Category: Perspectives

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D&R Greenway Land Trust announces Holiday Open House and ‘Talk about Trees’ at the Discovery Center at Point Breeze in Bordentown

The public is invited to a Holiday Open House on Saturday, Dec. 2, 2 to 4 p.m. at D&R Greenway Land Trust’s Discovery Center at Point Breeze, located at 101 Park St., Bordentown, N.J.

 

The public is invited to enjoy mulled cider, hot chocolate and cookies at a Holiday Open House at D&R Greenway’s Discovery Center at Point Breeze on Saturday, Dec. 2,  2 p.m. to 4 p.m.

Photo –  Display case in the Natural World Room at the Discovery Center at Point Breeze includes tree core samples among Native American and bird exhibits.

 

Located at 101 Park Street, Bordentown, N.J., the Discovery Center was created by D&R Greenway Land Trust in a renovated historic home that belonged to Joseph Napoleon Bonaparte’s gardener in the early 1800s. The house will be open with exhibits about the history, land and people of Point Breeze, including the Lenape and Bonaparte.

Photo – Historic Map showing location of historic trees at Point Breeze

 

During the month of December, a Holiday Tree will grace the Crown Jewels Gallery.

 

Visitors are invited to bring an ornament to decorate the tree, commemorating the history of Point Breeze, the natural features that can be found on the land or the local community. Homemade Fleur de Lis ornaments will be available to decorate for a small donation.

 

On Sunday, Dec. 10, at 1 p.m., Dr. Dan Druckenbrod of Rider University will present “Talk about Trees” to tell the story of historic trees he has discovered on the Point Breeze land through a survey and tree core sampling.  Three of Dr. Druckenbrod’s core samples are on display at the Discovery Center, including one from a tree dated before the Bonaparte era.

 

A noted dendrologist, he has conducted a scientific study that began under the ownership of Divine Word Missionaries and continued with permission from the State and co-managers the City of Bordentown and D&R Greenway.  Dr. Druckenbrod is preparing to publish a book on his work and will reveal previously unknown facts. This will be a unique opportunity to hear about his discoveries first-hand.  Please send RSVP’s to info@drgreenway.org for the Dec. 10 Talk About Trees lecture.

 

Photo – Welcome to the Holiday Open House at the Discovery Center

These two events, the Holiday Open House on Saturday, Dec. 2, and the “Talk about Trees” on Sunday, Dec. 10, celebrate the Discovery Center’s new weekend visitor hours. Beginning in December, the Discovery Center will be open on Saturdays and Sundays from 12 Noon – 4 p.m. every weekend. The Discovery Center will be closed on Christmas Eve and New Years Eve. Special holiday hours have been added on Dec. 26 – 27 to accommodate families who are home for the holidays.

 

Layers of history are represented at the Discovery Center.  Visitors learn the preservation story and about the land’s Lenape inhabitants in the Peoples Room. The Crown Jewels Gallery showcases special features of Point Breeze, seen as the “crown jewels” that can be found on the land, in reference to Bonaparte’s escape as King of Spain from where he is reputed to have taken the Crown Jewels to support his lifestyle in exile. Climbing a staircase to the second floor, visitors pass beneath an Italian glass chandelier that symbolizes Joseph and his brother Napoleon Bonaparte’s Italian ancestry and birth on the island of Corsica.

 

In the Walk Through Time Room, visitors view an 1819 painting of Jospeh Bonaparte, thanks to the family of Louis Mailliard, his lifelong confidant and Secretary. Turing to the Natural World room, stories focus on nature and the Delaware River, including the nearly extinct sturgeon and birds seen by John James Audubon and ornithologist Charles Lucien Bonaparte.

 

Admission to the Discovery Center at Point Breeze is free.  A suggested donation of $10 provides the donor with a souvenir magnet and supports programs and exhibits. RSVP to info@drgreenway.org.

 

Beginning in December, the new open hours for visitors will be Saturdays and Sundays from 12 noon- 4 p.m.  A special holiday lecture, Talk about Trees, will be presented on Sunday, Dec. 10, at 1 p.m. during Visitor Hours. Holiday hours include the afternoons of Dec. 26 – 27.

