Category: Travel & Leisure

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AM Best downgrades Issuer Credit Rating of The Order of United Commercial Travelers of America

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance—AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bb” (Fair) from “bb+” (Fair) and affirmed the Financial Strength Rating of B (Fair) of The Order of United Commercial Travelers of America (UCT) (Columbus, OH). The outlook of these Credit Ratings (ratings) is stable.

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

 

The ratings also reflect UCT’s declining level of risk-adjusted capitalization in support of its insurance and investment risks (despite a conservative investment portfolio and the extensive use of reinsurance), a decline in direct premiums written, and negatively trending net income. The company also maintains an overall small absolute level of capital, which together with its limited financial flexibility and lack of diversification has the potential to magnify the impact of unfavorable operating trends on risk-adjusted capitalization.

 

UCT’s operating performance has been weak during the past couple of years due to headwinds from the COVID-19 pandemic and higher-than-expected claims. The company maintains modest market positions in a highly competitive accident and health segment in which many of its competitors enjoy significant scale advantages, which limits UCT’s business profile.

 

However, AM Best notes that UCT implemented an Insurance Oversight Board in April 2019 to help manage its strategic planning, mitigate risks and provide insurance industry expertise. AM Best will continue to monitor UCT’s capital level and operating performance over the near term as the oversight board works with the company. AM Best also notes that UCT has been refocusing its dental, vision and hearing line of business as its primary product line to have it represent a smaller proportion of its written premiums, and provide better diversification between the products in its portfolio While the company has made strategic business shifts in products and distribution, the full impact has yet to be realized.

 

The stable Long-Term ICR outlook reflects AM Best’s expectation that the company will maintain an overall balance sheet assessment in the adequate range over the intermediate term and continue to focus on improving its weak operating performance.

 

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

 

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

 

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

Contacts

Stratos Laskarides
Senior Financial Analyst
+1 908 439 2200, ext. 5613
Stratos.laskarides@ambest.com

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

Edward Kohlberg
Director
+1 908 439 2200, ext. 5664
edward.kohlberg@ambest.com

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

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Lifestyle Local News Travel & Leisure

Frontier at Trenton-Mercer marks 10 years of commercial service to Trenton region

Airline signals commitment to Mercer region

Trenton-Mercer Airport celebrated its 10-year partnership with ultra-low fare carrier Frontier Airlines at a spirited celebration at the terminal’s Sky Lounge at Ewing Restaurant, Thursday.

 

It was a joyous occasion featuring remarks by Mercer County Executive Brian M. Hughes, Frontier Vice President Daniel Shurz, Congresswoman Bonnie Watson Coleman, Ewing Mayor Bert Steinmann, Mercer Commissioner Board Chair Nina Melker, and Princeton Mercer Chamber President Hal English, all who touted the economic importance of Trenton-Mercer Airport and endorsed the county’s proposal to build a new terminal to replace the functionally obsolete one.

 

Frontier, which is the only commercial airline offering scheduled service from Trenton, will carry its 6-millionth passenger from the airport later this month.

 

“We are thrilled to continue our partnership with Trenton-Mercer Airport and celebrate 10 years of operations together,” said Shurz. “In cooperation with the outstanding leadership at Mercer County and Trenton-Mercer Airport, we have established a highly successful commercial airline operation and look forward to continued growth together. We currently operate service to eight destinations from TTN and will continue to deliver ‘Low Fares Done Right’ to area residents.”

 

 

“This milestone is exciting for Mercer County and Trenton-Mercer Airport,” said County Executive Hughes. “Over the past decade, millions of passengers have discovered Trenton-Mercer Airport and have embraced us as a better alternative. We are proud of that designation and we look forward to Frontier Airlines’ continued success.”

Also highlighted at the event was the reveal of the airport’s new brand. Created by Oxford Communications, the new logo is among the ways the airport says “welcome back” to loyal airport users and invites new customers to try the airport, said Aaron T. Watson, Deputy Administrator who oversee Trenton-Mercer. Looking ahead, the airport will soon unveil a new user-friendly website.

