Website Profit – Blau Webkatalog http://blau-webkatalog.com/ Mon, 13 Jun 2022 18:04:29 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://blau-webkatalog.com/wp-content/uploads/2021/08/icon-18-150x150.png Website Profit – Blau Webkatalog http://blau-webkatalog.com/ 32 32 Add these 5 insurance actions to boost your portfolio in 2H22 https://blau-webkatalog.com/add-these-5-insurance-actions-to-boost-your-portfolio-in-2h22/ Mon, 13 Jun 2022 15:26:03 +0000 https://blau-webkatalog.com/add-these-5-insurance-actions-to-boost-your-portfolio-in-2h22/ The insurance industry continues to benefit from better pricing, conservative underwriting, increased exposure, an improving pricing environment and a strong capital position despite an active catastrophic environment. The insurance industry is a major contributor to the country’s GDP. Given the ongoing economic expansion. Insurers are primed for growth. In a favorable macroeconomic context, Axis Capital […]]]>

The insurance industry continues to benefit from better pricing, conservative underwriting, increased exposure, an improving pricing environment and a strong capital position despite an active catastrophic environment. The insurance industry is a major contributor to the country’s GDP. Given the ongoing economic expansion. Insurers are primed for growth.

In a favorable macroeconomic context, Axis Capital Holdings Limited AXS, American Financial Group Inc.. AFG, Argo Group International Holdings, Ltd. ARGO, Brighthouse Financial Inc.. BHF and Unum Group The UNM is geared up for a solid performance based on operational excellence.

Factors likely to have an impact on insurers in 2H

Cat environment

The second half of the year traditionally bears the brunt of hurricanes. According to Colorado State University (CSU), 2022 is expected to see an active hurricane season that could have 19 named storms, including nine hurricanes and four major hurricanes. This year’s hurricane season could be about 130% of the average season per CSU.

Last year also saw an above-average hurricane season. According to a report by the Swiss Re Institute, catastrophic insured losses worldwide incurred in 2021 amounted to $112 billion, making it the fourth most expensive year. Natural disasters accounted for $105 billion in insured losses worldwide, a 17% increase from 2020 levels, according to the report. The industry suffered a net underwriting loss of $3.8 billion compared to an underwriting gain of $5.2 billion in 2020, as the magnitude of the increase in premiums earned was less than the magnitude of rising losses and loss adjustment costs according to a report by Verisk and American Property Casualty Insurance. Association. The combined ratio deteriorated by 100 basis points to 99.6 in 2021.

According to the American Property Casualty Insurance Association and Verisk, the profitability of U.S. private P&C insurers (measured by an annualized rate of return on average insured surplus) was 6.4% in 2021, down from 6.9% in 2020.

Nevertheless, prudent underwriting by insurers, better pricing, favorable reserve developments and a solid level of capital should help them withstand the impact.

Prices continue to improve

Catastrophic events weigh on the profitability of insurers’ underwriting. Still, price hikes from industry players should help keep them afloat. Insurers continue to see price improvement, albeit to a lesser degree. According to Marsh, global commercial insurance prices in the first quarter of 2022 rose 11%, marking the 18th consecutive quarter of price increases. According to the report, property rates increased by 7%, accident rates increased by 7%, financial and business line rates in the United States increased by 26% and cyber insurance rates increased. by 26%. According to Willis Towers Watson’s 2022 Insurance Market Realities Report, rates will continue to rise, but by a small margin.

Better pricing will help insurers underwrite higher premiums. According to information from Deloitte, global non-life premiums are expected to increase by 3.7% in 2022, while life insurance premiums are expected to increase by 4%.

Interest rate increases

Given the improved pricing environment, insurers stand to benefit as they are the direct beneficiaries of the rate hike. The Federal Reserve has raised twice this year so far — in March and May — with more to come. The interest rate is currently between 0.75% and 1%.

The improvement in the pricing environment will primarily benefit P&C and life insurers (whose revenue typically comes from the difference between the returns on their investments and what they credit as interest on policies and life insurance products). ‘insurance).

Technology adoption

Accelerated digitization has taken place with increased use of technologies such as blockchain, AI, advanced analytics, telematics, cloud computing, and robotic process automation in day-to-day operations. These are likely to help insurers ensure transparent underwriting and claims handling, which in turn will help contain costs and therefore expand margins.

According to Deloitte Insights, the technology budget is expected to increase by 13.7% in 2022

Efficient deployment of capital

With a solid level of capital, insurers engage in strategic consolidations to expand their businesses, develop niches and invest in growth opportunities. Insurers are also approving dividend increases, special dividends and share buybacks to increase shareholder value.

