Category: Business

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Business

AM Best revises Issuer Credit Rating outlook to stable for Energy Insurance Mutual Limited

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance—AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) of Energy Insurance Mutual Limited (EIM) (Bridgetown, Barbados). The outlook of the Long-Term ICR has been revised to stable from positive, while the outlook of the FSR is stable.

The Credit Ratings (ratings) reflect EIM’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.

The stable Long-Term ICR outlook reflects EIM’s overall favorable operating performance, which AM Best expects to continue to enhance the company’s already solid balance sheet strength, despite the volatile nature of the business it writes. These rating factors are derived from EIM’s specialized expertise in providing insurance and risk management information and services to its members from the energy utility sector, as well as its ability to generate business opportunities through its niche market strategy. As a result of its strategy, EIM has strong member retention. The company remains committed to growth in capital and surplus, a well-diversified investment portfolio, and a focus on the long-term stability of the organization for its members.

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 media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

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 © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Fred Eslami

Associate Director

+1 908 439 2200, ext. 5406

fred.eslami@ambest.com

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

Daniel 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

JRW Realty sources over $49 million in net-leased essential properties in May

PASADENA, Calif. — (BUSINESS WIRE) — #Acquisitions—JRW Realty has sourced the all-cash acquisition of over $49 million in net-leased essential properties in May on behalf of its clients. The 11 properties acquired are tenanted by companies with strong corporate credit ratings, each of which remained open and operational throughout the pandemic, including Kroger, Giant Eagle, Walgreens, and Fresenius Medical Care.


The properties sourced by JRW Realty collectively span over 416,000 square feet and are located across eight states, including Texas, Tennessee, Ohio, and New Jersey. For each of the properties, JRW Realty’s buyers closed at contract price without a financing contingency. From inception to date, JRW Realty has closed over $2.4 billion in transaction volume on behalf of its clients.

JRW Realty is exclusively engaged by large, all-cash buyers that are actively seeking to acquire additional grocery-anchored shopping centers and net-leased properties that are leased to investment-grade and essential businesses. The clarity of JRW Realty’s clients’ strict acquisition criteria, the firm’s streamlined transaction processes, and its clients’ accessible balance sheet capital enable JRW Realty’s buyers to close transactions in 20 to 30 days after going under contract.

About JRW Realty

JRW Realty is a commercial real estate brokerage firm that has closed over $2.4 billion in transactions across over 575 properties on behalf of its clients. JRW Realty’s team places special focus on due diligence, reviewing over 100 properties each week and only choosing to source for clients the best 3-4% according to their rigorous acquisition criteria. For more information, visit www.jrwrealty.com.

Contacts

Multi-Tenant Retail Acquisitions Contact
Joel Staffilino

jstaffilino@jrwrealty.com
(513) 227-4502

Single-Tenant Net-Leased Acquisitions Contact
Melinda Marston

melinda@jrwrealty.com
(626) 696-2910

Media Inquiries
press@jrwrealty.com

Categories
Business

AM Best to discuss MGAs and MGUs at the Hudson Insurance Federation of New Jersey event

OLDWICK, N.J. — (BUSINESS WIRE) — AM Best’s Greg Williams will discuss the Best’s Performance Assessment for Delegated Underwriting Authority Enterprises (DUAE) at the Hudson Insurance Federation of New Jersey’s (HIF) virtual event on June 29 at 5 p.m. (EDT). Williams, a senior director of analytics, will join Greg Lang, founder of the Reinsurance and Insurance Network, for a panel discussion titled, “What’s Next for MGAs and MGUs?”

AM Best defines DUAE as a blanket term to capture managing general agents, managing general underwriters, coverholders, program administrators, program underwriters, underwriting agencies, direct authorizations and appointed representatives. AM Best introduced a draft methodology in March for the Best’s Performance Assessment (PA), which provides a framework for differentiating among DUAEs in the insurance industry. The Best’s PA is a forward-looking, independent and objective non-credit opinion.

