Management of lines – Sail Theory http://sailtheory.com/ Tue, 09 Nov 2021 23:07:08 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://sailtheory.com/wp-content/uploads/2021/06/icon-2021-06-25T011712.182-150x150.png Management of lines – Sail Theory http://sailtheory.com/ 32 32 With runners left behind, Saint-Louis needs bus drivers https://sailtheory.com/with-runners-left-behind-saint-louis-needs-bus-drivers/ Tue, 09 Nov 2021 22:19:38 +0000 https://sailtheory.com/with-runners-left-behind-saint-louis-needs-bus-drivers/ Metro plans to suspend six MetroBus lines and reduce the frequency of the service on 31 others later this month in response to a continuing shortage of operators. Without enough bus drivers to meet the current level of service of the public transport agency, many passengers wait at stops for scheduled buses that never come. […]]]>

Metro plans to suspend six MetroBus lines and reduce the frequency of the service on 31 others later this month in response to a continuing shortage of operators. Without enough bus drivers to meet the current level of service of the public transport agency, many passengers wait at stops for scheduled buses that never come.

Along a high frequency route like the # 70 Grand, a typical 15 minute wait often turns into 30 or 40 minutes. And a canceled trip can mean a much longer wait along routes where a bus only has to pass every half hour or so. As temperatures in the St. Louis area drop toward winter, St. Louis resident Latoya Smith is particularly concerned.

Longtime bus driver said Saint Louis on the air that as someone who has to be on site at their workplace from 8 a.m. to 5 p.m. every day of the week, the shortage of transit workers has already made her days more difficult and her schedule uncertain.

“I depend on the bus to establish a connection. … It’s very difficult for me to access my job, and then I always have to explain it to my boss. … You don’t know how long you’re going to be out there, ”Smith said.

Metro recently posted some tips to find out how to find out if a trip has been canceled using the Transit app. “Our team is working hard to update the Transit app as quickly as possible, but it’s not always possible to cross out a trip on time,” reads an Oct. 19 Metro blog post, with captures screen of a sample trip included to help the application. runner verification indicates whether the application is actually accurate.

Metro also suggests calling its transit information team at 314-231-2345 if riders experience a wait of 30 minutes or more due to a bus not showing up for a scheduled trip. saying “We can help organize a Lyft ride for you. “

Dutchtown-based bus driver Gina Becnel recently took advantage of the Lyft save option, calling Metro after waiting in the cold and noticing that the Transit app was not updating live. She said she was grateful for the elevator, but sees it as a less than ideal solution.

Evie Hemphill / Saint-Louis Public Radio

Catina Wilson, left, and Mitch Eagles joined Tuesday’s talk show.

“If every passenger who missed their bus took a Lyft, it would just be more affordable for Metro to raise their drivers’ wages,” Becnel said. “And I’m sure that would attract more pilots to fill that gap.”

Local transit enthusiast, Mitch Eagles, notes that not all bus riders have access to smartphone apps – and may not be aware that Metro has turned to Lyft services to fill the gaps In public transports. And he and Catina Wilson, vice-president of Local 788 of the Amalgamated Transit Union, are both sad to see transit dollars shifting to one-on-one ridesharing instead.

“It’s not the metro from 20 years ago,” Wilson lamented. She’s sorry to see cut suburban lines and reduced service along some of the area’s higher capacity bus lines.

Tuesdays Saint Louis on the air, she told host Sarah Fenske what she heard from union members about why some bus drivers are increasingly frustrated or even quitting the profession.

“It’s really the lack of support from management,” Wilson said. “And it’s not an easy job to do.”

The union representative pointed out that the stressors related to COVID-19 were essential and what she described as a lack of empathy on the part of the management as well as “unrealistic expectations” in the era of the pandemic. .

“Work stress and the danger that comes with work, a number of them call it shutdown,” Wilson explained. “And you can’t recruit enough people yet. The management team, I don’t believe, is doing the job it takes to retain the employees who have maintained the system.

Meanwhile, several local bus riders, including Eagles, are working to start a union for transit riders called Bus Riders United STL. All volunteers at this point, the group members plan to start advertising their presence in the transit system next week.

“We’re going to be in transit centers and bus stops as much as we can. … We will share information about the organization and our goals, ”said Eagles.

These goals include giving bus users a stronger voice at the decision-making table.