 

The Discovery Center will be closed on Christmas Eve and New Year’s Eve.

 

Group tours may be scheduled on weekdays by appointment. Information is available at www.drgreenway.org, or by calling D&R Greenway at 609-924-4646. RSVP to info@drgreenway.org.

About D&R Greenway Land Trust: D&R Greenway Land Trust is an accredited nonprofit that has reached a new milestone of over 22,000 acres of land preserved throughout central New Jersey since 1989. By protecting land in perpetuity and creating public trails, it gives everyone the opportunity to enjoy the great outdoors. The land trust’s preserved farms and community gardens provide local organic food for residents of the region—including those most in need. Through strategic land conservation and stewardship, D&R Greenway combats climate change, protects birds and wildlife, and ensures clean drinking water for future generations.

 

D&R Greenway’s mission is centered on connecting land with people from all walks of life. www.drgreenway.org; info@drgreenway.org. Follow us on Facebook and Instagram.

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AM Best affirms Credit Ratings of NongHyup Property and Casualty Insurance Company Limited

HONG KONG — (BUSINESS WIRE) — AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of NongHyup Property and Casualty Insurance Company Limited (NH P&C) (South Korea). The outlook of these Credit Ratings (ratings) is stable.

 

The ratings reflect NH P&C’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. The ratings also reflect the implicit and explicit support the company receives from its ultimate parent, National Agricultural Cooperative Federation (NACF).

 

NH P&C’s risk-adjusted capitalisation is assessed at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). The company’s solid expansion of retained earnings in recent periods, backed by its no-dividend policy and improved earnings, provided a partial buffer against the negative capital pressure (under IFRS 4) due to the valuation loss on available-for-sale bonds from rapid interest rate hikes in 2022. NH P&C’s financial flexibility is supported by its good accessibility to the capital market underpinned by its previous issuances of subordinated bonds and additional financial support from its immediate parent, NongHyup Financial Group Inc. (NHFG). The company has a conservative investment portfolio consisting mainly of fixed-income assets, with increased focus on asset-liability management to enhance its capital management.

 

AM Best assesses NH P&C’s operating performance as adequate, with a weighted five-year average operating ratio of 96.4% (2018-2022) and a return-on-equity ratio of 6.3%. The year-over-year increase in the company’s net income in 2022 was mainly driven by improved investment returns, supported by stable interest income from its bond portfolio amid the elevated interest rate environment and favourable excess return on alternative investments. Albeit moderately volatile depending on weather events, AM Best expects NH P&C’s prospective underwriting performance to remain supported by growing long-term protection products with favourable margins, coupled with improved profitability of government policy insurance lines.

 

NH P&C is a domestic non-life insurer in South Korea, with a 4.6% market share in terms of gross premiums written in 2022. The company is an exclusive (or major) provider of government policy insurance products for the country’s farmers, such as crop, livestock and agricultural vehicle insurances.

 

In its largest business line of long-term insurance, which NH P&C maintains a modest market share, the company has been gradually expanding protection-type product sales to secure its profitability and aims to diversify into non-cooperative channels, such as general agent and tied-agent channels. However, overall premium growth of the long-term line has remained limited due to strong market competition. Distribution remains highly concentrated in the cooperative channel, which is a network of NACF’s members.

 

As a wholly owned subsidiary of NHFG, which is the financial arm of NACF and one of the largest financial groups in South Korea, NH P&C is strategically important to NACF, given its role as the exclusive provider of government policy insurance products to cooperative members. AM Best also recognises various forms of explicit support, such as capital support from NHFG, as well as direct reinsurance support and full expense reimbursement from the government for its crop insurance line.

 

Negative rating actions could occur if there is a sustained deteriorating trend in NH P&C’s operating performance. Negative rating actions could also arise if the level of support or the company’s strategic importance to NACF is reduced to a degree that no longer supports the current level of enhancement. Positive rating actions could occur if NH P&C’s business profile improves in a sustainable manner, for example, through successful channel diversification that results in a materially enhanced market presence without deterioration in its risk-adjusted capitalisation and operating profitability. Positive rating actions could also occur if the company’s balance sheet strength fundamentals demonstrate sustained improvement.