 

The HIF is a member-driven trade association that supports leaders in the insurance industry in the Jersey City metro region and the State of New Jersey. HIF supports the insurance industry through educational programs focusing on important industry trends and current developments.

 

For more information, please visit the HIF’s event page.

 

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 © 2021 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Kate Smith
Associate Director, Public Relations
+1 908 439 2200, ext. 5817

kate.smith@ambest.com

Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644

james.peavy@ambest.com

Categories
Business

Best’s Market segment report: Individual annuity providers still challenged by low interest rates

OLDWICK, N.J. — (BUSINESS WIRE) — Despite COVID-19’s operational and sales impacts on the U.S. individual annuity industry, the bigger issue for writers remains the low interest rate environment, according to a new AM Best report.

The Best’s Market Segment Report, “Individual Annuity Providers Still Challenged by Low Interest Rates,” states the low interest rate environment continues to limit the levers insurers can pull without worsening their company risk profiles. Spread compression and declining investment yields have been a long-time concern as guaranteed rates on many older blocks of business remain a burden for many insurers. Increases in options, hedging costs and the net amount of assets at risk for companies writing guarantees with living benefits will further pressure operating performance.

Additionally, net premiums written (NPW) increased just twice in the last 10 years. The challenging 2020 sales environment amid the COVID-19 pandemic brought additional obstacles and individual annuity NPW declined by almost $54 billion, or 27%. Direct premiums written (DPW) did not decline as much in 2020—almost $13 billion, or 5.8%—as some companies ceded a greater portion to diminish their exposure to interest rate risk.

Variable annuities constitute the largest component of the individual annuity market, with $82.4 billion, or 56%, in NPW in 2020, despite declining by 3.6% from 2019. Indexed annuities declined by more than 54%, to $30.8 billion, the lowest premium total in the last five years after a significant increase in 2019. While NPW for fixed annuities dropped by 28% in 2020.

Some annuity markets are more competitive than others. The top 10 fixed annuity (FA) writers account for just 54% of the market, while the top 10 VA writers combine for over three quarters, and nearly two-thirds of the indexed annuity market. Sales varied in 2020 among the top writers, depending on the extent and emphasis of product de-risking. As interest rates reached historic lows, many insurers started to deemphasize fixed annuity sales, reinsure FA blocks of business, and reprice products. In some cases, companies have withdrawn interest-sensitive products from the market altogether, and in other cases, companies have increased pricing to the point of reducing new business volume to a trickle.

While most U.S. annuity companies have maintained solid balance sheets, owing largely to healthy risk-adjusted capitalization, adequate liquidity and prudent investment policies, AM Best’s market segment outlook for the industry remains negative. The negative market segment outlook is due to the persistent low interest rate environment, operating margin pressure and organic growth challenges.

To access the full copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=309634.

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 © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Brian Keleher
Industry Analyst, Industry
Research and Analytics
+1 908 439 2200, ext. 5586
brian.keleher@ambest.com

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

Jason Hopper
Associate Director, Industry
Research and Analytics
+1 908 439 2200, ext. 5016
jason.hopper@ambest.com

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

Categories
Business Healthcare

Teva announces the U.S. launch of its generic version of SOOLANTRA® (ivermectin) Cream, 1% for once daily treatment of rosacea

TEL AVIV, Israel & PARSIPPANY, N.J. — (BUSINESS WIRE) — Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd.(NYSE and TASE: TEVA), today announced the U.S. launch of its generic version of once daily SOOLANTRA® (ivermectin) Cream, 1% for the treatment of inflammatory lesions of rosacea.

With nearly 550 generic medicines available, Teva has the largest portfolio of FDA-approved generic products on the market. Currently, 1 in 11 generic prescriptions dispensed in the U.S. is filled with a Teva generic product.

SOOLANTRA® had annual sales of more than $115 million in the U.S., according to IQVIA data as of April 2021.

About Ivermectin Cream 1%

Ivermectin cream, 1% is a prescription medicine used for the treatment of inflammatory lesions of rosacea.

