Swiss Re

Armonk, NY, United States
Armonk, NY, United States
SEARCH FILTERS
Time filter
Source Type

censhare is already recognised by industry analysts as a significant vendor in the European software market, having gained an great portfolio of clients, that includes Ikea, Deutsche Bank, Jaguar, McDonald's, Swiss Re, Deutsche Post, Rewe, Migros, GoPro and Kohl's. Based on innovative semantic technology, censhare is becoming considered the 'go to' vendor for efficiently delivering relevant, multi-channel, multi-language customer experiences with its no-silo content platform. DuMont Media Group is committed to investing in innovative digital technologies, having recently taken over 75 percent of Facelift brand building technologies GmbH, one of the leading providers of social media marketing software in Europe. The growth investment by DuMont represents a significant move for censhare in this market, funding an aggressive expansion of its global sales, marketing and support capability (specifically in North America and Asia Pacific) as well as an increased investment in Research and Development. "This is an exciting opportunity for us and our clients, working with our new investment partner," explains Dieter Reichert, CEO, censhare. "Having grown the company organically to 200 people across half a dozen countries on two continents, this was a carefully considered next step in our company's growth." Dr. Christoph Bauer, CEO DuMont Media Group: "Following our engagement with Facelift, the investment in censhare now represents another important step for the expansion of our digital business. With it, DuMont is an attractive provider of Marketing Cloud Services." The shareholding is subject to the approval of the German antitrust authorities. censhare, with around 200 employees, has offices in the UK, USA, France, the Netherlands, Switzerland and India. More than 180 customers in Europe and the USA include Ikea, Deutsche Bank, Jaguar, McDonald's, Swiss Re, Deutsche Post, Rewe, Migros, GoPro and Kohl's retailer in the USA. Since being founded in 2001, censhare has been on a mission to build software that enables its clients to engage with today's multi-channel, global, content consumer. Whether the challenge is managing digital assets, product information, marketing resources or web content; censhare has enabled its clients to achieve this goal. The key has been censhares differentiated technology and approach; a no-silo content platform, that organisations are using to create a central, universal, smart content cloud to efficiently deliver consistent, multi-lingual, relevant and engaging communications across multiple channels. The German media brands Mitteldeutsche Zeitung, Kölner Stadt-Anzeiger, Kölnische Rundschau, the Berliner Zeitung, the EXPRESS, the Berliner Kurier and the Hamburger Morgenpost are part of the DuMont media group with its three business segments regional media, business information and digital. Apart from regional advertisements, the DuMont publishing house as well as local radio and TV stations are also included. In addition to censhare and Facelift, the European market leader for social media marketing software, DuMont is also involved in the venture capital funds Capnamic through young, rapidly growing companies.


LOC Korea will provide MWS services for the test phase of the Southwest Offshore Windfarm Project, being built by Korea Offshore Wind Power SEOUL, South Korea, 24-May-2017 — /EuropaWire/ — Leading international marine and engineering consultancy LOC Group has been retained by Korea Offshore Wind Power (KOWP) and Swiss Re to carry out marine warranty surveying (MWS) services on the 60MW test phase of Korea’s Southwest Offshore Windfarm Project. LOC’s contract for services will run from the second quarter of 2017 until early 2019. The project, which will include twenty 3MW wind turbines from Korean manufacturer Doosan, and an offshore high voltage substation, is being built by KOWP, a subsidiary of Korean utility KEPCO. Furthermore, the scheme will provide an R&D opportunity for the construction team, with the installation of two different foundation types for comparison. A combination of suction bucket type foundations (developed by KEPRI) and a Warren Truss type four leg jacket (developed by POSCO, a multinational steel-marker headquartered in Pohang) will be used on the site. Commenting on the agreement Zhoongkeun Kim, Country Manager at LOC Korea, said: “The Southwest Offshore Windfarm Project shows Korea’s strong commitment to engineering and technical expertise in offshore wind development.” “Our marine warranty survey on behalf of Swiss Re will ensure the construction of the its test phase meets the highest technical and international standards for offshore engineering.” As part of the international LOC Group, which has extensive offshore wind experience all over the world, LOC Korea has provided MWS to Korea’s first offshore wind farm, the 30MW Tamra project off the southern island of Jeju, which began producing power in September 2016. “LOC Korea were an ideal choice to provide MWS for KOWP. Their local team combine strong technical expertise with an understanding of local market needs, backed by extensive international experience,” said HyunTae Cho, Senior Engineering Underwriter at Swiss Re. RV Ahilan, Group Director, Renewables Advisory & Energy Technology at LOC Group added, “LOC Korea’s win on this important project further adds to the Group’s global experience and expertise in offshore wind engineering consultancy.” Outside of Asia, the LOC Renewables team have provided engineering services to more than two thirds of offshore wind farms in Europe, and to a growing number of projects in North America.


