Categories
Business Lifestyle

Insurance billing and payments moves from back office function to growth accelerator – New thought leadership from Deloitte and Majesco

MORRISTOWN, N.J. — (BUSINESS WIRE) — Majesco, a global leader of cloud insurance software solutions for insurance business transformation, today announced the availability of a new joint thought leadership report from Deloitte and Majesco which highlights overarching trends within billing and payments and how it is impacting decisions, opportunities, and growth. The report leverages recent market research and executive roundtable discussions from insurance industry executives in late 2021 to answer some tough questions for those trying to navigate a billing and payment environment that is increasingly under pressure to adapt.

The rapid digital transformation across industries is pulling insurance into the fast lane with billing and payments at the forefront. Mary Meeker’s data indicates that over 60% of transactions are digital in nature, ranging from mobile payments, messenger apps and contactless payments through online commerce sites and buy buttons. In recent Majesco customer research, Gen Z and Millennials are leading the way in use of digital payment apps with strong growth in use Apple Pay, Samsung Pay, company apps, digital wallets like Zelle and Venmo, and Bitcoin. This means that insurers must have a wider range of payment options available for customers to avoid putting customer experiences at risk.

 

With today’s heightened customer demands as well as exciting new products and services and non-insurance offerings, new billing and payment methods are vital. New channel opportunities and new digital ways of interacting with customers are transforming the role of billing. Billing and payment options are key customer engagement tools. Their flexibility and usability are foundational aspects of the new digital experience.

 

In an era where everything is connected and customer demands are at an all-time high, understanding changing customer expectations and requirements is critical,” says Denise Garth, Chief Strategy Officer at Majesco. “An engaging experience needs to be personalized, relevant and holistic, but to accomplish this, insurers must invest in robust digital and functional capabilities with advanced data and analytics. By leveraging the latest technologies, insurers can offer new payment methods, billing and plans and access to real-time billing, so they can meet rapidly shifting customer expectations, stay ahead of the competition and capture new markets while growing existing markets.”

 

Once considered to be financial, back-office functions, billing and payments are now at the center of the digital and customer relationship as well as innovative, new products and services. Billing has become a key component in any growth and innovation strategy. A redesigned billing experience can anchor an insurer’s future success and survival. Unfortunately, most billing systems are not prepared to meet higher challenges of service expectations and ultimately customer success. But to remain competitive and take advantage of growing market opportunities, insurers cannot hesitate. They must rethink the billing and payments foundation before the gap becomes insurmountable.

 

Defy permanence while designing your billing operating models, technology capabilities, and related commercial agreements,” says Ajay Radhakrishnan, Managing Director, Deloitte. “Place greater value on flexibility, agility, and speed to market, thus creating the room for the adoption of digital capabilities/engagement models that continue to proliferate in the marketplace.”

 

Learn more by downloading the Insurance Billing and Payments: From Back Office Calculators to Channel Growth Accelerators report by emailing info@majesco.com.

 

About Majesco

Majesco is the leading software partner to both the P&C and L&A insurance markets to modernize, optimize and innovate their businesses at speed and scale. Over 330 insurers, from greenfields, start-ups and MGAs to the largest insurers, reinsurers and brokers use Majesco’s next generation SaaS platform solutions of core, data, and analytics, digital, distribution, absence management and a rich ecosystem marketplace of established and InsurTech partners to build the future of insurance.

 

Our technology, expertise and leadership help insurers innovate and connect to build the future of their business. With over 825 successful implementations and over 65% of our customers on Cloud with Majesco platform solutions, together we have an amazing track record of innovation and real-world results. For more details on Majesco, please visit www.majesco.com.

Contacts

Laura Tillotson

Director, Marketing Communications and Creative Services

+ 201 230 0752

Laura.Tillotson@majesco.com

Categories
Business Lifestyle

Strategic Capital completes Jersey City’s highest priced condo sale at 75 Park Lane

Penthouse sold for $5.7 million

 

NEW YORK — (BUSINESS WIRE) — #jerseycityrealestate–Strategic Capital, the real estate investment and development platform of China Construction America, is pleased to announce the closing of a 4-bedroom, 4.5-bathroom penthouse with an 800 sq. ft. terrace at 75 Park Lane for $5.7 million, which sets a record for the highest priced condo sale on New Jersey’s Gold Coast.


75 Park Lane, the luxurious high-rise condominium in Jersey City’s idyllic Newport neighborhood, offers the rare opportunity to live in a Manhattan-caliber high-rise tower with panoramic city and river views and resort-like five-star amenities. 75 Park Lane is part of the larger Park and Shore development, which comprises two exquisite residential buildings with a total of 429 condominiums.

 

Designed by the critically-acclaimed architecture and interior design firm Woods Bagot, the ultra-luxurious 37-story 75 Park Lane offers 358 residences that range in size from studios to three-bedroom homes, as well as spectacular penthouses. Every residence boasts masterfully conceived layouts and modern yet timeless interiors including wide-plank oak floors and oversized windows. The elegantly designed open-plan chef’s kitchens feature Madreperola Quartzite waterfall islands and countertops, state-of-the-art Bosch appliances and custom-crafted walnut millwork trimmed in satin nickel.

 

75 Park Lane enjoys a collection of best-in-class amenities designed to provide the ultimate recreational, social and fitness experiences. The luxurious shared spaces include an indoor heated swimming pool, wine-tasting lounge with private dining room, putting green, children’s play area, co-working lounge, game room, multi-purpose entertainment room, gracious porte cochère entrance and Sky Lounge complete with a chef’s table, terrace and stunning views of the New York City skyline.

 

About Strategic Capital

Established in 1985, China Construction America (CCA) is a subsidiary of China State Construction Engineering Corp. Ltd. (CSCEC), one of the world’s largest investment and construction groups listed on Shanghai Stock Exchange. CSCEC was ranked 13th among Fortune Global 500 companies and has been No. 1 on ENR’s Global Contractors list for six years in a row.

 

CCA is headquartered in Jersey City, NJ, and operates mainly in the US East Coast and Gulf Coast states, the Caribbean and Latin American countries. CCA owns four business divisions covering building construction, infrastructure, and real estate development. It acquired one of New York City’s most prominent builder Plaza Construction from the Fisher family in 2014. As an accomplished contractor and real estate developer, CCA stays laser-focused on achieving operational and managerial excellence since its inception.