 

Joining the speakers were Commissioner Lucylle Walter, Assemblywoman Verlina Reynolds-Jackson, Assemblyman Anthony Verrelli, County Clerk Paula Sollami Covello, Hopewell Borough Mayor Paul Anzano, members of the trades, local businesses, members of the Cheer Squad from The College of New Jersey, Trenton Thunder Mascot Boomer, Frontier Mascot Powder the Polar Bear, airport supporters, passengers and more.

 

Frontier currently offers service from Trenton to Orlando, Atlanta, Tampa, Ft. Lauderdale, West Palm Beach, Charlotte, Raleigh-Durham and Fort Myers (the latter four routes operate on a seasonal basis).

 

In conjunction with this special milestone, Frontier is offering fares from TTN starting at $39 per person. *For additional information, click here.

Categories
Business Special/Sponsored Content Travel & Leisure

Skechers Pier to Pier Friendship Walk breaks new records with more than $3 million raised for kids

Presented by Kinecta Federal Credit Union, the Annual Event Has Raised Over $21 Million to Date for Children with Varying Abilities and Education

 

LOS ANGELES — (BUSINESS WIRE) — The Skechers Pier to Pier Friendship Walk announced that its 14th annual event raised more than $3 million this year for children with varying abilities, schools and scholarships—a new record that has helped the Walk surpass $21 million in funds raised to date. With more than 19,000 participants, the event was supported by Presenting Sponsor Kinecta Federal Credit Union and over 100 other generous businesses and partners, along with appearances by Dani Bowman, Brooke Burke, Amanda Kloots and Sugar Ray Leonard, plus live performances by talents including Young Selena singer and America’s Got Talent golden buzzer winner Madison Taylor Baez.


“It’s incredible that our event has grown from raising $220,000 at our first Walk to passing the $21 million mark this year,” said Michael Greenberg, co-founder of the Skechers Pier to Pier Friendship Walk. “These funds have and will continue to impact and transform the lives of children of all ages and abilities, both in their classroom and at the upcoming Friendship Campus, which will educate and inspire neurodivergent youth, offer them vocational and life-skills training and encourage them to become active participants in their community. I am so deeply grateful for Kinecta, our generous sponsors, celebrities, volunteers and all of our beach and virtual walkers. Thanks to their years of support, we’re enriching our children academically, physically and emotionally more than we ever have—and we’re giving them the tools to succeed that will stay with them their entire lives.”

 

“This Walk means so much to me,” added Love on the Spectrum star and Danimation entrepreneur Dani Bowman, who has autism. “Thanks to the support of my family and community, I’ve been able to pursue so many opportunities like my show, starting my animation business, teaching students—I know that the sky’s the limit. So many kids with different abilities can do this and more when given love, support and confidence—and this event, the Friendship Foundation and Friendship Campus all celebrate our beautiful community and the amazing things that can happen when we’re supported. Not just for us personally, but what we can also give back to the world around us.”

 

Historically California’s largest event for children with varying abilities and education, the 3.5-mile Skechers Pier to Pier Friendship Walk supports The Friendship Foundation’s future Friendship Campus (The Greenberg Family / Skechers Center) and the Friendship Foundation which offers children with varying abilities a wide range of activities, including one-on-one peer visits and social recreational activities, online gatherings, summer camps, sporting event outings and classes such as music, yoga, cooking, art and drama.

 

In addition, the Walk contributes to public school education foundations—helping to reduce class sizes; provide counseling and support; maintain classes in the arts, STEM, reading and physical education; and update labs, libraries and facilities. The Skechers Foundation’s National Scholarship program will also donate a portion of the proceeds to students with financial need and proven excellence in academics, athletics and leadership, and has donated nearly $1 million in scholarships to date.

 

The Skechers Pier to Pier Friendship Walk thanks its Presenting Sponsor Kinecta Federal Credit Union and all of its generous sponsors, including Nickelodeon, Los Angeles Chargers, Dakine, Los Angeles Kings, Bank of America, Big 5 Sporting Goods, Rare Beauty, Los Angeles Angels, Vertra, WSS, Steel Sports, Academy Sports & Outdoors, United Legwear & Apparel, CET Foundation, Chevron, Ross Stores, Continental Development, McCarthy Building Companies, Petco Love, Turkish Airlines, MBS Group, Moose Toys and many more companies who are committed to making a difference in the lives of our children.

 

To watch this year’s Skechers Pier to Pier Friendship Walk and learn more about the event, please visit skechersfriendshipwalk.com or YouTube, and follow the Walk on Facebook, Instagram, and Twitter.

