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Business Culture Lifestyle

Skechers Elite Athlete Brooke Henderson wins ShopRite LPGA Classic

Wearing Skechers GO GOLF footwear, Canada’s Top-Winning Golfer Earns 11th Career Pro Victory

 

LOS ANGELES — (BUSINESS WIRE) — Elite golfer Brooke Henderson earned her first victory of the season wearing Skechers GO GOLF® footwear and apparel with an exciting come-from-behind playoff victory Sunday at the ShopRite LPGA Classic on the Seaview, Bay Course in Galloway, New Jersey. The golf pro finished 12 under par to achieve her 11th career LPGA title—expanding her record as Canada’s winningest golfer in the history of the LPGA and PGA Tours.


“Starting Sunday in ninth place, I thought I was too far back, but I felt comfortable, strong and ready to go,” said Brooke Henderson. “My parents were on the course supporting me, along with my sister who was caddying for me, and I wanted to stay aggressive after coming so close last year. It was definitely a well-fought victory.”

 

“Brooke is a strong competitor, and her dedication is an inspiration to her fanbase in North America and around the world,” said Michael Greenberg, president of Skechers. “She’s an incredible asset to our brand and we love that she’s finding success wearing Skechers GO GOLF in the 2022 season. We’re proud to be on her team as she illustrates how our golf footwear can help elevate anyone’s game—whether you’re just starting out or a seasoned pro.”

 

Henderson has become a prominent face in women’s golf since turning professional in December 2014. She won her first LPGA Tour event in 2015 at the Cambia Portland Classic, a title she would defend in 2016. She went on to become the second youngest player to capture a major championship with her win at the 2016 KPMG Women’s PGA Championship. Brooke also represented Canada at the Olympic games in Brazil and again in Tokyo in 2021. In 2018, she won the Lotte Championship, and she also became the first Canadian in 45 years to win the national championship at the CP Women’s Open. Now with 11 titles including the Hugel-Air Premia LA Open in April 2021, Henderson owns the record for most professional golf wins by a male or female Canadian, and in 2019 won the ESPY for Best Female Golfer. She is currently ranked #8 in the World Golf Rankings.

 

Henderson joined the Skechers elite golf team in 2016, wears Skechers GO GOLF footwear and apparel on tour and has been featured in ongoing marketing campaigns for the brand. She has competed in recent tournaments wearing Skechers GO GOLF Elite 4 HYPER™ footwear. Additional pros wearing Skechers GO GOLF on tour include Matt Fitzpatrick, Colin Montgomerie and Billy Andrade. Known for its lightweight, high-quality, stable and comfortable designs, Skechers GO GOLF has achieved prominence within the golf category alongside the brand’s award-winning running, walking and training collections.

 

Skechers GO GOLF footwear is available at Skechers retail stores and skechers.com as well as select retail partners, including specialty golf pro shops.

 

About Skechers USA, Inc.

Skechers USA, Inc. (NYSE:SKX), The Comfort Technology Company™ based in Southern California, designs, develops and markets a diverse range of lifestyle and performance footwear, apparel and accessories for men, women and children. The Company’s collections are available in over 180 countries and territories through department and specialty stores, and direct to consumers through digital stores and 4,308 Company- and third-party-owned physical retail stores. The Company manages its international business through a network of wholly-owned subsidiaries, joint venture partners, and distributors. For more information, please visit about.skechers.com and follow us on Facebook, Instagram, Twitter, and TikTok.