 

Strategic Capital is the real estate investment and development platform of CCA. It develops, owns and operates mixed types of properties in New York, New Jersey and Texas. Targeting growing markets with high barriers to entry and limited supply, its current portfolio features best-in-class commercial and residential assets across the risk spectrum from opportunistic to core.

 

Additional details: https://parkandshore.com/park-lane

Contacts

Darren Bettencourt, Media Liaison, darren@bettencourtcreative.com, 310-270-6483

Categories
Business Technology

FREE ASCO Power Technologies webinar on Advanced Power Control System Applications

  • The free, one-hour, online event will address key topics about power control systems and paralleling switchgear.
  • Participants will learn about switchgear controls, designs, operation, and applications.
  • Attendees can earn 1.0 PDH Credit.

 

FLORHAM PARK, N.J. — (BUSINESS WIRE) — As part of its Learning Series Webinar, ASCO Power Technologies will host a webinar on February 16 exploring power control system applications for critical power systems. Sixty minutes in length, ASCO Learning Series: Power Control System: Basic to Advance Applications is a live webinar that will be FREE to power industry professionals, engineers, facility managers, and technicians.

By participating in the event, attendees will learn about the following Power Control System topics:

  • Basic Paralleling Switchgear Controls & Components
  • Paralleling Switchgear Modes of Operation
  • Paralleling Switchgear Applications
  • Basic Low Voltage Commercial Applications
  • Healthcare Applications
  • Medium Voltage Applications

 

About the Speaker

Peter Rossomando – Director of Applications Engineering, ASCO Power Technologies.

Peter Rossomando has more than 37 years of experience in delivering critical power solutions for some of the most sophisticated and severe applications in the industry. His extensive knowledge of power systems, paralleling gear, load transfer switches, and inter-device control and communication technologies enables ASCO customers and staff solve their greatest backup challenges.

 

Registration Information

The event will be held at 11:00 AM Eastern Daylight Time on February 16, 2022. All interested professionals are encouraged to register now for this free event by visiting www.ascopower.com.

 

About ASCO Power Technologies

ASCO Power Technologies has provided power reliability solutions for more than 125 years. The firm designs, manufactures, services, and supports automatic transfer switches, power control equipment, load banks, and critical power management appliances. ASCO products serve mission-critical functions in data centers, healthcare facilities, telecommunication networks, commercial buildings, and industrial operations. To learn more about any of ASCO’s premium products and services, call (800) 800 ASCO (2726), email CustomerCare@Ascopower.com, or visit www.ascopower.com. To receive updates on the latest news and updates, follow ASCO’s Facebook and LinkedIn.

Contacts

Laurence Grodsky

+ 1 973 307 7352

Larry.Grodsky@ascopower.com

Categories
Business

Best’s Market Segment Report: More self-insured plans drive stop-loss segment growth

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance–With more U.S. employers shifting to self-funded health plans to contain employee benefit costs, the stop-loss insurance segment has experienced growth exceeding 10% in each of the past four years, reaching $25.2 billion in 2020, according to an AM Best report.

The Best’s Market Segment Report notes that self-funded insurance has become more attractive since the implementation of the Affordable Care Act, which has resulted in a major shift in the commercial health employer group insurance market – the largest market for health insurers. Other key takeaways in the report, titled, “More Self-Insured Plans Drive Stop-Loss Segment Growth,” include the following:

 

  • The medical loss ratio (MLR) decrease of 100 basis points to 81.7% in 2020 was less steep than the decrease in the fully insured market.
  • More small groups have been purchasing stop-loss insurance through level-funded products.
  • The top 10 stop-loss writers generate nearly three quarters of premium.
  • The amount of claims covered by stop-loss carriers also has been rising with the rising number of costly medical treatments.

 

“Stop-loss writers have more rate flexibility than the direct commercial segment; however, stop-loss claims have risen over the past 10 years,” said Doniella Pliss, director, AM Best. “In some cases, rate increases have reached the low double digits to match the claims trend, but overall, stop-loss rates have generally risen more quickly compared with group commercial health products.”

 

Technological advances play a significant role in the stop-loss insurance segment, as employer groups are looking for more administrative customization and flexibility, while providers prefer greater connectivity and faster claims settlement. In addition, employer groups want stop-loss carriers to actively manage high-cost claims and be able to optimize and direct the medical treatments.

 

“Large stop-loss insurers with more robust technological investments have an advantage, but as the group size of stop-loss customers has decreased over the past decade, some smaller stop-loss carriers have successfully retained customers based on more personalized service,” said Wayne Kaminski, senior financial analyst, AM Best.

 

Interest in self-funding continues to rise, even throughout the pandemic. AM Best believes that stop-loss carriers’ strength in managing high-dollar medical claims efficiently and offering more customized financial solutions to employer groups will drive the competition in the stop-loss market in the near to medium term.

 

To access the full copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=317040.

 

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 © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Wayne Kaminski
Senior Financial Analyst
+1 908 439 2200, ext. 5061
wayne.kaminski@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

Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Categories
Business

AM Best removes from under review with developing implications and affirms credit ratings for members of Lancer Insurance Group and affiliate

OLDWICK, N.J. — (BUSINESS WIRE) — #insuranceAM Best has removed from under review with developing implications and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of Lancer Insurance Company (Chicago, IL) and Lancer Insurance Company of New Jersey (Ewing, NJ), referred to as the Lancer Insurance Group. Concurrently, AM Best has removed from under review with developing implications and affirmed the FSR of A- (Excellent) and the Long-Term ICR of “a-” (Excellent) of Lancer Indemnity Company (Lancer Indemnity) (Long Beach, NY). The outlook assigned to these Credit Ratings (ratings) is stable.

These rating actions follow the closing of the merger between Lancer Insurance Group and Core Specialty Insurance Holdings, Inc. (Core Specialty), which was executed via a stock and cash transaction announced on April 16, 2021. Going forward, Lancer Insurance Group will operate as a division of Core Specialty, while retaining its legacy brand, distribution partners and long-standing management team. Additionally, Lancer’s co-founder and CEO, David Delaney, has taken an ownership interest in Core Specialty and was appointed to the board, effective Dec. 31, 2021.

 

AM Best has removed the group affiliation on the ratings of Lancer Indemnity, reflecting its divestiture from Lancer Insurance Group, as the company— a former member of the group prior to the merger—was not part of the merger agreement.