 

About Skechers Foundation

Established in 2010 to help children in need, the Skechers Foundation is dedicated to strengthening communities to ensure the health, success and well-being of youth worldwide. We invest in a global network of charitable organizations dedicated to embracing individuals with diverse abilities, improving education, empowering disadvantaged families and providing humanitarian, disaster and economic relief. By supporting millions through our products and services, we aspire to make a valiant effort in creating stronger, self-sufficient individuals for future generations.

 

About Skechers USA, Inc.

Skechers USA, Inc. (NYSE:SKX), The Comfort Technology Company™ based in Southern California, designs, develops and markets a diverse range of lifestyle and performance footwear, apparel and accessories for men, women and children. The Company’s collections are available in over 180 countries and territories through department and specialty stores, and direct to consumers through digital stores and 4,458 Company- and third-party-owned physical retail stores. The Company manages its international business through a network of wholly-owned subsidiaries, joint venture partners, and distributors. For more information, please visit about.skechers.com and follow us on Facebook, Instagram, Twitter, and TikTok.

 

About Kinecta Federal Credit Union

Headquartered in Manhattan Beach, California Kinecta Federal Credit Union is the country’s 35th largest credit union, with assets of $6.6 billion and more than 270,000 members from coast to coast. Banking the Southern California area for more than 80 years, with additional branches in New York, New Jersey, Northern California and Florida, Kinecta offers its members a full range of financial products from banking, lending and insurance to wealth management services. Kinecta has been recognized by the Mortgage Bankers Association as a recipient of its Diversity, Equity and Inclusion (DEI) Residential Leadership Award, and received the Best of Show award granted by the Credit Union National Association (CUNA) Technology Council. Forbes awarded Kinecta as a top-ranked credit union in California on its America’s Best Credit Unions in Each State 2022 List. Kinecta has 32 locations and its members can use a network of more than 5,800 shared branches and access over 85,000 fee-free ATMs nationwide. For more information on Kinecta, visit the website and LinkedIn.

 

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

Contacts

Media Contact:
Jennifer Clay

SKECHERS USA

jennc@skechers.com
(310) 937-1326

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Art & Life Culture Lifestyle Travel & Leisure

International artists exhibit at the Watchung Arts Center

The NJ Photography Forum opens its 28th Annual Photography Exhibit, Our Best, online and in person on Nov. 1, 2022. Seventy-five works by 44 artists were chosen for this year’s show from hundreds of entries which came from across the U.S and around the globe.

 

The show will remain available online until Jan. 15, 2023. The in-person exhibit will be on display at the Watchung Arts Center in Watchung, NJ from Nov. 2, through Dec. 10, 2022.

 

The link to access the exhibit:  New Jersey Photography Forum | 2022 International Photography Exhibit/Watchung Art Center/Nov. 1 – Nov. 20, 2022 (njphotoforum.com)

 

Nancy Ori, director of the Photography Forum and the curator of the exhibit was very enthusiastic about the response to the call for submissions and says, “the emotional impact of the pieces range from mysterious and thought provoking, to stunning black and whites and digitally enhanced pieces, to traditional and beautiful color works. The variety of creative ideas and processing techniques has produced an interesting show with many more pieces which we can accommodate because of the format of the show.”

The public is invited to attend an online conference via Zoom moderated by the curator to review the exhibit and hear from some of the artists on Nov. 12, 2022 from 3-5 p.m. eastern time. Contact Nancy Ori to get the link.

 

At the same time as the Our Best exhibit is in the Main Gallery of the Watchung Art Center, the New Jersey Photography Forum will also be showing The Best One, works by the members of the Forum’s Exhibit Committee in the more intimate downstairs gallery.

Both exhibits can be viewed during regular gallery hours. Visit the Watchung Arts Center website at: www.watchungarts.orgfor visitation requirements and times. Entrance is free at: 18 Stirling Rd. in Watchung, N.J. on the circle.

 

All the images will be for sale with a portion of the proceeds going to support the Watchung Arts Center.

 

         Three years ago, The New Jersey Photography Forum celebrated the 25th anniversary of its founding. The group is dedicated to furthering the interests of professional and serious photographers living or working in the Metro area. Under the direction of Nancy Ori, the NJPF has grown to be the largest and most recognized group of fine art exhibiting photographers in the state.