 

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 © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Seokjae Lee
Financial Analyst
+852 2827 3407
seokjae.lee@ambest.com

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

Chanyoung Lee
Director, Analytics
+852 2857 3404
chanyoung.lee@ambest.com

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

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ExtensisHR certified as a Great Place To Work®

Third certification continues a legacy of exceptional company culture

 

WOODBRIDGE, N.J.–(BUSINESS WIRE)–#HR—ExtensisHR, a nationally recognized Professional Employer Organization (PEO) and HR Outsourcing (HRO) services provider, is proud to announce it has earned another Great Place To Work® Certification™.

 

This prestigious award is based entirely on current employee feedback and underscores the company’s commitment to fostering an outstanding work environment. This year, 93% of team members stated ExtensisHR is a great place to work—almost 40 points higher than the average U.S. company.

 

Great Place To Work® is the global authority on workplace culture, employee experience, and leadership behaviors proven to deliver market-leading revenue, employee retention, and increased innovation. This is the third time ExtensisHR has been Great Place To Work® certified. When asked to describe why ExtensisHR is a great workplace, employees frequently used the words “team,” “people,” and “service.”

 

ExtensisHR’s overall scores are noted on its Great Place To Work® profile, with highlights including:

  • 97% of employees said when you join the company, you are made to feel welcome.
  • 94% reported they are proud to tell others they work at ExtensisHR.
  • 93% stated management is competent at running the business.
  • 95% of employees celebrate special events at the company.
  • 93% of people at ExtensisHR are given a lot of responsibility.

 

“Our success as a company is intrinsically linked to the enthusiasm and passion of our employees,” said David Pearson, ExtensisHR’s SVP of People and Culture. “ExtensisHR remains dedicated to upholding the values that have earned us this distinction and will continue investing in our employees, ensuring we maintain our status as an employer of choice and providing a supportive community where everyone can thrive.”

 

ExtensisHR boasts a proud history of garnering acclaim for its company culture, having received numerous honors in the past, including:

 

“Great Place To Work Certification is a highly coveted achievement that requires consistent and intentional dedication to the overall employee experience,” says Sarah Lewis-Kulin, the Vice President of Global Recognition at Great Place To Work. She emphasizes that Certification is the sole official recognition earned by the real-time feedback of employees regarding their company culture. “By successfully earning this recognition, it is evident that ExtensisHR stands out as one of the top companies to work for, providing a great workplace environment for its employees.”

 

A Great Place To Work® Certification™ is a testament to ExtensisHR’s ongoing efforts to create a workplace that promotes collaboration, innovation, and personal and professional growth. The company’s commitment to its employees is reflected through comprehensive benefits packages, career development opportunities, and a corporate culture that values diversity, equity, and inclusion. Interested candidates are invited to explore open job opportunities here.

 

About ExtensisHR

Founded in 1997, ExtensisHR is a leading national Certified Professional Employer Organization (PEO) and HR Outsourcing (HRO) solution provider, focused on delivering exceptional customer service. We specialize in tailored HR solutions for small- and medium-sized businesses, with a comprehensive portfolio including human resources, benefits, payroll, Work Anywhere® technology, risk and compliance, employee management, recruiting, and more. For additional information or to become a broker partner, visit: www.extensishr.com, or follow us on LinkedIn, X (formerly Twitter), Facebook, and YouTube.

 

About Great Place To Work Certification™

Great Place To Work® Certification™ is the most definitive “employer-of-choice” recognition that companies aspire to achieve. It is the only recognition based entirely on what employees report about their workplace experience – specifically, how consistently they experience a high-trust workplace. Great Place To Work Certification is recognized worldwide by employees and employers alike and is the global benchmark for identifying and recognizing outstanding employee experience. Every year, more than 10,000 companies across 60 countries apply to get Great Place To Work-Certified.

