Protective Life

Protective Life Insurance Company Launches New Advisory Variable Universal Life Product on FireLight

Retrieved on: 
Thursday, April 18, 2024
Professional Services, Technology, Insurance, Finance, Software, Fintech, Dai, Prospectus, VUL, Policy, Oids, Business development, Workflow, Dai-ichi, Life, RIA, Protective Life, Firelight, Financial adviser

Hexure, a provider of sales and regulatory automation solutions for the life and annuity industry, announced that Protective Life Insurance Company (Protective), a subsidiary of Dai-ichi Life Holdings, Inc. (Dai-ichi, TSE:8750), has selected FireLight to support digital sales and submission processes for its new advisory variable universal life (VUL) product, Protective Investors Benefit Advisory VUL.

Key Points: 
  • Hexure, a provider of sales and regulatory automation solutions for the life and annuity industry, announced that Protective Life Insurance Company (Protective), a subsidiary of Dai-ichi Life Holdings, Inc. (Dai-ichi, TSE:8750), has selected FireLight to support digital sales and submission processes for its new advisory variable universal life (VUL) product, Protective Investors Benefit Advisory VUL.
  • “As we build a new market for advisory life insurance, it made perfect sense for Protective to collaborate with Hexure for our fee-based advisory VUL offering as well.”
    With their RIA distributors already using FireLight, Protective saw the value in expanding its FireLight experience to include life products.
  • FireLight e-application, a sales component of the FireLight end-to-end sales platform, provides the flexibility and administrative tools to support Protective’s growing life business.
  • Protective Investors Benefit Advisory VUL issued on policy form VUL-15 9-19 and state variations in all states except New York by Protective Life Insurance Company, Nashville, TN.

AM Best Places Credit Ratings of ShelterPoint Insurance Company and ShelterPoint Life Insurance Company Under Review With Positive Implications

Retrieved on: 
Friday, April 12, 2024
Banking, Professional Services, Insurance, Finance, Dai, News, SPL, Credit, Credit rating, AM Best, SPI, Protective Life, Acquisition, ALL, FSR

AM Best has placed under review with positive implications the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a-” (Excellent) of ShelterPoint Insurance Company (SPI) (West Palm Beach, FL) and ShelterPoint Life Insurance Company (SPL) (Garden City, NY).

Key Points: 
  • AM Best has placed under review with positive implications the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a-” (Excellent) of ShelterPoint Insurance Company (SPI) (West Palm Beach, FL) and ShelterPoint Life Insurance Company (SPL) (Garden City, NY).
  • This Credit Rating (rating) action follows the announcement that Protective Life Corporation (Protective Life), a U.S. subsidiary of Dai-ichi Life Holdings, Inc. [TSE: 8750] and its primary life insurance subsidiary, Protective Life Insurance Company, entered into an agreement to acquire ShelterPoint Group, Inc., the holding company of ShelterPoint Life.
  • The under review with positive implications status reflects the expected benefits ShelterPoint Life will receive from joining Protective Life and the greater financial strength of the organization.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .

AM Best Comments on Credit Ratings of Protective Life Corporation Following Acquisition Announcement

Retrieved on: 
Wednesday, April 10, 2024
Other Professional Services, Professional Services, Insurance, Dai, Protective Life, News, Credit, AM Best, Dai-ichi, ALL

AM Best has commented that the Credit Ratings (ratings) and the associated debt of Protective Life Corporation (Protective Life) (Birmingham, AL), a U.S. subsidiary of Dai-ichi Life Holdings, Inc. (Dai-ichi; TSE:8750), and its primary life insurance subsidiaries remain unchanged following the announcement that Protective Life Insurance Company has entered into an agreement to acquire ShelterPoint Group, Inc.

Key Points: 
  • AM Best has commented that the Credit Ratings (ratings) and the associated debt of Protective Life Corporation (Protective Life) (Birmingham, AL), a U.S. subsidiary of Dai-ichi Life Holdings, Inc. (Dai-ichi; TSE:8750), and its primary life insurance subsidiaries remain unchanged following the announcement that Protective Life Insurance Company has entered into an agreement to acquire ShelterPoint Group, Inc.
  • 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 specializing in the insurance industry.

Protective to Acquire ShelterPoint

Retrieved on: 
Tuesday, April 9, 2024
Other Professional Services, Professional Services, Insurance, Dai, Goldman Sachs, Protective Life, Winston & Strawn, Acquisition, Parental leave, Family, Protection

Protective Life Corporation (“Protective”), a U.S. subsidiary of Dai-ichi Life Holdings, Inc. (“Dai-ichi”; TSE:8750), announced today that its principal subsidiary, Protective Life Insurance Company, entered into an agreement to acquire ShelterPoint Group, Inc. , a leading provider of statutory disability, paid family and medical leave, as well as medical gap insurance products, among others.