 The monthly meetings are currently held virtually using Zoom and will return to their regular in-person sessions at the Visual Arts Center of New Jersey in Summit, when possible. Meeting attendees are encouraged to share expertise and advance their skills. At each meeting, member and guest photographers have an opportunity to share their work as well as have access to a wide variety of current creative and technical information through informal presentations and demonstrations. Exhibition possibilities within the fine art community are constantly being explored with the group producing as many as a dozen group exhibits each year at various venues. These opportunities have become an invaluable resource for Metro area photographers interested in becoming fine art exhibitors.

 

         The Watchung Arts Center offers new art exhibitions each month, performances of music, comedy, improv and classes for children and adults in art, photography, dance, yoga, and more. Visit their website at www.watchungarts.org.

 

         You can learn more about the New Jersey Photography Forum by visiting their web site at www.njphotoforum.com or by contacting Nancy Ori at nancyori@comcast.net

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Business Culture Lifestyle Travel & Leisure

New Jersey Transit Innovation Team named winner in Second Annual IDC Best in Future of Digital Innovation Awards

NEEDHAM, Mass. — (BUSINESS WIRE) — #DigitalInnovation–International Data Corporation (IDC) today announced winners of the second annual IDC Future Enterprise Best in Future of Digital Innovation North America Awards. Winning projects successfully showcased the ability to source, augment, develop, and/or distribute software IP (intellectual property) to deliver differentiation, disrupt the market through external products or services, or have a significant positive impact on internal operations. Winners will be recognized during a live, virtual event on November 2nd at 2 pm U.S. Eastern Time. To register, please visit HERE.

 

  • Check out our Future of Digital Innovation eBook HERE.

The Best in Future of Digital Innovation North America Award winners for 2022 include:

 

 

Overall Winner

New Jersey Transit – Innovation Train: NJ TRANSIT’s Innovation Train project is a multi-phase initiative spanning R&D, implementation, and specification development that overhauls outdated technologies used in the transit industry to connect all NJ Transit Assets (vehicles, stations, track) to provide situational awareness, command, control, financial, and communications operations. No current single product can fulfill NJT’s goals. As a result, NJT “invented” the future — a “single stack” configuration of hardware, software, and standard operating procedures. The team-built technology delivers: a private mesh network that integrates NJT assets; 10G/s backbone providing internet access to the mesh; edge computing for video upload and analytics; onboard and station Wi-Fi; automated passenger analytics; UWB-based wayfinding; and IoT-based elevator/escalator monitoring. To accomplish this goal, NJ Transit built a laboratory at NJT headquarters and deployed the technologies for integration and testing. After confirming the technology, the Innovation Team installed the configured objects in four train stations and two trains. As a result, the time to offload video from vehicles dropped from 48 hours to 10 minutes – a reduction of 99.65%, which increased video storage length by 333%, allowing NJT to reduce false insurance claims by up to $4-5 million annually.

 

Edge Innovation Category Winner

PCL Constructors Inc. – Job Site Access: Job Site Access (JSA) is a cloud-based access control tracking platform designed and built in 2021 by PCL’s Business Technology department specifically to support the tracking, management, and control of workforce access on job sites promoting site security, safety, and efficient operations management. JSA is designed to scale to meet the demands of varying project sizes and configurations and provides flexible options based on specific construction, regional, security, or operational requirements. Projects can choose the type of monitoring access method from cost effective QR printed badges to innovative facial recognition biometric authentication methods as well as various hardware integration options from industrial grade turnstile gate structures, guard operated checkpoints, or self-service reader stations. The JSA solution enables field operations teams to be connected through remote mobile functions with the JSA Site Mobile app for iOS or Android devices. From simple worker tracking to complex authorization and security, Job Site Access is the security solution for smart connected construction sites providing a safer work environment by restricting unauthorized access, reducing opportunities for job site theft, and tracking time on site as a source to verify payroll or labor costs.