IMPORTANT SAFETY INFORMATION

Ivermectin cream, 1% is NOT for oral (by mouth), ophthalmic (in the eye), or intravaginal (in the vagina) use.

Pregnancy and Lactation: Ivermectin cream, 1% should be used during pregnancy only if the potential benefit outweighs any potential risk to the fetus. There is a potential for serious adverse reactions from ivermectin cream in nursing infants. A decision should be made with your doctor whether to discontinue nursing or to discontinue the drug.

Side Effects: Side effects include skin burning sensation and skin irritation. Talk to your doctor if you experience side effects and also about possible side effects that could occur. You may report side effects of prescription drugs to FDA at 1-800-FDA-1088 or www.fda.gov/medwatch.

Keep Ivermectin cream out of reach of children.

Please see the full Prescribing Information and Instructions for Use.

About Teva

Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) has been developing and producing medicines to improve people’s lives for more than a century. We are a global leader in generic and specialty medicines with a portfolio consisting of over 3,500 products in nearly every therapeutic area. Around 200 million people around the world take a Teva medicine every day, and are served by one of the largest and most complex supply chains in the pharmaceutical industry. Along with our established presence in generics, we have significant innovative research and operations supporting our growing portfolio of specialty and biopharmaceutical products. Learn more at www.tevapharm.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the launch of our generic version of SOOLANTRA® (ivermectin) Cream, 1% in the United States, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to:

  • the commercial success of our SOOLANTRA®(ivermectin) Cream, 1%;
  • our ability to successfully compete in the marketplace, including: that we are substantially dependent on our generic products; consolidation of our customer base and commercial alliances among our customers; delays in launches of new generic products; the increase in the number of competitors targeting generic opportunities and seeking U.S. market exclusivity for generic versions of significant products; our ability to develop and commercialize biopharmaceutical products; competition for our specialty products, including AUSTEDO®, AJOVY® and COPAXONE®; our ability to achieve expected results from investments in our product pipeline; our ability to develop and commercialize additional pharmaceutical products; and the effectiveness of our patents and other measures to protect our intellectual property rights;
  • our substantial indebtedness, which may limit our ability to incur additional indebtedness, engage in additional transactions or make new investments, may result in a further downgrade of our credit ratings; and our inability to raise debt or borrow funds in amounts or on terms that are favorable to us;
  • our business and operations in general, including: uncertainty regarding the magnitude, duration, and geographic reach of the COVID-19 pandemic and its impact on our business, financial condition, operations, cash flows, and liquidity and on the economy in general; our ability to successfully execute and maintain the activities and efforts related to the measures we have taken or may take in response to the COVID-19 pandemic and associated costs therewith; effectiveness of our optimization efforts; our ability to attract, hire and retain highly skilled personnel; manufacturing or quality control problems; interruptions in our supply chain; disruptions of information technology systems; breaches of our data security; variations in intellectual property laws; challenges associated with conducting business globally, including political or economic instability, major hostilities or terrorism; costs and delays resulting from the extensive pharmaceutical regulation to which we are subject or delays in governmental processing time due to travel and work restrictions caused by the COVID-19 pandemic; the effects of reforms in healthcare regulation and reductions in pharmaceutical pricing, reimbursement and coverage; significant sales to a limited number of customers; our ability to successfully bid for suitable acquisition targets or licensing opportunities, or to consummate and integrate acquisitions; and our prospects and opportunities for growth if we sell assets;
  • compliance, regulatory and litigation matters, including: failure to comply with complex legal and regulatory environments; increased legal and regulatory action in connection with public concern over the abuse of opioid medications and our ability to reach a final resolution of the remaining opioid-related litigation; scrutiny from competition and pricing authorities around the world, including our ability to successfully defend against the U.S. Department of Justice criminal charges of Sherman Act violations; potential liability for patent infringement; product liability claims; failure to comply with complex Medicare and Medicaid reporting and payment obligations; compliance with anti-corruption sanctions and trade control laws; and environmental risks;
  • other financial and economic risks, including: our exposure to currency fluctuations and restrictions as well as credit risks; potential impairments of our intangible assets; potential significant increases in tax liabilities; and the effect on our overall effective tax rate of the termination or expiration of governmental programs or tax benefits, or of a change in our business;

and other factors discussed in this press release and in our Annual Report on Form 10-K for the year ended December 31, 2020, including in the sections captioned “Risk Factors” and “Forward Looking Statements.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.

