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Inflation led to insurance coverage gaps and disaster resilience problems for many companies: New report

WOODBRIDGE, N.J. — (BUSINESS WIRE) — A new report from Global Risk Consultants Corp., a TÜV SÜD company, reveals that many companies are at risk of insurance coverage gaps due to inflation. Losses from wildfires, hurricanes, or accidents are resulting in insurance claims that don’t cover rebuilding or replacement costs.

The free market trends report, How Inflation Led to Property Insurance Coverage Gaps, explains that many companies inadvertently underreport valuations of properties and equipment to insurance carriers. Mismatches between reported values and actual values mean companies are left with coverage gaps and won’t collect enough to restart the flow of business after a claim. Construction costs are a major culprit. Everything costs more from paint (+26%) to wallboard (+18%) to roofing contractors (+21%).

 

“Companies must defend their values because underwriters are now requiring more data on how they determined asset valuations. A lot of companies are not prepared for that, meaning claims won’t pay for rebuilding or replacement costs,” said David Rix, Global Sales Manager at Global Risk Consultants.

 

The report also includes:

  • Year-over-year inflation data on construction and labor costs
  • Why rising construction prices lead to inaccurate insurance claims and coverage gaps
  • Common mistakes like relying on market value or valuations over 3 years old
  • Frequently asked questions about insurance asset valuations
  • Best practices for establishing credible insurable values and SOVs in an inflationary economy

Peter Linn, Vice President of Risk Engineering Services at Global Risk Consultants, said: “Property valuation is a key foundation of property underwriting and impacts several aspects of the insurance risk transfer process. This includes projected claims values, replacement costs, adequacy of coverage, and inflation considerations impacting future physical asset and BI values. Properties values that were appraised years ago may no longer be valid which can leave companies under- or over-insured, both having cost and claim recovery ramifications.”

 

To establish property and equipment valuations that are credible for underwriting, risk managers should partner with a seasoned valuation specialist.

 

Justin Chen, Global Manager for Property Valuation Services at Global Risk Consultants said:

“If it’s been three years or more since you’ve assessed valuations, it’s time to get going. Start early. For companies with large real estate portfolios, updating the SOV can be a multi-year process.”

 

About Global Risk Consultants

Global Risk Consultants is a wholly owned subsidiary of TÜV SÜD America Inc, the worldwide leader in unbundled property loss control, providing the risk management community with accurately qualified site-specific risk recommendations and loss expectancies resulting from property related perils. The company has worked with 20% of the Fortune 500, conducted 56,000 onsite engagements, serviced facilities in excess of $4 trillion, and helped clients reduce their risk exposure by $683 billion. Visit www.tuvsud.com/grc.

 

About TÜV SÜD America

TÜV SÜD America Inc., a subsidiary of TÜV SÜD AG (Munich, Germany), is a leading globally recognized testing and certification organization. TÜV SÜD’s Business Assurance division provides management system certification services to ISO 9001, ISO 14001, AS9100, Safe Quality Food (SQF), and more. TÜV SÜD’s Product Service division offers electrical and mechanical product safety, Electromagnetic Compatibility (EMC) testing, environmental testing, NRTL and SCC certification, CE marking assistance, restricted substance services, international compliance services, and more. TÜV SÜD America also provides a comprehensive suite of services for the medical device sector as a European Union notified body for the medical device, active implantable medical device and in-vitro diagnostic device directives, and a complete service portfolio including ISO 13485 and MDSAP certification, FDA 510(k) and third-party inspections. The company’s Industry Services division offers a full suite of services for pressure equipment manufacturers and materials producers exporting products to the European Community. The Industry Services division also includes TÜV SÜD Risk Consulting, the leading global provider of unbundled property loss control services. Visit www.tuvsud.com/en-us.

