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Google rolls out updates to its Search ranking to counter the spread of AI content in results, which includes down-ranking content that summarizes others’ work

There are always new ways to try to game Google with crappy content — and now the company is fighting back against the worst of it

 

David Pierce / The Verge:

 

 

—  Google is rolling out a few new changes to its ranking systems in search, which are designed to help surface good content in your results and hide some of the worst and most cynical stuff on the web.

 

The company says that it is doing a better job of downranking content that exists only to summarize other content — which can sometimes be normal SEO stuff but is also increasingly a job for generative AI tools— and in combatting some of the tricks people use to trick its ranking systems.

 

There are always people trying to manipulate their way to the top of Google results. That’s just a fact of the web and a fact of life for Google’s search teams. Google is always making changes to its ranking algorithms, too, in an effort to improve search results. We never hear about most of those changes.

 

“You only see the ones that sort of slipped by the controls, as it were,” says Pandu Nayak, a VP of search at Google. “Unfortunately, these are not things you can just wave a magic wand and get rid of.”

 

For Google to announce the changes it’s making signals two things. First, that these are big changes that could meaningfully change your search experience — Nayak says that Google’s measurements show a reduction in “unhelpful content” by up to 40 percent. And second, that Google is sending a message to the web: your spammy, sketchy behavior ends now.

 

       — Google is sending a message to the web: your spammy, sketchy behavior ends now

 

Nayak lays out three examples of what Google now considers spammy behavior and intends to downrank. The first is content at scale: the sites that create thousands of low-quality articles a day, either through low-paid contractors or AI generators, and target that content at search results. Nayak points to obituary spam — which The Verge’s Mia Sato recently wrote about — as an example of a problem to be solved here.

 

The second spammy behavior is what Nayak calls “site reputation abuse.” This is when an otherwise respectable website rents out part of its site for spammy nonsense; I won’t name and shame anyone here, but you’ve surely seen the sites that make you wonder why they have coupons or why there’s a whole part of the site that seems irrelevant and AI-generated. The third is “expired domain abuse,” which is when someone buys an abandoned but high-ranking domain and fills it with crummy content that then jumps to the top of search. The current state of The Hairpin is one example of how this can happen, which Wired has covered well in recent weeks.

 

For those engaging in site reputation abuse, Nayak says Google is giving the sites 60 days to cut it out before it makes the ranking changes. The others go into effect now. Google has a spam problem, it knows it, and it’s trying to shut it down. “The healthy, high-quality ecosystem is exactly the one that gets affected when spammers and low-quality purveyors of information get control of ranking,” Nayak says.

 

The job is not done, of course. The reckoning over AI-generated content — what it means, who wants it, how it should rank — is only just beginning and will cause Google plenty of internal headaches as it both tries to bring AI to everyone and tries to save the web from being overrun by it. (Even Google’s own search engine is increasingly an AI machine.) And there will always be new, sneakier ways to game your way to the top of search results. This is a headache of Google’s own making: most of the chum on the web exists entirely to game Google, and so Google will always be one step behind.

 

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— Techmeme

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Mercer County Exec-elect Dan Benson Transition Team introduces the 17 transition committees

MERCER COUNTY, N.J. — Following his recent election as Mercer County Executive, on Feb. 22 the Benson Transition Team released a 49-page report that contains recommendations from their 17 transition committees.

“Building a better future demands bold action. With the Transition Team’s unique insights, we have developed a bold and comprehensive set of goals for our administration. I look forward to turning this vision into action,” said County Executive Dan Benson.

“This was a thorough process of coordinating efforts across 17 teams and assessing hundreds of detailed and thoughtful recommendations,” said Transition Co-Chair Sharon Shinkle Gardner.

“We’re so proud of the hard work and passion that our members brought to their transition committees — it is reflected in the quality of the report,” Transition Co-Chair Jeannine Frisby LaRue said.

The Transition Team was tasked by County Executive Dan Benson with evaluating the wide range of responsibilities of Mercer County government and offering recommendations for the new administration. It was made up of a diverse group of more than 100 Mercer County residents. Each committee brought together voices from across the county to help explore a key piece of government and provide their perspectives on how to move Mercer forward.

County Executive Benson continued, “I am grateful to have a Transition Team that is so dedicated to our community and our shared values. We have already begun to implement a number of our report’s suggestions and are excited for the road map it provides for our first term.”

The full transition report can be found at BensonTransition.com.