Contacts

IR Contacts

United States
Kevin C. Mannix (215) 591-8912

Israel
Yael Ashman 972 (3) 914-8262

PR Contacts
United States
Kelley Dougherty (973) 658-0237

Israel
Yonatan Beker 972 (54) 888 5898

Categories
Business Local News

Martin Foster joins Cenlar as senior vice president of Servicing Operations

EWING, N.J. — (BUSINESS WIRE) — Cenlar FSB, the nation’s leading mortgage loan subservicer and federally chartered wholesale bank, announced today that Martin “Marty” Foster, a 35-year veteran in the mortgage banking industry, has joined the company as Senior Vice President of Servicing Operations.

“We are pleased to have Marty on board at Cenlar. With his extensive knowledge and experience in every aspect of the mortgage banking industry, he is a great addition to our talented team,” said Rob Lux, Executive Vice President and Chief Operating Officer at Cenlar. “Marty will be responsible for automating processes and further building our high-performance team to improve the experience for both our clients and homeowners.”

Prior to joining Cenlar, Marty was Senior Vice President of Servicing and Post Closing at PHH Mortgage where he directed the mortgage servicing and post-closing operation across multiple sites. He has a history of utilizing technology to augment legacy systems and manual processes.

“At Cenlar, I want to enhance the execution in operations to drive more client satisfaction while ensuring regulatory and compliance requirements are met. My goal is to build upon the current operation by leveraging both people and technology to create a seamless subservicing platform that provides value to our clients and their homeowners,” said Marty.

About Cenlar FSB

Cenlar FSB is a federally chartered, employee-owned wholesale bank, servicing loans in 50 states. As the nation’s leading subservicer, Cenlar boasts a loyal and growing client base including banks, credit unions and mortgage bankers. Our nearly 4,000 employees, strategically located throughout the United States, are dedicated to customer satisfaction and teamwork that drives client solutions that are unparalleled in quality, flexibility and innovation. Headquartered in Ewing, NJ, Cenlar is industry rated and audited regularly by independent third parties.

For more information, visit www.cenlar.com.

Find us on LinkedIn here: https://www.linkedin.com/company/cenlar-fsb/

Contacts

Adrienne R. Kowalski
Corporate Communications Director

arkowalski@cenlar.com

Categories
Business

Prudential launches FlexGuard Income indexed variable annuity – a new investment and income strategy with enhanced flexibility and control

NEWARK, N.J. — (BUSINESS WIRE) — $PRU–Prudential Financial Inc. (NYSE: PRU), today launched FlexGuard® Income, a new indexed variable annuity that provides customers with investment strategies for growth potential, along with different levels of protection and the ability to help enhance income in retirement.


“Today’s financial challenges require new and different solutions,” said Dylan Tyson, president of Prudential Annuities. “Investors have individualized goals and comfort levels for risk. They need customizable investment strategies and income solutions that provide the potential to grow assets and protect financial outcomes.”

With this latest offering in Prudential’s individual solutions product line, customers can choose how they participate in the market through different index options, both before and after income begins, and have the flexibility to make changes as their wants and needs evolve.

FlexGuard Income is initially available through Prudential Advisors financial professionals and will expand to additional, third-party broker dealers in fall 2021. The product builds upon the record success of FlexGuard, the fastest-selling indexed variable annuity launch ever in the industry, achieving more than $3.5 billion in sales in its first four quarters.1

Building on the same features as FlexGuard during the savings stage, FlexGuard Income then adds an innovative new buffered income benefit linked to market performance. If an account value ever reaches zero, this is followed by an insured income stage that provides a set level of income for life.

