Tag: #Risk

Categories
Technology

NICE Actimize introduces breakthrough AI-powered Watch List screening solution for superior risk management

The advanced watch list filtering solution features real-time screening for parties and payments that leverage AI and biometrics to match and screen for global sanctions

HOBOKEN, N.J. — (BUSINESS WIRE) — Financial services organizations are increasingly challenged to efficiently screen parties and payments against required sanctions lists. With these requirements in mind, NICE Actimize, a NICE (Nasdaq: NICE) business, announces the launch of WL-X, its breakthrough, next-generation Watch List (WL) screening solution leveraging the power of artificial intelligence for superior data management, advanced screening capabilities and frictionless customer onboarding.

NICE Actimize’s WL-X features real-time and on-demand screening for parties and payments that leverages AI and biometrics to match and screen against global sanctions, politically-exposed persons (PEPs), adverse media and other lists. The solution also orchestrates and aggregates list data from premium and public sources with internal lists providing full auditability to ensure accurate screening.

Serving as the foundation for data-driven, advanced screening processes, NICE Actimize’s WL-X solution expedites customer onboarding while reducing friction​.The advanced solution also offers best-in-class detection featuring advanced facial biometrics, intelligent payment parsing in compliance with ISO20022, and the industry’s most advanced culture/name matching technology.

“Sanctions screening is a critical function across AML operations, but it still relies on traditional technology and workflows,” said Neil Katkov, PhD, Head of Risk, at research and advisory firm Celent. “It makes sense to apply the next-generation technologies that are already transforming investigation and other areas of AML to these legacy-burdened processes.”

“NICE Actimize’s innovative screening technology supports financial services organizations looking to boost accuracy and efficiency while complying with global regulations,” said Craig Costigan, CEO, NICE Actimize. “A cost-effective anti-money laundering compliance program includes advanced screening capabilities to reduce regulatory risk, generate high quality matches with lower false positives while speeding operational efficiency. And with NICE Actimize WL-X technology, organizations get all of these benefits.”

Additional features of the next generation NICE Actimize WL-X solution include:

  • Real-time and batch screening capabilities which adhere to regulatory obligations for new and current customers, their counterparties and payments.​
  • Seamless access to aggregated, normalized and verified data from multiple lists sourced from a comprehensive selection of premium and public data sources.​
  • The use of advanced fuzzy matching technologies plus facial biometrics for precise matching capabilities.
  • Machine-learning driven model optimization to adapt and ensure low false positives.
  • Full controls across the AML value chain from onboarding to ongoing monitoring and any ad-hoc checks ​along the way.

NICE Actimize Autonomous Anti-Money Laundering Suite

NICE Actimize’s Autonomous AML modernizes AML programs through a unique combination of AI, machine learning, domain expertise, Intelligent Automation and visual storytelling to better combat money-laundering and terrorist financing. It keeps programs up-to-date with regulatory compliance while creating a single integrated view of the customer. In addition to the new WLF-X solution, the suite includes solutions for Suspicious Activity Monitoring, Customer Due Diligence/KYC, Suspicious Transaction Activity Reporting (STAR), Currency Transaction Reporting (CTR) and X-Sight ActimizeWatch, a secure cloud-based managed analytics service that delivers laser-sharp financial crime detection by actively monitoring analytics performance.

For more information, please visit our web site here.

To join NICE Actimize’s webinar, “Transforming Sanctions Screening: A Discussion with Celent,” please register here.

About NICE Actimize

NICE Actimize is the largest and broadest provider of financial crime, risk and compliance solutions for regional and global financial institutions, as well as government regulators. Consistently ranked as number one in the space, NICE Actimize experts apply innovative technology to protect institutions and safeguard consumers and investors assets by identifying financial crime, preventing fraud and providing regulatory compliance. The company provides real-time, cross-channel fraud prevention, anti-money laundering detection, and trading surveillance solutions that address such concerns as payment fraud, cybercrime, sanctions monitoring, market abuse, customer due diligence and insider trading. Find us at www.niceactimize.com, @NICE_Actimize or Nasdaq: NICE.

About NICE

NICE (Nasdaq: NICE) is the world’s leading provider of both cloud and on-premises enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE helps organizations of all sizes deliver better customer service, ensure compliance, combat fraud and safeguard citizens. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, are using NICE solutions. https://www.nice.com.

Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE’s marks, please see: www.nice.com/nice-trademarks.

Forward-Looking Statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Costigan, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the “Company”). In some cases, such forward-looking statements can be identified by terms such as “believe,” “expect,” “seek,” “may,” “will,” “intend,” “should,” “project,” “anticipate,” “plan,” “estimate,” or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in economic and business conditions, including as a result of the COVID-19 pandemic; competition; successful execution of the Company’s growth strategy; success and growth of the Company’s cloud Software-as-a-Service business; changes in technology and market requirements; decline in demand for the Company’s products; inability to timely develop and introduce new technologies, products and applications; difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company’s dependency on third-party cloud computing platform providers, hosting facilities and service partners;, cyber security attacks or other security breaches against the Company; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the “SEC”). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company’s reports filed from time to time with the SEC, including the Company’s Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.

Contacts

Corporate Media Contact
Cindy Morgan-Olson, +1 646 408 5896, ET, cindy.morgan-olson@niceactimize.com

Investors
Marty Cohen, +1 551 256 5354, ET, ir@nice.com
Yisca Erez +972 9 775 3798, CET, ir@nice.com

Categories
Technology

NICE Actimize honored for AI and advanced analytics innovation in Holistic Trade Surveillance by Regulation Asia

NICE Actimize receives Regulation Asia’s Excellence Award for innovation in artificial intelligence and analytics to spot market abuse, conduct risk and suspicious communications

HOBOKEN, N.J. — (BUSINESS WIRE) — NICE Actimize, a NICE (Nasdaq: NICE) business, announced today that its Holistic Trade and Communications Surveillance solutions suite was recognized by the “Regulation Asia Awards for Excellence 2020” for the second consecutive year with the “Best Solution in Market & Trading Surveillance” award. The Regulation Asia awards program recognizes excellence by firms that work to ensure the highest compliance standards are upheld in the financial industry, and which have shaped the regulatory landscape in Asia Pacific.

Regulation Asia’s “Best Solution” category recognizes solutions designed with specific regulatory requirements in mind, assessed on multiple criteria, including the ease and speed of implementation, flexibility, robustness, scalability, transparency, technical support, cost, and return on investment for end clients, the judges noted. According to Regulation Asia, NICE Actimize was specifically cited as the ‘Winner’ for its use of artificial intelligence and analytics to spot market abuse, conduct risk and suspicious communications early on, thereby preventing reputational, financial and regulatory risk.

Among NICE Actimize’s solutions underscored by this award win is SURVEIL-X, the industry’s first AI-powered, cloud-native, true holistic trade-related surveillance suite. SURVEIL-X accurately and efficiently detects virtually all forms of risky behavior to ensure compliance with key global regulations while protecting financial services organizations from previously undetectable risks that could result in fines and reputational damage.

“Today’s regulations continue to create constant change for financial services organizations, elevating the importance of effective compliance monitoring and trade-related surveillance technology,” said Bradley Maclean, Co-founder, Regulation Asia. “For the second consecutive year, our panel of industry experts have recognized the innovations NICE Actimize offers through its holistic trade and communications surveillance solutions, as well as its use of advanced technologies to enhance its portfolio of financial crime compliance solutions. This award also acknowledges NICE Actimize’s work over the past year to keep up with rapidly changing regulatory requirements.”

“We continue our commitment to the Asia Pacific region and thank Regulation Asia’s expert panel of judges for once again recognizing our innovation in trade and communications surveillance,” said Chris Wooten, EVP, NICE. “NICE Actimize’s end-to-end surveillance suite is a clear leader when it comes to solving today’s increasingly complex challenges. We continue to infuse SURVEIL-X with machine learning and other advanced technologies to support our clients as they meet growing regulatory demands and the need to increase operational efficiency.”

To view a video discussing NICE Actimize’s win in its category, please click here.

For further information on the Regulation Asia Awards, please click here.

About the Regulation Asia Awards for Excellence

The Regulation Asia Awards for Excellence recognizes technology companies, legal and consulting firms, and exchanges that have shaped the regulatory landscape in Asia Pacific, as well as outstanding technology projects both in mature and emerging markets by large tech firms and innovative startups that help meet the requirements of a specific regulatory change infrastructure.