News Article | May 26, 2017
Site: globenewswire.com

ATLANTA, May 26, 2017 (GLOBE NEWSWIRE) -- Sharecare, the award-winning digital health company founded by industry pioneer Jeff Arnold and Dr. Mehmet Oz, today announced that it has received an investment from global alternative investment firm, Summit Partners. Sharecare will use the debt capital to fund new capabilities and acquire talent to support the aggressive growth trajectory of both the company and its platform, where people can manage all their health in one place. “With 11 acquisitions in six years, we have been thoughtful and opportunistic in scaling our rapid growth while adapting to changing market dynamics and needs – and we couldn’t have done that without the support of our incredible investors,” said Justin Ferrero, president of Sharecare. “With this latest investment, we are ideally positioned to pursue the opportunities and acquisitions that will fuel the next phase of Sharecare’s growth.” Founded in 2010, Sharecare’s comprehensive platform leverages the power and ubiquity of the smartphone to provide people with access to the care they need, when they need it. Whether someone’s path to Sharecare originates as an employee, health plan member, patient, self-motivated individual or caregiver, the Sharecare platform simultaneously focuses on an individual’s holistic health needs to drive meaningful daily engagement, while aggregating a critical mass of behavioral data. Artificial intelligence is applied to that data in real-time to more accurately personalize recommendations, and predict and influence positive outcomes for each individual, which enables anyone to simplify, engage with and manage their health, all in one place. The reach of Sharecare’s investors extends from the living room to doctors’ exam rooms and into the workplace, alike. Including the debt capital raised in this most recent round, Sharecare’s strategic investors include hospitals, health care investment firms and health plans, in particular, HCA (NYSE:HCA), Trinity Health, the Heritage Healthcare Innovation Fund and Hawai‘i Medical Service Association (HMSA); media companies Discovery Communications, Harpo Productions and Sony Pictures Television; high growth technology investment firms such as Claritas Capital; noted crossover fund Wellington Management; Wells Fargo; and Swiss Re, one of the world’s largest reinsurance providers. In 2017 alone, Sharecare has raised more than $100 million in new funding; and more than $300 million in total capital since its founding in 2010. About Sharecare Sharecare is the digital health company that helps people manage all their health in one place. The Sharecare platform provides each person – no matter where they are in their health journey – with a comprehensive and personalized health profile, where they can dynamically and easily connect to the information, evidence-based programs and health professionals they need to live their healthiest, happiest and most productive life. With award-winning and innovative frictionless technologies, scientifically validated clinical protocols and best-in-class coaching tools, Sharecare helps providers, employers and health plans effectively scale outcomes-based health and wellness solutions across their entire populations. To learn more, visit www.sharecare.com.