“These problems have been going on for a long time… and nothing has been done. We hear a lot about turnstiles and security, but security only goes that far, ”Eagles said. “It doesn’t matter to the single mom who waits to come home from work in the dark and her bus shelter is broken, and the bus has been cut back. And now she has to wait another half an hour. It may need to be transferred. Why doesn’t this count as security for Metro and Bi-State [Development]? “

With runners left behind, Saint-Louis needs bus drivers

Hear host Sarah Fenske speak with bus driver Mitch Eagles and Operators Union Representative Catina Wilson – and also hear other passengers and Taulby Roach from Bi-State Development.

Wilson added that she thinks “the system really needs to consider some kind of overhaul and put operators and people at work in a different place where they feel appreciated.”

“We have people [making] less than $ 20 an hour, ”she said. “You can’t live today on that kind of salary. And they don’t get the treatment they deserve when they make this system work.

The discussion also included comments from Bi-State Development President and CEO Taulby Roach. He said in a statement sent to Saint Louis on the air Tuesday morning, Bi-State’s goal “is to support our operators and provide a better public transport experience for our passengers.”

“We did not close when the global pandemic hit our region, so our operators were on the front lines every day providing services to essential workers,” Roach wrote in part. “Their commitment to providing transit service during one of the most difficult times in history has been nothing short of heroic. We need to get more help from our operators as we are affected, like many other transit agencies and companies, by the nationwide labor shortage. “

The transit CEO went on to say that new operators are being hired “to support the current members of our team. We have significantly increased our recruiting efforts and are slowly starting to see some success with the progression of new operator training classes for MetroBus and Metro Call-A-Ride. However, it will take time to bring our numbers back to where they belong. “

Roach stressed his appreciation for the agency’s employees and passengers, and said the November 29 service changes are being implemented “to improve service reliability and minimize or eliminate canceled bus trips.”

“We will be able to better match our service levels with our staffing resources so that our passengers can rely on Metro and know their bus will arrive on time,” he wrote. “This reduction in service and frequency of service is temporary. It is intended to stabilize our service, improve our reliability and improve service for passengers. And as we increase our membership in the coming months, we look forward to re-establishing transit service in the spring and summer of next year. “

Metro Transit is hosting a hiring event this Saturday (November 13) from 10 a.m. to 2 p.m. at its central facility, located at 3300 Spruce Street.

Saint Louis on the air”Brings you the stories of Saint-Louis and the people who live, work and create in our region. The show is hosted by Sarah fenske and produced by Alex heuer, Emily woodbury, Evie hemphill and Lara hamdan. Jane Mather-Glass is our production assistant. The sound engineer is Aaron Doerr.


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1 financial actions and 1 health care actions to “BUY” according to the recommendations of Motilal Oswal https://sailtheory.com/1-financial-actions-and-1-health-care-actions-to-buy-according-to-the-recommendations-of-motilal-oswal/ Mon, 08 Nov 2021 06:07:20 +0000 https://sailtheory.com/1-financial-actions-and-1-health-care-actions-to-buy-according-to-the-recommendations-of-motilal-oswal/ Buy Divi’s Laboratories at a target price of Rs 6,050 The brokerage believes that the action of Divi laboratories could appreciate up to a target price of Rs 6,050 compared to current levels, and forecasts gains of + 16%. The stock was recommended at Rs 5,205 by the brokerage house, but is trading today at […]]]>

Buy Divi’s Laboratories at a target price of Rs 6,050

The brokerage believes that the action of Divi laboratories could appreciate up to a target price of Rs 6,050 compared to current levels, and forecasts gains of + 16%. The stock was recommended at Rs 5,205 by the brokerage house, but is trading today at Rs 4,812. According to the brokerage house, DIVI’s income increased 14% year-on-year to INR19.9b (INR20.4b est.), and the gross margin remained stable year-on-year at 67.1%. EBITDA margin contracted 180 bps yoy to 41.5% (est. 42.7%) due to higher other charges / personnel costs (up 150 bps / 30 bps in percentage of turnover).

“DIVI’s EBITDA increased 9% yoy to INR8.3b (INR8.7b est.) And PAT increased at a higher rate (15% yoy) to INR6.1b (INR6b est.) due to a tax rate 20.2% lower than 2QQ22. (v / s 25.1% in 2QFY21), “the brokerage said. According to the Motilal Oswal research report,” DIVI stocks stood at INR 26.8 billion at the end of 1HFY22 against INR17b / INR21.5b at the end of 1H / FY21 “.