 

This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may include, without limitation, Skechers’ future domestic and international growth, financial results and operations including expected net sales and earnings, its development of new products, future demand for its products, its planned domestic and international expansion, opening of new stores and additional expenditures, and advertising and marketing initiatives. Forward-looking statements can be identified by the use of forward-looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will,” “could,” “may,” “might,” or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include the disruption of business and operations due to the COVID-19 pandemic; delays or disruptions in our supply chain; international economic, political and market conditions including the challenging consumer retail markets in the United States and the impact of Russia’s recent invasion of Ukraine; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers; decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers, especially in the highly competitive performance footwear market; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in Skechers’ annual report on Form 10-K for the year ended December 31, 2021 and its quarterly report on Form 10-Q for the three months ended March 31, 2022. Taking these and other risk factors associated with the COVID-19 pandemic into consideration, the dynamic nature of these circumstances means that what is stated in this press release could change at any time, and as a result, actual results could differ materially from those contemplated by such forward-looking statements. The risks included here are not exhaustive. Skechers operates in a very competitive and rapidly changing environment. New risks emerge from time to time and we cannot predict all such risk factors, nor can we assess the impact of all such risk factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.

 

Contacts

Media Contact:
Jennifer Clay

Skechers

jennc@skechers.com

Categories
Culture Local News

Juneteenth event at Capital City Farm to highlight African Americans’ impact on agriculture

TRENTON, N.J. — The Mercer County Park Commission is celebrating Juneteenth by highlighting the contributions of African Americans, past and present, in agriculture and food advocacy at Capital City Farm on Saturday.

 

 

The family-friendly event at this urban farm in the City of Trenton, will take place from 10 a.m. to 3 p.m., June 18.

There will be activities engaging youngsters and supporting the Trenton Literacy Movement by distributing free children’s books to a Literacy Corner where children can sit on hay bales and read with their parents and local volunteers. There will also be a scavenger hunt during which participants will find answers all around the farm to the clues in their “passports.” The first 50 hunters who complete their passports will receive $10 bookstore gift cards.

Hands-on activities including corn milling, lettuce seedling planting, and bee abode building will keep the young people busy as they listen to live music and taste African-inspired recipes. Fresh produce grown on the farm will also be available, free of charge, while supplies last.

 

 

Farm visitors will be invited to take a tour of the farm, which is deceptively larger than it looks. Crops include all sorts of vegetables, such as carrots, kale and collards, flowers and fruits. While touring, guests will also learn a little about Booker T. Whatley, Tuskegee University agricultural professor; Dr. James Still, New Jersey’s “Black Doctor of the Pines” and self-taught botanist; Meredith Taylor, a Rutgers University professor whose research focuses on urban agriculture; and many other familiar and unfamiliar people and organizations.

 

Community partners who have contributed to this event include the New Jersey Conservation Foundation, the Garden State Agrihood Project, the Conservatory of Music and Performing Arts Society, and the Conservatory Mansion. The Center for Child and Family Achievement, The Watershed Institute, and the African American Cultural Collaborative contributed the children’s books.

Capital City Farm is located at 301 North Clinton Ave. in Trenton. For more information about the farm, visit the Mercer County Park Commission website.

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Culture Local News

Juneteenth program at Howell Farm to feature tours of historical farmhouse

HOPEWELL TOWNSHIP, N.J. — Visitors to Howell Living History Farm can join historical interpreters on a free wagon ride and tour of the circa-1790 farmhouse, where Revolutionary War-era New Jerseyans lived and farmed the land that now makes up Mercer County’s Pleasant Valley National Rural Historic District, Saturday, June 18.

 

Photos: The Captain Henry Phillips House and historical interpreter Ivey Avery.

 

Saturday’s program is being held in observance of Juneteenth, which commemorates the emancipation of enslaved African-Americans.

Tours begin at 10:30 a.m. in the barnyard, where visitors will board a wagon to travel down the driveway, across Moore’s Creek and through the woods before disembarking at the Captain Henry Phillips House. There they’ll meet historical interpreters Ivey Avery of Trenton and Pete Curtis of George Washington’s Mount Vernon, who will be wearing period attire for a unique discussion of the history of the house and the people who lived in it before and after the 1804 passage of New Jersey’s Act for the Gradual Abolition of Slavery.

Avery and Curtis are experienced historical interpreters who have presented the lives of Black Americans throughout our history, in both first- and third-person styles. With additional support from Howell Farm historian Larry Kidder, they will guide visitors through the house and tell the story of Nance, an enslaved woman who lived there with her children, while also discussing the ways that other Black residents of Pleasant Valley lived before, during and after the abolition of slavery in New Jersey. Following the tour, light refreshments will be served outside.