censhare is already recognised by industry analysts as a significant vendor in the European software market, having gained an great portfolio of clients, that includes Ikea, Deutsche Bank, Jaguar, McDonald's, Swiss Re, Deutsche Post, Rewe, Migros, GoPro and Kohl's. Based on innovative semantic technology, censhare is becoming considered the 'go to' vendor for efficiently delivering relevant, multi-channel, multi-language customer experiences with its no-silo content platform. DuMont Media Group is committed to investing in innovative digital technologies, having recently taken over 75 percent of Facelift brand building technologies GmbH, one of the leading providers of social media marketing software in Europe. The growth investment by DuMont represents a significant move for censhare in this market, funding an aggressive expansion of its global sales, marketing and support capability (specifically in North America and Asia Pacific) as well as an increased investment in Research and Development. "This is an exciting opportunity for us and our clients, working with our new investment partner," explains Dieter Reichert, CEO, censhare. "Having grown the company organically to 200 people across half a dozen countries on two continents, this was a carefully considered next step in our company's growth." Dr. Christoph Bauer, CEO DuMont Media Group: "Following our engagement with Facelift, the investment in censhare now represents another important step for the expansion of our digital business. With it, DuMont is an attractive provider of Marketing Cloud Services." The shareholding is subject to the approval of the German antitrust authorities. censhare, with around 200 employees, has offices in the UK, USA, France, the Netherlands, Switzerland and India. More than 180 customers in Europe and the USA include Ikea, Deutsche Bank, Jaguar, McDonald's, Swiss Re, Deutsche Post, Rewe, Migros, GoPro and Kohl's retailer in the USA. Since being founded in 2001, censhare has been on a mission to build software that enables its clients to engage with today's multi-channel, global, content consumer. Whether the challenge is managing digital assets, product information, marketing resources or web content; censhare has enabled its clients to achieve this goal. The key has been censhares differentiated technology and approach; a no-silo content platform, that organisations are using to create a central, universal, smart content cloud to efficiently deliver consistent, multi-lingual, relevant and engaging communications across multiple channels. The German media brands Mitteldeutsche Zeitung, Kölner Stadt-Anzeiger, Kölnische Rundschau, the Berliner Zeitung, the EXPRESS, the Berliner Kurier and the Hamburger Morgenpost are part of the DuMont media group with its three business segments regional media, business information and digital. Apart from regional advertisements, the DuMont publishing house as well as local radio and TV stations are also included. In addition to censhare and Facelift, the European market leader for social media marketing software, DuMont is also involved in the venture capital funds Capnamic through young, rapidly growing companies.


News Article | May 26, 2017
Site: globenewswire.com

ATLANTA, May 26, 2017 (GLOBE NEWSWIRE) -- Sharecare, the award-winning digital health company founded by industry pioneer Jeff Arnold and Dr. Mehmet Oz, today announced that it has received an investment from global alternative investment firm, Summit Partners. Sharecare will use the debt capital to fund new capabilities and acquire talent to support the aggressive growth trajectory of both the company and its platform, where people can manage all their health in one place. “With 11 acquisitions in six years, we have been thoughtful and opportunistic in scaling our rapid growth while adapting to changing market dynamics and needs – and we couldn’t have done that without the support of our incredible investors,” said Justin Ferrero, president of Sharecare. “With this latest investment, we are ideally positioned to pursue the opportunities and acquisitions that will fuel the next phase of Sharecare’s growth.” Founded in 2010, Sharecare’s comprehensive platform leverages the power and ubiquity of the smartphone to provide people with access to the care they need, when they need it. Whether someone’s path to Sharecare originates as an employee, health plan member, patient, self-motivated individual or caregiver, the Sharecare platform simultaneously focuses on an individual’s holistic health needs to drive meaningful daily engagement, while aggregating a critical mass of behavioral data. Artificial intelligence is applied to that data in real-time to more accurately personalize recommendations, and predict and influence positive outcomes for each individual, which enables anyone to simplify, engage with and manage their health, all in one place. The reach of Sharecare’s investors extends from the living room to doctors’ exam rooms and into the workplace, alike. Including the debt capital raised in this most recent round, Sharecare’s strategic investors include hospitals, health care investment firms and health plans, in particular, HCA (NYSE:HCA), Trinity Health, the Heritage Healthcare Innovation Fund and Hawai‘i Medical Service Association (HMSA); media companies Discovery Communications, Harpo Productions and Sony Pictures Television; high growth technology investment firms such as Claritas Capital; noted crossover fund Wellington Management; Wells Fargo; and Swiss Re, one of the world’s largest reinsurance providers. In 2017 alone, Sharecare has raised more than $100 million in new funding; and more than $300 million in total capital since its founding in 2010. About Sharecare Sharecare is the digital health company that helps people manage all their health in one place. The Sharecare platform provides each person – no matter where they are in their health journey – with a comprehensive and personalized health profile, where they can dynamically and easily connect to the information, evidence-based programs and health professionals they need to live their healthiest, happiest and most productive life. With award-winning and innovative frictionless technologies, scientifically validated clinical protocols and best-in-class coaching tools, Sharecare helps providers, employers and health plans effectively scale outcomes-based health and wellness solutions across their entire populations. To learn more, visit www.sharecare.com.