“No one knows exactly how long they will live,” Tyson added. “FlexGuard Income is designed to help customers and their financial professionals feel more in control and provide protected income, helping to usher more Americans from where they are now to where they want to be.”

For more information visit the FlexGuard Income page at www.prudential.com.

1 SOURCE: According to LIMRA Secure Retirement Institute sales data.

About Prudential Financial

Prudential Financial, Inc. (NYSE: PRU), a financial wellness leader and premier active global investment manager, has operations in the United States, Asia, Europe and Latin America. Prudential’s diverse and talented employees help to make lives better by creating financial opportunity for more people. Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit news.prudential.com.

Investors should consider the features of the contract, index strategies, and the underlying portfolios investment objectives, polices, management, risks, charges and expenses carefully before investing. This and other important information is contained in the prospectus, which can be obtained from your financial professional. Please read the prospectus carefully before investing

Annuities are issued by Prudential Annuities Life Assurance Corporation and distributed by Prudential Annuities Distributors, Inc., both located in Shelton, CT (main office). Prudential Annuities is a business of Prudential Financial, Inc. Prudential Advisors is a brand name of The Prudential Insurance Company of America and its subsidiaries.

This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. If you would like information about your particular investment needs, please contact a financial professional.

Annuity contracts contain exclusions, limitations, reductions of benefits, and terms for keeping them in force. Your licensed financial professional can provide you with complete details.

Guarantees are dependent upon the claims-paying ability of the issuing company and do not apply to the underlying investment options.

Contacts

Anjelica Sena

973-802-6930

anjelica.sena@prudential.com

Categories
Business Technology

NICE Actimize named ‘Best Compliance’ technology provider by 2021 WealthBriefing European Awards

NICE Actimize Named ‘Best Compliance’ Technology Provider By 2021

NICE Actimize uses AI and advanced analytics across anti-money laundering and surveillance so customers achieve the true benefits of intelligent automation

 

HOBOKEN, N.J. — (BUSINESS WIRE) — #Actimize–NICE Actimize, a NICE (NASDAQ: NICE) business, was named “Best Compliance” technology solutions provider by WealthBriefing European Awards 2021. Sponsored by WealthBriefing, a publication of Clearview Financial Media and a leading global provider of business intelligence in the private banking and wealth management space, the program rewards achievement, top class performance, and innovation.

As judged by an expert panel drawn from the wealth management industry and members of its editorial team, NICE Actimize emerged as the 2021 Compliance Winner in supporting wealth advisors and asset managers through the successful implementation of its anti-money laundering and holistic surveillance solutions offerings. NICE Actimize has successfully applied cloud, artificial intelligence and advanced analytics to solving the Wealth Management market segment’s critical needs.

NICE Actimize provides a complete set of end-to-end financial crime and compliance solutions for wealth management organizations, offering a full range of capabilities that include KYC/CDD, transaction monitoring, and sanctions screening, in addition to the industry’s broadest range of trade and communications surveillance solutions in support of wealth advisors.

“By automating onboarding through oversight and supervision of KYC, and ongoing monitoring of account activity, our anti-money laundering and surveillance solutions protect customers’ accounts and firms’ reputations while cutting down on resource drain and operational cost,” said Craig Costigan, CEO, NICE Actimize. “We thank the expert panel of judges for their acknowledgment of our Wealth Management solutions.”

A market leader in Anti-Money Laundering, NICE Actimize continues to make significant investments across its integrated AML suite, with a focus on further incorporating artificial intelligence into all coverage areas so customers achieve the true benefits of machine learning and intelligent automation which include better detection, more efficient operations and reduced cost of compliance. NICE Actimize’s Autonomous Anti-Money Laundering Solutions Suite, powered by X-Sight AI, consists of Suspicious Activity Monitoring, KYC-Customer Due Diligence, CTR Processing and Automation, and WL-X Risk Screening.