 

While the ratings of Lancer Insurance Group take into consideration the additional financial flexibility afforded to the group by being part of a larger organization, they also reflect the group’s post-acquisition balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

 

Based on the nature of the acquisition, operating results for the group are expected to be on par with historical levels, with no changes to the group’s strategic business plans nor any material integration issues expected in the near term. While it is anticipated that the combination of the two groups could have an accretive impact on their business profiles, further assimilation into the new organization will need to take place before any consideration can be given.

 

The ratings of Lancer Indemnity reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate ERM. The ratings also consider its divestiture from the group, the disadvantages of reduced financial flexibility offset by a substantial capital infusion at year-end 2021, which bolstered overall risk-adjusted capitalization and supports the very strong balance sheet strength. Lancer Indemnity’s operating performance is expected to be in line with historical profitability levels. Going forward, AM Best expects the business profile to remain at limited and the company will continue to primarily focus on commercial multiperil coverage for small- to medium-sized retail entities in New York, New Jersey, Connecticut and Pennsylvania. AM Best considers Lancer Indemnity’s enterprise risk management to be appropriate, as the company will continue utilize the same systems, people and resources via a service agreement with Lancer Management Company.

 

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 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 © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Edward J. Zonenberg

Senior Financial Analyst
+1 908 439 2200, ext. 5135
edward.zonenberg@ambest.com

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

Daniel J. Ryan
Senior Director
+1 908 439 2200, ext. 5325
daniel.ryan@ambest.com

Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Categories
Business

AM Best affirms credit ratings of Sun Life Financial Inc. and its subsidiaries

OLDWICK, N.J. — (BUSINESS WIRE) — #insuranceAM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” (Superior) of Sun Life Assurance Company of Canada (Sun Life) (Ontario, Canada) and Sun Life and Health Insurance Company (U.S.) (Lansing, MI) – the core insurance subsidiaries of Sun Life Financial Inc. (SLF) (Ontario, Canada) [NYSE: SLF] (collectively referred to as Sun Life Group). Concurrently, AM Best has affirmed the Long-Term ICR of “a” (Excellent) and the existing Long-Term Issue Credit Ratings (Long-Term IR) of SLF.

Additionally, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of “a-” (Excellent) of Independence Life and Annuity Company (Independence) (Wilmington, DE), a strategic subsidiary of SLF. Lastly, AM Best has affirmed the FSR of B++ (Good) and the Long-Term ICR of “bbb+” (Good) of Professional Insurance Company (Dallas, TX), an SLF run-off subsidiary. The outlook of these Credit Ratings (ratings) is stable. (Please see below for a detailed listing of the Long-Term IRs).

 

The ratings of Sun Life Group reflect its balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and very strong enterprise risk management (ERM).

 

Sun Life Group maintains a solid balance sheet position and well-diversified business profile with superior distribution capabilities and significantly reduced exposure to the low interest rate environment due to its focus on growing its asset management and group benefits businesses, as well as its non-life products in Asia. The group maintains a very strong level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy (BCAR), and strong liquidity throughout the organization with strong cash flows, moderate financial leverage, a liquid investment portfolio, and a significant amount of cash and short-term investments at the holding company as an additional buffer. The balance sheet also continues to be bolstered by favorable earnings in its core segments while continuing to grow overall revenue despite the negative impacts from the COVID-19 pandemic.

 

While Sun Life Group has focused on reducing volatility within the liability structure of its product offerings, its earnings remain moderately exposed to equity market volatility and changes in interest rates, as well as fluctuations in foreign currencies. The companies’ wealth management segment continues to bolster the group’s assets under management during this time. Nonetheless, the group’s earnings remain susceptible to an increased level of volatility within the financial markets. Sun Life Group also conducts an extensive array of sensitivity and stress testing beyond what is required by regulators including impacts on earnings, regulatory capital and liquidity, which provides protection to the group’s global risk profile.

 

The ratings of Independence reflect its balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, very limited business profile and very strong ERM. The company’s strategic importance to Sun Life Group has increased recently as it began writing stop-loss insurance in 2020 as part of Sun Life’s Fullscope RMS business. AM Best believes that Independence will benefit from its parent company’s significant experience in the stop-loss insurance market and synergies from its turnkey administrative platform.

 

The ratings of Professional Insurance Company reflect its balance sheet strength, which AM Best assesses as strongest, as well as its marginal operating performance, very limited business profile and very strong ERM.

 

The following Long-Term IRs have been affirmed with stable outlooks:

Sun Life Financial Inc.—

–“a-” (Excellent) on CAD 400 million 2.75% subordinated debentures, due 2027

–“a-” (Excellent) on CAD 1,000 billion 3.05% subordinated debentures, due 2028

–“a-” (Excellent) on CAD 750 million 2.38% subordinated debentures, due 2029

–“a-” (Excellent) on CAD 1,000 billion 2.58% subordinated debentures, due 2032

–“a-” (Excellent) on CAD 750 million 2.06% subordinated debentures, due 2035

–“a-” (Excellent) on CAD 400 million 5.40% subordinated debentures, due 2042

–“bbb+” (Good) on CAD 250 million 4.45% Class A non-cumulative preferred shares, Series 3

–“bbb+” (Good) on CAD 300 million 4.45% Class A non-cumulative preferred shares, Series 4

–“bbb+” (Good) on CAD 250 million 4.50% Class A non-cumulative preferred shares, Series 5

–“bbb+” (Good) on CAD 155 million 1.825% Class A non-cumulative preferred shares, Series 8R

–“bbb+” (Good) on CAD 125 million floating rate Class A non-cumulative preferred shares, Series 9QR

–“bbb+” (Good) on CAD 173 million 2.842% Class A non-cumulative preferred shares, Series 10R (CAD 171 million outstanding at 2.967%)

–“bbb+” (Good) on CAD 27 million floating rate Class A non-cumulative preferred shares, Series 11QR (CAD 29 million outstanding)

The following Long-Term IRs have been affirmed with stable outlooks:

Sun Life Assurance Company of Canada—

–“a+” (Excellent) on CAD 150 million 6.30% subordinated debentures, Series 2, due 2028 (originally issued by Clarica Life Insurance Company)

Sun Life Capital Trust—

— “a” (Excellent) on CAD 200 million 7.09% non-cumulative Sun Life ExchangEable Capital Securities, call date 2032

The following indicative Long-Term IRs have been affirmed with stable outlooks:

Sun Life Financial Inc.—

— “a” (Excellent) on senior unsecured debt

— “a-” (Excellent) on subordinated debt

— “bbb+” (Good) on preferred shares

 

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 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 © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Anthony McSwieney
Senior Financial Analyst
+1 908 439 2200, ext. 5171
anthony.mcswieney@ambest.com

Michael Adams
Associate Director
+1 908 439 2200, ext. 5133
michael.adams@ambest.com

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

Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Categories
Business Culture

Plum Life and London Underwriters jointly announce new distribution agreement

New Agreement will give over 8,000 wholesale Property and Casualty agents access to the Plum Life Insurance Selling Platform

 

BERKELEY HEIGHTS, N.J. — (BUSINESS WIRE) — #helloplum–Plum Life Inc. and London Underwriters jointly announced today a new distribution agreement that will give London Underwriters’ 8000 agents access to Plum Life’s 100% digital selling platform. Plum Life’s friction-free experience simplifies the selling process for agents and still provides highly competitive coverage for clients.

