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Best's Market Segment Report: P&I Clubs See Improving Underwriting Results but Investment Environment Remains Challenging

Retrieved on:

Monday, February 13, 2023

Insurance, Professional Services, Environment, Protection and indemnity insurance, Data, News, AM Best, ALL, International Marxist Group, P&I

The Best’s Market Segment Report, “P&I Clubs in 2023: Improving Underwriting Results but Investment Environment Remains Challenging,” states that the overall credit quality of the International Group of P&I Clubs, which collectively insures approximately 90% of the world’s oceangoing tonnage, has deteriorated due to underwriting and investment losses, leading to a reduction in free reserves.

Key Points:

The Best’s Market Segment Report, “P&I Clubs in 2023: Improving Underwriting Results but Investment Environment Remains Challenging,” states that the overall credit quality of the International Group of P&I Clubs, which collectively insures approximately 90% of the world’s oceangoing tonnage, has deteriorated due to underwriting and investment losses, leading to a reduction in free reserves.
However, AM Best believes that the clubs have sufficient tools at their disposal to navigate the challenges that the segment is facing and to improve their credit quality once again.
For 2022/23, AM Best expects underwriting performance to improve, returning an overall combined ratio close to 100% (2021/22: 107%).
To access a complimentary copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=328794 .

AM Best Affirms Credit Ratings of Sveriges Ångfartygs Assurans Förening (The Swedish Club)

Retrieved on:

Friday, January 27, 2023

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Sveriges Ångfartygs Assurans Förening (The Swedish Club) (TSC or the Club) (Sweden).

Key Points:

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Sveriges Ångfartygs Assurans Förening (The Swedish Club) (TSC or the Club) (Sweden).
The outlook of these Credit Ratings (ratings) is negative.
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 .

Century Health & Housing Capital Automates Ginnie Mae Reporting with SS&C

Retrieved on:

Tuesday, February 14, 2023

Government National Mortgage Association, Federal Housing Administration, NYSE, LM, RFS, FHA, Century, SS&C, SS, P&I, Management

WINDSOR, Conn., Feb. 14, 2023 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Century Health & Housing Capital, LLC ("Century"), a leading provider of government-insured Federal Housing Administration (FHA) mortgage financing, has successfully implemented SS&C Precision LM™. Century is a majority-owned subsidiary of Velocity Financial, Inc. (NYSE: VEL)

Key Points:

WINDSOR, Conn., Feb. 14, 2023 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Century Health & Housing Capital, LLC ("Century"), a leading provider of government-insured Federal Housing Administration (FHA) mortgage financing, has successfully implemented SS&C Precision LM™.
Century is a majority-owned subsidiary of Velocity Financial, Inc. (NYSE: VEL)
"We were impressed by the technology as well as the level of experience and Ginnie Mae reporting expertise from SS&C's team," said Kyle Perry, CEO of Century.
SS&C Precision LM automates many mission-critical servicing functions, including new loan onboarding, running amortization schedules, setting up escrow and reserve accounts, escrow analysis and generating monthly invoices.
Century will use Precision LM to support its in-house servicing requirements for Ginnie Mae, including RFS (Reporting and Feedback System) reporting, P&I and T&I reconciliation, and mortgage collateral reconciliation to outstanding securities.

Churchill Announces Record Investment Activity in 2022, Strong Continued Growth Despite Challenging Economic Environment

Retrieved on:

Thursday, January 12, 2023

Despite the challenging economic environment, Churchill experienced strong growth across its leading private capital platform in 2022.

Key Points:

Despite the challenging economic environment, Churchill experienced strong growth across its leading private capital platform in 2022.
“As our annual figures show, economic uncertainty and the dislocation in the public credit markets have only accelerated activity for Churchill.
“As we enter 2023, the confluence of recession fears, uncertainty and rising interest rates has led to a very attractive investment environment for top managers.
More than ever, Churchill has continued to draw industry recognition.

AXA XL welcomes new Hull and Inland Marine hires in the Americas

Retrieved on:

Thursday, January 12, 2023

Berkshire Hathaway, Rail transport by country, Insurance, XL, Excess, Head, P&I, AXA, Axa XL, Biophysical environment, Cy, United States Air Force, CNA, Inland marine insurance, Central Indo-Aryan languages, Allianz

NEW YORK, Jan. 12, 2023 /PRNewswire/ -- AXA XL welcomed three new colleagues to its Americas Marine Insurance business -- Jonathan Lacorazza as Head of Hull , Carol Warfel as Senior Underwriter, Inland Marine and Cy Villarosa as Associate Underwriter, Inland Marine.

Key Points:

NEW YORK, Jan. 12, 2023 /PRNewswire/ -- AXA XL welcomed three new colleagues to its Americas Marine Insurance business -- Jonathan Lacorazza as Head of Hull , Carol Warfel as Senior Underwriter, Inland Marine and Cy Villarosa as Associate Underwriter, Inland Marine.
Commenting on the appointments, Mike Perrotti, Chief Underwriting Officer for Marine in the Americas said, "We're excited to attract top marine underwriting talent like Jonathan and Carol.
Based in St. Louis, MO, Ms. Warfel joins AXA XL from Allianz where she served as an Inland Marine & Related Property underwriter.
AXA XL's Marine insurance offerings include Inland Marine , Ocean Cargo , Blue and Brown Water Hull, P&I, as well as Excess and Primary Marine Liabilities .