Key Points: 
  • Protective Life Corporation (“Protective”), a U.S. subsidiary of Dai-ichi Life Holdings, Inc. (“Dai-ichi”; TSE:8750), announced today that its principal subsidiary, Protective Life Insurance Company, entered into an agreement to acquire ShelterPoint Group, Inc. , a leading provider of statutory disability, paid family and medical leave, as well as medical gap insurance products, among others.
  • ShelterPoint Group, Inc. is the holding company of ShelterPoint Life Insurance Company and its wholly owned subsidiary ShelterPoint Insurance Company (together “ShelterPoint”).
  • “On our continued journey to grow our business and serve more people, we are thrilled to add new services to our portfolio through the acquisition of ShelterPoint,” said Rich Bielen, President & CEO of Protective.
  • Financial advisors for this deal included Fenchurch Advisory Partners US LP for Protective and Goldman Sachs & Co. LLC for ShelterPoint.

Sonida Senior Living, Inc. Announces Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Wednesday, March 27, 2024
Health, Consumer, Residential Building & Real Estate, Seniors, Managed Care, Construction & Property, Common stock, Ally Financial, Tax, Private, Information technology, COVID-19, Protective Life, Sale, Insurance, Bank statement, Share (finance), Investment, GAAP, Fannie Mae, Ally, Cryptocurrency

(1) Includes $0.0 million, $0.0 million, $0.5 million, $2.9 million and $1.2 million of state grant revenue received in Q4 2023, Q4 2022, Q3 2023, Full Year 2023 and Full Year 2022, respectively.

Key Points: 
  • (1) Includes $0.0 million, $0.0 million, $0.5 million, $2.9 million and $1.2 million of state grant revenue received in Q4 2023, Q4 2022, Q3 2023, Full Year 2023 and Full Year 2022, respectively.
  • Operating expenses for the three months ended December 31, 2023 were $44.4 million as compared to $45.1 million for the three months ended December 31, 2022, a decrease of $0.7 million.
  • Adjusted EBITDA for the three months ended December 31, 2023 was $9.3 million compared to $4.6 million for the three months ended December 31, 2022.
  • Adjusted EBITDA for the year ended December 31, 2023 was $33.9 million compared to $17.0 million for the year ended December 31, 2022.

Sonida Senior Living Announces $47.75 Million Equity Raise to Fund Discounted Debt Purchase, Accretive Capital Investments within the Existing Portfolio and Acquisitions

Retrieved on: 
Tuesday, February 6, 2024
Professional Services, Health, Consumer, Seniors, Other Health, Managed Care, Finance, Partnership, COVID-19, Security (finance), Growth, Senior living, Protective Life, SNDA, Report, Magnolia, Lung compliance, Investment, Documentation, Risk, Acquisition, Sale, Geography, Unemployment, Insurance, Ally Financial

The shares were issued at $9.50 per share, a 5% premium to the 30-day volume weighted average price prior to closing.

Key Points: 
  • The shares were issued at $9.50 per share, a 5% premium to the 30-day volume weighted average price prior to closing.
  • The holders of a majority of the Company’s voting securities have agreed to vote in favor of such an increase.
  • The Company’s debt has a weighted-average remaining term of 3.7 years, with only $31.8 million maturing prior to December 2026.
  • The capital earmarked for growth is expected to provide certainty and speed in executing on near-term, bolt-on investment opportunities as they arise.

Skyward Specialty Adds Mike Morrissey to Its Board of Directors

Retrieved on: 
Thursday, December 14, 2023
Public policy, Kidder, Peabody & Company, Executive Committee, Protective Life, Business administration, Harvard Business School, Manhattan Life Insurance Company, Master of Business Administration, Dartmouth College, The arts, Organization, Corporation, CFA, Management

HOUSTON, Dec. 14, 2023 (GLOBE NEWSWIRE) -- Skyward Specialty Insurance Group Inc.™ (NASDAQ: SKWD) ("Skyward Specialty" or "the Company"), a leader in the specialty property and casualty (“P&C") market, is pleased to announce the addition of Mike Morrissey, CFA to its Board of Directors effective December 14, 2023.

Key Points: 
  • HOUSTON, Dec. 14, 2023 (GLOBE NEWSWIRE) -- Skyward Specialty Insurance Group Inc.™ (NASDAQ: SKWD) ("Skyward Specialty" or "the Company"), a leader in the specialty property and casualty (“P&C") market, is pleased to announce the addition of Mike Morrissey, CFA to its Board of Directors effective December 14, 2023.
  • “I am excited to welcome Mike to our Board of Directors.
  • His expertise in the insurance and investment markets, coupled with his extensive public board track record makes him a terrific addition to our Board.
  • It is clear to all members of the board that Mike’s wisdom and experience will be invaluable as we continue to build Skyward Specialty into one of the premier specialty insurance carriers,” said Skyward Specialty CEO, Andrew Robinson.