“We’re very excited about the opportunity to work with Plum Life,” says Jessica Gutheil, CMO of London Underwriters. “We see demand for life insurance products increasing,” says Gutheil. “And with Plum Life now available to our agents, we can easily offer affordable life coverage to our clients. The simplicity and ease of the Plum solution is a perfect fit for our agents and our clients love the completely digital experience.”

 

With highly competitive pricing, automated case management and the ability to get quick decisions, Plum Life was built for agents who do not want to spend time on administration. The simplicity of the platform is also attractive to agents who have traditionally stayed away from life insurance.

 

“We’ve always believed our solution is ideal for agents outside the core life insurance space. Our simplified approach makes it easy and empowers new agents to sell life insurance,” says Manish Bhatt, CEO & Co-Founder of Plum Life. “Working with London Underwriters expands our reach and ensures more clients have access to life insurance and are getting the coverage they need,” says Bhatt.

 

Additionally, the Plum Life portal gives insurance agents access to a suite of digital marketing tools to help agents find new clients. Agents can also interact with clients within the portal, send reminders and track the progress of a case.

 

About Plum Life

Plum Life is on a mission to create the ideal life insurance experience where the confidence of working with an advisor and the ease and convenience of buying online meet in one place. At its core, Plum Life is a Life Insurance technology company. The company offers an agent-only digital experience designed to simplify the entire process of selling life insurance from quoting to application to issue. Designed especially for the life insurance industry, Plum Life’s integrated platform combines the capabilities of a modern technology company and the personal attention and service of an advisor. Founded in 2020, and based in Berkley Heights, New Jersey, the company leverages its proprietary technology platform fueled by Machine Learning, Behavioral Science, AI and Swiss Re’s Magnum. Learn more at www.helloplum.com.

 

About London Underwriters

London Underwriters is an insurance wholesale broker that specializes in writing property and casualty insurance. As the nation’s largest Insurtech distributor, London Underwriters offers their appointed agents several Insurtech programs where agents can quote and bind online plus hundreds of traditional brokerage markets they can submit business to. If you are interested in becoming an appointed agency of London Underwriters, visit www.londonuw.com for more information.

 

Access helloplum.com/presskit for information.

Contacts

Media:

Rahim Rajpar

CMO & Co-Founder

Plum Life

617 939 1312

rahim@helloplum.com

Media:

Jessica Gutheil

CMO

London Underwriters

(786) 870-4092

jg@londonuw.com

Categories
Business

Equity Group Investments partners with East Coast Warehouse

CHICAGO — (BUSINESS WIRE) — Equity Group Investments (EGI), Sam Zell’s private investment firm, today announced an investment in East Coast Warehouse (ECW), a leading provider of temperature-controlled logistics to the food and beverage industry. EGI is partnering with ECW’s senior management team, who will continue leading the business and retain an ownership stake in the company. The partnership provides additional capital for add-on acquisitions and strategic support for the organization as it expands into new geographies. EGI President Mark Sotir, Managing Director Evan Harwood, and Vice President Tyler Goldstein join ECW’s board of directors alongside CEO Jamie Overley.

“With more than 65 years in operation, ECW is well-established in the temperature-controlled logistics space and has excelled under Jamie’s leadership,” said Sotir. “EGI has a proven track record of successfully scaling up companies in the transportation and real estate sectors. This alignment offers an exciting opportunity to partner with ECW through its next growth phase within an industry that continues to expand and experience tremendous advancements.”

 

“We are proud to partner with EGI as we build upon our expansions into Baltimore and Savannah and look toward other regions across the country for our next phase of growth,” said Overley. “This partnership will allow us to continue to execute our vision of providing an end-to-end national temperature-controlled third-party logistics solution with regional expertise and commitment to providing our customers with seamless capabilities and unmatched service.”

 

Headquartered in Elizabeth, New Jersey, ECW operates 72 million cubic feet of temperature-controlled and ambient warehouse space at the Ports of New York/New Jersey, Philadelphia, Baltimore and Savannah. In addition to its port-based warehousing services, ECW provides container drayage, local and regional trucking, national freight brokerage and customs exam services, offering shippers a fully integrated supply chain solution.

 

“We continue to see significant opportunity in differentiated logistics businesses like ECW,” commented Harwood. “ECW’s port-based strategy and its suite of end-to-end supply chain services make the company a leader in its markets and support its long-standing relationships with some of the largest shippers in the food and beverage industry.”

 

Terms of the transaction were not disclosed.

About Equity Group Investments

Equity Group Investments (EGI), founded by Sam Zell more than 50 years ago, has a long track record of building public and private businesses, including the origination and growth of multi-billion-dollar companies. EGI’s flexible capital and open investment mandate enable the firm to pursue opportunistic transactions across industries and geographies, throughout the capital structure, at any point in the economic cycle. EGI’s current portfolio includes investments in transportation and logistics, energy, waste and infrastructure, manufacturing, healthcare, agribusiness and real estate. For more information, visit www.egizell.com.

 

About East Coast Warehouse & Distribution

For more than 65 years, East Coast Warehouse & Distribution has served as a preeminent third-party logistics (3PL) provider, offering integrated temperature-controlled logistics services to food and beverage importers. Its state-of-the-art facilities totaling 72 million cubic feet, strategically located on the Ports of New York/New Jersey, Philadelphia, Baltimore, and Savannah, expedited customs exam services, transportation capabilities and value-added services, offer clients a 3PL end-to-end solution that is sophisticated and seamless. For more information, please visit www.eastcoastwarehouse.com.