 

Innovation in Information Management Winner

National Fire Protection Association – NFPA LiNK: Developed by the National Fire Protection Association (NFPA), NFPA LiNK is an application-based platform containing real-time code information and situational content. Subscribers can add personalized notes in addition to bookmarking and sharing specific sections of code. With the flexibility to be used online or offline via mobile, tablet, laptop, or desktop devices, NFPA LiNK provides quicker access to crucial content while transforming the way information is delivered and used in the codes and standards industry. People around the world have turned to NFPA codes and standards to do their jobs efficiently and effectively for more than a century, but in recent years NFPA has seen a shift in the ways that people learn and do their jobs. Today’s workers do not find a physical book or a static digital version of a book to be the best means to help solve problems on a real-time basis. Instead, they want to connect the dots on safety and glean real-world, real-time understanding. With 54% of NFPA LiNK subscribers being first time NFPA customers, the platform has successfully reached a broad range of customers. Not only does NFPA LiNK support individuals, but the application also supports the differing needs of small businesses and large organizations.

 

“Winners in our annual Best in Future of Digital Innovation Awards represent those modern organizations that have successfully transformed from digital technology consumers to large-scale digital innovators,” said Nancy Gohring, research director, Future of Digital Innovation at IDC. “We are thrilled to shine a spotlight on the organizations operating as digital innovation factories, building differentiating products and services to create greater value for customers and the business.”

 

For more information on the IDC Future Enterprise Awards Program, please contact Heather Ball at hball@idc.com.

 

About IDC’s Future of Digital Innovation Research Practice

Leveraging a framework that illustrates the interdependencies among three core components of digital innovation – defined business outcomes, an innovation foundation, and a flywheel of innovation, IDC’s Future of Digital Innovation research practice helps organizations generate the sustainable momentum necessary for the continued development of innovative digital products and services.

To learn more about IDC’s Future of X research practices, please visit https://www.idc.com/FoX

 

About IDC

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC’s analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world’s leading tech media, data, and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights.

Contacts

Sarah Murray

Attune Communications

781-378-2674

sarah@attunecommunications.com

Mary Conroy

IDC

508-935-6964

mconroy@idc.com

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Business Lifestyle Travel & Leisure

Cenntro announces key changes to the Board of Directors

FREEHOLD, N.J. — (BUSINESS WIRE) — Cenntro Electric Group Limited (NASDAQ: CENN) (“Cenntro” or “the Company”), a leading EV technology company with advanced, market-validated electric commercial vehicles, today announced the appointment of Dr. Yi Zeng to the Board of Directors, and the resignation of Justin Davis Rice from the Board of Directors of the Company.

Dr. Yi Zeng has served in several leadership positions and brings over 30 years of industry, research and education experience to Cenntro. He previously served as a Non-Executive Director of Range Resources Pty. Ltd (listed both in London and Australia stock exchanges), Managing Director of Lomon (Australia) Pty Ltd, Asia Pacific Regional Marketing Manager of Titaniu, and Principal Scientist at BHP Exploration & Mining Technology, Melbourne, Australia. Dr. Zeng received a PhD in Applied Geophysics at Victoria University of Wellington, New Zealand which was the capstone of a prestigious academic study in geophysics, a Postgraduate diploma at Geothermal Institute of Auckland University, New Zealand, and a MSc in Applied Geophysical Exploration from Chengdu College of Geology, China.

 

“Mr. Davis Rice played an instrumental role on our Board of Directors whilst serving as Chairman and Board member of Naked Brand Group, and we appreciate his continued service with Cenntro after last year’s successful stock purchase transaction,” said Peter Wang, CEO of Cenntro Electric Group. “His service will be greatly missed and I am deeply grateful for his significant contributions.”

 

“We are now privileged to welcome Dr. Zeng to the Board of Directors, an accomplished leader with deep management and technical expertise having held various technical and research positions with global companies. We believe his broad experience will be instrumental as we continue to focus on expanding our range of electric commercial vehicles enterprise and footprint in key North American, European, and Asian markets.”

 

Dr. Yi Zeng has been appointed to serve a term until the Company’s 2023 Annual Meeting.

 

About Cenntro Electric Group Ltd.