 

 

Wagon tours depart from the barnyard at 10:30 and 11:30 a.m., and 12:30, 1:30 and 2:30 p.m., and are limited to 20 participants per session. Up to 10 spaces per tour may be reserved online via the Mercer County Park Commission CommunityPassportal, and the remaining 10 will be kept available for walk-ins on a first-come, first-served basis.

Guided tours of the circa-1900 “Howell Farm farmhouse” will also be offered throughout the day, beginning at 11 a.m., 12 noon, and 1, 2 and 3 p.m. The farm will be open from 10 a.m. to 4 p.m. Tours of both farmhouses, as well as admission to the farm, are free.

Howell Farm is owned by the County of Mercer and operated by the Mercer County Park Commission. It is located at 70 Woodens Lane, Hopewell Township, NJ 08530. For more information, please visit www.howellfarm.org or call the farm office at 609-737-3299.

Categories
Culture Healthcare Science

Hinge Health appoints Mario Queiroz as chief product officer

Industry veteran brings a wealth of experience and expertise in building industry-leading products

SAN FRANCISCO — (BUSINESS WIRE) — Hinge Health, the world’s #1 Digital Musculoskeletal Clinic™, today announced the appointment of Mario Queiroz as chief product officer. In this role, Queiroz will be responsible for driving the company’s product strategy and innovations to make musculoskeletal (MSK) care more accessible, affordable, and equitable for employers and members. Queiroz is a widely respected product leader and previously led product functions at Palo Alto Networks, Google, and HP.


“Mario is an exceptional product thinker and builder with a track record of developing some of the most popular consumer products in the world,” said Gabriel Mecklenburg, co-founder and chairman, Hinge Health. “I’m really excited to welcome him to our leadership team as we continue to build magical experiences for our members.”

 

Queiroz’s appointment comes at a time when the company is growing its offering across the full continuum of MSK care. In April, the company announced a Women’s Pelvic Health program to address the grossly underserved pelvic health needs of millions of women across America. This followed many product launches over the last year, including the release of HingeConnect for more seamless care between digital and in-person providers and Enso, wearable technology for electrical nerve stimulation. Hinge Health also acquired wrnch, one of the world’s most advanced computer vision companies, for pose estimation. This technology will allow members to use the camera on their phones to guide them through a wider pool of exercises and treat areas that are difficult to assess with physical sensors – all through a modern, delightful member experience.

 

“Millions of Americans experience chronic back and joint pain. As someone deeply passionate about leading an active lifestyle, I understand how important it is for people to have easy access to comprehensive, top-quality pain care so they can keep living their lives to the fullest,” said Mario Queiroz. “I am deeply inspired by Hinge Health’s product vision for accessible and personalized care and the opportunity to shape experiences that can transform people’s lives.”

 

Queiroz brings nearly three decades of product leadership experience to Hinge Health. He most recently served as executive vice president of special projects at Palo Alto Networks, where he led the creation of a new product line to bring enterprise-grade cybersecurity to people’s homes and to small businesses. Before Palo Alto Networks, Queiroz was at Google for 14 years. He led several of Google’s biggest consumer hardware projects, from Chromecast to Google Home, to having last served as general manager and vice president of product management for Pixel smartphones. He also held various leadership roles at HP. Queiroz holds a Bachelor’s and Master of Science in electrical engineering from Stanford University.

 

About Hinge Health

Hinge Health is building the world’s most patient-centered Digital Musculoskeletal (MSK) Clinic™. It is now the leading Digital MSK Clinic, used by four in five employers and 90% of health plans with a digital MSK solution. Hinge Health reduces MSK pain, surgeries, and opioid use by pairing advanced wearable sensors and computer vision technology with a comprehensive clinical care team of physical therapists, physicians, and health coaches. Hinge Health’s HingeConnect integrates with 1 million+ in-person providers and enables real-time interventions for elective MSK surgeries, driving proven medical claims reduction. Available to millions of members, Hinge Health is widely trusted by leading organizations, including Land O’Lakes, L.L. Bean, Salesforce, Self-Insured Schools of California, Southern Company, State of New Jersey, US Foods, and Verizon. Learn more at http://www.hingehealth.com.