News Article | May 26, 2017
Site: globenewswire.com

ATLANTA, May 26, 2017 (GLOBE NEWSWIRE) -- Sharecare, the award-winning digital health company founded by industry pioneer Jeff Arnold and Dr. Mehmet Oz, today announced that it has received an investment from global alternative investment firm, Summit Partners. Sharecare will use the debt capital to fund new capabilities and acquire talent to support the aggressive growth trajectory of both the company and its platform, where people can manage all their health in one place. “With 11 acquisitions in six years, we have been thoughtful and opportunistic in scaling our rapid growth while adapting to changing market dynamics and needs – and we couldn’t have done that without the support of our incredible investors,” said Justin Ferrero, president of Sharecare. “With this latest investment, we are ideally positioned to pursue the opportunities and acquisitions that will fuel the next phase of Sharecare’s growth.” Founded in 2010, Sharecare’s comprehensive platform leverages the power and ubiquity of the smartphone to provide people with access to the care they need, when they need it. Whether someone’s path to Sharecare originates as an employee, health plan member, patient, self-motivated individual or caregiver, the Sharecare platform simultaneously focuses on an individual’s holistic health needs to drive meaningful daily engagement, while aggregating a critical mass of behavioral data. Artificial intelligence is applied to that data in real-time to more accurately personalize recommendations, and predict and influence positive outcomes for each individual, which enables anyone to simplify, engage with and manage their health, all in one place. The reach of Sharecare’s investors extends from the living room to doctors’ exam rooms and into the workplace, alike. Including the debt capital raised in this most recent round, Sharecare’s strategic investors include hospitals, health care investment firms and health plans, in particular, HCA (NYSE:HCA), Trinity Health, the Heritage Healthcare Innovation Fund and Hawai‘i Medical Service Association (HMSA); media companies Discovery Communications, Harpo Productions and Sony Pictures Television; high growth technology investment firms such as Claritas Capital; noted crossover fund Wellington Management; Wells Fargo; and Swiss Re, one of the world’s largest reinsurance providers. In 2017 alone, Sharecare has raised more than $100 million in new funding; and more than $300 million in total capital since its founding in 2010. About Sharecare Sharecare is the digital health company that helps people manage all their health in one place. The Sharecare platform provides each person – no matter where they are in their health journey – with a comprehensive and personalized health profile, where they can dynamically and easily connect to the information, evidence-based programs and health professionals they need to live their healthiest, happiest and most productive life. With award-winning and innovative frictionless technologies, scientifically validated clinical protocols and best-in-class coaching tools, Sharecare helps providers, employers and health plans effectively scale outcomes-based health and wellness solutions across their entire populations. To learn more, visit www.sharecare.com.


News Article | May 26, 2017
Site: globenewswire.com

ATLANTA, May 26, 2017 (GLOBE NEWSWIRE) -- Sharecare, the award-winning digital health company founded by industry pioneer Jeff Arnold and Dr. Mehmet Oz, today announced that it has received an investment from global alternative investment firm, Summit Partners. Sharecare will use the debt capital to fund new capabilities and acquire talent to support the aggressive growth trajectory of both the company and its platform, where people can manage all their health in one place. “With 11 acquisitions in six years, we have been thoughtful and opportunistic in scaling our rapid growth while adapting to changing market dynamics and needs – and we couldn’t have done that without the support of our incredible investors,” said Justin Ferrero, president of Sharecare. “With this latest investment, we are ideally positioned to pursue the opportunities and acquisitions that will fuel the next phase of Sharecare’s growth.” Founded in 2010, Sharecare’s comprehensive platform leverages the power and ubiquity of the smartphone to provide people with access to the care they need, when they need it. Whether someone’s path to Sharecare originates as an employee, health plan member, patient, self-motivated individual or caregiver, the Sharecare platform simultaneously focuses on an individual’s holistic health needs to drive meaningful daily engagement, while aggregating a critical mass of behavioral data. Artificial intelligence is applied to that data in real-time to more accurately personalize recommendations, and predict and influence positive outcomes for each individual, which enables anyone to simplify, engage with and manage their health, all in one place. The reach of Sharecare’s investors extends from the living room to doctors’ exam rooms and into the workplace, alike. Including the debt capital raised in this most recent round, Sharecare’s strategic investors include hospitals, health care investment firms and health plans, in particular, HCA (NYSE:HCA), Trinity Health, the Heritage Healthcare Innovation Fund and Hawai‘i Medical Service Association (HMSA); media companies Discovery Communications, Harpo Productions and Sony Pictures Television; high growth technology investment firms such as Claritas Capital; noted crossover fund Wellington Management; Wells Fargo; and Swiss Re, one of the world’s largest reinsurance providers. In 2017 alone, Sharecare has raised more than $100 million in new funding; and more than $300 million in total capital since its founding in 2010. About Sharecare Sharecare is the digital health company that helps people manage all their health in one place. The Sharecare platform provides each person – no matter where they are in their health journey – with a comprehensive and personalized health profile, where they can dynamically and easily connect to the information, evidence-based programs and health professionals they need to live their healthiest, happiest and most productive life. With award-winning and innovative frictionless technologies, scientifically validated clinical protocols and best-in-class coaching tools, Sharecare helps providers, employers and health plans effectively scale outcomes-based health and wellness solutions across their entire populations. To learn more, visit www.sharecare.com.