Contacts

Lesley Cheers, Senior Director, Communications, EGI

Tel: 312.466.3467

Email: lcheers@egii.com

Meredith Rovine, Vine Public Relations

Tel: 610.212.4950

Email: meredith@vinepublicrelations.com

Categories
Business Science

European Commission approves Merck’s KEYTRUDA® (pembrolizumab) as adjuvant therapy for certain patients with renal cell carcinoma (RCC) following surgery

KEYTRUDA Is Now Approved as Monotherapy for Adults With RCC at Increased Risk of Recurrence Following Nephrectomy, or Following Nephrectomy and Resection of Metastatic Lesions

KEYTRUDA Is the First Immunotherapy Approved in Europe in the Adjuvant Setting for These Patients With RCC

 

KENILWORTH, N.J. — (BUSINESS WIRE) — $MRK #MRK–Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced that the European Commission has approved KEYTRUDA, Merck’s anti-PD-1 therapy, as monotherapy for the adjuvant treatment of adults with renal cell carcinoma (RCC) at increased risk of recurrence following nephrectomy, or following nephrectomy and resection of metastatic lesions. This approval is based on results from the Phase 3 KEYNOTE-564 trial, in which KEYTRUDA demonstrated a statistically significant improvement in disease-free survival (DFS), reducing the risk of disease recurrence or death by 32% (HR=0.68 [95% CI, 0.53-0.87]; p=0.0010) after a median follow-up of 23.9 months compared to placebo, in patients at increased risk of recurrence (defined in the clinical trial protocol as intermediate-high or high risk following nephrectomy and those with resected advanced disease).

“KEYTRUDA addresses a critical unmet need for treatment options that help patients reduce their risk of cancer returning following surgery,” said Dr. Thomas Powles, professor of Genitourinary Oncology and director of Barts Cancer Centre at St. Bartholomew’s Hospital. “The European Commission’s approval of KEYTRUDA brings certain patients with renal cell carcinoma a long-awaited therapy that has demonstrated a statistically significant reduction in the risk of disease recurrence or death by almost a third.”

 

“KEYTRUDA is the first adjuvant therapy approved for certain patients with renal cell carcinoma in Europe, providing the option of immunotherapy earlier in the course of their treatment,” said Dr. Scot Ebbinghaus, vice president, clinical research, Merck Research Laboratories. “This approval demonstrates our progress in bringing KEYTRUDA to patients with earlier stages of cancer, with the goal of helping more patients around the globe prevent disease recurrence.”

 

This approval allows marketing of KEYTRUDA monotherapy in all 27 European Union member states plus Iceland, Lichtenstein, Norway and Northern Ireland.

 

Merck has a broad clinical development program exploring KEYTRUDA, as monotherapy or in combination, as well as several other investigational and approved medicines across multiple settings and stages of RCC, including adjuvant and advanced or metastatic disease.

 

Data Supporting the European Approval

The approval was based on data from KEYNOTE-564 (NCT03142334), a multicenter, randomized, double-blind, placebo-controlled Phase 3 trial that enrolled 994 patients with increased risk of recurrence of RCC defined as intermediate-high or high risk, or M1 with no evidence of disease (NED). Patients must have undergone a partial or radical complete nephrectomy (and complete resection of solid, isolated, soft tissue metastatic lesion[s] in M1 NED participants) with negative surgical margins for at least four weeks prior to the time of screening. Patients with active autoimmune disease or a medical condition that required immunosuppression were excluded from the study. The primary efficacy outcome measure was investigator-assessed DFS. The secondary efficacy outcome measure was overall survival (OS). Patients with RCC with clear cell component were randomized (1:1) to receive KEYTRUDA 200 mg administered intravenously every three weeks (n=496) or placebo (n=498) for up to one year until disease recurrence or unacceptable toxicity.

 

At a pre-specified interim analysis with a median follow-up time of 23.9 months, KEYTRUDA demonstrated a statistically significant improvement in DFS, reducing the risk of disease recurrence or death by 32% (HR=0.68 [95% CI, 0.53-0.87]; p=0.0010) compared with placebo in patients with RCC at increased risk of recurrence following nephrectomy, or following nephrectomy and resection of metastatic lesions. Updated efficacy results with a median follow-up time of 29.7 months demonstrated KEYTRUDA reduced the risk of disease recurrence or death by 37% (HR=0.63 [95% CI, 0.50-0.80]; p<0.0001) compared with placebo. Median DFS has not been reached for either group. The trial will continue to assess OS as a secondary outcome measure.

 

The safety of KEYTRUDA as monotherapy has been evaluated in 7,148 patients with advanced melanoma, resected stage III melanoma (adjuvant therapy), non-small cell lung cancer, classical Hodgkin lymphoma, urothelial carcinoma, head and neck squamous cell carcinoma, colorectal cancer, endometrial, gastric, small intestine, biliary, pancreatic cancer or adjuvant therapy of RCC across four doses (2 mg/kg bodyweight [bw] every three weeks, 200 mg every three weeks, or 10 mg/kg bw every two or three weeks) in clinical studies. In this patient population, the most frequent adverse reactions with KEYTRUDA were fatigue (31%), diarrhea (22%) and nausea (21%). The majority of adverse reactions reported for KEYTRUDA monotherapy were of Grades 1 or 2 severity. The most serious adverse reactions were immune-related adverse reactions and severe infusion-related reactions. The incidences of immune-related adverse reactions were 36.1% for all Grades and 8.9% for Grades 3-5 for KEYTRUDA monotherapy in the adjuvant setting (n=1,480) and 24.2% for all Grades and 6.4% for Grades 3-5 in the metastatic setting (n=5,375). No new immune-related adverse reactions were identified in the adjuvant setting.

 

About Renal Cell Carcinoma

Renal cell carcinoma is by far the most common type of kidney cancer; about nine out of 10 kidney cancer diagnoses are RCCs. Renal cell carcinoma is about twice as common in men than in women. Most cases of RCC are discovered incidentally during imaging tests for other abdominal diseases. Worldwide, it is estimated there were more than 431,000 new cases of kidney cancer diagnosed and more than 179,000 deaths from the disease in 2020. In Europe, it is estimated there were more than 138,000 new cases of kidney cancer diagnosed and more than 54,000 deaths from the disease in 2020.