 

About Great Place To Work®

As the global authority on workplace culture, Great Place To Work® brings 30 years of groundbreaking research and data to help every place become a great place to work for all. Their proprietary platform and For All™ Model helps companies evaluate the experience of every employee, with exemplary workplaces becoming Great Place To Work Certified™ or receiving recognition on a coveted Best Workplaces™ List. Learn more at greatplacetowork.com and follow Great Place To Work on LinkedIn, Twitter, Facebook and Instagram.

Contacts

Stephanie Clark

sclark@extensishr.com

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Art & Life Culture Lifestyle Perspectives

‘Sacrifices for Kingdom’ addresses controversial themes through fiction as new romance series tackles inequality in religion 

SARASOTA, Fla. — In Sacrifices For Kingdoms, the first book of a spicy trilogy by Patricia D’Arcy Laughlin, when Elizabeth, a sophisticated activist and philanthropist from Trinidad, meets Michael, a European Prince with hidden ambitions, they are irresistibly drawn to each other.

 

Their journey crosses continents and cultures, places and races, as they encounter secrets, societal pressures, and decisions as to which “kingdom” gets sacrificed. Filled with passion and danger, their love story clashes with other loves, complicated lives—and lies.

 

In addition to the passionate core, the novel also centers around a provocative theme of “God Has No Gender,” in which Elizabeth passionately advocates for the need for female equality, especially in leadership, to ensure the survival of humanity and the planet.

 

“Addressing big ideas like religious discrimination, patriarchal systems, and climate change, to me, is part of the role of literature,” Patricia D’Arcy Laughlin says.

 

“Initiating conversations around sensitive subjects can prompt readers to reflect on these topics in their own lives and adds a valuable dimension to reading for entertainment.”

 

Laughlin feels that all lives are multi-genre, and her novel is about people’s lives, so it makes sense that her book spans more than one literary category. She didn’t want to write a cliché Cinderella story but wanted her female protagonist to be educated, sophisticated, financially successful, and also socially conscious and caring of those not as fortunate as she. That last attribute is part of the attraction between Prince Michael and herself because they are of like minds.

 

“The message I want people to take away from the protagonist Elizabeth’s speech,” Laughlin says, “is that we need to research and educate ourselves and others, about religions that worshiped a goddess, and the type of men who violently destroyed her out of greed, which has forced the continuing oppression of females for over 2000 years by patriarchal religions. This has made too many men feel they are entitled to rule the planet, despite their destructive record of using their power to continue conflicts, wars, and the development of weapons that could eventually annihilate everything on this planet.”

 

Patricia D’Arcy Laughlin was born in Trinidad of British and French ancestry. She was educated there, the UK, and the USA. She is a world traveler and an award-winning artist, famous for developing her “Unique Stainings On Wood.” Although she has composed poetry, Sacrifices For Kingdoms is her first novel. She lives in Florida with her husband, and she has three children, five grandchildren, and two great-grandchildren. For more information, please visit https://patriciadarcylaughlin.com.

 

Sacrifices For Kingdoms (Book One of Sacrifices For Kingdoms)

Publisher: DRoyalty Publishing LLC

Released: October 24, 2023

Paperback/979-8-9884718-0-6/$19.95

Ebook/979-8-9884718-1-3/$8.99

Available from Amazon.com, BarnesandNoble.com and other online retailers

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AM Best assigns Credit Ratings to CM Select Insurance Company under new ownership

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance—AM Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) to CM Select Insurance Company (CM Select) (Merrill, WI), which is under new ownership.

 

The outlook assigned to CM Select’s Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn the FSR of A (Excellent) and the Long-Term ICR of “a” (Excellent) of CM Select Insurance Company (Merrill, WI); ratings that were influenced by CM Select’s prior ownership.

 

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

 

AM Best expects CM Select to maintain the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), which supports prospective growth in the company’s underwriting risks. The company’s business plan consists of writing commercial products for small and medium business, including serving the religious and non-profit market, primarily business owner policies in Texas and various states, and expanding into minority and veteran-owned markets over the next five years. CM Select will continue to leverage Church Mutual Insurance Group’s (Church Mutual) agency force while expanding into adjacent markets. While the company adopted its risk framework and underwriting guidelines from Church Mutual, the concentration of property-related business and reinsurance dependence remain core risk factors.