FCP WINS PENSIONS & INVESTMENTS BEST PLACES TO WORK IN MONEY MANAGEMENT AWARD

Retrieved on:

Tuesday, January 10, 2023

FCP, Pension, P&I, Research, Crain Communications, News, Face, Philosophy, Culture, The Last Best Place, Management, Investment

Presented by Pensions & Investments, the global news source of money management, the 11th annual survey and recognition program is dedicated to identifying and recognizing the best employers in the money management industry.

Key Points:

Presented by Pensions & Investments, the global news source of money management, the 11th annual survey and recognition program is dedicated to identifying and recognizing the best employers in the money management industry.
"We are honored to receive the Pensions and Investments Best Places to Work award and value the contributions of all of our team members."
"Pensions & Investments is proud to honor the Best Places to Work in Money Management for the 11th year.
For a complete list of the 2022 Pensions & Investments' Best Places to Work in Money Management winners and write-ups, go to www.pionline.com/BPTW2022 .

SPECTRUM INVESTMENT ADVISORS WINS PENSIONS & INVESTMENT'S BEST PLACES TO WORK IN MONEY MANAGEMENT AWARD

Retrieved on:

Wednesday, December 21, 2022

Spectrum, Pension, Government Pension Investment Fund, Face, News, Multimedia, Crain Communications, Research, P&I, Financial adviser, Investment

NEW YORK, Dec. 21, 2022 /PRNewswire/ -- Spectrum Investment Advisors, located in Mequon, Wisconsin, is named a 2022 Best Places to Work in Money Management by Pensions & Investments.

Key Points:

NEW YORK, Dec. 21, 2022 /PRNewswire/ -- Spectrum Investment Advisors, located in Mequon, Wisconsin, is named a 2022 Best Places to Work in Money Management by Pensions & Investments.
To learn more about Spectrum, visit www.spectruminvestor.com
Presented by Pensions & Investments, the global news source of money management, the 11th annual survey and recognition program is dedicated to identifying and recognizing the best employers in the money management industry.
"Pensions & Investments is proud to honor the Best Places to Work in Money Management for the 11th year.
To learn more about P&I, visit www.pionline.com
Disclosure: Spectrum was named a Best Place to Work in Money Management for 2022 by Pensions & Investments (P&I).

Firmament Recognized as One of the Best Places to Work in Money Management

Retrieved on:

Monday, December 19, 2022

Firmament, Creativity, The Last Best Place, Face, Pension, News, United Kingdom, Multimedia, Crain Communications, Philosophy, COVID-19, Software, Research, P&I, Management, Investment

NEW YORK, Dec. 19, 2022 /PRNewswire/ -- Firmament has been recognized in the "2022 Best Places to Work in Money Management Survey" announced by Pensions & Investments ("P&I").

Key Points:

NEW YORK, Dec. 19, 2022 /PRNewswire/ -- Firmament has been recognized in the "2022 Best Places to Work in Money Management Survey" announced by Pensions & Investments ("P&I").
"Pensions & Investments is proud to honor the Best Places to Work in Money Management for the 11th year.
Christopher Smith, Founding Partner at Firmament, commented, "It is an honor to be recognized by P&I as one of the best places to work in money management.
For a complete list of the 2022 Pensions & Investments' Best Places to Work in Money Management winners and write-ups, go to www.pionline.com/BPTW2022 .

WisdomTree Named as a 2022 Best Places to Work in Money Management by Pensions & Investments for Third Consecutive Year

Retrieved on:

Monday, December 12, 2022

The annual survey and recognition program is dedicated to identifying and recognizing the best employers in the money management industry.

Key Points:

The annual survey and recognition program is dedicated to identifying and recognizing the best employers in the money management industry.
“We are honored to be selected as a ‘Best Place to Work’ by P&I,” said Jarrett Lilien, WisdomTree President and COO.
For a complete list of the 2022 Pensions & Investments’ Best Places to Work in Money Management winners and write-ups, go to www.pionline.com/BPTW2022 .
Pensions & Investments provides timely and incisive coverage of events affecting the money management and retirement businesses.

The Mather Group Among “Best Places to Work in Money Management”

Retrieved on:

Thursday, December 15, 2022

The Mather Group, LLC (TMG), a wealth management firm with 14 offices across the country and more than $8.9 billion in assets under management (AUM, as of 11/30/22), is among the 2022 Best Places to Work in Money Management as announced by Pensions & Investments (P&I).

Key Points:

The Mather Group, LLC (TMG), a wealth management firm with 14 offices across the country and more than $8.9 billion in assets under management (AUM, as of 11/30/22), is among the 2022 Best Places to Work in Money Management as announced by Pensions & Investments (P&I).
As a relationship-based business, TMG is committed to attracting and retaining professionals who embrace the firms service-oriented and collaborative approach.
P&I partnered with Best Companies Group, a research firm specializing in identifying great places to work, to conduct a two-part survey process of employers and their employees.
Clients pay for the firm's experienced advice on a fee-only basis, typically as a percentage of assets under management.