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A BlackCat ransomware gang website shows takedown notice; the UK NCA denies involvement, experts suggest an exit scam after an alleged UnitedHealth payment 

—  A website used by hackers responsible for a breach at UnitedHealth Group (UNH.N) has been replaced by a notice saying it has been seized by international law enforcement.

 

Reuters:

 

 

WASHINGTON, (Reuters) — The hackers responsible for the breach at UnitedHealth Group (UNH.N), opens new tab appear to have pulled a disappearing act on Tuesday, leaving their cybercriminal associates in the lurch and replacing their old website with a bogus statement from law enforcement.
The corporate logo of the UnitedHealth Group appears on the side of one of their office buildings in Santa Ana, California, U.S., April 13, 2020. REUTERS/Mike Blake/File Photo Purchase Licensing Rights
The U.S. insurer disclosed on Feb. 21 that Blackcat hacking gang – also known as ALPHV – had perpetrated a cyberattack on its technology unit Change Healthcare, causing disruptions across the U.S. healthcare system.

 

A message posted to Blackcat’s website said it had been impounded “as part of a coordinated law enforcement action” by U.S. authorities and other law enforcement agencies. Among the logos of non-American agencies involved were those of Europol and Britain’s National Crime Agency.
The FBI declined comment and Europol did not return messages, but a National Crime Agency spokesperson said: “I can confirm any recent disruption to ALPHV infrastructure is not a result of NCA activity.”

 

Blackcat has not responded to Reuters requests for comment in several days.
Security experts said the law enforcement denial and other clues made it look like the hackers had simply decided to shut up shop.
“This appears to be a classic exit scam,” said researcher Will Thomas. In an exit scam, hackers pretend to be knocked out of commission only to quietly pocket their partners’ money and start over under a new name.

 

 

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— Techmeme

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Insider cybersecurity risk startup Dtex Systems raises $50M Series E from CapitalG at  $400M post-money valuation 

Sam Sabin / Axios:

 

 

CapitalG, Alphabet’s venture capital fund, is investing $50 million in Series E funding in insider risk company Dtex Systems, the companies first tell Axios.

 

Why it matters: The tech giant’s investment gives a vote of confidence to Dtex’s bet that insider risk will become the next big cybersecurity market.

 

  • CapitalG has invested in major cybersecurity companies like CrowdStrike and ZScaler.

 

Zoom in: Dtex is now valued at more than $400 million after this new funding, a company spokesperson told Axios.

 

  • The company — which has now raised a total of $138 million —plans to use the funds to expand its U.S.-based engineering teams and marketing operations around the world.
  • Dtex CEO Marshall Heilman told Axios the company is working to expand its client base to more U.S. government customers and Fortune 500 companies.
  • James Luo, a partner at CapitalG, will join Dtex’s board of directors.

 

 

How it works: Dtex uses machine learning to analyze network activity and company endpoints to flag potential insider risks, such as disgruntled employees stealing data or hacked employee accounts.

 

  • Flagged activity could include employees logging into their accounts from an unusual location, exfiltrating a large amount of corporate files and resetting an account password too many times.

 

The big picture: CapitalG’s investment comes as cybersecurity startup funding hits a five-year low, as total funding dropped 50% between 2022 and 2023, according to Crunchbase News.

 

  • Dtex last raised funding four years ago in a $17.5 million Series D round led by Northgate Capital.
  • Heilman joined the company as CEO in December after nearly 20 years at Google Cloud’s Mandiant.

 

What they’re saying: “I had always known that CapitalG was my white whale, they were the ones I wanted to land if it was possible,” Heilman said.

 

  • “I wanted someone who is going to be in the business and helping us while not trying to take over the business,” he added. “CapitalG was the perfect medium to do that.”

 

Between the lines: Insider risk has become a growing area of interest for companies.

 

  • 46% of organizations plan to increase their spending on insider threats in 2024, according to a recent report from Dtex and the Ponemon Institute.

 

What’s next: Heilman added that while Dtex is focused on insider threat, he is eyeing product areas where the company could grow in using the data it’s collected from its insider risk monitoring tools.

 

 

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— Techmeme

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inTEST delays fourth quarter and full year 2023 earnings release and investor conference call; provides preliminary fourth quarter results and 2024 guidance

MT. LAUREL, N.J. — (BUSINESS WIRE) — inTEST Corporation (NYSE American: INTT), a global supplier of innovative test and process technology solutions for use in manufacturing and testing in key target markets which include automotive/EV, defense/aerospace, industrial, life sciences, security, and semiconductor (“semi”), announced on Friday that it will reschedule its fourth quarter and full year 2023 earnings release and investor conference call, which was previously scheduled for March 1, 2024.