Stocks to add to your portfolio

With the help of the Zacks Stock Screener, we shortlisted five insurance stocks with a favorable Zacks ranking, backed by upward estimate revisions, and an impressive value score of A or B. The value score helps identify undervalued companies. The deviation from their fair value is what creates an exceptional upside opportunity. Additionally, back-tested results showed that stocks with a favorable style score of A or B coupled with a strong Zacks ranking are the best investment bets.

You can see the full list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Axis Capital Holdings is a leading specialty insurer and global reinsurer, targeting leadership in specialty risks. The company’s focus on building a portfolio of specialty insurance, reinsurance as well as accident and health insurance, its strong market presence, better pricing, expanding margins and effective deployment capital should stimulate growth. This Zacks No. 2 (buy) ranked insurer remains focused on lines of business likely to offer strong double-digit ROE opportunities.

AXS has one of the highest dividend yields among its peers and has made 18 consecutive dividend increases.

AXS’s 2022 net profit estimates have risen 1.5% over the past 30 days and suggest a 22.4% increase on the figure reported a year ago. Axis Capital has an impressive VGM score of A. The expected long-term growth rate is set at 5%.

American financial The Group is a niche player in the property and casualty insurance and annuity markets with a focus on specialized commercial products for businesses. New business opportunities, growth in excess lines and excess liability business, rate increases and greater retention in renewal business in real estate and transportation, specialty damages and specialty financial services prepare this Zacks No. 1 rank insurer for growth.

AFG has a strong record of increasing dividends for 17 consecutive years and has paid 18 exceptional dividends in 11 years.

AFG’s 2022 net income estimates have risen 9.8% over the past 60 days.

Argo Group is a US-focused specialty insurer poised to capitalize on highly profitable businesses, growth initiatives, expense drive programs and digitalization.

The Argo Group, bearing Zacks rank No. 2, expects to generate an operating return on equity between 9% and 11% in 2022.

ARGO 2022 net income estimates are up 0.2% over the past 60 days and suggest a 255.5% increase over the number reported a year ago. Argo has an impressive VGM score of A.

Brighthouse Financial is one of the largest providers of annuity and life insurance products in the United States and is well positioned to take advantage of the growth in the individual insurance market, given a broad and attractive range of annuity and annuity products as well as a strong market presence. This Zacks No. 2 ranked insurer remains focused on increasing new sales of life insurance products and expanding its distribution network, aiming to become a leading player in the industry.

The Zacks consensus estimate for Brighthouse Financial’s earnings in 2022 has risen 4.3% over the past seven days.

Unum Group provides long term care insurance, life insurance, employer and employee paid group benefits and related services. Continued dental product rollout and geographic expansion has paid off as the acquired dental insurance business expands in the US and UK.

Unum, carrying Zacks Rank #2, has a track of increasing dividends 13 times over the past 12 years.

UNM’s net income estimates for 2022 have risen 1.5% over the past seven days and suggest a 17% increase from the figure reported a year ago. Unum Group has an impressive VGM score of A. The expected long-term growth rate is pegged at 11.9%, better than the industry average of 8.4%.

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JetBlue CEO is ‘confident’ the airline will be able to buy Spirit https://blau-webkatalog.com/jetblue-ceo-is-confident-the-airline-will-be-able-to-buy-spirit/ Sat, 11 Jun 2022 03:46:29 +0000 https://blau-webkatalog.com/jetblue-ceo-is-confident-the-airline-will-be-able-to-buy-spirit/ The CEO of JetBlue says he is “optimistic” he can reach an agreement to acquire Spirit Airlines. Florida-based ultra-low-cost carrier Spirit is the subject of a bidding war between JetBlue and Frontier. Spirit repeatedly rejected JetBlue’s offer. JetBlue Airways Corp (JBLU.O) chief executive Robin Hayes said on Friday he “hopes” he can reach an agreement […]]]>

  • The CEO of JetBlue says he is “optimistic” he can reach an agreement to acquire Spirit Airlines.
  • Florida-based ultra-low-cost carrier Spirit is the subject of a bidding war between JetBlue and Frontier.
  • Spirit repeatedly rejected JetBlue’s offer.

JetBlue Airways Corp (JBLU.O) chief executive Robin Hayes said on Friday he “hopes” he can reach an agreement to acquire Spirit Airlines Inc (SAVE.N).

“We are confident that there is currently, by all accounts, a genuine desire on the part of the board of Spirit to join us,” Hayes told Reuters at a meeting on Friday evening. “We will continue to draw with the Spirit board over the next two weeks.”