Recently, NICE Actimize launched SURVEIL-X Suitability for Wealth and Insurance, a comprehensive AI-powered surveillance and suitability solution that builds on the capabilities of NICE Actimize’s industry-leading SURVEIL-X Holistic Conduct Surveillance suite. Already adopted by a number of leading global financial services organizations, SURVEIL-X Suitability combines communications surveillance, sales practices & suitability, and Regulation Best Interest (Reg BI) surveillance in a single, integrated cloud-native platform.

  • For more information on NICE Actimize’s anti-money laundering solutions, please click here.
  • For more information on NICE Actimize’s SURVEIL-X solutions, please click here.

About NICE Actimize

NICE Actimize is the largest and broadest provider of financial crime, risk and compliance solutions for regional and global financial institutions, as well as government regulators. Consistently ranked as number one in the space, NICE Actimize experts apply innovative technology to protect institutions and safeguard consumers’ and investors’ assets by identifying financial crime, preventing fraud and providing regulatory compliance. The company provides real-time, cross-channel fraud prevention, anti-money laundering detection, and trading surveillance solutions that address such concerns as payment fraud, cybercrime, sanctions monitoring, market abuse, customer due diligence and insider trading. Find us at www.niceactimize.com, @NICE_Actimize or Nasdaq: NICE.

About NICE

NICE (Nasdaq: NICE) is the world’s leading provider of both cloud and on-premises enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE helps organizations of all sizes deliver better customer service, ensure compliance, combat fraud and safeguard citizens. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, are using NICE solutions. www.nice.com.

Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE’s marks, please see: www.nice.com/nice-trademarks.

Forward-Looking Statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Costigan are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the “Company”). In some cases, such forward-looking statements can be identified by terms such as “believe,” “expect,” “seek,” “may,” “will,” “intend,” “should,” “project,” “anticipate,” “plan,” “estimate,” or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in economic and business conditions, including as a result of the COVID-19 pandemic; competition; successful execution of the Company’s growth strategy; success and growth of the Company’s cloud Software-as-a-Service business; changes in technology and market requirements; decline in demand for the Company’s products; inability to timely develop and introduce new technologies, products and applications; difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company’s dependency on third-party cloud computing platform providers, hosting facilities and service partners;, cyber security attacks or other security breaches against the Company; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the “SEC”). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company’s reports filed from time to time with the SEC, including the Company’s Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.

Contacts

Corporate Media:

Cindy Morgan-Olson, +1 646 408 5896, cindy.morgan-olson@niceactimize.com

Investors:

Marty Cohen, +1 551 256 5354, ET, ir@nice.com
Omri Arens, +972 3 763 0127, CET, ir@nice.com

Categories
Business

Inspira Health appoints Anneliese McMenamin, SPHR, SHRM-SCP as chief human resources officer

A 30-year human resources industry veteran, McMenamin to help Inspira further its journey as a High Reliability Organization and propel growth

MULLICA HILL, N.J. — (BUSINESS WIRE) — Inspira Health today announced the appointment of Anneliese McMenamin, SPHR, SHRM-SCP, to Chief Human Resources Officer, effective August 9. As Inspira continually elevates its commitment as a High Reliability Organization, McMenamin has been selected to integrate both the employee experience and the patient experience in this newly redefined role. In doing so, she will further bring together Inspira’s community of employees and patients, while also supporting the advancement of Inspira’s strategic growth.


McMenamin has more than three decades of experience in human resources, including 28 years in the health care industry, most recently serving as Chief Human Resources Officer and Vice President of Human Resources for Saint Barnabas Medical Center, part of RWJBarnabas Health, since 2019. In addition, McMenamin also spent more than a decade of her career as Vice President of Human Resources for Kennedy Health System, now part of Thomas Jefferson University, in which she was the driver of organizational development and employee engagement.

As Chief Human Resources Officer, McMenamin will support Inspira’s growth strategy under the leadership of Amy Mansue, President & CEO of Inspira Health. She will oversee both human resources and the patient experience by designing and executing initiatives that align with Inspira’s mission, vision and values to help the people of Inspira grow in their own service journeys, while also optimizing the patient experience.