 

The Company requires additional time to complete the year-end audit and review process. The Company expects to report its results coincident with, or prior to, the filing of its Annual Report on Form 10-K for the year ended Dec. 31, 2023.

 

Preliminary, Unaudited Fourth Quarter 2023 Results

Fourth quarter 2023 revenue was approximately $28.4 million with net earnings of approximately $1.7 million, or $0.14 per diluted share. Cash generated from operations in the fourth quarter was $4.7 million. Orders in the fourth quarter were $27.5 million.

 

First Quarter and Full Year 2024 Guidance

Revenue for the first quarter of 2024 is expected to be in the range of $28 million to $30 million with gross margin of approximately 46%. First quarter 2024 earnings per diluted share is expected to be in the range of $0.08 to $0.13.

 

Revenue for full year 2024 is expected to be in the range of $125 million to $130 million.

 

The foregoing guidance is based on management’s current views with respect to operating and market conditions and customers’ forecasts. It also assumes macroeconomic conditions remain unchanged through the end of the year and does not consider any extraordinary non-operating expenses that may occur from time to time. Actual results may differ materially from what is provided here today because of, among other things, the factors described under “Forward-Looking Statements” below.

 

About inTEST Corporation

inTEST Corporation is a global supplier of innovative test and process technology solutions for use in manufacturing and testing in key target markets including automotive/EV, defense/aerospace, industrial, life sciences, and security, as well as both the front-end and back-end of the semiconductor manufacturing industry. Backed by decades of engineering expertise and a culture of operational excellence, inTEST solves difficult thermal, mechanical, and electronic challenges for customers worldwide while generating strong cash flow and profits. inTEST’s strategy leverages these strengths to grow organically and with acquisitions through the addition of innovative technologies, deeper and broader geographic reach, and market expansion. For more information, visit intest.com.

 

Key Performance Indicators

Management uses orders as a key performance metric to analyze and measure the Company’s financial performance and results of operations. Management uses orders as a measure of current and future business and financial performance, and these may not be comparable with measures provided by other companies. Orders represent written communications received from customers requesting the Company to provide products and/or services. Management believes tracking orders is useful as it often is a leading indicator of future performance. In accordance with industry practice, contracts may include provisions for cancellation, termination, or suspension at the discretion of the customer.

 

Given that orders is an operational measure and that the Company’s methodology for calculating orders does not meet the definition of a non-GAAP measure, as that term is defined by the U.S. Securities and Exchange Commission, a quantitative reconciliation for it is not required or provided.

 

Preliminary, Unaudited Financial Disclosures

The data presented above is preliminary and unaudited, based upon our estimates, and subject to further internal review by management and compilation of actual results. Our closing procedures for the year and quarter ended December 31, 2023 are not yet complete. Our management’s estimates are based upon preliminary information currently available from our business segments and extrapolation from that information. While we expect that our results will be consistent with these preliminary and unaudited estimates, our actual results may differ materially from these preliminary estimates.

 

This preliminary financial information is not a comprehensive statement of our financial results for this period, and our actual results may differ materially from these estimates due to the completion of our financial closing procedures, final adjustments, and other developments that may arise between now and the time the closing procedures for the fiscal year and quarter are completed.

 

All the data presented above has been prepared by and is the responsibility of our management. Our independent registered public accounting firm has not completed its audit procedures with respect to our accompanying preliminary financial data. Accordingly, our independent registered public accounting firm does not express an opinion or any other form of assurance with respect to this data.

 

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements do not convey historical information but relate to predicted or potential future events and financial results, such as statements of the Company’s plans, strategies and intentions, or our future performance or goals, that are based upon management’s current expectations. These forward-looking statements can often be identified by the use of forward-looking terminology such as “assume,” “believe,” “estimate,’ “expects,” “may,” “will,” “plan,” “potential,” “forecasts,” or similar terminology. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, any mentioned in this press release as well as the Company’s ability to execute on its 5-Point Strategy, achieve high single-digit growth in 2023, realize the potential benefits of acquisitions and successfully integrate any acquired operations, grow the Company’s presence in its key target and international markets, manage supply chain challenges, convert backlog to sales and to ship product in a timely manner; the success of the Company’s strategy to diversify its markets; the impact of inflation on the Company’s business and financial condition; indications of a change in the market cycles in the semi market or other markets served; changes in business conditions and general economic conditions both domestically and globally including rising interest rates and fluctuation in foreign currency exchange rates; changes in the demand for semiconductors; access to capital and the ability to borrow funds or raise capital to finance potential acquisitions or for working capital; changes in the rates and timing of capital expenditures by the Company’s customers; and other risk factors set forth from time to time in the Company’s Securities and Exchange Commission filings, including, but not limited to, the Annual Report on Form 10-K for the year ended December 31, 2022. Any forward-looking statement made by the Company in this press release is based only on information currently available to management and speaks to circumstances only as of the date on which it is made. The Company undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events, except as required by law.