Florida-based super-low-cost carrier Spirit is the subject of a bidding battle between JetBlue and Frontier Group Holdings Inc (ULCC.O). Soul repeatedly rejected JetBlue’s deal, saying it had a slim chance of getting approval from US controllers.

Soul postponed the investor vote on its consolidation with Frontier to June 30 from June 10. Read more Hayes said he thinks most Spirit investors accept that JetBlue’s proposal is unmatched and “that’s why they need to postpone the vote”.

JPMorgan said in an expert report on Thursday that an arrangement by JetBlue to buy Spirit has turned into a “developing probability.”

Read more: Crypto-Based Dossier Could Help Prove Russia’s War Crimes

Both bidders view Spirit as a chance to expand their local impressions when the US carrier industry is beset by stubborn work and aircraft deficiencies. Both arrangements would make America’s fifth-largest aircraft.

JetBlue improved its proposal by increasing its opposing separation fee from $150 million to $350 million, bringing the overall value of its proposed arrangement to $3.4 billion. The New York-based carrier offered to pay a portion of the fee immediately after Spirit’s investors approved the arrangement. understand more

Wilderness agreed to pay a $250 million severance charge, but declined to increase its offer of $21.10 in real money and stock to Friday’s end price in light of JetBlue’s reconsidered offer .

Hayes said the amended deals describe “the edge of the hard cycle the board (Spirit) should have run anyway. The things that happened in the last fourteen days could have happened months ago.

JetBlue’s Upper East Alliance (NEA) organization with American Airlines (AAL.O) is an anchor with Spirit.

The Department of Justice sued JetBlue and America to loosen up the organization. Soul asked if she needed an arrangement, but JetBlue refused.

JPMorgan said JetBlue may want to trade the NEA organization for a consolidation.

“Consolidations are groundbreaking by plan,” the note says.

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Blood Bank Analyzer Market Expected to Grow at Significant Rate by 2021 2026 Key Player-Abbott Roche Beckman Coulter – mbu timeline https://blau-webkatalog.com/blood-bank-analyzer-market-expected-to-grow-at-significant-rate-by-2021-2026-key-player-abbott-roche-beckman-coulter-mbu-timeline/ Fri, 10 Jun 2022 08:55:31 +0000 https://blau-webkatalog.com/blood-bank-analyzer-market-expected-to-grow-at-significant-rate-by-2021-2026-key-player-abbott-roche-beckman-coulter-mbu-timeline/ Decisive Markets Insights Market Research Report is a conscious representation of significant data compiled in the article and accumulated through primary and secondary research. In a global market amidst multiple market states, these primary and secondary initiatives jointly replicate high potential returns. Almost triggering the upstream development journey, the research report helps readers to identify […]]]>

Decisive Markets Insights Market Research Report is a conscious representation of significant data compiled in the article and accumulated through primary and secondary research. In a global market amidst multiple market states, these primary and secondary initiatives jointly replicate high potential returns. Almost triggering the upstream development journey, the research report helps readers to identify the influential growth drivers of the market. Considering the holistic picture of the market, the market research report thus gives the reader an edge over others and hence helps him to make smart business decisions. The market research report contains vital parts which include competition area, type of thing, topographical part, purpose of use and its application etc.

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By key players: Abbott Roche Beckman Coulter Biokit BioMérieux BD Fujirebio Bio-Rad HOLOGIC DiaSorin Grifols Innogenetics Immucor Siemens Novartis Tecan Proteome Sciences Diagast Johnson & Johnson Orchid CellMark

The market research report contains crucial data and information pertaining to the past and current market scenario. Market vitals such as distinct systems, production measurement, market information, market revenue, usage, internet advantage, cost construction, trade, export, inside and outside market background surveys, market limitation, market shares, as well as many marketing programs, etc. well described in the market research industry report as well. Granular intricacies on the profiles of institutions alongside organizations are presented by Decisive Markets Insights. Also, to ensure their growth rate patterns in the estimated period, coordinated efforts among key players and systems are prescribed to the associations. The study of the research report also evaluates the minor as well as huge areas of the business.

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Information associated with drivers, growth patterns, restraints, significant opportunities, and significant issues faced by the existing market players are presented in the Decisive Markets Insights Market Research Report. A careful assessment of their financial experts, new consolidations, stakeholders, and acquisitions that will significantly alter the business domain in the coming years are also provided in the research report. Decisive Markets Insights offers a professional synopsis of the international market that contains substantial details about the market restraints and drivers. It also consists of various market challenges and market opportunities that may affect the overall development situation of the international market.
The precise broad scope of things like market growth potential, expansion prospects, supply chain, profitability, needs, along with other key topics are included in the industry report market studies. Moreover, all the essential components along with growth rate, market share, market size, trade expert insights and valuable data in all respects are well covered in the research report. Moreover, through the market research report, top companies are allowed to get in-depth insights about market opportunities, future market challenges, business development and other upcoming associated factors.