 

About Merck’s Early-Stage Cancer Clinical Program

Finding cancer at an earlier stage may give patients a greater chance of long-term survival. Many cancers are considered most treatable and potentially curable in their earliest stage of disease. Building on the strong understanding of the role of KEYTRUDA in later-stage cancers, Merck is studying KEYTRUDA in earlier disease states, with approximately 20 ongoing registrational studies across multiple types of cancer.

 

About KEYTRUDA® (pembrolizumab) Injection, 100 mg

KEYTRUDA is an anti-programmed death receptor-1 (PD-1) therapy that works by increasing the ability of the body’s immune system to help detect and fight tumor cells. KEYTRUDA is a humanized monoclonal antibody that blocks the interaction between PD-1 and its ligands, PD-L1 and PD-L2, thereby activating T lymphocytes which may affect both tumor cells and healthy cells.

 

Merck has the industry’s largest immuno-oncology clinical research program. There are currently more than 1,700 trials studying KEYTRUDA across a wide variety of cancers and treatment settings. The KEYTRUDA clinical program seeks to understand the role of KEYTRUDA across cancers and the factors that may predict a patient’s likelihood of benefitting from treatment with KEYTRUDA, including exploring several different biomarkers.

 

Selected KEYTRUDA® (pembrolizumab) Indications in the U.S.

Melanoma

KEYTRUDA is indicated for the treatment of patients with unresectable or metastatic melanoma.

KEYTRUDA is indicated for the adjuvant treatment of adult and pediatric (12 years and older) patients with stage IIB, IIC, or III melanoma following complete resection.

 

Non-Small Cell Lung Cancer

KEYTRUDA, in combination with pemetrexed and platinum chemotherapy, is indicated for the first-line treatment of patients with metastatic nonsquamous non-small cell lung cancer (NSCLC), with no EGFR or ALK genomic tumor aberrations.

 

KEYTRUDA, in combination with carboplatin and either paclitaxel or paclitaxel protein-bound, is indicated for the first-line treatment of patients with metastatic squamous NSCLC.

 

KEYTRUDA, as a single agent, is indicated for the first-line treatment of patients with NSCLC expressing PD-L1 [Tumor Proportion Score (TPS) ≥1%] as determined by an FDA-approved test, with no EGFR or ALK genomic tumor aberrations, and is:

  • stage III where patients are not candidates for surgical resection or definitive chemoradiation, or
  • metastatic.

 

KEYTRUDA, as a single agent, is indicated for the treatment of patients with metastatic NSCLC whose tumors express PD-L1 (TPS ≥1%) as determined by an FDA-approved test, with disease progression on or after platinum-containing chemotherapy. Patients with EGFR or ALK genomic tumor aberrations should have disease progression on FDA-approved therapy for these aberrations prior to receiving KEYTRUDA.

 

Head and Neck Squamous Cell Cancer

KEYTRUDA, in combination with platinum and fluorouracil (FU), is indicated for the first-line treatment of patients with metastatic or with unresectable, recurrent head and neck squamous cell carcinoma (HNSCC).

 

KEYTRUDA, as a single agent, is indicated for the first-line treatment of patients with metastatic or with unresectable, recurrent HNSCC whose tumors express PD-L1 [Combined Positive Score (CPS) ≥1] as determined by an FDA-approved test.

 

KEYTRUDA, as a single agent, is indicated for the treatment of patients with recurrent or metastatic HNSCC with disease progression on or after platinum-containing chemotherapy.

 

Classical Hodgkin Lymphoma

KEYTRUDA is indicated for the treatment of adult patients with relapsed or refractory classical Hodgkin lymphoma (cHL).

KEYTRUDA is indicated for the treatment of pediatric patients with refractory cHL, or cHL that has relapsed after 2 or more lines of therapy.

 

Primary Mediastinal Large B-Cell Lymphoma

KEYTRUDA is indicated for the treatment of adult and pediatric patients with refractory primary mediastinal large B-cell lymphoma (PMBCL), or who have relapsed after 2 or more prior lines of therapy.

 

KEYTRUDA is not recommended for treatment of patients with PMBCL who require urgent cytoreductive therapy.

 

Urothelial Carcinoma

KEYTRUDA is indicated for the treatment of patients with locally advanced or metastatic urothelial carcinoma (mUC):

  • who are not eligible for any platinum-containing chemotherapy, or
  • who have disease progression during or following platinum-containing chemotherapy or within 12 months of neoadjuvant or adjuvant treatment with platinum-containing chemotherapy.

 

KEYTRUDA is indicated for the treatment of patients with Bacillus Calmette-Guerin-unresponsive, high-risk, non-muscle invasive bladder cancer (NMIBC) with carcinoma in situ with or without papillary tumors who are ineligible for or have elected not to undergo cystectomy.

 

Microsatellite Instability-High or Mismatch Repair Deficient Cancer

KEYTRUDA is indicated for the treatment of adult and pediatric patients with unresectable or metastatic microsatellite instability-high (MSI-H) or mismatch repair deficient (dMMR) solid tumors that have progressed following prior treatment and who have no satisfactory alternative treatment options.

 

This indication is approved under accelerated approval based on tumor response rate and durability of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in the confirmatory trials. The safety and effectiveness of KEYTRUDA in pediatric patients with MSI-H central nervous system cancers have not been established.

 

Microsatellite Instability-High or Mismatch Repair Deficient Colorectal Cancer

KEYTRUDA is indicated for the treatment of patients with unresectable or metastatic MSI-H or dMMR colorectal cancer (CRC).

Gastric Cancer

 

KEYTRUDA, in combination with trastuzumab, fluoropyrimidine- and platinum-containing chemotherapy, is indicated for the first-line treatment of patients with locally advanced unresectable or metastatic HER2-positive gastric or gastroesophageal junction (GEJ) adenocarcinoma.

 

This indication is approved under accelerated approval based on tumor response rate and durability of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in the confirmatory trials.

 

Esophageal Cancer

KEYTRUDA is indicated for the treatment of patients with locally advanced or metastatic esophageal or GEJ (tumors with epicenter 1 to 5 centimeters above the GEJ) carcinoma that is not amenable to surgical resection or definitive chemoradiation either:

  • in combination with platinum- and fluoropyrimidine-based chemotherapy, or
  • as a single agent after one or more prior lines of systemic therapy for patients with tumors of squamous cell histology that express PD-L1 (CPS ≥10) as determined by an FDA-approved test.

 

Cervical Cancer

KEYTRUDA, in combination with chemotherapy, with or without bevacizumab, is indicated for the treatment of patients with persistent, recurrent, or metastatic cervical cancer whose tumors express PD-L1 (CPS ≥1) as determined by an FDA-approved test.