 

CM Select is now owned by MGT Partners LLC, which provides an element of financial support as it contributed capital to support growth initiatives at the time of the acquisition with additional capital available to support future growth. Further, strategic support comes in the form of risk and operational oversight from the board of directors with extensive insurance experience. The ratings and outlooks consider transitional and service agreements between CM Select and Church Mutual, along with a 100% reinsurance agreement on all legacy business, including new and renewal religious and non-profit-related business. The company anticipates placing external reinsurance ahead of writing retained business in 2024.

 

At the time of the withdrawal, CM Select Insurance Company’s prior ratings were under review with negative implications following the announcement that MGT Partners LLC would be acquiring CM Select Insurance Company from Church Mutual earlier in the year. MGT Partners LLC completed the acquisition of CM Select Insurance Company on Oct. 1, 2023, and the closing has resulted in AM Best withdrawing the entity’s ratings. While AM Best’s policy is for a final rating to be completed along with the withdrawal, a final rating was not able to be completed since it is no longer able to be rated under the prior structure.

 

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 © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Quentin Harris
Senior Financial Analyst
+1 908 882 1816
quentin.harris@ambest.com

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

Chris Draghi
Associate Director
+ 1 908 882 1749
chris.draghi@ambest.com

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

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Peter Sarsgaard on ‘Memory’ and playing a man with dementia: ‘Acting is easy when it’s going well’

Awards Circuit Podcast: Also on this episode, ‘May December’ star Natalie Portman and the roundtable shares what they’re thankful for

 

 

Though he plays a man dealing with dementia in the upcoming film “Memory,” Peter Sarsgaard found the experience immensely joyful.

 

“I loved playing him,” the actor reveals on this week’s episode of Variety’s Awards Circuit Podcast.

 

“I told my wife when I was playing him – I mean, it sounds arrogant, but it was true – I said, I’ don’t feel like I can miss. Like anything that comes my way. I don’t think I just am.’”

 

And though his heralded performance has already won the prestigious Volpi Cup Best Actor Award at the Venice Film Festival, Sarsgaard downplays any suffering he did for the role.

 

“Acting is easy when it’s going well,” he notes.

 

“Even Daniel Day-Lewis would tell you that ‘My Left Foot’ was easy because he was clearly on a roll. You show up and you just know instinctively what to do.”

 

 

Written and directed by Michel Franco, “Memory” stars Jessica Chastain as a social worker who reconnects with a former classmate, Saul, played by Sarsgaard, after he follows her home from a high school reunion. She soon learns that Saul suffers from dementia. Despite his condition, the two forge a touching bond in a film that is surprising, heartfelt and even full of humor.

 

We spoke with Sarsgaard, who started by talking about how he first got win he was receiving an award at Venice. Sarsgaard has long been one of our most fearless and admired actors, although he has never received an Academy Award nomination. That might change with his performance in “Memory,” which premiered at this year’s Venice Film Festival, where the actor received the prestigious Volpi Cup for Best Actor.

It was actually Chastain who first suggested Sarsgaard for the role – though he didn’t become aware of that fact until filming had been completed. When he first took a meeting with Franco, Sarsgaard notes he was “in the worst physical shape of my life.” He had herniated a disc the year previous, and had been feeling lethargic. “I had a huge beard and I was just feeling homebound.” As it turned out, this worked to his advantage. “He said, ‘Oh, no, I want you to be heavier. If anything, I want you to really not be a physically fit person.’ Which makes sense for the part, the guy’s been sitting in his house for the last year.”

Sarsgaard adds that Franco wanted to make a movie that looked and felt as real as possible. Says Sarsgaard, “He didn’t want like a ‘beautiful people Hollywood love story movie,’ you know? That’s what we were avoiding.”

 

Sarsgaard had his own personal experience with the condition; growing up, his uncle had dementia. The actor wanted to show that Saul was a man “refusing to be his condition.” He consulted extensively with Dr. Peter J. Whitehouse, the co-author of “American Dementia” – in fact, the two continue to speak even after completing the film. “He’s interested in the way that this movie could positively affect his community, which includes the group Reimagining Dementia – it’s a group in New York that literally tries to help people reimagine what dementia is.”