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AMAC and Free2Care Coalition Welcome FTC Investigation into PBMs – AMAC https://blau-webkatalog.com/amac-and-free2care-coalition-welcome-ftc-investigation-into-pbms-amac/ Wed, 08 Jun 2022 16:10:14 +0000 https://blau-webkatalog.com/amac-and-free2care-coalition-welcome-ftc-investigation-into-pbms-amac/ Free2Care applauds the Federal Trade CommissionThe FTC’s Decision to Investigate the Prescription Drug Intermediary Industry. The survey requires the six largest Pharmacy Benefit Managers (PBMs) – which control 95% of prescriptions – to provide information and records regarding their business practices. The Free2VSare coalition and the Association of Mature American […]]]>




Free2Care applauds the Federal Trade CommissionThe FTC’s Decision to Investigate the Prescription Drug Intermediary Industry.

The survey requires the six largest Pharmacy Benefit Managers (PBMs) – which control 95% of prescriptions – to provide information and records regarding their business practices.

The Free2VSare coalition and the Association of Mature American Citizens (AMAC) were jointly responsible for nearly three-quarters of the comments the FTC received on the matter.

Senior Vice President of AMAC Action, Andy Mangione issued the following statement in response to the FTC’s vote:

“Americans are fed up with high drug prices and drug shortages that are a direct result of anti-competitive behavior and consolidations between PBMs and insurers.

This is a crucial first step in reforming the system; a clear understanding of how these intermediaries operate would provide transparency and insight into how patients are being harmed.

Free2Care Director David Balat issued the following statement in response to the FTC’s vote:

“Sunlight is the best disinfectant. The FTC must now extend the same investigation to group purchasing organizations (GPOs).

Free2Care will continue to focus on increasing transparency, removing perverse incentives, and creating change that leads to more competition.










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TRX price has clever money traps hidden in technical details https://blau-webkatalog.com/trx-price-has-clever-money-traps-hidden-in-technical-details/ Tue, 07 Jun 2022 00:05:33 +0000 https://blau-webkatalog.com/trx-price-has-clever-money-traps-hidden-in-technical-details/ Tron is hovering at $0.08 as breakout traders got trapped. The TRX price is showing significant selling pressure on the volume indicator. Invalidation of the bearish thesis is a breach above $10.77 The TRX price could set a smart money trap, as volume and technicals are not evenly correlated. TRX price seems too clean to […]]]>
  • Tron is hovering at $0.08 as breakout traders got trapped.
  • The TRX price is showing significant selling pressure on the volume indicator.
  • Invalidation of the bearish thesis is a breach above $10.77

The TRX price could set a smart money trap, as volume and technicals are not evenly correlated.

TRX price seems too clean to be true

Tron has gained popularity in the crypto market as the digital token has been one of the only cryptocurrencies to maintain its value over the past nine weeks. The technical data may hint at impending selling despite the unmistakable bullish display.

TRX price is currently trading at $0.08 as the price consolidates sideways after last week’s breakout failed. When analyzing the previous weekly candles, there is strong bearish pressure hovering above the $0.08 levels. Many traders can see the current price action winding up in a triangle shaped formation. Unfortunately, the wedge pattern can be a smart money trap, as bullish triangle consolidations usually occur with low volume. Thus, the TRX price may be setting up for a liquidity hunt towards the $0.06 price levels in the coming days.

TRX/USDT 2 week chart

The invalidation of the bearish thesis is a breach above $0.1077. If the bulls exceed this level, consider this thesis incorrect. The next likely target will be $0.12, which will lead to a 46% increase from the current TRX price.

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Multi-Family Industrial Real Estate Booming in Kelowna Despite Rising Mortgage Rates https://blau-webkatalog.com/multi-family-industrial-real-estate-booming-in-kelowna-despite-rising-mortgage-rates/ Sun, 05 Jun 2022 01:02:09 +0000 https://blau-webkatalog.com/multi-family-industrial-real-estate-booming-in-kelowna-despite-rising-mortgage-rates/ The demand for industrial space in Kelowna is extremely strong. (Rob Munro/iNFOnews.ca) The Bank of Canada made another big increase in its key interest earlier this week, the second in two months, and with that some believe the housing market will slow further from its record pace of the […]]]>




The demand for industrial space in Kelowna is extremely strong.

(Rob Munro/iNFOnews.ca)


The Bank of Canada made another big increase in its key interest earlier this week, the second in two months, and with that some believe the housing market will slow further from its record pace of the year. last.