Axon Publishes Force for Good Report

Retrieved on: 
Tuesday, November 28, 2023
Cloud, Research, Safety, TASER, Ethics, Piramal Group, Justice, Recycling, Protective Life, CSR, Social responsibility, Police, Ecosystem, Culture, Health, Growth, Administration, Diversity, Good, JEDI, Conventional weapon, ESG, Poultry farming, Management, Renewable energy, Axon

SCOTTSDALE, Ariz., Nov. 28, 2023 /PRNewswire/ -- Axon (Nasdaq: AXON), the global public safety technology leader, today published its Force For Good report, celebrating Axon's 30th anniversary, its philanthropic efforts and advancements in service of Axon's enduring mission to protect life."Since the release of our 2021 report, we are proud to have expanded our business extensively. Through this growth, we invested further in our mission, focusing on research and development that builds on our innovative, life-saving technology," said Axon Founder and CEO Rick Smith. "This report represents Axon's progress as a force for good across four key areas — our customers, the public, and our products and employees." The nearly 100-page Force For Good report effectively serves as Axon's corporate social responsibility (CSR) and environmental, social and governance (ESG) report. Axon is committed to serving as a force for good and protecting life. The Force For Good Report can be found at axon.com/responsibility. Highlights of the report are also included below. Customers: Serving those who are sworn to protectAxon enables first responders to foster safe communities more efficiently and effectively. The Axon ecosystem has continued to expand to include more advanced less-lethal and de-escalation technology built to enhance transparency, improve emergency response and save lives. Going beyond on-the-job tools and tactics to support the whole officer, Axon Aid, Axon's philanthropic program, grew to provide fallen officer family aid, emergency assistance in the wake of natural disasters and mental health support. Key highlights include:

Key Points: 
  • With 2023 Report, Axon Celebrates 30 Years of Being a Force For Good, Re-Commits to Protecting Life
    SCOTTSDALE, Ariz., Nov. 28, 2023 /PRNewswire/ -- Axon (Nasdaq: AXON), the global public safety technology leader, today published its Force For Good report, celebrating Axon's 30th anniversary , its philanthropic efforts and advancements in service of Axon's enduring mission to protect life.
  • "This report represents Axon's progress as a force for good across four key areas — our customers, the public, and our products and employees."
  • The nearly 100-page Force For Good report effectively serves as Axon's corporate social responsibility (CSR) and environmental, social and governance (ESG) report.
  • Axon is committed to serving as a force for good and protecting life.

NEARLY 80% OF AMERICAN HOMEOWNERS ARE ANXIOUS ABOUT THE STATE OF THE U.S. ECONOMY

Retrieved on: 
Wednesday, October 18, 2023
Knowledge, National Council, The Harris Poll, Paper, SVKM's NMIMS, OH, Housing, SVP, BS, Electrical engineering, Product marketing, National Council on Aging, MBA, Research, Life insurance, Procter & Gamble, Retirement, Procter, Cornell University, Computer, Kellogg School, Woman, Protective Life, Brighthouse Financial, Beauty, Real estate, Property insurance, Security (finance), Finance

TULSA, Okla., Oct. 18, 2023 /PRNewswire/ --

Key Points: 
  • 61% of homeowners worry about unexpected healthcare costs in retirement, up from 48% in 2022.
  • 41% of homeowners feel anxious about their discretionary spending, such as purchasing a new car or taking a trip, up from 32% in 2022.
  • 40% of homeowners feel anxious about their ability to pay off debt, up from 36% in 2022.
  • 32% of homeowners said they were likely to use a home equity loan, a slight increase from 28% in 2022.

Sonida Senior Living Announces Completion of Loan Modifications with Fannie Mae and Updated Performance Highlights Through Q3

Retrieved on: 
Tuesday, October 10, 2023
Health, Consumer, Seniors, Managed Care, Construction & Property, Urban Planning, Report, Fannie Mae, COVID-19, Dynamic currency conversion, Unemployment, NYSE, Ally Financial, Senior living, Risk, Insurance, SNDA, Growth, Annual report, Protective Life, Lung compliance, Security (finance), Conversational Capital, Sale, Real estate, Bank, Sound

Sonida Senior Living, Inc. (the “Company,” “Sonida,”) (NYSE: SNDA), a leading owner-operator of communities and services for seniors, announced the execution of its loan modifications with Fannie Mae in tandem with strong September and Q3 2023 occupancy growth.

Key Points: 
  • Sonida Senior Living, Inc. (the “Company,” “Sonida,”) (NYSE: SNDA), a leading owner-operator of communities and services for seniors, announced the execution of its loan modifications with Fannie Mae in tandem with strong September and Q3 2023 occupancy growth.
  • On October 2, 2023, Sonida and Fannie Mae entered into loan modification agreements covering all 37 Fannie Mae mortgaged communities, which finalizes the previously announced comprehensive restructuring.
  • The terms of the Fannie Mae loan modifications were consistent with those set forth in the June 29, 2023 forbearance agreement.
  • Key elements of the loan modifications include:
    All maturities under the 37 Fannie Mae loans have been extended to December 2026 or later.