Contacts

inTEST Corporation
Duncan Gilmour

Chief Financial Officer and Treasurer

Tel: (856) 505-8999

Investors:
Deborah K. Pawlowski

Kei Advisors LLC

dpawlowski@keiadvisors.com
Tel: (716) 843-3908

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Best’s Review’s most popular stories: Top Audit and Actuarial Firms and more

OLDWICK, N.J. — (BUSINESS WIRE) — In the last 90 days, Best’s Review readers have been most interested in the following stories:

 

 

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

 

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

 

Copyright © 2024 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Patricia Vowinkel
Executive Editor, Best’s Review®
+1 908 882 1771
patricia.vowinkel@ambest.com

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FGI launches the First Flush Guard™ Anti-Overflow Toilets at KBIS

The Flush Guard Patented Anti-Overflow Drain System Is the Cure for “Overflowbia”

 

EAST HANOVER, N.J. — (BUSINESS WIRE) — #AntiOverflow — FGI Industries, Ltd. (Nasdaq: FGI), a leading global supplier of kitchen and bath products, today announced the launch of Flush Guard at the Kitchen & Bath Industry Show (KBIS) in Las Vegas, NV. Leveraging an incredibly effective, patented anti-overflow drain system, Flush Guard Anti-Overflow Toilets effectively remove the fear of overflow, a feeling known as “Overflowbia.”

 

“Our research shows that ‘Overflowbia,’ or the fear of a toilet overflow, is very real – particularly among those who have experienced it firsthand,” explains Barry Jacobs, SVP of Product Development at FGI Industries. “Flush Guard’s anti-overflow drain system represents the next major innovation in toilets…one that brings with it a sense of emotional relief. With Flush Guard, consumers can literally ‘go in peace.’”

 

Flush Guard Anti-Overflow Toilets feature one of the most powerful flushes on the market, making them difficult to clog in the first place. But in the unlikely event that the main drain becomes clogged, the three anti-overflow holes in the bowl allow water to escape through a secondary drain. And that anti-overflow drain is self-cleaning with every flush.

 

Continuing the theme of stress reduction, Flush Guard Toilets are stylish, high-quality, and easy to keep clean. Both the primary and secondary drains empty into a standard waste pipe and utilize standard fittings, so there’s no special installation or plumbing required, making them excellent as new construction and replacement toilets alike. When used as a replacement, a Flush Guard Toilet completely covers the area of the old toilet thanks to the industry’s largest footprint. Any marks or tile discolorations are thereby hidden, eliminating the need for costly surface repairs.

 

“As North America’s largest and most comprehensive tradeshow dedicated to the kitchen and bath industry, we couldn’t imagine launching such a momentous leap forward in toilet technology in any other venue,” says Glen Paporello, VP of Marketing. “Attendees who stop by our KBIS booth #N1212 can see Flush Guard Anti-Overflow Toilets in action – along with our new ‘Overflowbia’ launch campaign.”

 

Flush Guard technology will initially be available to consumers on Craft + Main® brand toilets online and in-store through authorized distributors as of April 2024. To learn more about this revolutionary new toilet technology – or to become a distributor so you can help your customers go in peace – visit FlushGuardToilets.com.

 

About FGI Industries, Ltd.

FGI Industries, Ltd. (Nasdaq: FGI) is a leading global supplier of kitchen and bath products. For over 37 years, we have built an industry-wide reputation for product innovation, quality, and excellent customer service. We are currently focused on the following product categories: sanitaryware (primarily toilets, sinks, pedestals and toilet seats), bath furniture (vanities, mirrors and cabinets), shower systems, customer kitchen cabinetry and other accessory items. These products are sold primarily for repair and remodel activity and, to a lesser extent, new home or commercial construction. We sell our products through numerous partners, including mass retail centers, wholesale and commercial distributors, online retailers and specialty stores.