The central bank raised the rate by half a percentage point to 1.5% on June 1, warning rates will need to rise further to contain inflation. The increase should have an impact on mortgage rates which, at more than 4%, are higher than they have been for more than a decade.


READ MORE: Bank of Canada raises policy rate by 0.5% amid stubbornly high inflation

Despite rising interest rates, Kelowna realtors are seeing customers line up.

“Industrial and multi-family asset classes remain extremely strong,” said MCL Property Group Director Kris McLaughlin. “Inventory levels continue to remain at historic lows. Prices per square foot are rising.

Raw industrial land is approaching the $3 million per acre mark.

“It’s not there yet but I anticipate it will come,” McLaughlin said.

It’s still shy of the $5 million per acre the Lower Mainland is approaching, but it’s seeing increased interest from industrial clients for lower-priced land in places like Edmonton and Calgary. Even other parts of the Okanagan don’t compete with Kelowna because cities like Penticton and Vernon are even more expensive than Alberta.


READ MORE: Study finds non-homeowners pessimistic about buying a home despite falling prices

Much of the demand is for businesses in areas like construction that need lots of storage space as well as a retail outlet.

“You have these guys from cabinets to floors to countertops,” McLaughlin said. “It becomes a bit of a cluster in the airport business park with these different types of uses, because you can walk in there and pay $17 to $18 a square foot for base rent.”

By comparison, similar light industrial sites on Baron, Banks, and Enterprise roads cost between $19 and $26.

When it comes to multi-family sites, there is a lot of interest in grouping several properties together.

McLaughlin expects more than 60 to 90 four- to six-story apartment buildings. This is especially the case near downtown Kelowna, but he is working on a few clusters of land in the Rutland neighborhood that could end up being this size.

He’s also working on a consolidation in Lake Country, even though they don’t have high-density multi-family zoning regulations yet.

“It’s likely that this project I’m working on will be one of the first high-density multi-acre residential applications Lake Country has seen,” he said.

As for retail, strip malls are not on the horizon as zoning regulations in Kelowna encourage mixed commercial and residential use.


READ MORE: Destination shopping districts are changing the face of retail in Kelowna and beyond

This means that new downtown skyscrapers feature commercial spaces on the ground floor with residences above. Interest in such a space is strongest in specific areas.

“Anytime you go to an area of ​​town that is in high demand for retail – take it downtown, along Bernard Avenue or, as we go along, along from Clement Avenue or the Pandosy Corridor, 1,000 square feet for retail is very hard to come by and there is a list of people sitting backstage and waiting for some of them to open,” said said McLaughlin.


— With files from The Canadian Press



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Letters to the Editor Friday, June 3 – The Daily Gazette https://blau-webkatalog.com/letters-to-the-editor-friday-june-3-the-daily-gazette/ Fri, 03 Jun 2022 08:04:33 +0000 https://blau-webkatalog.com/letters-to-the-editor-friday-june-3-the-daily-gazette/ Stefanik focused on the milk, not the dying childrenOf course, MP Elise Stefanik is against gun control; her husband works for the National Shooting Sports Foundation.Well, I guess money and whole milk are more important to her.The children of this country won’t need milk if they’re all dead, will they? Nineteen children from Uvalde will […]]]>

Stefanik focused on the milk, not the dying children

Of course, MP Elise Stefanik is against gun control; her husband works for the National Shooting Sports Foundation.
Well, I guess money and whole milk are more important to her.
The children of this country won’t need milk if they’re all dead, will they? Nineteen children from Uvalde will never have milk or anything else again.
Rita Smith
Schenectady

Scotia can’t afford fire station debt

Nobody likes being told they can’t afford something. We are all proud people.
But the truth about the proposed fire station project is that Scotia Village ratepayers can’t afford $13 million in debt.
1. This debt will have a significant impact on the sale value of your home. That’s $500 that a new buyer can’t use to pay principal and interest, reducing the amount they can borrow. We have the highest tax rate in the Capital District.
2. Nova Scotian politicians have no inclination to control spending in any of the larger departments. Despite a constant increase in the number of employees, overtime increases every year. I believe more staff will be hired to fill all the new empty space.
3. Scotia now provides paramedic coverage in Duanesburg and when this happens we send a rescue vehicle and two staff out of Scotia.
4. Poor village finances force politicians to “steal Peter to pay Paul” and necessary projects for streets, parks and water and sewer lines are therefore postponed because there is no silver.
5. Look at your last three years of Scotia tax bills and see the increases well above inflation that will only continue.
There are other alternatives to consider but no politician has offered serious discussions focused on mergers, consolidations or structural changes.
This project will not save a life. This will not improve the quality of life in the village.
Armon Benny
Scotland

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Readers who violate the policy will be warned and then banned.