Contacts

Jared Shelly

TÜV SÜD Global Risk Consultants

Jared.shelly@tuvsud.com
267-788-1993

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Business Culture Lifestyle News Now! Perks

Shannon Hennessy promoted to The Habit Burger Grill Division CEO

Hennessy succeeds Russ Bendel who is retiring

 

LOUISVILLE, Ky. — (BUSINESS WIRE) — Yum! Brands, Inc. (NYSE: YUM) today announced the promotion of Shannon Hennessy to The Habit Burger Grill Division Chief Executive Officer, reporting to Yum! Chief Executive Officer David Gibbs, effective June 6.

 

Hennessy, who currently serves as President of The Habit Burger Grill Division, will succeed Russ Bendel, who has announced his decision to retire at the beginning of June after a successful decades-long career in the restaurant industry. As CEO, Hennessy will continue to build on the brand’s unique strengths and assume responsibility for driving its overall growth strategies and performance.


“Shannon is an exceptional, heart-led leader who was named President of The Habit Burger Grill Division in July 2022 and has since driven meaningful advances for the brand in development, top line initiatives and digital sales growth,” said Gibbs.

 

“With Shannon’s background as KFC Global Division CFO and her nearly 20 years with McKinsey & Company, she has a unique skillset that will be vital as we continue to scale The Habit, offering our franchisees an investment opportunity in an award-winning, fast-casual concept in the better-burger category with a long runway for growth. I’m thrilled Shannon and Russ have worked so closely together to ensure a seamless transition and am confident in the long-term growth of The Habit.”

 

As President of The Habit Burger Grill, Hennessy has overseen development, franchising, marketing and international expansion. In this role, she has also been responsible for contributing to the brand’s strategy to accelerate growth, nurturing cross-brand collaboration and driving company culture. Hennessy joined Yum! in 2020 as the Chief Financial Officer of KFC Global Division, where she was responsible for leading the global finance function and ensuring continued growth and profitability of the KFC business. She also oversaw the brand’s global financial planning, supply chain management and strategy functions.

 

“I fell in love with The Habit on my first bite of a Charburger, so it’s the thrill of my career to take the reigns as CEO,” said Hennessy. “I’m grateful to have worked alongside Russ over the past eight months, as he is truly a legend in the restaurant industry. I’m also excited to continue working with our passionate team and franchisees to drive accelerated growth for the brand while offering our customers the delicious, handcrafted quality food, meaningful variety and choice and family hospitality they’ve come to expect from The Habit.”

 

Russ Bendel joined The Habit in 2008, growing the brand from 16 restaurants to approximately 350 restaurants by the end of 2022. Under Bendel’s leadership and relentless attention to operations, he led a major brand transformation that introduced drive-thrus and digital order channels to meet growing needs for convenience. Over the years, The Habit has received multiple awards, including being recognized as having the Best Tasting Burger in America by Consumer Reports in 2014 and earning the No. 1 spot in the USA TODAY Readers’ Choice list of 10 Best Regional Fast-Food Chains in America in 2019 and 2021. Prior to joining The Habit, Bendel served as President and Chief Operating Officer of The Cheesecake Factory. Bendel’s career also includes tenures as President and Chief Executive of Mimi’s Café, President of Roy’s Restaurants, Franchise Partner of Outback Steakhouse in California and Chief Operating Officer of El Torito Restaurants and Panda Express.

 

“Russ is one of the best and most accomplished restaurateurs in the industry that I’ve ever had the pleasure of working with, and his passion for people, operations and restaurant excellence has always shined through,” said Gibbs. “Russ’ commitment and vision have made The Habit Burger Grill a powerful growth brand with delicious food and an extremely bright future, and we’re proud to continue to build on the legacy he is leaving. I want to thank Russ for his decades of leadership in the industry and wish him well as he enjoys this new phase of life with his family.”

 

Yum! Brands acquired The Habit Burger Grill in March 2020, adding an award-winning brand in the better-burger category with a diverse, California-style menu to its portfolio. In 2022, The Habit grew the franchise base of its approximately 350 restaurants to 18%, up five percentage points from the previous year. In addition, The Habit ended 2022 with a digital mix of 35% and delivered $2 million in average unit volumes.