News Article | May 9, 2017
Site: www.businesswire.com

ORLANDO, Fla.--(BUSINESS WIRE)--KNOWLEDGE 17 -- ServiceNow (NYSE: NOW) announces machine learning capabilities to tackle some of the biggest problems in IT today. With ServiceNow Intelligent Automation Engine, companies can now prevent outages before they happen, automatically categorize and route incidents, benchmark performance against IT peers and predict future performance. Capabilities will also bring machine learning to ServiceNow cloud services for Customer Service, Security and Human Resources (HR). Most companies today want to innovate and drive transformation, but find they are bogged down by tools, processes and work patterns of the past. The volume of back and forth work across every department for common tasks like resetting of passwords or onboarding new employees is straining the system. By 2020, 86% of companies say they will need greater automation to get their work done. Artificial Intelligence and machine learning provide a way out, but until today, those have been buzzword techniques or technologies looking for a use case. The ServiceNow Intelligent Automation Engine applies machine learning to four of the biggest use cases that IT has today. ServiceNow has taken the combination of massive amounts of contextual operational data, huge R&D investments, and a team of leading data scientists, to address four big challenges for today’s IT organizations - preventing outages, automatically categorizing and routing work, predicting future performance and benchmarking performance against their peers. “Intelligent automation heralds a new era in workplace productivity,” said Dave Wright, chief strategy officer, ServiceNow. “With this game changing innovation, we have embedded intelligence across our Platform. Trained with each customer’s own data, ServiceNow is enabling customers to achieve a quantum leap in the speed and economics of their business.” Here are the innovations launched today: The Intelligent Automation Engine is part of the Now Platform™, which powers cloud services to speed and automate work for IT, Security, HR, Customer Service and custom applications for any department. As the platform evolves, all departments and applications will benefit from intelligent automation. By automating both routine and complex processes and predicting outcomes, every organization can dramatically reduce costs, speed time-to-resolution and deliver consumer-like experiences for employees, partners and customers. ServiceNow customers are particularly well positioned to take advantage of machine learning. The power of the Intelligent Automation Engine is virtually unlimited as it is applied to more and more domains inside and outside their enterprise. Today, ServiceNow is delivering on the promise of intelligent automation by delivering real customer outcomes, tailored to each customer and their own cloud instance. Reinsurance industry leader Swiss Re uses ServiceNow for its ContactOne service offering to provide end-to-end capabilities for HR, logistics, IT, legal and other corporate functions. The company has injected intelligent automation into those services to provide an improved customer experience. “As work and change accelerate, so does our comprehensive digital IT strategy,” said Ashish Agarwal, director of Information Technology, Swiss Re. “Adding intelligent automation is important in our transformation to achieve high customer satisfaction but also increased end-to-end productivity.” Intelligent Automation Engine-enabled products will be available in the third quarter of 2017. Your enterprise needs to move faster, but lack of process and legacy tools hold you back. Every day, thousands of customer requests, IT incidents, and HR cases follow their own paths—moving back and forth between people, machines and departments. Unstructured. Undocumented. Unimproved for years. With the ServiceNow® System of Action™ you can replace these unstructured work patterns of the past with intelligent workflows of the future. Now every employee, customer and machine can make requests on a single cloud platform. Every department working on these requests can assign and prioritize, collaborate, get down to root cause issues, gain real-time insights and drive to action. Your employees are energized. Your service levels improve. And you realize game-changing economics. Work at Lightspeed™. To find out how, visit www.servicenow.com. © 2017 ServiceNow, Inc. All rights reserved. ServiceNow, the ServiceNow logo, and other ServiceNow marks are trademarks and/or registered trademarks of ServiceNow, Inc., in the United States and/or other countries. Other company and product names may be trademarks of the respective companies with which they are associated.