“Our greatest asset is our people. With Anneliese partnering with our HR team, I am confident that she will help us build on our work to expand a safe and inclusive culture, reinforce the values for which we stand and fuel our growth to support our local communities,” said Amy Mansue, President & CEO of Inspira Health. “We welcome her to the Inspira family and are grateful that Anneliese will bring her vast experience in crafting impactful strategies that drive change as well as attract and retain strong talent to support our patients, our employees and our community.”

This decision comes at a monumental time, as Inspira refines its approach to talent acquisition, development, retention and engagement. McMenamin’s proven track record of accomplishments will help establish and maintain a culture focused on developing its people by building strong, dynamic teams while helping employees reach their personal and professional goals.

“The value that Inspira places on its culture, its people and its patients is evident,” said McMenamin. “I am excited to join the Inspira family during this exciting time of growth and contribute to organizational transformation as it looks to expand and further support the South Jersey region.”

McMenamin holds a Bachelor of Science in human resources management from LaSalle University, as well as a Master’s degree in strategic human capital management from St. Joseph’s University. She is a member of the Society for Human Resources Management and Tri-State Society for Human Resources Management. She served on the board of the National Human Resources Associate Philadelphia chapter, and was a board member and chair of the human resources committee for the Food Bank of South Jersey.

McMenamin has been recognized by Delaware Valley for HR Person of the Year. In addition, she and her work were also awarded the HR Department of the Year Award for Excellence in Diversity, Philly.com’s Top Workplace for five consecutive years, the National LEAD Organization for excellence in leadership development and creative partnerships in organizational change initiatives.

About Inspira Health

Inspira Health is a charitable nonprofit health care organization and a regional leader in physician training, with approximately 160 medical residents and fellows in 10 nationally accredited specialty programs. The system, which traces its roots to 1899, comprises three hospitals, two comprehensive cancer centers, several multi-specialty health centers and a total of more than 150 access points. These include urgent care; outpatient imaging and rehabilitation; sleep medicine labs; cardiac testing facilities; digestive health and wound care centers; home care and hospice; and more than 35 primary and specialty physician practices in Gloucester, Cumberland, Salem, Camden and Atlantic counties.

Together with its medical staff of more than 1,300 physicians and other care providers, as well as more than 6,200 employees, Inspira Health provides evidence-based care to help each patient achieve the best possible outcome. Accredited by DNV Healthcare, the system’s clinical and support staffs are focused on providing quality care in a safe environment. For more information about Inspira Health, visit www.InspiraHealthNetwork.org or call 1-800-INSPIRA.

Contacts

Brownstein on behalf of Inspira

Meagan Sloan

inspirapr@brownsteingroup.com

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Business

AM Best comments on credit ratings of Intact Financial Corporation following transaction announcement

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance—AM Best has commented that the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of “aa-” (Superior) of Intact Insurance Company (Ontario, Canada) and the subsidiaries of Intact Financial Corporation (Intact) remain unchanged following the recent announcement of the definitive agreement along with its partner Tryg A/S to sell Codan Forsikring A/S’s Danish business to Alm. Brand A/S Group. The purchase price is approximately CAD 2.52 billion, and this transaction is expected to close in the first half of 2022, subject to approvals or clearances of all necessary regulatory authorities. This follows the closing of the acquisition of RSA Insurance Group Limited (RSA) by Intact and Tryg A/S, which closed on June 1, 2021.

Intact will receive 50% of the proceeds of this transaction, pursuant to its agreement with Tryg A/S. Intact intends to use its proceeds to repay short term debt raised during the acquisition of RSA, and for general corporate purposes.

 

AM Best notes that the announced sale of the Danish operations is consistent with Intact’s long-term strategic plans and AM Best’s analysis of the original Intact acquisition with Tryg A/S of the RSA business.

 

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 media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

 

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 © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Gordon McLean
Senior Financial Analyst
+1 908 439 2200, ext. 5304
gordon.mclean@ambest.com

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

Raymond Thomson, CPCU, ARe, ARM
Associate Director
+1 908 439 2200, ext. 5621

raymond.thomson@ambest.com

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