Sarsgaard reveals, “Dementia is a pretty big box that everyone is put into. And [Dr. Whitehouse] said, ‘It’s so great to think that you might have expanded the box in terms of what we think of as dementia.’ I talked to many people who had dementia was all very different. It has all sorts of different ways of showing.”

 

“Memory” will have a limited theatrical release in the U.S. on December 22, 2023, before a wide release on January 5, 2024.

 

Also on this landmark 200th episode of the award-winning Variety Awards Circuit Podcast, Natalie Portman discusses her performance in the Netflix dark comedy “May December.” She also shares her viewpoint on the state of the industry and the upward tick of women producing their projects.

 

Variety’s “Awards Circuit” podcast, produced by Michael Schneider, is your one-stop listen for lively conversations about the best in film and television. Each week “Awards Circuit” features interviews with top film and TV talent and creatives; discussions and debates about awards races and industry headlines; and much more. Subscribe via Apple Podcasts, Stitcher, Spotify or anywhere you download podcasts. New episodes post weekly.

 

 

— Variety

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AM Best affirms Credit Ratings of Farmers New World Life Insurance Company and Farmers Reinsurance Company

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance—AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” (Excellent) of Farmers New World Life Insurance Company (FNWL) (Bellevue, WA).

 

At the same time, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Farmers Reinsurance Company (Farmers Re) (Woodland Hills, CA). The outlook of these Credit Ratings (ratings) is stable.

The ratings of FNWL reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). The ratings also recognize the continued strategic value that FNWL provides to its ultimate parent, Zurich Insurance Group Ltd.

 

FNWL’s ratings are supported by its risk-adjusted capitalization being maintained at the very strong level, as measured by Best’s Capital Adequacy Ratio (BCAR), a history of positive operating earnings, and material contributions to the overall group from new business value and operating profits. The company’s previously announced reinsurance agreement with Resolution Life Group Holdings Ltd. will allow a strategy shift going forward, enabling it to focus on a simplified product portfolio that is easier to sell and has shorter cycle times.

 

The ratings of Farmers Re reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate ERM. The ratings also reflect the company’s strategic importance to Zurich Insurance Group Ltd.

 

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 © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Thomas Keelan
Financial Analyst
+1 908 882 1925
thomas.keelan@ambest.com

Edin Imsirovic
Director
+1 908 882 1903
edin.imsirovic@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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James May says ‘Top Gear’ needs a ‘rethink’ after BBC puts show on pause — but don’t expect him to ‘come back and rescue it’

After the BBC revealed that “Top Gear” won’t be returning “for the foreseeable future,” former presenter James May has said that the series needs “a bit of a rethink.”

 

In an interview on the BBC’s “Today” podcast, May — who hosted “Top Gear” alongside Jeremy Clarkson and Richard Hammond for over a decade — said that the show must be revamped whenever it does return.

 

“My honest view is — I can say this now — it does need a bit of a rethink,” May told the BBC. “It’s time for a new format and a new approach to the subject because the subject has not been this interesting, I suspect, since the car has been invented.”

On Tuesday, the BBC announced that “Top Gear” had officially been put on pause following a halt in production after presenter Andrew “Freddie” Flintoff was injured in an on-set accident in December. Flintoff had been a presenter on “Top Gear” since 2019, alongside Paddy McGuinness and Chris Harris.

 

“I’ve only met Freddie once or twice but it’s obviously more serious than we all thought,” May said of Flintoff’s accident.

 

In 2015, May and Hammond left the series after Clarkson was fired for punching a producer, and the trio went on to host a new automotive series, “The Grand Tour,” on Amazon Prime Video. However, May had a few words for fans who have been asking him to “come back and rescue” the show following Tuesday’s news.

 

“It did annoy me a bit because there were a lot of people saying, ‘They’ve done that wrong and now you can come back and rescue it,’” May said, adding of Flintoff: “The bloke’s hurt himself very badly in a life-changing way, obviously. And you could perhaps not use it as an opportunity to be partisan. You could perhaps just say, ‘Rotten bit of luck, hope you get well soon.’”