 

About The Habit Restaurants, Inc.

Born in Santa Barbara, California, in 1969, The Habit Burger Grill is a burger-centric, fast-casual restaurant concept that specializes in preparing fresh, cooked-to-order chargrilled burgers and handcrafted sandwiches featuring grilled tenderloin steak, grilled chicken and sushi-grade ahi tuna cooked over an open flame. In addition, it features fresh handcrafted salads and an appealing selection of sides and shakes. The Habit Burger Grill was featured in Newsweek’s “America’s Favorite Restaurant Chains 2023;” its Tempura Green Beans were named as the top green bean dish in The Daily Meal’s “Ranking Green Bean Dishes From 11 Chain Restaurants” in 2023; and it was named in Thrillist’s list of “Underrated Burger Chains that Need to be in Every State!” The Habit Burger Grill has grown to nearly 340 restaurants in 14 states throughout Arizona, California, Florida, Idaho, Maryland, Massachusetts, Nevada, New Jersey, North Carolina, Pennsylvania, South Carolina, Utah, Virginia and Washington as well as 11 international locations. More information is available at www.habitburger.com.

 

About Yum! Brands

Yum! Brands, Inc., based in Louisville, Kentucky, and its subsidiaries franchise or operate a system of over 55,000 restaurants in more than 155 countries and territories under the company’s concepts – KFC, Taco Bell, Pizza Hut and The Habit Burger Grill. The Company’s KFC, Taco Bell and Pizza Hut brands are global leaders of the chicken, Mexican-style food and pizza categories, respectively. The Habit Burger Grill is a fast-casual restaurant concept specializing in made-to-order chargrilled burgers, sandwiches and more. In 2023, Yum! Brands was included on the Bloomberg Gender-Equality Index and Newsweek’s lists recognizing America’s Most Responsible Companies, America’s Greatest Workplaces for Diversity and America’s Greatest Workplaces for Women. In 2022, the Company was named to the Dow Jones Sustainability Index North America.

Contacts

Analysts are invited to contact:
Jodi Dyer, Vice President, Investor Relations, at 888/298-6986

Members of the media are invited to contact:
Virginia Ferguson, Vice President, Public Relations, at 502/874-8200

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News Now! Regulations & Security

Law Enforcement Against Drugs & Violence (L.E.A.D.) launches partnership with National Night Out (NNO)

Two organizations working to strengthen the relationship between law enforcement and communities form partnership to advance police-community relationships

 

ALLENTOWN, N.J. — (BUSINESS WIRE) — Law Enforcement Against Drugs & Violence (L.E.A.D.), a nationwide nonprofit that works with communities to help students understand the dangers of drugs and violence, has entered into a partnership with National Night Out (NNO), an annual community-building campaign that brings the police and neighbors together under positive circumstances, this year.

 

While working together on their shared mission to bridge the gap between law enforcement and communities, L.E.A.D. and NNO will include one another’s logos on their materials, and NNO will distribute L.E.A.D.’s literature to organizations that host NNO events.

 

On the first Tuesday in August, millions of neighbors take part in NNO across thousands of communities from all fifty states, U.S. territories and military bases worldwide, although Texas and other select areas celebrate on the first Tuesday of October. Last year, there were 16,621 NNO events, where neighborhoods hosted block parties, festivals, parades, cookouts and several other community events with visits from safety demonstrations and emergency personnel.

 

“It was important for us to partner with an organization that’s also working to improve the bond between law enforcement and communities, so we’re confident that NNO is the perfect match,” said Nick DeMauro, CEO of L.E.A.D.

 

“Every day, we have police officers across the country that are strengthening their relationship with young students by teaching them why avoiding drugs and violence is vital. We’re thrilled to work with NNO to promote our shared belief in police-community relationships and see how partnering with them continues to change the way that people among various communities interact with the police.”