Contacts

Erica Osian

media@hingehealth.com

Categories
Culture Local News

Trenton-Mercer Airport conducts required-FAA exercise

 TRENTON, N.J. — Front-line responders from more than a dozen Mercer County, State, and municipal agencies, as well as other emergency stakeholders, took part in a federally required Airport Emergency Plan (AEP) Review conducted by Trenton-Mercer Airport last Wednesday.

 

Under FAA regulations, Trenton-Mercer Airport must complete an AEP review annually. In 2023, the airport will conduct a full-scale emergency drill, which it does every three years as mandated by the FAA. Photo: Trenton-Mercer Airport Manager Melinda Montgomery leads a review of the Airport Emergency Plan on May 25, 2022.

 

The purpose of the event held May 25 at the Township of Ewing’s conference center, was to fully review and discuss the AEP to ensure that the document continues to be maintained in a manner consistent with the National Incident Management System/Incident Command System. A “Table-top” review also was performed, where participants discussed a fictional emergency scenario and their agencies proposed responses to it.

 

“Should a major incident occur at Trenton-Mercer Airport, agencies at the local, state and federal levels must be able to provide a seamlessly coordinated response,” said Mercer County Executive Brian M. Hughes. “This review allows emergency stakeholders to familiarize themselves with the plan and each other, thereby increasing the effectiveness of our response in the event of an actual airport emergency.”

 

In addition to Trenton-Mercer Airport staff, TTN Aircraft Rescue and Firefighting (ARFF)-Station 34, and Mercer County Sheriff’s Office, Airport Division, a number of other County agencies were represented, including the County Executive’s Office, Office of Emergency Management (OEM), Emergency Services Communications Center, County coordinators for EMS and Fire, and the Prosecutor’s Office. Representatives from the Federal Aviation Administration (FAA), Transportation Security Administration, FBI, New Jersey State Police Aviation Unit, New Jersey Office of Homeland Security, New Jersey Office of Emergency Management, Midwest Air Traffic Control Services, New Jersey Division of Aeronautics, Ewing Township Police Department, Ewing Emergency Medical Services (EMS), Ewing OEM, West Trenton Fire Company-Station 33, Prospect Heights Volunteer Fire Co., Ewing Township Fire Co., Capital Health, Frontier Airlines, Philadelphia International Airport, and Worldwide Flight Services also participated.

 

Under FAA regulations, Trenton-Mercer Airport must complete an AEP review annually. In 2023, the airport will conduct a full-scale emergency drill, which it does every three years as mandated by the FAA.

Categories
Business Culture

Best’s Special Report: First-quarter 2022 results show 5% increase in U.S. property/casualty industry’s underwriting income

OLDWICK, N.J. — (BUSINESS WIRE) — The U.S. property/casualty (P/C) industry saw a 4.6% increase to $3.3 billion in net underwriting income in the first three months of 2022 over the same prior-year period, according to preliminary financial results. This financial review is detailed in a new Best’s Special Report, “First Look: Three-Month 2022 U.S. Property/Casualty Financial Results,” and the data is derived from companies’ three-month 2022 interim statutory statements that were received as of May 20, 2022, representing an estimated 95% of the total P/C industry’s net premiums written.

According to the report, the combined ratio for the P/C industry improved marginally to 96.3 in the first quarter of 2022 from 96.6 in the first quarter of 2021. Catastrophe losses accounted for an estimated 3.3 points on the three-month 2022 combined ratio, down from an estimated 8.7 points in the prior-year period. A 39.7% decline in policyholder dividends and 10.5% growth in net earned premiums was offset by increases in incurred losses, loss adjustment expenses and underwriting expenses, leading to the modest underwriting income increase. Overall P/C industry net income rose $29.0 billion for the three-month period.