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Categories: Letters to the Editor, Opinion

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Vermont modernizes captive insurance laws https://blau-webkatalog.com/vermont-modernizes-captive-insurance-laws/ Wed, 01 Jun 2022 08:21:20 +0000 https://blau-webkatalog.com/vermont-modernizes-captive-insurance-laws/ Vermont Governor Phil Scott signed into law new legislation modernizing Vermont’s captive insurance statutes and removing inconsistencies. This year’s bill, H.515, proposed several updates to Vermont’s captive insurance law, including allowing captive insurance companies to enter into parametric risk transfer contracts, simplifying reporting requirements, improved solvency procedures for sponsored cellular captives and clarified an inconsistency […]]]>

Vermont Governor Phil Scott signed into law new legislation modernizing Vermont’s captive insurance statutes and removing inconsistencies.

This year’s bill, H.515, proposed several updates to Vermont’s captive insurance law, including allowing captive insurance companies to enter into parametric risk transfer contracts, simplifying reporting requirements, improved solvency procedures for sponsored cellular captives and clarified an inconsistency related to the treatment of affiliated companies in sponsored cellular companies.

“Vermont is always looking to improve its laws to better meet the needs of captive insurance companies, while improving the quality of our regulations,” Scott said. “This year is a great example of that.”

The Captives Bill this year included the passage of specific legislation that would allow captive insurance companies to enter into parametric risk transfer contracts. Parametric risk transfer contracts are becoming commonplace as another form of protection against catastrophic events. A parametric contract pays out a certain sum upon the occurrence of certain quantifiable events (for example, a hurricane of a specific category hitting a specific area), whether or not the contract holder suffers a loss. In contrast, an insurance contract pays an amount upon the occurrence of the same or similar events, but the policyholder must sustain and prove a loss, and the amount is subject to adjustment.

“While purely parametric contracts are not considered insurance largely because of this distinction, the contract is a useful risk management tool,” said Deputy Commissioner David Provost of the Department of Financial Regulation, “and there are safe harbor features that can be built into the contract to qualify it as insurance. Organizations often use captives as a central repository for all types of risk management tools, not just insurance, so it will be useful for companies to have explicit authority for their captive to enter into parametric contracts.

“Vermont continues to take ideas from the industry and really consider those ideas,” said Kevin Mead, president of the Vermont Captive Insurance Association. “I’m glad we were able to work together to make it easier for captives to use another risk management tool.”

Additional changes include simplification of reporting requirements, improved delay procedures and language consistency for the treatment of affiliated businesses in cells and consolidations.

“These small changes, when added up year after year, make a huge difference to captive insurance companies,” said Brittany Nevins, business development manager for captive insurance. “Vermont continues to be proactive and ask itself, ‘what can we do to be better?’ It’s at the heart of our industrial culture in our state.

Among the changes to the law are:

  • Simplified reports; this removes the requirement for tax year filers to complete a special calendar year report and now requires a simpler report for premium tax reconciliation on an accrual basis. About 15% of Vermont captives file on a fiscal year basis.
  • Delinquency procedures; improves delinquency procedures when a sponsored cell company or individual cell becomes insolvent. The change allows the DFR to deal effectively with the affected cell without affecting solvent cells or limiting current authority.
  • Treatment of affiliated companies in bells; this removes inconsistencies in current law, making it clear that cells may insure the risks of one or more participants or, subject to the approval of the commissioner, other parties unaffiliated with the participants.
  • groupings; this removes “consolidations” from 6006a, which is supposed to deal with captive mergers only, not consolidations.
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New capital rules could spell the end of a rural bank https://blau-webkatalog.com/new-capital-rules-could-spell-the-end-of-a-rural-bank/ Mon, 30 May 2022 16:05:59 +0000 https://blau-webkatalog.com/new-capital-rules-could-spell-the-end-of-a-rural-bank/ RAWPIXEL.COM-FREEPIK AS THE PHILIPPINES begin to recover from the pandemic-induced recession, the Bangko Sentral ng Pilipinas (BSP) plans to raise the minimum capital requirements of rural banks in a bid to strengthen and improve the capacity of these small lenders, which could sound the death knell for some of them. In a circular project, the […]]]>
RAWPIXEL.COM-FREEPIK

AS THE PHILIPPINES begin to recover from the pandemic-induced recession, the Bangko Sentral ng Pilipinas (BSP) plans to raise the minimum capital requirements of rural banks in a bid to strengthen and improve the capacity of these small lenders, which could sound the death knell for some of them.