News Article | May 11, 2017
Site: www.businesswire.com

KINGSTON, N.Y.--(BUSINESS WIRE)--Kingstone Companies, Inc. (Nasdaq:KINS) (the “Company” or “Kingstone”), a multi-line property and casualty insurance holding company, today announced its financial results for the quarter ended March 31, 2017 Quarterly Dividend of $0.08 per share The Company announced that its Board of Directors declared an increased quarterly dividend of $0.08 per share payable on June 15, 2017 to stockholders of record at the close of business on May 31, 2017. This is our 24th consecutive quarterly dividend. The Company also announced that the 2017 Annual Meeting of Stockholders will be held on Wednesday, August 9, 2017 at 9:00 A.M. at 15 Joys Lane, Kingston, New York. Stockholders of record as of the close of business on June 14, 2017 will be entitled to vote at the Annual Meeting. Kingstone’s Chairman and CEO, Barry Goldstein, commented “There are three things I would like to point out. First, we successfully completed our second follow-on offering in February, delivering the Company an additional $30 million in capital. Second, following the equity raise, we negotiated, with the assistance of Aon Benfield, a new two year Personal Lines Quota Share treaty extending our already twelve year relationship with our quota share reinsurers, Maiden Re and Swiss Re. With the contribution of $23,000,000 to our subsidiary, Kingstone Insurance Company (“KICO”), we were thrilled to be able to reduce the percentage ceded by half-from 40% to 20%. Third, with those two items in place, A.M. Best upgraded KICO’s Financial Strength Rating to “A- Excellent.” This took place on the 131st anniversary of the founding of KICO. A collaboration between lawyers, CPAs, bankers, analysts and many others with so many different skills resulted in our achieving a status in the marketplace sought by us since the demutualization of 2009. I thank all of those involved and look forward to the enhanced and increased opportunities that await us as an A-rated carrier.” Kingstone’s EVP and Chief Actuary, Ben Walden, elaborated on underwriting results for the quarter. “After three straight unusually harsh winter seasons in New York, we were fortunate to experience relatively mild weather this first quarter. From a profitability perspective, the first quarter is typically the most challenging of the year for Kingstone due to the combined impact of winter weather and larger fire claims. However, on both these fronts, results were better than expected this quarter. Excluding the impact of winter weather, claim frequency continued to improve year over year in personal lines. The impact of large fires on the personal lines loss ratio was also greatly reduced in first quarter 2017 relative to the prior year period, leading to a strong improvement in our core loss ratio. Our net combined ratio of 85.2% for the quarter is more than ten points better than our result for the first quarters for each of the last three years and is a great start to what we hope will be another record year for Kingstone. As we continue to post excellent underwriting results, our double digit New York growth rate continues in line with recent quarters. In the first quarter we also introduced New York’s first voluntary flood endorsement, which can now be attached to qualifying Kingstone homeowners policies. Starting in the second quarter, we will begin supplementing our New York growth with business generated from our state expansion plan, beginning with our newly approved homeowners product in New Jersey and then moving on to Rhode Island and Connecticut. The innovative enhancements built into our new product, along with our elite status as an A.M. Best A- rated carrier, should differentiate us from others seeking the cheapest way to deliver their products to new markets. Our newly achieved A.M. Best rating also opens up many additional avenues for growth which we anticipate capitalizing on in the coming months.” Mr. Walden noted, “Our core net loss ratio excluding severe winter weather and prior year loss development improved 7.8 points from 58.5% to 50.7% in first quarter 2017 as compared to first quarter 2016. The improvement was driven by a reduction in both claim frequency and average claims severity in our personal lines business. In addition, prior year loss development was stable in the first quarter 2017 with no material change recorded. We continue to be very confident in the adequacy of our reserves, having taken the required actions over several years to dramatically improve our claims handling process. The numbers again speak for themselves, and we are happy to continue to add value for our shareholders.” Net income increased 171.9% to $1.47 million during the three month period ended March 31, 2017, compared to net income $0.54 million in the prior-year period. The increase in net income can be attributed primarily to a 14.6 point decrease in the net loss ratio. There was a 12.6% increase in net premiums earned, which, combined with the decline in net loss ratio, contributed to the increase in net income. Kingstone reported EPS of $0.15 per diluted share for the three months ended March 31, 2017, compared to $0.07 per diluted share for the three months ended March 31, 2016. EPS for the three month periods ended March 31, 2017 and March 31, 2016 was based on 9.85 million and 7.36 million weighted average diluted shares outstanding, respectively. Direct written premiums1 for the first quarter of 2017 were $26.1 million, an increase of 13.4% from $23.0 million in the prior year period. The increase is attributable to a 10.8% increase in the total number of policies in-force as of March 31, 2017 as compared to March 31, 2016. (1) These measures are not based on GAAP and are defined and reconciled to the most directly comparable GAAP measures in “Information Regarding Non-GAAP Measures” below. Net written premiums1 increased 14.1% to $16.7 million during the three month period ended March 31, 2017 from $14.7 million in the prior year period. Net premiums earned for the quarter ended March 31, 2017 increased 12.6% to $16.4 million, compared to $14.5 million in the quarter ended March 31, 2016. For the quarter ended March 31, 2017, the Company’s net loss ratio was 50.7% compared to 65.3% in the prior period. The first quarter 2017 net loss ratio improved due to a reduction in the impact of severe winter weather and a decline in the core loss ratio excluding the impact of catastrophes and prior year loss development. For the quarter ended March 31, 2017, the net underwriting expense ratio was 34.5% as compared to 31.6% in the prior year period. The increase of 2.9 percentage points was largely due to expenses related to