According to Motilal Oswal, management stated that “DIVI recorded sales of Molnupiravir in fiscal year 2QFY22. Management stated that it may not commit more CAPEX on this product in the short term as it has built a sufficient capacity to meet future demand for this drug The company has started manufacturing the API Molnupiravir on all three production lines The generic sales split at CS was 46:54 in 1HFY22. of nutraceuticals amounted to INR1.6b / INR3.1b at 2Q / 1HFY22. “

“We are reducing our FY22E / FY23E EPS estimate by 5% / 2% to reflect some slowing in Generics segment sales and higher operational costs,” the brokerage firm said. Motilal Oswal said, “We are forecasting a 34% CAGR of profits in fiscal year 21-23E, thanks to the increased business prospects of CS and generics, the benefits of supplying Molnupiravir to the innovative, improved nutraceutical growth, new product additions in the generics segment, as well as approximately 240bp margin expansion on process and productivity improvements. ”The brokerage firm has also stated that “Our TP stands at INR 6,050 based on 36 times anticipated 12 month earnings. The Kakinada project is back on track. We reiterate our buy note.”

Buy IndusInd Bank at a target price of Rs 1400

Buy IndusInd Bank at a target price of Rs 1400

The brokerage expects IndusInd Bank shares to hit a target price of Rs 1,400 from current levels, implying gains of 18%. The brokerage firm recommended buying the stock at the market price of Rs 1,189, but it is now trading at Rs 1,063.65.

According to the brokerage, “the impact of COVID-19 on asset quality appears to be under control as asset quality ratios have improved, with GNPA / NNPA at 2.8% / 0.8% at 2QFY22. Collection efficiency improved to 98% in September 21.. We expect this to continue to gain traction. The restructuring portfolio remains high at ~ 3.6% v / s. However, a healthy PCR (~ 72%), coupled with a provision cushion of 1.4% of loans, brings comfort. We remain vigilant on asset quality, as slippages could remain high in the short term and moderate after FY22. We estimate that the cost of credit will remain at 2.8% / 2.0% during FY22E / FY23E and moderate at 1.8% during FY24E. The brokerage said that “IndusInd Bank has rolled out its” Planning Cycle 5 “(CY20-23), in which it will focus on strengthening its liabilities, expanding its core businesses and investing in new growth drivers. She expects the loan portfolio to increase by 15-18% during FY2-223E (retail unsecured below 5%), with a CASA ratio above 40% by FY23E. We estimate the loan portfolio will increase by 17% in FY21-24E. “

According to Motilal Oswal, “Management has maintained its forecast for loan growth and credit costs as given in the 2TQF22 results. It forecasts loan growth of 16-18% and a cost of credit of 160-190bp, plus an additional 50bp for Vodafone. Thus, the forecast of the total cost of credit is 240 bp. We estimate a loan growth CAGR of 17% on FY21-24E / cost of credit of 2.8% for FY22E and moderate it to 2.0% / 1.8% for FY23E / FY24E. “

Motilal Oswal in his research report said, “The stock may come under some pressure due to unfavorable press reports and asset quality stress reported by other MFI lenders. Nonetheless, we expect the impact to be controlled. We expect a RoA / RoE of 1.8% / 15.1% in fiscal year 23E. We maintain BUY, with an unchanged TP of INR 1,400 (1.9 x 1HFY24E ABV). “

Disclaimer

Disclaimer

The above stocks were selected from the Motilal Oswal brokerage report. Investing in stocks presents a risk of financial loss. Investors should therefore exercise caution. Greynium Information Technologies, the author and the brokerage are not responsible for any losses caused as a result of decisions based on the article.


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World Insurance Associates celebrates its 10th anniversary https://sailtheory.com/world-insurance-associates-celebrates-its-10th-anniversary/ Thu, 04 Nov 2021 13:50:37 +0000 https://sailtheory.com/world-insurance-associates-celebrates-its-10th-anniversary/ Tinton Falls, NJ, November 04, 2021 (GLOBE NEWSWIRE) – World Insurance Associates LLC (World), one of the top 100 insurance brokerage firms, today announced a milestone – its 10e year in business. The top 100 insurance brokerage – founded by banking and insurance veterans in Tinton Falls, NJ – has grown into a full-service insurance […]]]>

Tinton Falls, NJ, November 04, 2021 (GLOBE NEWSWIRE) – World Insurance Associates LLC (World), one of the top 100 insurance brokerage firms, today announced a milestone – its 10e year in business. The top 100 insurance brokerage – founded by banking and insurance veterans in Tinton Falls, NJ – has grown into a full-service insurance brokerage powerhouse with more than 1,600 employees in 155 offices across 30 States and serving over 200,000 customers.