About Regulation Asia

Regulation Asia is the leading source for actionable regulatory intelligence for Asia Pacific markets. Since 2013, our audience and subscription base have grown to include regulatory bodies, exchanges, banks, asset managers and service providers, allowing us to play a key role in the regulatory agenda. Visit www.regulationasia.com or connect via LinkedIn or Twitter.

About NICE Actimize

NICE Actimize is the largest and broadest provider of financial crime, risk and compliance solutions for regional and global financial institutions, as well as government regulators. Consistently ranked as number one in the space, NICE Actimize experts apply innovative technology to protect institutions and safeguard consumers’ and investors’ assets by identifying financial crime, preventing fraud and providing regulatory compliance. The company provides real-time, cross-channel fraud prevention, anti-money laundering detection, and trading surveillance solutions that address such concerns as payment fraud, cybercrime, sanctions monitoring, market abuse, customer due diligence and insider trading. Find us at www.niceactimize.com, @NICE_Actimize or Nasdaq: NICE.

About NICE

NICE (Nasdaq: NICE) is the world’s leading provider of both cloud and on-premises enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE helps organizations of all sizes deliver better customer service, ensure compliance, combat fraud and safeguard citizens. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, are using NICE solutions. www.nice.com.

Trademark Note: Actimize, the Actimize logo, NICE and the NICE logo are trademarks or registered trademarks of NICE Ltd. and/or its subsidiaries. All other marks are trademarks of their respective owners. For a full list of NICE’s marks, please see: http://www.nice.com/nice-trademarks.

Forward-Looking Statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Wooten, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the “Company”). In some cases, such forward-looking statements can be identified by terms such as “believe,” “expect,” “seek,” “may,” “will,” “intend,” “should,” “project,” “anticipate,” “plan,” “estimate,” or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in economic and business conditions, including as a result of the COVID-19 pandemic; competition; successful execution of the Company’s growth strategy; success and growth of the Company’s cloud Software-as-a-Service business; changes in technology and market requirements; decline in demand for the Company’s products; inability to timely develop and introduce new technologies, products and applications; difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company’s dependency on third-party cloud computing platform providers, hosting facilities and service partners;, cyber security attacks or other security breaches against the Company; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the “SEC”). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company’s reports filed from time to time with the SEC, including the Company’s Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.

Contacts

Press:
Cindy Morgan-Olson +1 551 256 5202, cindy.morgan-olson@niceactimize.com, ET

Investors
Marty Cohen, +1 551 256 5354, ir@nice.com, ET

Yisca Erez +972 9 775 3798, ir@nice.com, CET

Categories
Business

NICE Actimize announces ENGAGE LIVE, the largest virtual financial crime risk management customer event of the year, focused on the power of always on AI

Over 1000 attendees from leading Global financial services organizations will attend the conference featuring 35+ sessions dedicated to financial crime solutions and services

HOBOKEN, N.J.–(BUSINESS WIRE)–#Engage–Navigating today’s “Always On” environment with zero compromise requires powerful innovation and smart, strategic decisioning. With this in mind, NICE Actimize, a NICE (NASDAQ: NICE) business today announced ENGAGE LIVE, the financial crime industry’s largest virtual customer event of the year. To be held on October 14-15, 2020, this free event will provide unprecedented insights to guide business decisions at the world’s leading financial institutions. Global financial services organizations will attend the event, featuring more than 35 sessions and six tracks dedicated to financial crime solutions and services.

Focused on the “Always On” environment reflected within the rapidly-changing financial crime industry, the event highlights innovation fueled by Digital Acceleration, Cloud Transformation, Always on AI and Actionable Data. Spotlighted at the interactive Solutions Showcase, event attendees can view the latest technologies in action from NICE Actimize and its X-Sight Marketplace partners. The Showcase will also feature strategic partners, including Infosys, a global leader in next-generation digital services and consulting. Online “Pods” will be staffed for live chat and networking opportunities.