KEYTRUDA, as a single agent, is indicated for the treatment of patients with recurrent or metastatic cervical cancer with disease progression on or after chemotherapy whose tumors express PD-L1 (CPS ≥1) as determined by an FDA-approved test.

 

Hepatocellular Carcinoma

KEYTRUDA is indicated for the treatment of patients with hepatocellular carcinoma (HCC) who have been previously treated with sorafenib. This indication is approved under accelerated approval based on tumor response rate and durability of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in the confirmatory trials.

 

Merkel Cell Carcinoma

KEYTRUDA is indicated for the treatment of adult and pediatric patients with recurrent locally advanced or metastatic Merkel cell carcinoma (MCC). This indication is approved under accelerated approval based on tumor response rate and durability of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in the confirmatory trials.

 

Renal Cell Carcinoma

KEYTRUDA, in combination with axitinib, is indicated for the first-line treatment of adult patients with advanced renal cell carcinoma (RCC).

KEYTRUDA is indicated for the adjuvant treatment of patients with RCC at intermediate-high or high risk of recurrence following nephrectomy, or following nephrectomy and resection of metastatic lesions.

 

Tumor Mutational Burden-High Cancer

KEYTRUDA is indicated for the treatment of adult and pediatric patients with unresectable or metastatic tumor mutational burden-high (TMB-H) [≥10 mutations/megabase] solid tumors, as determined by an FDA-approved test, that have progressed following prior treatment and who have no satisfactory alternative treatment options. This indication is approved under accelerated approval based on tumor response rate and durability of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in the confirmatory trials. The safety and effectiveness of KEYTRUDA in pediatric patients with TMB-H central nervous system cancers have not been established.

 

Cutaneous Squamous Cell Carcinoma

KEYTRUDA is indicated for the treatment of patients with recurrent or metastatic cutaneous squamous cell carcinoma (cSCC) or locally advanced cSCC that is not curable by surgery or radiation.

Triple-Negative Breast Cancer

KEYTRUDA is indicated for the treatment of patients with high-risk early-stage triple-negative breast cancer (TNBC) in combination with chemotherapy as neoadjuvant treatment, and then continued as a single agent as adjuvant treatment after surgery.

KEYTRUDA, in combination with chemotherapy, is indicated for the treatment of patients with locally recurrent unresectable or metastatic TNBC whose tumors express PD-L1 (CPS ≥10) as determined by an FDA-approved test.

 

Selected Important Safety Information for KEYTRUDA

Severe and Fatal Immune-Mediated Adverse Reactions

KEYTRUDA is a monoclonal antibody that belongs to a class of drugs that bind to either the PD-1 or the PD-L1, blocking the PD-1/PD-L1 pathway, thereby removing inhibition of the immune response, potentially breaking peripheral tolerance and inducing immune-mediated adverse reactions. Immune-mediated adverse reactions, which may be severe or fatal, can occur in any organ system or tissue, can affect more than one body system simultaneously, and can occur at any time after starting treatment or after discontinuation of treatment. Important immune-mediated adverse reactions listed here may not include all possible severe and fatal immune-mediated adverse reactions.

 

Monitor patients closely for symptoms and signs that may be clinical manifestations of underlying immune-mediated adverse reactions. Early identification and management are essential to ensure safe use of anti–PD-1/PD-L1 treatments. Evaluate liver enzymes, creatinine, and thyroid function at baseline and periodically during treatment. For patients with TNBC treated with KEYTRUDA in the neoadjuvant setting, monitor blood cortisol at baseline, prior to surgery, and as clinically indicated. In cases of suspected immune-mediated adverse reactions, initiate appropriate workup to exclude alternative etiologies, including infection. Institute medical management promptly, including specialty consultation as appropriate.

 

Withhold or permanently discontinue KEYTRUDA depending on severity of the immune-mediated adverse reaction. In general, if KEYTRUDA requires interruption or discontinuation, administer systemic corticosteroid therapy (1 to 2 mg/kg/day prednisone or equivalent) until improvement to Grade 1 or less. Upon improvement to Grade 1 or less, initiate corticosteroid taper and continue to taper over at least 1 month. Consider administration of other systemic immunosuppressants in patients whose adverse reactions are not controlled with corticosteroid therapy.

 

Immune-Mediated Pneumonitis

KEYTRUDA can cause immune-mediated pneumonitis. The incidence is higher in patients who have received prior thoracic radiation. Immune-mediated pneumonitis occurred in 3.4% (94/2799) of patients receiving KEYTRUDA, including fatal (0.1%), Grade 4 (0.3%), Grade 3 (0.9%), and Grade 2 (1.3%) reactions. Systemic corticosteroids were required in 67% (63/94) of patients. Pneumonitis led to permanent discontinuation of KEYTRUDA in 1.3% (36) and withholding in 0.9% (26) of patients. All patients who were withheld reinitiated KEYTRUDA after symptom improvement; of these, 23% had recurrence. Pneumonitis resolved in 59% of the 94 patients.

 

Pneumonitis occurred in 8% (31/389) of adult patients with cHL receiving KEYTRUDA as a single agent, including Grades 3-4 in 2.3% of patients. Patients received high-dose corticosteroids for a median duration of 10 days (range: 2 days to 53 months). Pneumonitis rates were similar in patients with and without prior thoracic radiation. Pneumonitis led to discontinuation of KEYTRUDA in 5.4% (21) of patients. Of the patients who developed pneumonitis, 42% interrupted KEYTRUDA, 68% discontinued KEYTRUDA, and 77% had resolution.

 

Immune-Mediated Colitis

KEYTRUDA can cause immune-mediated colitis, which may present with diarrhea. Cytomegalovirus infection/reactivation has been reported in patients with corticosteroid-refractory immune-mediated colitis. In cases of corticosteroid-refractory colitis, consider repeating infectious workup to exclude alternative etiologies. Immune-mediated colitis occurred in 1.7% (48/2799) of patients receiving KEYTRUDA, including Grade 4 (<0.1%), Grade 3 (1.1%), and Grade 2 (0.4%) reactions. Systemic corticosteroids were required in 69% (33/48); additional immunosuppressant therapy was required in 4.2% of patients. Colitis led to permanent discontinuation of KEYTRUDA in 0.5% (15) and withholding in 0.5% (13) of patients. All patients who were withheld reinitiated KEYTRUDA after symptom improvement; of these, 23% had recurrence. Colitis resolved in 85% of the 48 patients.

