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AM Best Affirms Credit Ratings of Journey Insurance Company

October 13, 2020
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| insurance

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Journey Insurance Company (Journey) (St. Petersburg, FL). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect Journey’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

Journey is majority owned by United Insurance Holdings Corp. (United) [NASDAQ: UIHC]. Journey was created in 2018 to take advantage of market opportunities within Florida, Texas and South Carolina, specifically regarding property coverage. The company’s balance sheet strength assessment is influenced by the infusion of significant capital intended to support its growth as it relates to underwriting, credit and investment risks. United provides strategic administration and operational support as it pertains to underwriting, ERM, claims, leadership and other functions. The ratings and outlooks consider

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PrimeOne Insurance Company Names Eric Jarvis as COO

October 13, 2020
| No Comments
| insurance

SALT LAKE CITY, Oct. 13, 2020 /PRNewswire/ — PrimeOne Insurance Company today named Los Angeles-based Eric Jarvis as its Chief Operating Officer.  He will report directly to David Thorson, Chairman and President of PrimeOne.

“Eric has demonstrated operational and executive management skills that will be sure to benefit PrimeOne,” said Thorson.  “We are looking forward to utilizing his experience and talents to ensure the continued success of PrimeOne.”

Jarvis stated, “I am pleased to be working with Dave and the PrimeOne team.  I’ve devoted my career to creating results-driven outcomes, and am eager to be a part of the realization of PrimeOne’s strategies of customer service, financial strength, and sustainable growth.”

Mr. Jarvis brings 21 years of experience in the insurance industry, most recently the head of the consulting firm Elevate Management, Inc.  He previously led KnightBrook Insurance Company and the Knight Insurance Group.  Mr. Jarvis is

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Hedge Funds Are Selling Edgewell Personal Care Company (EPC)

October 13, 2020
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| personal

We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not always available for the general crowd. This doesn’t mean that they don’t have occasional colossal losses; they do. However, it is still a good idea to keep an eye on hedge fund activity. With this in mind, let’s examine the smart money sentiment towards Edgewell Personal Care Company (NYSE:EPC) and determine whether hedge funds skillfully traded this stock.

Is Edgewell Personal Care Company (NYSE:EPC) a good stock to buy now? Investors who are in the know were selling. The number of bullish hedge fund bets were trimmed by 5 lately. Edgewell Personal Care Company (NYSE:EPC)

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She bootstrapped her company after facing bias. Now she’s helping other entrepreneurs do the same.

October 10, 2020
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| business

This story originally ran on CNBC.com

Melissa Bradley’s mission to help women and people of color build their businesses stems from the hardships she faced as a young entrepreneur.

The 52-year-old, co-founder of the mentorship tech platform Ureeka and a Georgetown University professor, started her first company shortly after she graduated from college 30 years ago. The business’s mission was to provide financial literacy services to parents.

Bradley says that when she went to a government agency for a loan, she was told she had three strikes against her: She was Black, she was a woman and the person said she didn’t know any successful Black women in finance.

Bradley, who recently participated in the Ewing Marion Kauffman Foundation and CNBC + Acorns Invest in You’s “Rebuilding Better: A Virtual Town Hall for America’s Small & New Business Owners,” still managed to get her company off the ground. “I bootstrapped,”

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AM Best Affirms Credit Ratings of Members of Standard Insurance Group and Pacific Guardian Life Insurance Company, Limited

October 10, 2020
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| insurance

OLDWICK, N.J.–(BUSINESS WIRE)–Oct 9, 2020–

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” of Standard Insurance Company (Portland, OR) and its affiliate, The Standard Life Insurance Company of New York (White Plains, NY), together referred to as the Standard Insurance Group (The Standard). Additionally, AM Best has affirmed the Long-Term ICR of “bbb+” and the Long-Term Issue Credit Rating (Long-Term IR) of “bbb+” on the outstanding $250 million 5% senior unsecured notes, due 2022, of StanCorp Financial Group, Inc. (StanCorp Financial) (Portland, OR), the intermediate holding company of The Standard.