 

Industry surplus increased slightly by 0.5% from the end of 2021 to $1.0 trillion, as the net income plus other surplus gains of $8.4 billion were reduced by $32.1 billion of unrealized losses and stockholder dividends.

 

To access the full copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=320298.

 

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

Matthew Coppola
Director, Data Management
+1 908 439 2200, ext. 5627
matthew.coppola@ambest.com

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

Jeff Mango
Managing Director,
Strategy & Communications
+1 908 439 2200, ext. 5204
jeffrey.mango@ambest.com

Categories
Culture Local News

Mercer County offers fresh produce vouchers to qualifying, older adults

TRENTON, N.J. — Mercer County Executive Brian M. Hughes announced that starting June 1, the Mercer County Office on Aging/Aging & Disability Resource Connection (ADRC) will begin accepting applications for the Senior Farmers Market Nutrition Program, which provides vouchers for the purchase of fresh, nutritious, unprepared foods such as fruits, vegetables and herbs to low-income older adults.

 

 

“With foods provided from authorized farmers, the Senior Farmers Market Nutrition Program not only helps increase the nutritional health of our communities, but also increases the demand for locally grown produce and boosts the income of farmers who produce and sell locally grown products,” Mr. Hughes said. Last year, the Office on Aging/ADRC distributed vouchers to 1,430 Mercer County older adults, he added.

 

Eligible older adults will receive vouchers for use at participating farm stands. To qualify for this program, you must be able to verify that:

  • You are 60 years of age or older
  • You live in Mercer County
  • Your income does not exceed $23,828 per year ($1,986 monthly) if applying as a single person or $32,227 per year ($2,686 monthly) if applying as a couple*

 

Those eligible will receive five $6 vouchers for a total of $30 to spend. Vouchers will be distributed on a first-come, first-served basis. When you receive your vouchers, you also will get a listing of participating markets and vendors.

“The farmers market program offers older adults an increased opportunity to make nutritious fresh fruits and vegetables part of their daily eating choices,” Mr. Hughes said. “It also helps the older adult who may be struggling financially to get the most for their money.”

If you, a family member, or friend could benefit from this program or if you have any questions regarding it, please call the Office on Aging/ADRC at 609-989-6661 or email ADRC@mercercounty.org.

 

*Income guidelines vary for household sizes of three or more and also will change July 1 for all household sizes. Please contact the Office on Aging/Aging & Disability Resource Connection for further details.

Categories
Business Culture Lifestyle

Zoetis to participate in the Stifel 2022 Jaws and Paws Conference

PARSIPPANY, N.J. — (BUSINESS WIRE) — $ZTS #animalhealthZoetis Inc. (NYSE:ZTS) will participate in the Stifel 2022 Jaws and Paws Conference on Wednesday, June 1, 2022. Glenn David, Executive Vice President and Group President, International Operations, Aquaculture, BioDevices and Pet Insurance, will represent the company and respond to questions from analysts. He is scheduled to present at 4:10 p.m. ET.

Investors and other interested parties will be able to access a live audio webcast of the presentation by visiting http://investor.zoetis.com/events-presentations. A replay of the presentation will also be available on the Zoetis website after the event.

 

About Zoetis

As the world’s leading animal health company, Zoetis is driven by a singular purpose: to nurture our world and humankind by advancing care for animals. After 70 years innovating ways to predict, prevent, detect, and treat animal illness, Zoetis continues to stand by those raising and caring for animals worldwide — from livestock farmers to veterinarians and pet owners. The company’s leading portfolio and pipeline of medicines, vaccines, diagnostics and technologies make a difference in over 100 countries. A Fortune 500 company, Zoetis generated revenue of $7.8 billion in 2021 with approximately 12,100 employees. For more information, visit www.zoetis.com.

 

ZTS-COR

ZTS-IR

ZTS-FIN

Contacts

Media:

Bill Price

1-973-443-2742 (o)

william.price@zoetis.com

Kristen Seely

1-973-443-2777 (o)

kristen.seely@zoetis.com

Investor:

Steve Frank

1-973-822-7141 (o)

steve.frank@zoetis.com

Categories
Business Culture

AM Best affirms Credit Ratings of BNY Trade Insurance, Ltd. and The Hamilton Insurance Corp.