Featuring content to suit every role and interest across anti-money laundering, enterprise fraud, financial markets compliance, and case management, this global event offers a wealth of informative sessions, including visionary keynotes from Craig Costigan, NICE Actimize CEO; Chad Hetherington, NICE Actimize VP, Global Head of Product; and Yossi Levin, NICE Actimize VP, Global Head of Engineering.

Danica Patrick, Robert Herjavec Headline Celebrity Keynotes

On October 14, Danica Patrick, former world-renowned racing driver, will also deliver a keynote to kick off the event. As a professional racecar driver, Patrick broke barriers and set records with her impressive on-track performance. Attendees will have the exclusive opportunity to hear her story and unique perspective on how to stay ahead with speed and agility.

And entrepreneur and leading Shark featured on ABC’s Shark Tank, Robert Herjavec, will join ENGAGE LIVE on October 15. Born in Eastern Europe, and escaping Communism with his parents from the former Yugoslavia, Herjavec rose to launch his own computer company from his basement. In 2003, he founded the Herjavec Group, and it quickly became one of America’s fastest growing technology companies. His motivational business advice has received millions of impressions through TV, print, radio and digital media.

Additional guest speakers include Frank McKenna, Chief Fraud Strategist of Point Predictive, and author of the well-known industry blog “FrankonFraud.” McKenna is an advocate for fraud managers and data scientists, who has dedicated his career to fighting fraud across the world. He has worked with over 200 banks, lenders, and finance companies, to solve fraud issues that impact customers.

“Organizations that accelerate digital transformation will become tomorrow’s leaders,” said Craig Costigan, NICE Actimize CEO who will deliver the opening keynote. “Balancing risk and customer experience is an imperative to transitioning successfully. To help our customers perfect that balancing act, we’ve introduced several innovations fuelled by the Power of our ‘Always On’ AI strategy which is built on the solid foundation of our cloud platforms, Xceed and X-Sight, which provide ease and flexibility for organizations of all sizes.”

To register for ENGAGE LIVE, go to our registration link by clicking here.

To view the complete ENGAGE LIVE Agenda, please click here.

Additional NICE Actimize ENGAGE LIVE resources:

About NICE Actimize

NICE Actimize is the largest and broadest provider of financial crime, risk and compliance solutions for regional and global financial institutions, as well as government regulators. Consistently ranked as number one in the space, NICE Actimize experts apply innovative technology to protect institutions and safeguard consumers and investors assets by identifying financial crime, preventing fraud and providing regulatory compliance. The company provides real-time, cross-channel fraud prevention, anti-money laundering detection, and trading surveillance solutions that address such concerns as payment fraud, cybercrime, sanctions monitoring, market abuse, customer due diligence and insider trading. Find us at www.niceactimize.com, @NICE_Actimize or Nasdaq: NICE.

About NICE

NICE (Nasdaq: NICE) is the world’s leading provider of both cloud and on-premises enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE helps organizations of all sizes deliver better customer service, ensure compliance, combat fraud and safeguard citizens. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, are using NICE solutions. www.nice.com.

Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE’s marks, please see: www.nice.com/nice-trademarks.

Forward-Looking Statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Costigan, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the “Company”). In some cases, such forward-looking statements can be identified by terms such as “believe,” “expect,” “seek,” “may,” “will,” “intend,” “should,” “project,” “anticipate,” “plan,” “estimate,” or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in economic and business conditions, including as a result of the COVID-19 pandemic; competition; successful execution of the Company’s growth strategy; success and growth of the Company’s cloud Software-as-a-Service business; changes in technology and market requirements; decline in demand for the Company’s products; inability to timely develop and introduce new technologies, products and applications; difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company’s dependency on third-party cloud computing platform providers, hosting facilities and service partners;, cyber security attacks or other security breaches against the Company; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the “SEC”). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company’s reports filed from time to time with the SEC, including the Company’s Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.

Contacts

Corporate Media Contact:

Cindy Morgan-Olson, +1-646-408-5896, ET, NICE Actimize, cindy.morgan-olson@niceactimize.com

Investors:

Marty Cohen, +1 551 256 5354, ET, ir@nice.com
Yisca Erez, +972-9-775-3798, CET, ir@nice.com

, , {item content}, October 5, 2020

Categories
For Edit

Trump contracts COVID-19 after downplaying risk for months. What next?