 

May’s full interview on the BBC’s “Today” podcast will be released on Thursday.

 

 

 

— Variety

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Business Culture Economics Lifestyle Perspectives Regulations & Security

AM Best removes from under review with negative implications and affirms credit ratings of Clear Blue Insurance Group members

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance — AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) of the members of Clear Blue Insurance Group (Clear Blue) (Guaynabo, Puerto Rico).

 

The outlook assigned to these Credit Ratings (ratings) is stable. See below for a detailed listing of members and ratings.

The ratings of Clear Blue reflect the group’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

 

Clear Blue’s ratings were placed under review with negative implications on July 25, 2023, as a result of the uncertainty surrounding Clear Blue’s ability to rely on certain letters of credit, posted to back reinsurance placed by Clear Blue with certain reinsurers in Vesttoo-related transactions. Of particular concern was the potential balance sheet implications, in addition to the execution and timing risk associated with replacing capacity or letters of credit.

 

Over the past few months, Clear Blue has successfully moved active programs to either new reinsurers or reinsurers on its existing panels took higher percentages. All of these contracts have been signed and are fully collateralized. All “run-off” programs which remain in place are collateralized by funds held in cash from written premium. However, additional collateral on these programs above the funds held has not been replaced.

 

Clear Blue did take a $33 million temporary reduction in surplus in its second quarter 2023 filings due to the commission strain on unearned premiums. However, the impact decreased to $16.36 million in third quarter 2023 filings and is expected to gradually decline over the next few quarters before disappearing by mid-2024. In addition to the temporary implications, the lack of replacement collateral on the “run-off” programs resulted in a $10.7 million write down of recoverables that resulted in an underwriting loss of the same amount in third quarter 2023. The lack of replacement collateral also exposes Clear Blue to adverse development on these run-off programs.

 

To solidify its balance sheet, Clear Blue was recently infused with $25 million, $15 million of which was funded by a line of credit at the holding company and an additional $10 million funded by an equity infusion from Pine Brook. Given these capital initiatives, Clear Blue’s ability to replace capacity on active programs and the relatively modest financial losses, AM Best continues to assess the company’s balance sheet strength level as very strong.

 

From an ERM perspective, AM Best notes it has become evident through documents associated with Vesttoo’s bankruptcy filing that fraud was at the heart of this episode. In response to this fraud, Clear Blue has implemented more rigorous procedures around securing, documenting and confirming letters of credit. AM Best believes these actions to be appropriate.

 

The performance of the retained run-off programs remains uncertain and could potentially impact Clear Blue financially and operationally. The stable outlook that has been assigned reflects AM Best’s view that the actions taken by Clear Blue should continue to mitigate the potential negative impacts. However, if this view were to change, AM Best may need to take negative rating action.

 

The FSR of A- (Excellent) and the Long-Term ICRs of “a-” (Excellent) have been removed from under review with negative implications with a stable outlook assigned for the following property/casualty subsidiaries of Clear Blue:

  • Clear Blue Insurance Company
  • Clear Blue Specialty Insurance Company
  • Highlander Specialty Insurance Company
  • Rock Ridge Insurance Company

 

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s 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 © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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Senior Financial Analyst
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gordon.mclean@ambest.com

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Art & Life Culture Lifestyle Perspectives

‘Beyond the Aggressives: 25 Years Later’ review: Catching up with the subjects of a queer classic

Several of the lesbians profiled in the 2005 documentary have since transitioned, but all remain as authentic as ever in Daniel Peddle’s powerful and tender sequel.

 

In the early 2000s, director Daniel Peddle turned his gaze to the lives of several young, masculine-presenting lesbians of color living in New York City.

 

He called his documentary “The Aggressives,” in a nod to the label given to, but also embraced by the women featured. The film was groundbreaking then and remains illuminating today.

 

For his sequel, “Beyond the Aggressives: 25 Years Later,” Peddle has gathered four of the subjects who made the 2005 film both insightful and inspiring.