Cenntro Electric Group Ltd. (or “Cenntro”) (NASDAQ: CENN) is a leading designer and manufacturer of light and medium-duty electric commercial vehicles (“ECVs”). Cenntro’s purpose-built ECVs are designed to serve a variety of organizations in support of city services, last-mile delivery and other commercial applications. Cenntro plans to lead the transformation in the automotive industry through scalable, decentralized production, and smart driving solutions empowered by the Cenntro iChassis. As of December 31, 2021, Cenntro has sold or put into service more than 3,700 vehicles in over 25 countries across North America, Europe and Asia. For more information, please visit Cenntro’s website at: www.cenntroauto.com.

 

Forward-Looking Statements

This communication contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. Such statements may be, but need not be, identified by words such as “may,” “believe,” “anticipate,” “could,” “should,” “intend,” “plan,” “will,” “aim(s),” “can,” “would,” “expect(s),” “estimate(s),” “project(s),” “forecast(s)”, “positioned,” “approximately,” “potential,” “goal,” “strategy,” “outlook” and similar expressions. Examples of forward-looking statements include, among other things, statements regarding assembly and distribution capabilities, decentralized production, and fully digitalized autonomous driving solutions. All such forward-looking statements are based on management’s current beliefs, expectations and assumptions, and are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed or implied in this communication. For additional risks and uncertainties that could impact Cenntro’s forward-looking statements, please see disclosures contained in Cenntro’s public filings with the SEC, including the “Risk Factors” in Cenntro’s Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 25, 2022 and which may be viewed at www.sec.gov.

Contacts

Investor Relations Contact:


Chris Tyson

MZ North America

CENN@mzgroup.us
949-491-8235

Company Contact:


PR@cenntroauto.com
IR@cenntroauto.com

Categories
Business Lifestyle Science Travel & Leisure

Switching on the rEvolution: New report from Castrol and bp pulse explores global readiness for transition to electric vehicles

WAYNE, N.J. — (BUSINESS WIRE) — Castrol and bp pulse’s new study: Switching ON the rEVolution: The road to EV readiness for markets, carmakers and consumers explores opinions from automotive executives and consumers regarding the switch from internal combustion engine (ICE) vehicles to electric vehicles (EV).

The research, which surveyed 100 automotive executives and 10,000 consumers globally, shares key findings from automotive executives.

 

  • 97% of the executives surveyed are confident that their organization will hit targeted dates for phasing out ICE vehicles.
  • Almost two-thirds (66%) of global automotive executives stated that the transition is the number one strategic priority for their organization.
  • Among global consumers in the report who have already made the switch to EVs, 99% would consider an EV for their next vehicle purchase.

#Automotive executives working for EV-only carmakers are excluded from these figures

 

Nicola Buck, SVP Marketing bp and CMO Castrol said:

“It’s an exciting time for the automotive industry and we are committed to working with our industry partners to help bring forward the next generation of technologies and help accelerate the transition to EVs. The world of transport is going electric and products such as Castrol ON EV Fluids and bp pulse charging solutions will have an important role to play.”

 

Switching ON the rEVolution

Castrol is committed to working with industry partners to accelerate the transition, helping to switch on an electric future. Castrol ON EV Fluids aim to bring the industry closer to overcoming the challenges faced by helping EVs go further1, charge faster2 and last longer3*. bp pulse is committed to helping make the switch to EV easier by building a public charging network and reliable charging products and services, that is fast, simple to use and totally seamless.

 

For more information and to read the full study please visit: castrol.com/EVreport

 

*Castrol EV Fluids benefits are demonstrated in bespoke testing and development. 1vs mass market EV factory fill fluid 2vs indirect cooled battery system 3vs standard EV-transmission fluid

 

*****

Notes to editor:

Switching ON the rEVolution: The road to EV readiness for markets, carmakers and consumers, is a global opinion research study amongst 10,000 consumers and 100 leaders from car manufacturers (C-Suite level executives), exploring levels of readiness for the switch from internal combustion engine (ICE) vehicles to electric vehicles (EVs). It was conducted from November to December 2021 in 10 key markets: ANZ (Australia and New Zealand), China, France, Germany, India, Japan, Nordics (Sweden, Norway, Finland and Denmark), Turkey, UK and the US.

 

To download the full study visit: www.castrol.com/EVreport

 

About Castrol:

Castrol, one of the world’s leading lubricant brands, has a proud heritage of innovation and fueling the dreams of pioneers. Our passion for performance, combined with a philosophy of working in partnership, has enabled Castrol to develop lubricants and greases that have been at the heart of numerous technological feats on land, air, sea and space for over 100 years.