What next for President Trump, his campaign and the U.S government, now that he himself has contracted the virus after downplaying the risk for months?

 

The president tweeted he and the first lady tested positive.

The president’s positive test result came after he spent months playing down the severity of the outbreak that has killed more than 207,000 in the United States and hours after insisting that “the end of the pandemic is in sight.”

 

— NYT: Peter Baker and Maggie Haberman &

— ABC News: Top Stories

Categories
Business

AM Best affirms credit ratings of Genworth Financial, Inc. and its U.S. Life Subsidiaries

OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bb+” of Genworth Life and Annuity Insurance Company (GLAIC) (Richmond, VA). Concurrently, AM Best has affirmed the FSR of C++ (Marginal) and the Long-Term ICRs of “b” of Genworth Life Insurance Company (GLIC) (Wilmington, DE) and Genworth Life Insurance Company of New York (GLICNY) (New York, NY). Additionally, AM Best has affirmed the Long-Term ICRs of “b” of Genworth Financial, Inc. (Genworth) [NYSE: GNW] and Genworth Holdings, Inc. (both domiciled in Delaware), as well as their Long-Term Issue Credit Ratings (Long-Term IR). The outlook of these Credit Ratings (ratings) is stable.

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

The ratings of GLAIC also reflect its strong balance sheet strength, including the level and quality of capital, and the quality of the asset portfolio. Although absolute and risk-adjusted capital, as measured by Best’s Capital Adequacy Ratio (BCAR), increased in 2019, many uncertainties around the strength of the balance sheet remain related to the potential for future reserve increases or asset impairments. There has been history of negative profitability in aggregate and in most lines of businesses. GLAIC calculated its risk-based capital (RBC) level at 438% at the end of 2019, an increase from the prior-year RBC score of 422%.

The ratings of GLIC and GLICNY reflect the group’s balance sheet strength, which AM Best categorizes as weak, as well as its weak operating performance, limited business profile and appropriate enterprise risk management.

The ratings of GLIC and GLICNY reflect AM Best’s view of its balance sheet strength and its operating performance. Risk-adjusted capitalization, as measured by BCAR and other capital metrics, is low and volatile. A strong offsetting factor is management’s focused strategy of garnering actuarially supported premium rate increases on in-force, long-term care policies. Management identified the need for these increases several years ago, took corrective action and has achieved meaningful results. While GNW has demonstrated success at achieving premium rate increases in the past, operating losses continue to persist due to deviation in experience relative to pricing assumptions. The impact and timing of the approval and receipt of those rate increases continue to be uncertain. GLIC calculated its RBC level at 213% at the end of 2019, an increase from the prior-year RBC score of 199%, while GLICNY’s RBC improved to 291% from 223% between 2018 and 2019.

The rating affirmations of the two holding companies, Genworth and Genworth Holdings, Inc., as well as its associated debt, reflect the ongoing challenges the operating companies face, its debt obligations and secured promissory note to settle recent dispute. Genworth has shown financial flexibility navigating through those complications, including the sale of Genworth’s stake in Genworth MI Canada, Inc. in 2019, the recent $750 million senior notes offering by Genworth Mortgage Holdings, Inc. and a potential 19.9% IPO of the U.S. mortgage insurance business. Finally, GNW continues to pursue closing the transaction with China Oceanwide Holdings Group Co. Ltd. and the $1.5 billion capital commitment, which has been delayed due to funding issues given current market challenges with COVID-19.

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

Genworth Holdings, Inc. (guaranteed by Genworth Financial, Inc.)—

— “b” on $400 million 7.20% senior unsecured notes, due 2021

— “b” on $750 million 7.625% senior unsecured notes, due 2021

— “b” on $400 million 4.9% senior unsecured notes, due 2023

— “b” on $400 million 4.8% senior unsecured notes, due 2024

— “b” on $300 million 6.50% senior unsecured notes, due 2034

— “ccc+” on $600 million fixed/floating rate junior subordinated notes, due 2066

The following indicative Long-Term IRs on securities available under the universal shelf registration have been affirmed with a stable outlook:

