It helps companies achieve business goals through the use of technologies ranging from software licensing and end user computing devices to innovative cloud and edge solutions. With over 6,000 employees worldwide, SHI is the largest Minority and Woman Owned Business Enterprise (MWBE) in the U.S.

 

For more information, visit https://www.SHI.com.

Contacts

Press Resources

SHI Corporate Website: http://www.SHI.com
SHI Blog: http://blog.SHI.com
SHI Twitter Handle: @SHI_Intl

Contact

Gregory FCA for SHI International
Matt McLoughlin
610.228.2123
Matt@GregoryFCA.com