OLDWICK, N.J. — (BUSINESS WIRE) — AM Best has affirmed the Financial Strength Ratings of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) of BNY Trade Insurance, Ltd. (BNY Trade) (Hamilton, Bermuda) and The Hamilton Insurance Corp. (Hamilton) (Melville, NY). The outlook of these Credit Ratings (ratings) is stable.

The ratings of BNY Trade reflect its balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM). The ratings of Hamilton reflect its balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, neutral business profile and appropriate ERM.

 

Both BNY Trade and Hamilton are single-parent captives of their ultimate parent, The Bank of New York Mellon Corporation [NYSE: BK], a leading global financial services company. In their roles as single-parent captives, both companies provide comprehensive reinsurance coverage and products to their parent.

 

BNY Trade’s ratings also reflect its steady growth in surplus driven by its consistent premium growth and favorable profitability over the past several years. Hamilton’s ratings also reflect its stable premium, strong liquidity and adequate operating performance, as well as its consistent level of investment income that contributes to its more-than-sufficient surplus levels. Both BNY Trade and Hamilton benefit from their parent’s robust, enterprise–wide policies and procedures in the areas of risk management, resiliency, corporate governance, compliance and ethics.

 

AM Best remains the leading rating agency of alternative risk transfer entities, with more than 200 such vehicles rated in the United States and throughout the world. For current Best’s Credit Ratings and independent data on the captive and alternative risk transfer insurance market, please visit www.ambest.com/captive.

 

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

 

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

 

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

Contacts

Chul Hyung Lee
Senior Financial Analyst
+1 908 439 2200, ext. 5036
chul.lee@ambest.com

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

Fred Eslami
Associate Director
+1 908 439 2200, ext. 5829
fred.eslami@ambest.com

Jeff Mango
Managing Director,
Strategy & Communications
+1 908 439 2200, ext. 5204
jeffrey.mango@ambest.com

Categories
Business Culture

AM Best affirms credit ratings of Safety Insurance Group, Inc. and key subsidiaries

OLDWICK, N.J. — (BUSINESS WIRE) — #insuranceAM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of Safety Insurance Company, Safety Indemnity Insurance Company, Safety Property and Casualty Insurance Company and Safety Northeast Insurance Company. Collectively these companies are referred to as Safety Group (Safety). At the same time, AM Best has affirmed the Long-Term ICR of “bbb+” (Good) of Safety Insurance Group, Inc. (Delaware) [NASDAQ/GS: SAFT], the publicly traded parent of Safety. The outlooks of these Credit Ratings (ratings) is stable. All companies are domiciled in Boston, MA, except where specified.

The ratings reflect Safety’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM).

 

Safety’s balance sheet strength is supported by its strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), low underwriting leverage, sound liquidity and historically favorable loss reserve development trends. Safety also benefits from the financial flexibility afforded by its publicly traded parent, which has the ability to access capital markets. Safety’s strong level of operating performance has supported policyholder surplus growth and is the result of management’s ability to manage the market conditions in Massachusetts successfully, where the majority of its business is written.

 

Safety’s business profile is assessed as neutral due to its leading market position and diverse product offerings, partially offset by its geographic concentration in Massachusetts, which exposes Safety to above average economic, regulatory and legislative risks. AM Best considers Safety’s ERM as appropriate for the company’s and scope of operations. Safety is exposed to considerable catastrophe tail risk and has implemented strategies to reduce this exposure.

 

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

 

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

 

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

Contacts

Janet Hernandez
Senior Financial Analyst
+1 908 439 2200, ext. 5767
janet.hernandez@ambest.com

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

Chris Draghi
Associate Director
+1 908 439 2200, ext.5043
chris.draghi@ambest.com

Jeff Mango
Managing Director,
Strategy & Communications
+1 908 439 2200, ext. 5204
jeffrey.mango@ambest.com