Guarantee Security Life Insurance Company

Upstream Life Insurance Company Announces $300 Million Transaction with Antarctica Capital

Retrieved on: 
Thursday, September 21, 2023

Upstream Life Insurance Company (the “Company”) announced that they have entered into an agreement under which the Company may cede up to $300 million of fixed annuity statutory reserves to Antarctica Capital.

Key Points: 
  • Upstream Life Insurance Company (the “Company”) announced that they have entered into an agreement under which the Company may cede up to $300 million of fixed annuity statutory reserves to Antarctica Capital.
  • The reinsured block may consist of certain durations of the Company’s Secure Legacy MYGA statutory reserves over the 2023 and 2024 issue years.
  • The transaction is expected to improve the Company’s capital position, including increases to free cash flow and RBC coverage.
  • This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of any securities that may be referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

Riskified Reports Strong Second Quarter Revenue Growth of 21%; Board Authorizes $75 Million Share Repurchase Program

Retrieved on: 
Tuesday, August 15, 2023

Looking forward, we remain on track to deliver positive Adjusted EBITDA in the fourth quarter of 2023,” said Aglika Dotcheva, Chief Financial Officer of Riskified.

Key Points: 
  • Looking forward, we remain on track to deliver positive Adjusted EBITDA in the fourth quarter of 2023,” said Aglika Dotcheva, Chief Financial Officer of Riskified.
  • We are improving our revenue guidance for the year ending December 31, 2023 as follows:
    Revenue between $298 million and $303 million, or $300.5 million to the midpoint.
  • Adjusted EBITDA(2) to be between negative $17 million and negative $12 million, or negative $14.5 million to the midpoint.
  • On August 8, 2023, the Company's Board of Directors authorized the repurchase of up to $75 million of the Company’s ordinary shares, subject to the completion of required Israeli regulatory procedures.

Greenlite Ventures, dba Game Time Productions, Reports Financial Results for Year End March 31, 2023

Retrieved on: 
Thursday, July 13, 2023

BOCA RATON, Fla., July 12, 2023 (GLOBE NEWSWIRE) -- via IBN -- Greenlite Ventures, Inc ( OTC: "GRNL" ) reported results for the year ended March 31, 2023.

Key Points: 
  • BOCA RATON, Fla., July 12, 2023 (GLOBE NEWSWIRE) -- via IBN -- Greenlite Ventures, Inc ( OTC: "GRNL" ) reported results for the year ended March 31, 2023.
  • The year ended March 31, 2023 contains one-time, non-recurring expenses primarily dealing with non-cash stock-based related charges as well as extinguishment of debt.
  • This purchase enabled the Company to have its shell designation removed on March 29, 2023.
  • Actual results could differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly.

AM Best Downgrades Credit Ratings of Members of Columbian Financial Group; Maintains Under Review With Negative Implications Status

Retrieved on: 
Wednesday, June 7, 2023

Concurrently, AM Best has maintained the under review with negative implications status for these Credit Ratings (ratings).

Key Points: 
  • Concurrently, AM Best has maintained the under review with negative implications status for these Credit Ratings (ratings).
  • The ratings will remain under review until the transaction comes to a conclusion and AM Best evaluates the overall impacts.
  • 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 .

Midwest Holding Inc. Reports First Quarter 2023 Results

Retrieved on: 
Monday, May 15, 2023

LINCOLN, Neb., May 15, 2023 /PRNewswire/ -- Midwest Holding Inc. ("Midwest") (NASDAQ: MDWT), today announced financial results for the quarter ended March 31, 2023.

Key Points: 
  • LINCOLN, Neb., May 15, 2023 /PRNewswire/ -- Midwest Holding Inc. ("Midwest") (NASDAQ: MDWT), today announced financial results for the quarter ended March 31, 2023.
  • GAAP net income for the quarter was $3.8 million compared with $0.2 million recorded in the first quarter of 2022.
  • Midwest reported net income of $3.8 million for Q1 2023; this compares with $0.2 million in the first quarter of the prior year.
  • Our expenses were $29.8 million in the first quarter of 2023 compared with $(3.3) million in the first quarter of the prior year.