 

Today, Castrol is helping drive sustainability with our new strategy that sets out aims for 2030 to save waste, reduce carbon and improve lives. Castrol is part of the BP group and serves customers and consumers in the automotive, marine, industrial and energy sectors. Our branded products are recognized globally for innovation and high performance through our commitment to premium quality and cutting-edge technology.

 

To find out more about Castrol please visit www.castrol.com or contact uspress@bp.com.

 

About bp pulse:

Electrification is at the heart of bp’s convenience and mobility strategy, and the company aims to grow its network of public EV charging points by 2030 to over 100,000 worldwide. We currently have around 13,000 charging points globally across key markets in China, Netherlands, Germany, UK, USA and India. We already have a number of scaling businesses and operating partnerships in the charging domain. These include bp pulse UK, Aral pulse in Germany, Xiaoju in China and Jio-bp pulse in India. In 2021, bp pulse acquired AMPLY Power an electric vehicle (EV) charging and energy management provider for fleets that operate trucks, transit and school buses, vans and light-duty vehicles in the US.

Contacts

uspress@bp.com

Categories
Local Events Travel & Leisure

All-new Hot Wheels Monster Trucks Live™ Glow Party lights up Trenton for four thrilling shows Feb. 10-12

Worldwide Tour Rolls into CURE Insurance Arena with a Thrilling Hot Wheels® Monster Trucks Glow Party Experience for the Whole Family!

Tickets On-Sale Friday, Sept. 9, 2022

Hot Wheels Monster Trucks Live Glow Party is coming to Trenton for the first time ever! Fans of all ages will experience the thrill of watching their favorite Hot Wheels Monster Trucks in the DARK! This one-of-a-kind show will visit the CURE Insurance Arena for four epic performances!

Tickets and event information are available at www.hotwheelsmonstertruckslive.com or at cureinsurancearena.com. Tickets are subject to convenience and facility fees.

Show times are as follows:

  • Friday, February 10, 7:30 p.m. / Crash Zone, 5 p.m.
  • Saturday, February 11, 12:30 p.m. / Crash Zone, 10 a.m.
  • Saturday, February 11, 7:30 p.m. / Crash Zone, 5 p.m
  • Sunday, February 12, 2:30 p.m. / Crash Zone, 12 p.m.

The popular family entertainment tour brings audiences the only opportunity to watch their favorite Hot Wheels Monster Trucks – Mega Wrex™, Tiger Shark™, Boneshaker™, Bigfoot® and more, plus the all-new Gunkster™ – LIGHT UP the floor in outrageous monster trucks competitions and battles.

Event performances will also feature a dazzling dance party, spectacular laser light shows and Hot Wheels toy giveaways. Plus, a special appearance from the car-eating, fire-breathing transforming robot MEGASAURUS, and the electrifying high-flyers of Hot Wheels Monster Trucks Live, Freestyle Motocross! Special kids pricing is available for all shows providing a BIG value for the whole family!

The exciting Crash Zone Pre-Show Party will be held 2.5 hours before every performance. The unique experience provides fans access to the competition floor to see the outrageous designs and epic size of the Hot Wheels Monster Trucks! Each pass includes an autograph card plus a souvenir pass and lanyard exclusive to Crash Zone attendees! Passes will be available to purchase while supplies last.

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Business Lifestyle Travel & Leisure

AM Best assigns Performance Assessment to Delta International Limited’s affiliates

OLDWICK, N.J. — (BUSINESS WIRE) — AM Best has assigned a Performance Assessment of PA-2 (Excellent) to Delta Insurance New Zealand Limited (New Zealand), Delta Underwriting Private Limited (Singapore), and Delta Property Insurance Limited (New Zealand). The companies are assessed on a consolidated basis under their parent, Delta International Limited (Delta). The outlook assigned to the Performance Assessment (assessment) is stable.

This assessment reflects Delta’s strong underwriting capabilities, excellent governance and internal controls, strong financial condition, excellent organizational talent, and strong depth and breadth of relationships.

 

In AM Best’s view, these three affiliated companies exhibit a number of commonalities with one another and are regarded as strategically and financially important to Delta, providing access to business in certain geographic jurisdictions in the Asia Pacific region. The organization was founded in 2014 with local ownership and operates from offices in New Zealand, Australia and Singapore.

