ROE

Global outlook: Insurance industry strengthens resilience in challenging environment, says Swiss Re Institute

Retrieved on: 
Thursday, December 21, 2023

Major economies are diverging with the US continuing to grow, Europe stagnating and China grappling with structural domestic growth challenges.

Key Points: 
  • Major economies are diverging with the US continuing to grow, Europe stagnating and China grappling with structural domestic growth challenges.
  • According to the sigma "Risk on the rise as headwinds blow stronger" the global insurance industry's strengthening financial position offers welcome reinforcement against elevated macroeconomic and geopolitical risks.
  • Jérôme Jean Haegeli, Swiss Re's Group Chief Economist, says: "Fading economic tailwinds and geopolitical uncertainties reinforce the primary insurance industry's essential role in risk transfer.
  • The adjustment to the new normal of higher interest rates is supportive for the global life insurance industry.

Abacus Life Reports Third Quarter 2023 Results

Retrieved on: 
Monday, November 13, 2023

ORLANDO, Fla., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Abacus Life, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL), a leading buyer of life insurance policies and vertically integrated alternative asset manager specializing in specialty insurance products, today reported results for the quarter ended September 30, 2023.

Key Points: 
  • - GAAP Net Income of $0.9 Million; non-GAAP Adjusted Net Income of $9.2 Million -
    ORLANDO, Fla., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Abacus Life, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL), a leading buyer of life insurance policies and vertically integrated alternative asset manager specializing in specialty insurance products, today reported results for the quarter ended September 30, 2023.
  • “Our strong third quarter results continue to validate Abacus' differentiated business model and further contributes to our solid track record of sustained growth,” said Jay Jackson, Chief Executive Officer of Abacus.
  • Total revenue for the third quarter of 2023 grew 20% to $21.1 million, compared to $17.5 million in the prior-year period.
  • GAAP net income attributable to shareholders for the third quarter of 2023 was $0.9 million, compared to $11.2 million in the prior-year period.

Black Rock Oceanfront Resort Selects Agilysys Hospitality Technology To Expertly Deliver Luxury Experiences, Elevate Guest Returns and Manage Residence Rentals and Spa Operations

Retrieved on: 
Monday, December 18, 2023

The tranquility of the Pacific Ocean and its idyllic setting is one of the main reasons thousands of people stay at and return to British Columbia’s Black Rock Oceanfront Resort each year.

Key Points: 
  • The tranquility of the Pacific Ocean and its idyllic setting is one of the main reasons thousands of people stay at and return to British Columbia’s Black Rock Oceanfront Resort each year.
  • Black Rock Oceanfront Resort chose state-of-the-art hospitality solutions from Agilysys to help them create these personalized hospitality moments.
  • “We were looking for a partner to help us rise above the rest,” said Adele Larkin, general manager, Black Rock Oceanfront Resort.
  • Situated on the traditional lands of the Ucluelet First Nation, Black Rock Oceanfront Resort is actively striving to become a zero-waste hotel.

AM Best Affirms Credit Ratings of Arab War Risks Insurance Syndicate

Retrieved on: 
Friday, December 15, 2023

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Arab War Risks Insurance Syndicate (AWRIS) (Bahrain).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Arab War Risks Insurance Syndicate (AWRIS) (Bahrain).
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

AM Best Affirms Credit Ratings of China Taiping Insurance (HK) Company Limited

Retrieved on: 
Friday, December 8, 2023

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of China Taiping Insurance (HK) Company Limited [CTPI(HK)] (Hong Kong).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of China Taiping Insurance (HK) Company Limited [CTPI(HK)] (Hong Kong).
  • It also incorporates the rating enhancement that CTPI(HK) receives from its parent, China Taiping Insurance Holdings Company Limited (CTIH).
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

AM Best Assigns Credit Ratings to Mongolian National Reinsurance JSC

Retrieved on: 
Friday, December 1, 2023

AM Best has assigned the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” (Fair) to Mongolian National Reinsurance JSC (Mongolian Re) (Mongolia).

Key Points: 
  • AM Best has assigned the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” (Fair) to Mongolian National Reinsurance JSC (Mongolian Re) (Mongolia).
  • Mongolian Re broadened its business scope in 2018 to include additional reinsurance lines of business such as property, motor, aviation, liability and personal accident.
  • 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 Affirms Credit Ratings of Folgate Insurance Company Limited

Retrieved on: 
Friday, December 1, 2023

AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” (Fair) of Folgate Insurance Company Limited (Folgate) (United Kingdom).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” (Fair) of Folgate Insurance Company Limited (Folgate) (United Kingdom).
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

Phoenix Holdings Publishes Financial Results for Q3 2023, with Continued Improvement in Core Income

Retrieved on: 
Thursday, November 30, 2023

Phoenix Holdings Ltd., a leading Israel-based financial, insurance, and investment group (TLV:PHOE) (“Phoenix,” the “Group,” or the “Company”), today reported its results for the third quarter of 2023.

Key Points: 
  • Phoenix Holdings Ltd., a leading Israel-based financial, insurance, and investment group (TLV:PHOE) (“Phoenix,” the “Group,” or the “Company”), today reported its results for the third quarter of 2023.
  • Phoenix made direct donations and facilitated donations from organizations and people around the world for immediate and urgent needs.
  • The results for the third quarter of 2023 reflect the continued improvement in core income across the Group’s activities and the continued execution of our growth strategy in the insurance, asset management, distribution, and credit businesses.
  • The comprehensive income before tax for the third quarter of 2023 amounted to NIS 22 million, compared to a comprehensive income of NIS 24 million before tax in the third quarter of 2022.

AM Best Affirms Credit Ratings of African Reinsurance Corporation

Retrieved on: 
Thursday, November 30, 2023

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of African Reinsurance Corporation (ARC) (Nigeria).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of African Reinsurance Corporation (ARC) (Nigeria).
  • The outlook of these Credit Ratings (ratings) is stable.
  • 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 .

Grupo Supervielle Reports 3Q23 Results

Retrieved on: 
Monday, November 27, 2023

Grupo Supervielle S.A. (NYSE: SUPV; BYMA: SUPV), (“Supervielle” or the “Company”) a universal financial services group headquartered in Argentina with a nationwide presence, today reported results for the three and nine-months period ended September 30, 2023.

Key Points: 
  • Grupo Supervielle S.A. (NYSE: SUPV; BYMA: SUPV), (“Supervielle” or the “Company”) a universal financial services group headquartered in Argentina with a nationwide presence, today reported results for the three and nine-months period ended September 30, 2023.
  • Starting 1Q20, the Company began reporting results applying Hyperinflation Accounting, in accordance with IFRS rule IAS 29 (“IAS 29”) as established by the Central Bank.
  • Commenting on third quarter 2023 results, Patricio Supervielle, Grupo Supervielle’s Chairman & CEO, noted: “We are pleased to report another quarter with improved profitability and ROAE reaching 18.5% in real terms.
  • On an accumulated basis, we delivered solid results, with ROE in real terms improving to 13% from negative 5% in the year-ago period.