our new state expansion initiative and a one-time favorable impact in first quarter 2016 related to a state premium tax rate adjustment, which does not affect first quarter 2017. Kingstone’s net combined ratio was 85.2% for the three month period ended March 31, 2017, compared to 96.9% for the prior year period. Kingstone’s cash and investment holdings were $138.9 million at March 31, 2017 compared to $94.0 million at March 31, 2016. The Company’s investment holdings are comprised primarily of investment grade corporate, mortgage-backed and municipal securities, with fixed income investments representing approximately 91.3% of total investments at March 31, 2017 and 88.7% at March 31, 2016. The Company’s effective duration on its fixed-income portfolio is 4.8 years. Net investment income increased 5.5% to $858,000 for the first quarter of 2017 from $813,000 in the prior year period, largely due to an increase in invested assets. The purchase of higher rated securities has led to a reduction in the pre-tax equivalent investment yield on estimated annual income, excluding cash, to 4.03% at March 31, 2017 as compared to 4.80% as of March 31, 2016. As of March 31, 2017, AOCI was $0.46 million compared to $1.41 million at March 31, 2016. The Company’s book value per share at March 31, 2017 was $8.29 an increase of 31.2% compared to $6.32 at March 31, 2016. In January and February 2017, the Company sold a total of 2,692,500 newly issued shares of common stock in a public offering at a price of $12.00 per share. Kingstone received net proceeds from the public offering of $30,136,699 after deducting underwriting discounts and commissions, and other offering expenses. Management will discuss the Company’s operations and financial results in a conference call on Friday, May 12, 2017, at 8:30 a.m. ET. The Company will also have an accompanying slide presentation available in PDF format on the Kingstone Companies website at http://www.kingstonecompanies.com/. The presentation will be made available 30 minutes prior to the conference call. In addition, the call will be simultaneously webcast over the Internet via the Kingstone website or by clicking on the conference call link: http://kingstonecompanies.equisolvewebcast.com/q1-2017. The webcast will be archived and accessible for approximately 30 days. Direct written premiums - represents the total premiums charged on policies issued by the Company during the respective fiscal period. Net premiums earned - is the GAAP measure most closely comparable to direct written premiums and net written premiums. Management uses direct written premiums and net written premiums, along with other measures, to gauge the Company’s performance and evaluate results. Direct written premiums and net written premiums are provided as supplemental information, are not a substitute for net premiums earned and do not reflect the Company’s net premiums earned. The table below details the direct written premiums, net written premiums, and net premiums earned for the periods indicated: Net operating income - is net income exclusive of realized investment gains, net of tax. Net income is the GAAP measure most closely comparable to net operating income. Operating return on average common equity - is net operating income divided by average common equity. Return on average common equity is the GAAP measure most closely comparable to operating return on average common equity. Management uses net operating income and operating return on average common equity, along with other measures, to gauge the Company’s performance and evaluate results, which can be skewed when including realized investment gains, which may vary significantly between periods. Net operating income and operating return on average common equity are provided as supplemental information, are not a substitute for net income or return on average common equity and do not reflect the Company’s overall profitability or return on average common equity. The following table reconciles the net operating income to net income and the operating return on average common equity to return on average common equity for the periods indicated: Net combined ratio excluding the effect of catastrophes - is a non-GAAP ratio, which is computed as the difference between GAAP net combined ratio and the effect of catastrophes on the net combined ratio. We believe that this ratio is useful to investors and it is used by management to reveal the trends in our business that may be obscured by catastrophe losses. Catastrophe losses cause our loss trends to vary significantly between periods as a result of their incidence of occurrence and magnitude, and can have a significant impact on the net combined ratio. We believe it is useful for investors to evaluate this component separately and in the aggregate when reviewing our underwriting performance. We also provide it to facilitate a comparison to our outlook on the net combined ratio excluding the effect of catastrophes. The most directly comparable GAAP measure is the net combined ratio. The net combined ratio excluding the effect of catastrophes should not be considered a substitute for the net combined ratio and does not reflect the Company’s net combined ratio. The following table reconciles the net combined ratio excluding the effects of catastrophes to the net combined ratio for the periods indicated: Kingstone is a property and casualty insurance holding company whose principal operating subsidiary, Kingstone Insurance Company, is domiciled in the State of New York. Kingstone is a multi-line property and casualty insurance company writing business exclusively through independent retail and wholesale agents and brokers. Kingstone is licensed to write insurance policies in New York, New Jersey, Pennsylvania, Connecticut, Texas and Rhode Island. Kingstone offers property and casualty insurance products to individuals and small businesses primarily in New York State. Statements in this press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. These statements involve risks and uncertainties that could cause actual results to differ materially from those included in forward-looking statements due to a variety of factors. More information about these factors can be found in Kingstone’s filings with the Securities and Exchange Commission, including its latest Annual Report filed with the Securities and Exchange Commission on Form 10-K. Kingstone undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The following table summarizes gross and net written premiums1, net premiums earned, and loss and loss adjustment expenses by major product type, which were determined based primarily on similar economic characteristics and risks of loss.