 

L.E.A.D. provides services “on the street” and “in the classroom” as it brings law enforcement and communities closer together. The “in the classroom” program is taught by 3600 trained instructors in 41 states.

 

L.E.A.D. has a proven effective, law enforcement-focused anti–drug, anti–violence curriculum for K-12 students in the U.S. The L.E.A.D. curriculum is taught over the course of a 10-week program to educate youth on how they can make smart decisions without the involvement of drugs or violence.

 

“Since the organization’s main mission is to help communities understand that police officers are people they should rely on rather than feel angst towards, we couldn’t think of a better partnership than with L.E.A.D.,” said Executive Director of the National Association of Town Watch (NATW) and Creator of NNO, Matt Peskin.

 

“We appreciate that L.E.A.D. is using education on such a prominent subject matter, the dangers of drugs and violence, to better the relationship between police forces and communities. We’re excited to attend their annual drug and violence prevention conference later this month, and we look forward to continuing improving police-community bonds together.”

 

About L.E.A.D.

L.E.A.D. provides the leadership, resources and management to ensure law enforcement agencies have the means to partner with educators, community leaders, and families. L.E.A.D. succeeds by providing proven and effective programs to deter youth and adults from drug use, drug related crimes, bullying and violence. L.E.A.D. is committed to reinforcing the mutual respect, goodwill and relations between law enforcement and their communities. For more information, visit https://www.leadrugs.org/.

 

About NNO

NNO is an annual community-building campaign that promotes police-community partnerships and neighborhood camaraderie to create safer, more caring neighborhoods. NNO enhances the relationship between neighbors and law enforcement while bringing back a true sense of community. The organization provides a great opportunity to bring police and neighbors together under positive circumstances through its community-building events with seminars, activities for youth, exhibits and much more. For more information, visit https://natw.org/.

Contacts

For media inquiries:

Ariel Kaplan

Zito Partners

781-774-0023

ariel@zitopartners.com

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Business Culture News Now! Perks

Cherry Hill Mortgage Investment Corporation announces appointment of Sharon Lee Cook to Board of Directors

FARMINGDALE, N.J. — (BUSINESS WIRE) — Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) is pleased to announce the appointment, effective as of March 8, 2023, of Sharon Lee Cook to the Board of Directors to serve out the term of Ms. Regina Lowrie, who passed away on January 1, 2023.

 

Ms. Cook is independent in accordance with NYSE listing standards, has been appointed to serve on the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committees of the Board and will participate in the same compensation programs as the other non-management directors.

 

“We are excited to welcome Ms. Cook to our Board,” said Jay Lown, President and Chief Executive Officer of Cherry Hill Mortgage Investment Corporation.

 

“We are thrilled to have someone of her caliber and wealth of experience to further strengthen our Board, and I have the utmost respect for Ms. Cook both personally and professionally. We expect her insights and perspective will provide us with considerable value as we navigate through the current environment.”

 

Ms. Cook is the founder and president of OLE Three Consulting, Inc., a management advisory firm that she founded in March 2022.

 

Previously, she was a managing director at securities firm Incapital LLC, a managing director at investment banking firm D.A. Davidson & Co., and a managing director at Sterne, Agee & Leach Inc. Before that, Ms. Cook was a senior economic and policy advisor to the deputy director of the U.S. Department of Treasury’s Office of Thrift Supervision where she participated in the resolution of failing banks, and the development of the Troubled Assets Relief Program (TARP) and the Home Affordable Modification Program (HAMP).

 

Earlier in her career, Ms. Cook spent 12 years as a managing director at investment management firm Legg Mason Wood Walker Inc. and was the deputy assistant director at the Federal Deposit Insurance Corporation (FDIC) for five years. She is a member of the board of directors of the Prevent Cancer Foundation, where she serves on the Finance Committee, and she is a member of the National Association for Corporate Directors. She is a graduate of The George Washington University.