Genworth Financial, Inc.—

–“b” on senior unsecured debt

–“b-” on subordinated debt

–“ccc+” on preferred stock

Genworth Holdings, Inc.—

— “b” on senior unsecured debt

— “b-” on subordinated debt

— “ccc+” on preferred stock

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

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 New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Bruno Caron
Senior Financial Analyst
+1 908 439 2200, ext. 5144
bruno.caron@ambest.com

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

Michael Porcelli
Director
+1 908 439 2200, ext. 5548
michael.porcelli@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Categories
International & World

AM Best downgrades credit ratings of Insurance Corporation of Barbados Limited; places under review with developing implications

OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating to “bbb+” from “a-” of Insurance Corporation of Barbados Limited (ICBL) (Barbados). Concurrently, AM Best has placed these Credit Ratings (ratings) under review with developing implications.

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

This rating action follows the announcement that BF&M Limited, ICBL’s majority shareholder, has sold its 51% share ownership in ICBL to Paynes Bay Finance Inc., an investment vehicle owned and controlled by Joe Poulin through his family office, JPK Capital. The rating downgrades reflect the removal of rating enhancement that ICBL received from BF&M Limited.

Additionally, the under review with developing implications status reflects the need for AM Best to assess the new majority shareholder, its strategic plans for ICBL and the potential impact on the company’s rating fundamentals. The ratings will remain under review until AM Best has conducted detailed discussions with JPK Capital and completes its evaluation of the transaction and the implications for ICBL.

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 media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

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 New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Ricardo A. Longchallon

Senior Financial Analyst

+1 908 439 2200, ext. 5676
ricardo.longchallon@ambest.com

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

Sharon Marks
Associate Director
+1 908 439 2200, ext. 55477

sharon.marks@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Categories
Business

AM Best revises outlooks to stable for Constitution Insurance Company

OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Constitution Insurance Company (Constitution) (headquartered in Omaha, NE).

The Credit Ratings (ratings) reflect Constitution’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

The stable outlooks consider the enhanced business profile, as Constitution has begun to expand its urban homeowners and dwelling fire books of business. In addition, Constitution now participates on a workers’ compensation quota share program with an affiliated company, which provides some product diversity. Nonetheless, Constitution still faces geographic and product concentrations, and AM Best will continue to monitor the company’s progress with its business plans and execution over the near term.

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 media use of Best’s

Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

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 New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Raymond Thomson, CPCU, ARe, ARM

Director
+1 908 439 2200, ext. 5621
raymond.thomson@ambest.com

Greg Williams
Senior Director
+1 908 439 2200, ext. 5815
greg.willams@ambest.com

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

Jim Peavy

Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Categories
Business

Dun & Bradstreet announces second quarter 2020 earnings release and conference call; participating in an upcoming investor conference

SHORT HILLS, N.J.–(BUSINESS WIRE)–Dun & Bradstreet Holdings, Inc. (“Dun & Bradstreet”) (NYSE:DNB), a leading global provider of business decisioning data and analytics, today announced the date for the release of its second quarter 2020 earnings and its participation in an upcoming investor conference.

Second Quarter 2020 Earnings

Dun & Bradstreet will release second quarter 2020 earnings before the market opens on August 6, 2020. A conference call to discuss its results will follow at 8:30 a.m. Eastern Time that same day.

Those wishing to participate via the webcast should access the call through Dun & Bradstreet’s Investor Relations website at https://investor.dnb.com. Those wishing to participate via the telephone may dial in at 833-350-1376 (USA) or 647-689-6655 (International) and enter the conference ID: 7189713. The conference call replay will be available via webcast through Dun & Bradstreet’s Investor Relations website. The telephone replay will be available from 11:30 a.m. Eastern Time on August 6, 2020, through August 13, 2020, by dialing 800-585-8367 (USA) or 416-621-4642 (International). The replay passcode will be 7189713.

Upcoming Investor Conference

Anthony Jabbour, Dun & Bradstreet’s chief executive officer, and Bryan Hipsher, Dun & Bradstreet’s chief financial officer, will participate in the Wells Fargo Virtual Technology Services Conference on Monday, August 10, 2020.

About Dun & Bradstreet

Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet’s Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk, and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity.

Contacts

Investor Contact:
Debra McCann

973-921-6008

IR@dnb.com

Media Contact:
Lisette Kwong

973-921-6263

KwongL@dnb.com