Contacts

Glen Paporello

FGI Industries, Ltd.

Glen.Paporello@FGI-Industries.com

Stefanie Fernandez

The S3 Agency

sfernandez@theS3agency.com

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The AACCNJ calls for an immediate moratorium on all public non-emergency public procurement contracts for up to $5M 

TRENTON, N.J. —  The African American Chamber of Commerce of New Jersey (AACCNJ) seeks the support of the Murphy Administration, NJ State Senate President Nicholas P. Scutari, Assemblyman and Speaker, Craig J. Coughlin, and NJ State Representative, and NJ Legislative Black Caucus Chair, Shavonda E. Sumter, in its request for a moratorium and on all non-emergency public procurement contracts up to five million effective immediately.

 

The AACCNJ formed a task force to spearhead the next steps with the Murphy Administration as a result of the findings of the State’s commissioned study, conducted by Mason Tillman Associates, LTD, which documented the institutional discrimination to African American businesses in NJ. The body of the Task Force believes that the moratorium is important because there are still opportunities that will be presented by the Murphy administration to consider but without an immediate moratorium, the same outcome will occur for those that have benefitted in the past.

 

“The moratorium will be a precursor to finding a remedy to the gross harm done to Black businesses in the state procurement process,” said John E. Harmon, Sr., IOM, Founder, President & CEO, AACCNJ.

 

“We believe this can be done without legislative approval. Contracts are still being doled out as we wait for the next steps. It is business as usual; this step is necessary; and past practices may be accelerated in anticipation of new standards to level the playing field,” said Harmon.

 

The task force is co-chaired by Dr. Denise Anderson, Denise Anderson and Associates and Ferlanda Nixon, Esq., Chief of Public Policy & External Affairs, AACCNJ. Committee Members include John E. Harmon, Sr., President CEO, AACCNJ, Gary Mann, Chairman of the Board, AACCNJ, Tammeisha Smith, Vice Chair of the Board, Stan Prater, Senior Advisor to AACCNJ President & CEO, Tanya Freeman, Esq, Chair of the Board, NY State Black Business Alliance (NYSBBA), Robert Johnson, Esq., Secretary, AACCNJ, Board of Directors, Marcus Dyer, CPA, Treasurer, AACCNJ, Board of Directors, Robert Warrington, Esq., AACCNJ Board of Directors, and Monique Nelson, Executive Chair, UWG.

 

“We anticipate more recommended best practices to ensure a more equitable participation for Black businesses in public procurement as we go forward to codify definitive goals that incentivize inclusion and cement our mutual commitment to have a stronger and more equitable economy with the Murphy administration, and public stakeholders,” said Harmon.

 

“We see the acceptance of this requested moratorium as a good faith effort to advance the state’s procurement efforts more equitably.”

 

AACCNJ Press Release:  The African American Chamber of Commerce of New Jersey (AACCNJ) hosted a Town Hall Meeting with over three hundred in attendance. Topic: “The Fierce Urgency of Now” – A Presentation on the State’s Disparity Study on Feb. 8, 2024.

 

“As we move forward, we ask the Governor and his administration to also hold a statewide meeting, to discuss the results of the disparity study,” said Harmon.

 

“The Administration needs to establish a race and gender-based program with minority and woman-owned business utilization goals to end the discriminatory practices in its award of contracts,” said Harmon.

 

“Our mutual goal henceforth is to have a more equitable participation in every area of the public sector wherein economic opportunities exist.”

 

“The Study, as expected, revealed that African American businesses received little of the $ 18.5 billion the Murphy administration spent on contracts for construction, professional services and goods and services from 2015 to 2020,” said John E. Harmon, Sr.

 

“While expecting the worst, little did we know that the Study would document African Americans received less than one (1) percent of the $18.5 billion dollars the State awarded to contractors. African American businesses received a pittance despite the fact that we represent, 14 percent of the population, and over 10 percent of the businesses in New Jersey willing and able to contract with the State.”

 

For updates on events and actions related to the recent Disparity Study, please visit aaccnj.com.

 

About the African American Chamber of Commerce of New Jersey

The African American Chamber of Commerce of New Jersey (AACCNJ) performs an essential role in the economic viability of New Jersey. While providing a platform for New Jersey’s African American business leaders, to speak with a collective voice, the AACCNJ advocates and promotes economic diversity fostering a climate of business growth through major initiatives centering on education and public policy. The Chamber serves as a proactive advocacy group with a 501(c) 3 tax exemption, which is shared by the National Black Chamber of Commerce.