 

About Cherry Hill Mortgage Investment Corporation

Cherry Hill Mortgage Investment Corporation is a real estate finance company that acquires, invests in and manages residential mortgage assets in the United States. For additional information, visit www.chmireit.com.

Contacts

Investor Relations

(877) 870 –7005

InvestorRelations@CHMIreit.com

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Business Culture Local News News Now! Regulations & Security

Mercer County celebrates National Consumer Protection Week

Unveils new online complaint form

 

To mark National Consumer Protection Week, March 5-11, 2023, Mercer County Exec. Brian M. Hughes announces the county’s new simplified filing process for consumers who believe their rights have been violated and wish to make complaint with the County’s Consumer Affairs office.

Photo: Mercer County Executive Brian M. Hughes at the annual Consumer Bowl

 

“If you believe you’ve been cheated or victimized by an unscrupulous business, our professionals in the Mercer Consumer Affairs office can be your advocate,” Mr. Hughes said.

 

To file a complaint online, consumers can go directly to the fillable form at: https://mercercountyconaffnj.govqa.us/WEBAPP/_rs/(S(moareydl225kumool0fbnhcy))/supporthome.aspx

 

Mercer’s Division of Consumer Affairs can assist consumers in other ways, too. NCPW is a time when government agencies, consumer protection groups, and organizations like ours work together to share information about consumer rights and help people learn to spot, report, and avoid scams.

 

For instance, are you looking to protect yourself from fraud, identity theft, and scams? Wondering about the best way to improve your credit, shop for a used car, or how to maximize your security online?

 

Mercer County Division of Consumer Affairs can help.

 

“Here in Mercer County, our office is available to host events to educate and inform about current scams, consumer protection, how to know if a contractor is registered, and more,” Mr. Hughes said. “Year round, our Consumer Affairs and Weights and Measures teams are in the field ensuring that you get what you pay for, and you know with whom you’re dealing by investigating complaints or patterns of fraud and enforcing the Consumer Fraud Act and state regulations.”

 

Go to https://www.mercercounty.org/departments/consumer-affairs for more information. Also, visit ftc.gov to learn how to get free consumer education materials and read the latest from consumer protection experts.

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Business Culture News Now!

MetLife Investment Management completes acquisition of Raven Capital Management

WHIPPANY, N.J. — (BUSINESS WIRE) — MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), announced that it has completed its acquisition of alternative investment firm Raven Capital Management. Announced in February 2023, the transaction adds approximately $2.1 billion to MIM’s total assets under management.

 

“We’re pleased to announce the completion of our acquisition of Raven, which complements our already strong private credit platform and deepens our origination capabilities,” said Steven J. Goulart, president of MIM and executive vice president and chief investment officer for MetLife. “Together, we’re looking forward to offering a broader set of credit strategies and investment capabilities to our clients.”

 

Raven is primarily focused on direct asset-based investments, including senior secured loans as well as the outright purchase of cash-flowing assets. The team invests across the private credit spectrum, with a specialization in primary origination, underwriting, execution and management of middle market direct asset-based investments.

 

About MetLife Investment Management

MetLife Investment Management, the institutional asset management business of MetLife, Inc. (NYSE: MET), is a global public fixed income, private capital and real estate investment manager providing tailored investment solutions to institutional investors worldwide. MetLife Investment Management provides public and private pension plans, insurance companies, endowments, funds and other institutional clients with a range of bespoke investment and financing solutions that seek to meet a range of long-term investment objectives and risk-adjusted returns over time. MetLife Investment Management has over 150 years of investment experience and, as of December 31, 2022, had $579.8 billion in total assets under management.

 

About MetLife

MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates “(MetLife),” is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help individual and institutional customers build a more confident future. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.

 

Forward-Looking Statements

The forward-looking statements in this news release, using words such as “looking forward” and “seek,” are based on assumptions and expectations that involve risks and uncertainties, including the “Risk Factors” MetLife, Inc. describes in its U.S. Securities and Exchange Commission filings. MetLife’s future results could differ, and it does not undertake any obligation to publicly correct or update any of these statements.