Taboola Beats Guidance in Q1 On All Metrics; Raises Mid-point for 2023; Announcing Up To $40M Buyback and $50M Debt Repayment

Retrieved on: 
Wednesday, May 10, 2023

As a result, it is impractical for us to provide guidance on net income (loss) or to reconcile our Adjusted EBITDA and Non-GAAP Net Income (Loss) guidance without unreasonable efforts.

Key Points: 
  • As a result, it is impractical for us to provide guidance on net income (loss) or to reconcile our Adjusted EBITDA and Non-GAAP Net Income (Loss) guidance without unreasonable efforts.
  • For the same reasons, we are unable to address the probable significance of the unavailable information.
  • On May 9, 2023, the Company's Board of Directors authorized the buyback of up to $40 million of the Company’s ordinary shares.
  • The timing and amount of any share buybacks will be subject to market conditions and other factors determined by the Company.

AM Best Downgrades Credit Ratings of Members of Columbian Financial Group; Revises Under Review Status to Negative

Retrieved on: 
Thursday, April 20, 2023

Concurrently, AM Best has maintained the under review status for these Credit Ratings (ratings) and revised the implications status to negative from developing.

Key Points: 
  • Concurrently, AM Best has maintained the under review status for these Credit Ratings (ratings) and revised the implications status to negative from developing.
  • The ratings will remain under review with negative implications until the transaction approvals are finalized, the transaction closes, and AM Best evaluates the overall impact.
  • 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 .

SEC Charges Three Sales Agents at StraightPath Venture Partners With Fraud and Unregistered Broker Activity

Retrieved on: 
Thursday, March 23, 2023

The Commission previously charged StraightPath Venture Partners, StraightPath Management LLC, and its four principals in May 2022 in connection with a $410 million fraud.

Key Points: 
  • The Commission previously charged StraightPath Venture Partners, StraightPath Management LLC, and its four principals in May 2022 in connection with a $410 million fraud.
  • The defendants allegedly provided investors with marketing materials, advised investors on the supposed merits of the investments, and received transaction-based compensation, all hallmarks of a broker, despite not being registered as brokers.
  • “StraightPath Venture Partners could not have cheated investors without the unregistered sales agents who fraudulently solicited them,” said Antonia M. Apps, Director of the New York Regional Office.
  • The SEC appreciates the assistance of the Financial Industry Regulatory Authority; the Office of the Montana State Auditor, Commissioner of Securities and Insurance; and the New Jersey Bureau of Securities.

AM Best Maintains Under Review with Developing Implications Status for Credit Ratings of Members of Columbian Financial Group

Retrieved on: 
Tuesday, February 28, 2023

AM Best has maintained the under review with developing implications status for the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Ratings of “bb+” (Fair) of Columbian Mutual Life Insurance Company (Columbian) (Binghamton, NY) and Columbian Life Insurance Company (Chicago, IL), collectively referred to as Columbian Financial Group (CFG).

Key Points: 
  • AM Best has maintained the under review with developing implications status for the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Ratings of “bb+” (Fair) of Columbian Mutual Life Insurance Company (Columbian) (Binghamton, NY) and Columbian Life Insurance Company (Chicago, IL), collectively referred to as Columbian Financial Group (CFG).
  • The Credit Ratings (ratings) reflect CFG’s balance sheet strength, which AM Best assesses as adequate, as well as its marginal operating performance, neutral business profile and appropriate enterprise risk management.
  • 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 .

Travel + Leisure Co. Reports Fourth Quarter and Full-Year 2022 Results and Provides 2023 Outlook

Retrieved on: 
Wednesday, February 22, 2023

Fourth quarter Adjusted EBITDA was $57 million compared to $62 million in the prior year due to the revenue decrease, partially offset by cost savings.

Key Points: 
  • Fourth quarter Adjusted EBITDA was $57 million compared to $62 million in the prior year due to the revenue decrease, partially offset by cost savings.
  • At the end of the fourth quarter, the Company had $1.6 billion of liquidity in cash and cash equivalents and revolving credit facility availability.
  • The Company amended the credit agreement governing its $1 billion revolving credit facility and term loan B on December 14, 2022.
  • Travel + Leisure Co. will hold a conference call with investors to discuss the Company’s results and outlook today at 8:30 a.m.