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AM Best upgrades Credit Ratings of Independence Life and Annuity; affirms Credit Ratings of Sun Life Financial and most of its subsidiaries

OLDWICK, N.J. — (BUSINESS WIRE) — #insuranceAM Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” (Excellent) from “a-” (Excellent) of Independence Life and Annuity Company (Independence) (Wilmington, DE). The outlook of these Credit Ratings (ratings) has been revised to stable from positive.

 

Additionally, AM Best has affirmed the FSR of A+ (Superior) and the Long-Term ICRs of “aa” (Superior) of Sun Life Assurance Company of Canada (Ontario, Canada) and Sun Life and Health Insurance Company (U.S.) (Lansing, MI).

 

These companies are 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 Long-Term Issue Credit Ratings (Long-Term IRs) of SLF. (Please see below for a detailed listing of the Long-Term IRs.) 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 runoff subsidiary. The outlook of these ratings is stable.

The ratings of Independence reflect its balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, limited business profile, very strong enterprise risk management (ERM) and support from its parent organization. The rating upgrades of this entity are driven by its growth within the stop-loss insurance market beginning in 2020 after being in runoff prior to a strategic change. While premium growth remains moderate on an absolute basis, the company has seen meaningful growth on a percentage basis over the past several years.

 

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 ERM. The group has maintained a favorable risk-adjusted capital level over the long term, partly due to the extensive array of stress and scenario testing conducted on capital, earnings, liquidity and other key metrics. The company continues to produce strong operating earnings from a diverse mix of business lines leading to dominant market positions in several products.

 

Finally, the ratings of Professional Insurance Company 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 continues to manage the runoff of its remaining liabilities profitably.

 

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

Sun Life Financial Inc.—

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

— “a-” (Excellent) on CAD 1 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 stock, Series 3

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

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

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

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

— “bbb+” (Good) on CAD 171 million 2.967% Class A non-cumulative preferred stock, Series 10R

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

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 7.093% 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 stock

 

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 © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Kevin Varvaro

Senior Financial Analyst
+1 908 882 2410
kevin.varvaro@ambest.com

Michael Adams
Associate Director
+1 908 882 1592
michael.adams@ambest.com

Christopher Sharkey

Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

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How Sam Waterston’s Jack McCoy exited ‘Law & Order’

Jack McCoy is officially done in the courtroom. Sam Waterston appeared in his final episode of “Law & Order” on Thursday, Feb. 22.

 

Following a conviction and going against the mayor’s wishes to not question his son, he revealed to ADA Nolan (Hugh Dancy) that he was resigning.

 

“I’ve been thinking about this for a while. It’s time. It just is,” Jack said, revealing that since he went against the mayor’s wishes, the leader will do everything in his power to make sure Jack loses the election — and it will work.

 

“He’s going to bury everyone who wronged him, including you — especially you,” he continued. “If I step aside now, the governor will be able to appoint someone — someone with integrity.”

 

Jack then raised his glass for a cheers, stating, “It’s been a hell of a ride.” The hour ended with him outside, looking up at the courthouse.

 

Waterston, 83, joined the mothership series in 1994, starring in a leading role through the series’ original end in 2010. He returned in 2022 when the show was revived for its 21st season. He’s also played Jack McCoy on spinoffs “Law & Order: SVU” and “Law & Order: Trial by Jury” and the movie, “Exited: A Law & Order Movie.”

 

Earlier this month, Waterston released a statement about his exit. “Greetings, you wonderful people,” he began. “It’s a pleasure to talk directly like this to the backbone of Law & Order’s absolutely amazing audience. The time has come for me to move on and take Jack McCoy with me. There’s sadness in leaving, but I’m just too curious about what’s next. An actor doesn’t want to let himself get too comfortable. I’m more grateful to you than I can say. L&O’s continuing and amazing long run, along with its astounding come-back, is all thanks to you and to Dick Wolf, but for whose vision, patience, perseverance, and unique combination of creative and business talents, none of this would have happened. I feel very blessed. I hope to see you all on the flip side.”

 

Tony Goldwyn will be replacing McCoy as the new district attorney. Ahead of his debut, he shared photos from the set on Instagram, captioning the stills, “Some very large shoes to fill! First episode finished as DA Nicholas Baxter. Thanks to the L&O fam for being so welcoming!” He will be introduced during the March 14 episode.

 

 

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— Variety