Concurrently, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a” of Pacific Guardian Life Insurance Company, Limited (Pacific Guardian) (Honolulu, HI). The outlook of these Credit Ratings (ratings) is stable. The Standard and Pacific Guardian are the U.S. insurance subsidiaries

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AM Best Affirms Credit Ratings of Luen Fung Hang Insurance Company Limited

October 8, 2020
| No Comments
| insurance

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Luen Fung Hang Insurance Company Limited (LFH) (Macau). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect LFH’s balance sheet strength, which AM Best categorises as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.

LFH’s balance sheet strength continues to be supported by a robust level of risk-adjusted capitalisation. Supported by positive operating results and profit retention, the company’s capital and surplus continued to grow organically in 2019 to MOP 567 million (USD 71 million). LFH’s investment strategy remains stable and conservative with a majority of its investments held in bonds and cash. Going forward, the company plans to invest more in bonds while maintaining a similar level of exposure inequity investments.

LFH has demonstrated a track record

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Dallas company makes $135 million buyout bid for subprime auto lender

October 8, 2020
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| business

A Dallas company led by auto finance veteran Samuel Ellis is offering to buy out a California firm that specializes in subprime auto loans for $135 million.

Auto Experience Inc., which Ellis formed in 2018, said it made the all-cash bid in a letter to the board of directors of Consumer Portfolio Services Inc. after trading markets closed Wednesday. Its offer amounts to $6.18 a share — an 84% premium over where the Nasdaq-listed company’s stock ended Wednesday.

The suitor gave CPS until Oct. 30 to respond.

Based in Irvine, Calif., CPS works with auto dealers to buy and service consumer loans, funding its purchases primarily through securitization markets. About 75% of its business is financing used car sales, and its customers often have limited credit histories or past credit problems.

The 834-employee company posted revenue of $346 million last year, with $5.4 million in profit. It has recorded 28

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$543 Million In Short Positions For The Macerich Company (NYSE:MAC)

October 7, 2020
| No Comments
| business

Introduction

At $1.03 billion market cap, The Macerich Company (NYSE:MAC) is a leader in shopping mall real estate ownership. Malls and physical retail were already experiencing a declining trend before COVID-19. Now, the future of shopping real estate is even more uncertain. Based on fundamentals, our long-term recommendation is to underweight. However, be on guard for a potential short squeeze as this could send the price in a violent move upwards, making Macerich a speculative buy if the price breaks resistance levels.

Macerich Provides COVID-19 Update

Overview

A company in the podium of retail real estate ownership

The company is widely considered the 3rd largest shopping center owner & operator in the United States. With 52 prime properties, Macerich manages high-quality malls from coast to coast in top locations. The company classifies its properties in three segments: 32 major markets, 17 regional centers, and 3 outlets.

One third of the revenues come

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SelectQuote: A Fast-Growing Company In Insurance (NYSE:SLQT)

October 7, 2020
| No Comments
| insurance

I’ve been building a portfolio for high growth stocks that could outperform the market. I stumbled into SelectQuote (SLQT) After doing some due diligence, I like the company’s “story” and believe it is worth a look.

Just a brief background on the company, SelectQuote is a Health, Life, Auto, and Home insurance broker. The company has relationships with all of the nation’s leading insurance providers. What differentiates SelectQuote from traditional insurance brokers is its distribution platform which seamlessly blends technology and agent/human interaction components. The first piece of the puzzle is the company’s website, which allows users to request quotes for insurance premiums inputting their general data. There was already an existing trend of younger people being more comfortable shopping insurance online as it allows a greater level of transparency with regard to pricing and coverage comparison. This trend is only magnified by the ongoing coronavirus pandemic which has forced

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ROSEN, NATIONAL TRIAL LAWYERS, Reminds Portland General Electric Company Investors of Important Deadline in Securities Class Action

October 6, 2020
| No Comments
| business

NEW YORK, Oct. 5, 2020 /PRNewswire/ — Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Portland General Electric Company between April 24, 2020 and August 24, 2020, inclusive (the “Class Period”), of the important November 2, 2020 lead plaintiff deadline in the securities class action. The lawsuit seeks to recover damages for PGE investors under the federal securities laws.

Rosen Law Firm, P.A. Logo
Rosen Law Firm, P.A. Logo

To join the PGE class action, go to http://www.rosenlegal.com/cases-register-1938.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) PGE downplayed risks with its trading activity in wholesale electricity markets; (2) PGE’s wholesale energy trading activity would result in at least $127 million of realized and unrealized losses;

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