 

The original was filmed between 1997 and 2003. The sequel covers the years 2018-23, with Peddle and editor Yvette Wojciechowski deftly interspersing footage from the original documentary throughout.

 

It’s good to see Kisha Batista, Trevon Haynes, Octavio Sanders and Chin Tsui again. In the original, they were teenagers wrestling with identity amid issues of race, class, sexuality and, it turns out, gender. Beneath their swagger coursed questions about belonging, labels and identity. In “Beyond,” those quandaries have been, if not always resolved, engaged. They’ve evolved. What must it feel like to have been a character in such a time capsule? And then return for more?

In the original doc, nearly all the subjects stated that their masculine presentation should not be confused with wanting to be a man. In the interim — years in which transgender identity has made advances — Trevon, Chin and Octavios have transitioned or identify as male. Much as she was in the original, the artist Kisha Batista, who identified then as “fem-aggressive,” is the outlier. She was also the person who introduced Peddle to her circle of aggressive — or AG — friends.

 

If the sequel is resolutely authentic, it’s because that quartet remains so. Now in their middle years, the subjects face the typical hurdles of adulthood: loss of loved ones, relationship bumps, health care scares. It’s that minuet that makes the film both specific and deeply humane. These journeys haven’t been smooth, but many of the challenges are those of growing older and a little wiser.

 

After a prologue that uses footage from the original, Peddle begins the follow-up documentary with Kisha taking photos of young queer folk. (It’s hard not to refer to the subjects by their first names; the film makes them feel like old friends). The one-time model has been painting and photographing during the intervening decades. One of her projects is documenting LGBT people, some of whom provide the movie interstitial insights about what the earlier doc and its characters meant to them. One refers to them as “trans-cestors.”

The film finds Trevon in Palm Springs, doing the gig economy hustle but also trying to forge domestic bliss with his fiancée, Jade. Having lost his mother when he was 13, Trevon craves family. His concerns about being able to have children with Jade are the sort of concerns that should resonate with other couples dealing with fertility issues. But as he shares his frustrations finding gynecological services, the movie makes clear just how clumsy the healthcare system is in addressing transgender people’s needs.

 

For many years, Octavio opted not to have top surgery because he wanted his son to have a clear sense of him as his mother. Now an adult, son Tyquan Sanders turns out to be a compassionate soul, navigating his own ideas about what it means to be a Black man in a world in which depictions of masculinity have often narrowed his possibilities. He finds no hiccup of contradiction in declaring, “I’m proud of my mom. He’s happy.”

 

Swept into the immigration maelstrom, Chin Tsui spent almost 19 months in solitary confinement in a Georgia ICE detention center. (At a “Free Chin Now” protest, Chin’s sister, Nancy Benabe, speaks out for her brother with loving, furious clarity). His incarceration reflects the immigration system’s failings but also its transphobia. Whether the lawyers who’ve taken his case will be able to get Chin out of detention supplies the documentary with added if galling suspense.

 

“Beyond the Aggressives” is itself an example of evolving standards in documentary. Occasionally Peddle makes an appearance on camera. Several times he can be heard asking a question. Often the interactions with the subjects feel guided by the subjects, rather than the filmmaker. The doc is also indicative of Peddle’s own growth: As a white gay man, he is more mindful of the privilege that whiteness affords him.

 

The sequel provides an ever-maturing understanding of the tension between labels and identities, between a changing self, an expanding queer “community” and the broader society. An essential theme in “Beyond the Aggressives” might be that when it comes to the individual, the labels — “identities” — we all wield, while liberating, are also insufficient to the complexities and poetry of being human.

 

Back when the subjects declared they didn’t want to be men, they weren’t being evasive or in denial. Instead, they were being truthful the way people are at a given moment in time, working with the language of that period and grappling with their own understanding of their selves. They didn’t want to be men; they wanted to be themselves. Michael Apted’s pioneering “Up” series (which caught up with its subjects every seven years after 1964’s original group portrait) made the eloquent case for longitudinal documentaries. So does Peddle’s tender and insightful sequel. “Beyond the Aggressives” makes it easy to wonder what joys, sorrows and epiphanies a future follow-up could bring.

 

 

 

— Variety