In a circular project, the central bank sought to raise minimum capital requirements for rural banks from 60 million pesos (head offices and banks with less than five branches) to 200 million pesos (more than five branches). This excludes branch-lite units from lenders.

Under current regulations, rural banks and cooperatives must have a minimum capitalization of 10 to 200 million pesos depending on location and number of branches.

The planned capital requirement adjustment for small banks is part of the initiatives the program to strengthen rural banks (RBSP), which was approved by the Monetary Board on March 3.

The RBSP was developed to improve the operations, capacity and competitiveness of rural banks. It is made up of four key elements: strengthened financial base; holistic menu of Ffive time-limited tracks, all aimed at ensuring that rural banks that continue to operate have sufficient capital to sustain their operations and effectively comply with regulatory expectations; incentives and capacity building interventions to promote successful enterprises; and reviewing and improving existing regulations to ensure consistency of strategic approach and direction.

As part of the strengthened capital base, the central bank created Iffive tracks under the program that would encourage the promotion of a strong capital base for banks. These Iffive tracks were merger/consolidation; acquisition/third party investment; voluntary license exit/upgrade; capitalization program; and supervisory intervention.

In addition, this program aims to address the challenges faced by rural banks in terms of improving their risk management systems; resource upgrading and operational cost management; adhere to prudent standards; and accelerating digital transformation, among others.

INCLUSION INTERRUPTED?
With the main objective of meeting credit needs and offeringffaffordable Ifnancial services to the rural population of farmers, Iffishermen and traders, the new minimum capital requirement would force rural banks to close their doors.

This decision by the regulators will delay the Ifnancial inclusion initiatives in rural areas, said Philippine Rural Bankers Association President Albert T. Concha, Jr.

“We find the proposed amounts too high given the BSP concerns that the capital increase seeks to address…The increase should be aligned with the needs and realities of each rural bank,” Mr. Concha said in an email interview.

Concha said raising the minimum capitalization of rural banks should not be generalized, but should take into account market availability, the local economy and the operational requirements of each lender.

“A look at the annual local GDP per capita (gross domestic product) from 2019 to 2021 shows that an increase in the requirement to 60 million pesos and 200 million pesos is unjustified because local economic activity cannot sustain said capital and the market to lend to simply does. does not exist,” he said.

The current RBSP is “better” than previous bolstering programs in the past, except for the proposed hike in the minimum capitalization requirement, Mr Concha said.

Furthermore, he expressed concern about the timeframe given to them to comply with the amended minimum requirement, noting that “rural banks are still recovering from the losses of the pandemic and the proposed three-year timeframe is too short to work on capital accumulation of this amount.

For her part, Chief Operating Officer of Guagua Rural Bank, Inc., Elizabeth C. Timbol, said it would be wise for the BSP to extend the compliance period to 10 years to give rural banks enough time to raise a significant amount in order to comply with the new minimum capital. .

“Because if small banks become big, they will surely supply larger markets and the unbanked market will no longer be reached and will then remain unbanked,” Ms Timbol said in an email.

The rural banks have a period of three years from the date of entry into force of the draft circular.ffability to meet revised minimum capital requirements.

There was 15.90 million rural bank depositors at the end of March with a total of 16.23 million accounts, according to central bank data. The bulk of them – around 13.91 million – have account values ​​amounting to P5,000 and below.

“With account values ​​falling below P5,000 per depositor and the limited number of depositors available per community, we highly doubt that commercial or savings banks would be interested in opening and operating branches where rural banks single unit have decided to close up shop,” says Concha.

“This will set back financial inclusion initiatives in the countryside,” he said.

Earlier this year, PASB launched a six-year program IfFinancial Inclusion Plan which aims to include unbanked adult Filipinos who belong to small businesses and agricultural sectors. The National Financial Inclusion Strategy 2022-2028 is an update of a similar plan in 2015. The central bank plans to onboard 70% of unbanked Filipinos by 2023.

In particular, Mrs. Timbol praised the program which aimed to strengthen the resilience of rural banks in the countryside.

“The rural banking sector has always been resilient, especially during difficult times, and we remain relevant in the respective communities we serve. Together with BSP’s RBSP, it aims to provide strategic and policy direction in the development of a sustainable capacity building program for the RB (rural banking) industry. Our mandate to help develop the campaign and literacy of all Filipinos is close to our hearts,” Ms. Timbol said.

In terms of the evolution of digitization effBut rural banks, according to Mr. Concha, some rural banks have embraced online mobile banking and the national retail payment system – a policy and regulatory framework that aims to provide guidance in carrying out retail payment activities. through the supervised BSP. Iffinancial institutions (BSFI).