News Article | May 10, 2017
Site: fashionunited.com

H&M has become the first international fashion retailer to join EP100, the global, collaborative initiative led by The Climate Group to save energy and to encourage influential businesses to double their energy productivity as part of international efforts to transition to a net-zero economy. The announcement was made at the 2017 Energy Efficiency Global Forum in Washington D.C., where leaders from business, government and leading NGOs gathered to assess the future of energy efficiency. The aim of the collaborative, which includes nine other major leading businesses such as Woolworths, Land Securities, Dalmia Cement, Swiss Re, and Johnson Control, is to showcase that by doubling the economic output from every unit of energy consumed, companies set a bold target, demonstrating climate leadership while reaping the benefits of lower energy costs. On joining the campaign, Pierre Borjesson, global sustainability business expert at H&M said: “Using less energy and increasing our economic output is a fundamental part of our strategy. We have long been working to reduce our climate impact and recently launched our new commitment to achieve a climate positive value chain by 2040. “This means H&M will support reductions of greenhouse gases to larger extent than what our value chain emits. Two of our key priorities are leadership in energy productivity and using renewable energy throughout the value chain.” H&M has pledged that by 2030 at the latest it plans to build future stores using 40 percent less energy per square metre, compared to those constructed today. Adding that within its stores, the retailer aims to invest in new technologies for lighting, heating, ventilation and air conditioning (HVAC) systems to improve its operational energy productivity. Additionally, H&M aims to have 100 percent of its supplier partners enrolled in an energy efficiency program by 2025, as well as reduce the energy used in its logistics transport and warehouses. Helen Clarkson, chief executive of The Climate Group added: “It is great to see a multinational such as H&M taking a leading role in enhancing energy efficiency by joining EP100. Already a member of our RE100 initiative that commits businesses to renewable power, H&M is going one step further in enhancing its commitment to climate initiatives. “We hope that H&M’s leadership in this area can inspire other companies across sectors to embrace energy productivity initiatives, to align economic growth with environmental sustainability.” The EP100 campaign is part of The Climate Group’s partnership with the Alliance to Save Energy.

Loading Swiss Re collaborators
Loading Swiss Re collaborators