Contacts

For Media:
Dave Franecki

+1-973-264-7465

dave.franecki@metlife.com

Shree Dhond

(646) 722-6531

mim@dlpr.com

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Business Digital - AI & Apps Healthcare Lifestyle News Now! Science

CORRECTING and REPLACING zant. announces Jim Lusk as investor

zant., a mental health app dedicated to delivering low-cost support to college students announces Jim Lusk as an investor.

 

BRIDGEWATER, N.J. — (BUSINESS WIRE) — Please replace the release dated January 26, 2023 with the following corrected version due to multiple revisions.

The updated release reads:

 

ZANT. ANNOUNCES JIM LUSK AS INVESTOR

zant., a mental health app dedicated to delivering low-cost support to college students announces Jim Lusk as an investor.

 

zant. believes that mental health professionals exist across a spectrum of services and conduct the work they do with the ultimate goal of supporting those struggling. They aim to use the resources they have throughout the team and investment to do something about the fragmented and broken system that exists today within the mental health industry.

 

According to MarketWatch, today, “one-third of Americans can’t afford therapy,” which is where zant. comes in. The revolutionary mental health app has focused its differentiation on low rates starting at $25 per session, special features to manage all aspects of finding, scheduling, paying, and having the session in one place, and offering services from life coaches, counselors, and specialists. As they continue in their fundraising efforts, zant. is thrilled to announce Jim Lusk as an investor. With extensive experience in strategic planning and business strategy, finance, and beyond – Lusk brings a wealth of knowledge to the team.

 

Lusk shared his enthusiasm for joining zant.: “I am proud to join zant., as it truly is leading the way in this sector of mental health in making traditional and non-traditional services accessible for all people regardless of their age, location, or financial and insurance situation.” He added, “zant.’s mission perfectly aligns with what I believe every person should have access to; high-quality mental health support without breaking the bank.”

 

Lusk earned his Bachelor’s degree from The Wharton School and his Master of Business Administration (MBA) from Seton Hall University. His expertise in various aspects of business has been utilized in multiple executive roles since 1994 starting at the AT&T Corporation. Lusk has served as the interim CFO for Lucent, CFO for ABM Industries, and CFO for Bioscrip.

 

Lusk has a variety of skills which includes finance, treasury, and accounting. His expertise includes financial planning and analysis, operations, along with mergers and acquisitions activities allowing him to gain an understanding of global markets that can be applied to zant.’s growth.

 

“When I first met Jim, I could feel his passion and overwhelming love for people. I was not only thrilled to hear about his interest in investing himself but alongside his wife as a joint investment,” said Maggie Rose Macar, founder and CEO of zant. “Jim is and will continue to make an impact on the zant. team as a mentor and advisor, someone who is encouraging, passionate about helping others, and despite his busy schedule, makes time to meet with our team members and share his wealth of knowledge without hesitation.”

 

As an investor with zant., Lusk will continue to provide valuable insight into strategies that are designed to deliver lasting results that benefit this innovative mental health app, which is currently utilized by Americans around the country.

 

zant. launched September 1st on the iOS App Store and is now available for download on the Google Play Store for android users. To invest in zant., contact investments@zant.app and head to www.zant.app for more information.

 

zant. is a mobile app offering over 25 categories of support at low costs with discounted student and standard rates. We envision a world where mental health services are accessible, affordable, and still remain high-quality.

Contacts

Jake Ciccarelli, jake@zant.app

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Culture Education News Now! Special/Sponsored Content

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

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

 

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

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

 

The specific outcomes of SeeHer Education include:

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

 

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

 

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

 

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

 

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

 

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

 

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

 

ABOUT THE ANA

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

 

ABOUT THE AEF

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

 

ABOUT SEEHER

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

Contacts

Christa Dallas, Wolf-Kasteler Public Relations

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

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Business Lifestyle News Now!