 

Hepatotoxicity and Immune-Mediated Hepatitis

KEYTRUDA as a Single Agent

KEYTRUDA can cause immune-mediated hepatitis. Immune-mediated hepatitis occurred in 0.7% (19/2799) of patients receiving KEYTRUDA, including Grade 4 (<0.1%), Grade 3 (0.4%), and Grade 2 (0.1%) reactions. Systemic corticosteroids were required in 68% (13/19) of patients; additional immunosuppressant therapy was required in 11% of patients. Hepatitis led to permanent discontinuation of KEYTRUDA in 0.2% (6) and withholding in 0.3% (9) of patients. All patients who were withheld reinitiated KEYTRUDA after symptom improvement; of these, none had recurrence. Hepatitis resolved in 79% of the 19 patients.

 

KEYTRUDA With Axitinib

First-line treatment of advanced RCC in combination therapy with axitinib (KEYNOTE-426)

KEYTRUDA in combination with axitinib can cause hepatic toxicity. Monitor liver enzymes before initiation of and periodically throughout treatment. Consider monitoring more frequently as compared to when the drugs are administered as single agents. For elevated liver enzymes, interrupt KEYTRUDA and axitinib, and consider administering corticosteroids as needed. With the combination of KEYTRUDA and axitinib, Grades 3 and 4 increased alanine aminotransferase (ALT) (20%) and increased aspartate aminotransferase (AST) (13%) were seen at a higher frequency compared to KEYTRUDA alone. Fifty-nine percent of the patients with increased ALT received systemic corticosteroids. In patients with ALT ≥3 times upper limit of normal (ULN) (Grades 2-4, n=116), ALT resolved to Grades 0-1 in 94%. Among the 92 patients who were rechallenged with either KEYTRUDA (n=3) or axitinib (n=34) administered as a single agent or with both (n=55), recurrence of ALT ≥3 times ULN was observed in 1 patient receiving KEYTRUDA, 16 patients receiving axitinib, and 24 patients receiving both. All patients with a recurrence of ALT ≥3 ULN subsequently recovered from the event.

 

Immune-Mediated Endocrinopathies

 

Adrenal Insufficiency

KEYTRUDA can cause primary or secondary adrenal insufficiency. For Grade 2 or higher, initiate symptomatic treatment, including hormone replacement as clinically indicated. Withhold KEYTRUDA depending on severity. Adrenal insufficiency occurred in 0.8% (22/2799) of patients receiving KEYTRUDA, including Grade 4 (<0.1%), Grade 3 (0.3%), and Grade 2 (0.3%) reactions. Systemic corticosteroids were required in 77% (17/22) of patients; of these, the majority remained on systemic corticosteroids. Adrenal insufficiency led to permanent discontinuation of KEYTRUDA in <0.1% (1) and withholding in 0.3% (8) of patients. All patients who were withheld reinitiated KEYTRUDA after symptom improvement.

 

Hypophysitis

KEYTRUDA can cause immune-mediated hypophysitis. Hypophysitis can present with acute symptoms associated with mass effect such as headache, photophobia, or visual field defects. Hypophysitis can cause hypopituitarism.

Contacts

Media Contacts:

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(215) 407-3536

John Infanti

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Investor Contacts:

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(908) 740-1037

Damini Chokshi

(908) 740-1807

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Business Culture

Campbell named to 2022 Bloomberg Gender-Equality Index

CAMDEN, N.J. — (BUSINESS WIRE) — Campbell Soup Company (NYSE:CPB) today was named to the 2022 Bloomberg Gender-Equality Index (GEI), which tracks the performance of public companies committed to transparency in gender-data reporting. This year’s index includes 418 companies headquartered across 45 countries and regions. The GEI measures gender equality across five pillars: female leadership & talent pipeline, equal pay & gender pay parity, inclusive culture, anti-sexual harassment policies and pro-women brand.

Building a winning team and culture is a key element of our strategic plan, with a focus on creating an inclusive and diverse environment for all employees,” said Camille Pierce, Campbell’s Senior Vice President, Chief Culture Officer and Head of Talent. “We are committed to living our values and creating a culture where all employees feel safe, valued and supported to do their best work. We are proud to be included in the Bloomberg Gender-Equality Index for the fourth consecutive year.”

 

Campbell promotes gender equality at all levels with initiatives such as the Women’s Inclusion Network, an employee resource group which offers inclusive mentoring and sponsorship opportunities; partnering with the Network of Executive Women to provide employees with professional development and networking opportunities; and working with the nonprofit Path Forward to offer “returnships” to help midcareer professionals reenter the workforce after time spent caregiving. Campbell also offers opportunities to promote collaboration and drive awareness of inclusive mindsets and behaviors, and all salaried employees have a performance objective related to inclusion and diversity (I&D). Other Campbell programs and benefits in support of gender equality include on-site day care facilities at Campbell’s World Headquarters, competitive parental leave policies, adoption assistance, flexible work arrangements and job-sharing opportunities.

 

Campbell has an actionable I&D strategy focused on building capabilities, advocacy and accountability. The company has been recognized for its commitment to creating a more inclusive workplace, having been named one of America’s Best Employers for Diversity by Forbes, one of the World’s Top Female-Friendly Companies by Forbes and a Champion of Board Diversity by the Forum of Executive Women.

 

To learn more about I&D at Campbell, visit campbellsoupcompany.com/inclusion-diversity/.

 

About Campbell Soup Company

For more than 150 years, Campbell (NYSE: CPB) has been connecting people through food they love. Generations of consumers have trusted Campbell to provide delicious and affordable food and beverages. Headquartered in Camden, N.J. since 1869, Campbell generated fiscal 2021 net sales of nearly $8.5 billion. Our portfolio includes iconic brands such as Campbell’s, Cape Cod, Goldfish, Kettle Brand, Lance, Late July, Milano, Pace, Pacific Foods, Pepperidge Farm, Prego, Snyder’s of Hanover, Swanson and V8. Campbell has a heritage of giving back and acting as a good steward of the environment. The company is a member of the Standard & Poor’s 500 as well as the FTSE4Good and Bloomberg Gender-Equality Indices. For more information, visit www.campbellsoupcompany.com or follow company news on Twitter via @CampbellSoupCo.

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Media:
Amanda Pisano

(856) 342-8590

Amanda_Pisano@campbells.com