Meanwhile, a large number of rural banks have adapted the technology in their back ofIfthis, modifying its core banking systems, digitizing records and accelerating its internet connectivity.

“We continue to support micro, small and medium enterprises (MSMEs), farmers and Ifsherfolk, and with rural banks going digital, we are engaging local government units in disbursing and collecting payments through our digital platforms. We continue to be strong partners with the government in promoting Iffinancial inclusion even in remote rural areas,” Ms. Timbol said.

IMMINENT CLOSURES
However, Mr Concha expressed a gloomy outlook with the capital requirement amendment, citing possible closures of several rural banks in the countryside.

“With the RBSP and the increased requirement for registered capital, if implemented in its current form of 60 million pesos, we anticipate that many single unit RBs will voluntarily give up their licenses and severely cripple access banking and credit services in the countryside,” he said.

Since the start of the pandemic, the BSP has closed a total of 21 rural banks while two rural banks have voluntarily given up their banking licenses. In the meantime, the regulator has processed 18 mergers, consolidations and acquisitions transactions, nine of which involved rural banks.

In addition, a total of 30 rural banks were merged and consolidated under its previous program, the Consolidation of Rural Banks Program (CPRB). Of the 30 rural banks, 16 were taken over by threeft banks while the others were merged with other rural banks.

Amid the challenges facing rural banks, Ms. Timbol expects the rural banking sector to be safer and stronger. However, she believes that the new minimum capitalization requirement should not be the priority at a time when the local economy is still recovering from the impact of the global pandemic.

“The rural banking sector will certainly be more stable and will continue to be a strong partner of the government in promoting growth and development in the countryside. With the help of BSP, rural banks are poised to reach greater heights by bringing credit to the underbanked and developing entrepreneurial activities in the countryside,” she said.

“However, now is not the best time to impose a capitalization increase as everyone recovers from the pandemic, as many RBs, especially in remote areas, need to focus on development aid. campaigns,” Ms Timbol said. — Mariedel Irish U. Catilogo

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China and US interests could clash as Beijing seeks food security https://blau-webkatalog.com/china-and-us-interests-could-clash-as-beijing-seeks-food-security/ Sat, 28 May 2022 01:42:00 +0000 https://blau-webkatalog.com/china-and-us-interests-could-clash-as-beijing-seeks-food-security/ NNA | Updated: May 28, 2022 07:12 STI Washington [US]May 28 (ANI): China’s push to address its food security challenges could put the United States, as the world’s top agricultural producer, on the way to Beijing, according to an independent US government agency.The report released by the US-China Economic and Security Review Commission (USCC) examines […]]]>



NNA |
Updated:
May 28, 2022 07:12 STI

Washington [US]May 28 (ANI): China’s push to address its food security challenges could put the United States, as the world’s top agricultural producer, on the way to Beijing, according to an independent US government agency.
The report released by the US-China Economic and Security Review Commission (USCC) examines China’s food security challenges and how these vulnerabilities are driving interest in US-China agricultural relations.
According to the USCC, China’s efforts to bolster its agricultural sector and food security, sometimes through illicit means, could prove to be a risk to the economic and national security of the United States.
In 2021, China imported more than 30 million metric tons of corn, used primarily for animal feed, from the United States, a substantial increase from less than 5 million metric tons of corn in 2019.
But as demands increase for its agricultural production, China will meet this challenge through policies, technologies and economic activities.
“For example, the acquisition of pig herds by Chinese companies in the United States could save China money and improve its domestic capacity; however, it could also reduce China’s need for production of American origin and redistribute the environmental effects of

pork waste to American communities,” the USCC report said.
“If further Chinese consolidation and investment in US agricultural assets takes place, China could have excessive leverage in US supply chains. China’s access to US agricultural intellectual property could also erode the American competitiveness in agricultural technologies that support food production,” he added.
According to the report, China’s illicit acquisitions of GM seeds are boosting China’s development of these seeds, depriving US companies of revenue and providing an opportunity to uncover vulnerabilities in US crops.
This report also examines China’s food security challenges and how these vulnerabilities are driving interest in U.S.-China agricultural relations.
“Specifically, it assesses the motivations behind China’s agricultural investments, including food production challenges and relevant CCP efforts to reduce import dependence, conserve farmland, and upgrade agricultural technologies. It then examines major areas of Chinese investment in the United States, including land, livestock, grain, and relevant infrastructure, such as agricultural equipment and technology,” the report said.
Finally, the report presents considerations for lawmakers regarding further Chinese integration into U.S. agriculture.
sector. (ANI)

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