PGIM Investments launches growth, value and multi-asset ETFs

Time-tested, actively managed strategies now available as ETFs


NEWARK, N.J. — (BUSINESS WIRE) — PGIM Investments has launched three actively managed ETFs — the PGIM Jennison Focused Growth ETF (PJFG), the PGIM Jennison Focused Value ETF (PJFV) and the PGIM Portfolio Ballast ETF (PBL).

 

With these launches, PGIM Investments expands its lineup of active ETFs to eight funds. The new funds complement PGIM Investments’ existing suite of actively managed fixed income ETFs.

 

“PGIM continues to expand access to our time-tested investment strategies by bringing them to market in the ETF wrapper. These new funds offer compelling investment strategies, combined with the benefits of the ETF structure, including increased transparency and greater tax-efficiency,” said Stuart Parker, president and CEO of PGIM Investments.

 

FULLY TRANSPARENT GROWTH AND VALUE ETFS

The PGIM Jennison funds are fully transparent ETFs with concentrated, high-conviction portfolios. Jennison’s equity investment approach is rooted in deep, fundamental research and bottom-up security selection. Both funds’ investment strategies are substantially similar to those of their respective mutual fund and institutional strategy counterparts.

 

The PGIM Jennison Focused Growth ETF (PJFG) seeks to provide long-term growth of capital by investing in a focused portfolio of primarily mid- and large-capitalization stocks believed to have strong capital appreciation potential. The Fund’s investment team believes that excess returns can be generated by investing in market-leading companies that create economic value through unique business models, long-duration competitive advantages and catalysts that drive growth rates well above that of the market.

 

The PGIM Jennison Focused Value ETF (PJFV) seeks to provide long-term growth of capital by investing in a focused portfolio of predominantly large-capitalization companies believed to be undervalued compared to their perceived worth. The Fund’s investment team looks for companies that have one or more of the following characteristics: attractive valuation metrics that are unique to that business, high levels of durability and viability of the business, good business models that are being mispriced, high returns on assets and/or equity, high free cash flow yields, management teams that are willing to make changes, and/or something operationally wrong that can be fixed or is temporary.

 

A MULTI-ASSET ETF TO HELP NAVIGATE MARKET VOLATILITY

The PGIM Portfolio Ballast ETF (PBL), seeks to provide long-term capital growth with reduced volatility compared to the equity market. PBL’s long-term goal is to capture 60% of the performance of the S&P 500 on average in appreciating equity markets, and to capture 30% of the performance of the S&P 500 on average in declining equity markets over a market cycle.

 

Like ballast on a ship providing critical stability amid rough waters, the PGIM Portfolio Ballast ETF offers what may be an attractive and uniquely diversifying solution in the face of uncertain and turbulent markets.

 

PBL’s underlying strategy is substantially similar to the U.S. Market Participation Strategy (MPS) — an institutional strategy with a live 30-year track record and more than $1 billion of client capital as of Oct. 31, 2022. Both MPS and PBL are managed by PGIM Quantitative Solutions, the quantitative and multi-asset specialist of PGIM.

 

ABOUT PGIM INVESTMENTS

PGIM Investments LLC and its affiliates offer more than 100 funds globally across a broad spectrum of asset classes and investment styles. All products draw on PGIM’s globally diversified investment platform that encompasses the expertise of managers across fixed income, equities, alternatives and real estate.

 

ABOUT JENNISON ASSOCIATES LLC

Founded in 1969, Jennison Associates offers a range of equity and fixed income investment strategies. Its equity expertise spans styles, geographies, and market capitalizations. Its fixed income capability includes investment-grade active and structured strategies of various durations. Original fundamental research, specialized investment teams, strong client focus, and highly experienced investment professionals are among the firm’s competitive distinctions. As of Sept. 30, 2022, Jennison managed $164 billion in client assets. For more information, please visit jennison.com.