 

Since launching in 2014, Delta has recorded profitable underwriting results across a variety of liability lines in the Asia Pacific region, along with property coverage only in New Zealand. Underwriting capabilities are strengthened further from Delta’s in-house underwriting staff and claims handling. Delta has a well-developed technology base that provides insurance services that has allowed the organization to advance its gross premium writings annually and expand coverage options.

 

AM Best considers Delta’s governance and internal controls to be excellent. Delta has implemented a sophisticated framework for selection for capacity providers, which elevates the products and coverage it can provide to its policyholders. The ability to provide these products is complemented by Delta’s extensive use of internal audits, policies, procedures, quality reviews, and monitoring.

 

AM Best assess Delta’s financial condition as strong. Delta has shown a record of profitable operations since inception, with stable income sources and continued positive net worth. Earnings are allocated generally to reinvestment into operations. Results indicate replicability during periods of scaling premium, policyholder counts or geographic expansion. The organization does not retain any insurance risk.

 

Delta’s senior management is highly experienced across the lines of business and geographic region in which the group operates. The knowledge and training base within Delta further benefits underwriting capabilities. AM Best would expect the quality and quantity of Delta’s staff to develop and increase appropriately as the organization continues to grow.

 

AM Best assesses Delta’s depth and breadth of relationships as strong. While Delta has a relatively compact history, most capacity providers have partnered with the organization since its founding. Multiple programs across a wide-ranging footprint provide appropriate diversification. The longer-term ability of Delta to retain and sustain relationships has opportunity for advancement and development.

 

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

 

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

 

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

Contacts

Riley Parnham

Financial Analyst
+1 908 439 2200, ext. 5495
riley.parnham@ambest.com

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

Robert Raber
Director
+1 908 439 2200, ext. 5696
robert.raber@ambest.com

Jeff Mango
Managing Director,
Strategy & Communications

+1 908 439 2200, ext. 5204
jeffrey.mango@ambest.com

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Lifestyle Local News Travel & Leisure

County clerk advises summer travelers to apply for passport now

TRENTON, N.J. — Mercer County Clerk Paula Sollami Covello reminds Mercer County residents planning summer travel to apply for their U.S. passport now.

 

Every year, a large number of Mercer County residents embark on summer trips to areas that require valid U.S. passports. Residents should check to make sure their passports are valid and not expired.

If you need to apply for a new passport, please start early. Routine applications for U.S. passports are now being processed from eight to 11 weeks, and expedited passports from five to seven weeks. The early-summer season is a good time to apply since the U.S. State Department historically receives a large number of applications as the summer travel season nears.

 

To apply for a U.S. passport, residents will need:

1) A state-certified birth certificate, a U.S. naturalization certificate, or a previous U.S. passport as proof of U.S. citizenship; and

 

2) Proof of identity in the form of a current driver’s license or state-issued identification card. A U.S. Passport is valid for 10 years for adults and five years for minors. The cost of a passport is $130 for adults and $100 for minors, plus a processing fee of $35. The federal government requires a separate check for each passport application. Passport photos will be taken on site for $15 or $10 for senior citizens and minors. The Clerk’s Office will accept checks or money orders for payment.  

 

Federal passport guidelines for children require both parents to appear in person –or one parent in person with required documentation — when applying for a passport for a child under 16.

 

The Mercer County Clerk’s Office processes U.S. passport and U.S. passport card applications Monday through Friday during business hours from 8 a.m. to 4:30 p.m. and Wednesdays until 6:45 p.m. at the County Clerk’s Office, 209 South Broad St. in Trenton.  Appointments are also offered at the Mercer County Connection, located at 957 NJ-33, Hamilton. Appointments are available Monday, Wednesday, Friday, 10 a.m. to 5 p.m.; Tuesday and Thursday, 10 a.m. to 7 p.m.; and Saturday, 10 a.m. to 2 p.m.Passport services end one hour before closing.

 

To schedule an appointment at the Mercer County Connection, please call (609) 890-9800. For more information regarding passports, please visit the Mercer County Clerk’s website at https://www.mercercounty.org/government/county-clerk-/office-services/passports or call 609-989-6473; for Spanish, 609-989-6131.