 

ABOUT PGIM QUANTITATIVE SOLUTIONS

PGIM Quantitative Solutions is the quantitative equity, systematic macro, and multi-asset specialist of PGIM. For more than 45 years, PGIM Quant Solutions has helped investors around the world solve their unique needs by leveraging the power of technology and data as well as advanced academic research. PGIM Quant Solutions manages portfolios across equities, multi-asset and liquid alternatives and also offers defined contribution solutions. As of Sept. 30, 2022, PGIM Quant Solutions managed $81 billion in client assets. For more information, please visit pgimquantitativesolutions.com.

 

ABOUT PGIM

PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU), a leading global investment manager with more than $1.2 trillion in assets under management as of Sept. 30, 2022. With offices in 18 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives. For more information about PGIM, visit pgim.com.

 

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

 

Consider a fund’s investment objectives, risks, charges and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. Contact your financial professional for a prospectus and summary prospectus. Read them carefully before investing.

 

Investing in mutual funds and ETFs involves risks. Some funds have more risk than others. The investment return and principal value will fluctuate and shares when sold may be worth more or less than the original cost and it is possible to lose money.

 

Funds are distributed by Prudential Investment Management Services LLC, a Prudential Financial company and FINRA member firm. Jennison Associates is a registered investment advisor. PGIM Quantitative Solutions is a wholly owned subsidiary of PGIM. Both are Prudential Financial companies. © 2022 Prudential Financial, Inc. and its related entities. Jennison, PGIM Quantitative Solutions, PGIM and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

 

Investment products are not insured by the FDIC or any federal government agency, may lose value, and are not a deposit of or guaranteed by any bank or any bank affiliate.

 

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Contacts

MEDIA
Kylie Scott

+1 973 902 2503

kylie.scott@pgim.com

Categories
Business International & World News Now! Perks

AM Best affirms credit ratings of Tune Protect Re Ltd.

SINGAPORE — (BUSINESS WIRE) — AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Tune Protect Re Ltd. (TPR) (Malaysia). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect TPR’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

 

TPR’s balance sheet strength assessment is underpinned by its risk-adjusted capitalisation that is expected to remain at the strongest level over the medium term, as measured by Best’s Capital Adequacy Ratio (BCAR). AM Best views the company as having a moderate risk investment strategy with investment assets predominantly held in unit trust funds, whereby the underlying assets are mainly fixed-income securities with good credit quality. Partial offsetting balance sheet factors include the company’s modest-sized absolute capital base compared with peer reinsurers (USD 36 million at year-end 2021), which increases the susceptibility of capital adequacy to volatility under stressed scenarios. AM Best’s balance sheet strength analysis also incorporates a neutral holding company impact following an assessment of consolidated risk-adjusted capitalisation of TPR’s parent group, Tune Protect Group Berhad (TPG).

 

AM Best considers TPR’s operating performance to be adequate. Whilst TPR’s revenue and operating earnings were impacted adversely amid the COVID-19 pandemic, the company has been able to grow its premium base through geographical expansion and new business partners in recent periods. Prospectively, TPR is expected to achieve moderate revenue growth and robust operating earnings over the medium term, driven by the recovery of air travel and new product initiatives. However, the performance metrics remain sensitive to the company’s ability to develop and maintain profitable arrangements with distribution partners. TPR recorded a five-year average net investment yield of 2.9% (2017-2021).

 

AM Best assesses TPR’s business profile as limited given its position as a niche reinsurer with a focus on travel-related insurance products. TPR leverages TPG’s in-house technology platform to support and distribute policies in collaboration with corporate partners including airlines and travel agencies. Over the medium term, the company is expected to accelerate its diversification into new lines of business (including lifestyle and supplemental healthcare products) and new business partners.

 

Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.

 

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 specialising 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

Yi Ding
Senior Financial Analyst
+65 6303 5021
yi.ding@ambest.com

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

Michael Dunckley, CFA
Director, Analytics
+65 6303 5020
michael.dunckley@ambest.com

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