“To say that I am grateful and touched by the success of my team over the past 10 years would be a huge understatement. I am very proud of what we have accomplished and I want to thank our dedicated and talented employees, loyal customers and business partners, ”said Rich Eknoian, Co-Founder and CEO of World. “As we celebrate this milestone, I am even more excited for the future. We’re just starting to warm up and our best days are ahead of us. “

World has driven both organic growth and acquisition growth – completing over 125 acquisitions in 10 years with a focus on agencies in specialist markets to create a comprehensive portfolio of expertise for its clients.

“Our growth is in large part due to our acquisition partners who have not only contributed their business, but more importantly, brought their talent and market expertise which has shaped World’s offering for our clients,” said said Phil Nisbet, co-founder and director of mergers. & acquisitions. “We have assembled a world class team here and I am delighted to see how far we have come and look forward to an even brighter future.”

Over the past decade, World has significantly expanded its product offering in the areas of business and personal insurance, employee benefits, financial and retirement services, and more recently, human capital management solutions. Simultaneously, World’s reach in niche industries includes specialists in hospitality, medical malpractice, transportation, self-storage facilities, cannabis, manufacturing, automotive services, professional services, construction and public entities. But the icing on the cake is World’s ability to provide personalized and personalized customer service to its customers. This unique value proposition sets World apart from the competition on both ends of the industry ranking lists.

“The ability to provide our customers of all sizes with large scale products and suppliers combined with personalized service from local agents who know your name and take your call, has been our priority since inception 10 years ago.” , Eknoian said. “I am delighted that we have achieved this goal and, as our slogan indicates, we will continue to provide our customers with ‘the best of both worlds’ for the foreseeable future. “

“It’s amazing to reflect on the last 10 years and think of how far we’ve come – from a few guys and a dream, to end where we are today is really exciting,” said Nisbet. “I am proud to say that as we continue to grow, we consistently adhere to our core values ​​of collaboration, trust, partnership and accountability – and as a result, we are disrupting conventional insurance brokerage. . “

About World Insurance Associates LLC

World Insurance Associates LLC (World) is headquartered in Tinton Falls, New Jersey, and is a full-service insurance organization providing individuals and businesses with products and services from the best suppliers combined with personalized service from local professionals. . World’s product line covers personal and business insurance, employee benefits, financial and retirement services, and human capital management solutions. Since its founding in 2011, World has made more than 124 acquisitions and serves clients in more than 154 offices across the United States. Top 50 Personal Insurance Agencies Ranked by Insurance Journal. For more information, please visit www.worldinsurance.com.

        


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Mallinckrodt Ch. 11 Audience begins with evaluation questions https://sailtheory.com/mallinckrodt-ch-11-audience-begins-with-evaluation-questions/ Mon, 01 Nov 2021 21:40:00 +0000 https://sailtheory.com/mallinckrodt-ch-11-audience-begins-with-evaluation-questions/ By Rick Archer (Nov 1, 2021, 5:40 p.m. EDT) – Mallinckrodt’s Chapter 11 plan confirmation hearing opened in Delaware bankruptcy court on Monday with testimony and questions regarding the manufacturer’s worth of drugs and the amount of money that could be collected if the case passed from reorganization to liquidation. Mallinckrodt’s value was criticized in […]]]>
By Rick Archer (Nov 1, 2021, 5:40 p.m. EDT) – Mallinckrodt’s Chapter 11 plan confirmation hearing opened in Delaware bankruptcy court on Monday with testimony and questions regarding the manufacturer’s worth of drugs and the amount of money that could be collected if the case passed from reorganization to liquidation.

Mallinckrodt’s value was criticized in the virtual hearing when a group of antitrust crimes asked if the valuation report was too optimistic about the company’s future performance and if the liquidation report was too pessimistic about the the price he could get for his non-opioid drugs.

Mallinckrodt and its subsidiaries filed for Chapter 11 a year ago, with a restructuring support agreement to reduce …

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This growth action is exploding its industry https://sailtheory.com/this-growth-action-is-exploding-its-industry/ Sat, 30 Oct 2021 10:01:00 +0000 https://sailtheory.com/this-growth-action-is-exploding-its-industry/ Most investors don’t see the banking industry as a high growth industry, especially when it comes to large cap banks which tend to grow slowly and steadily. But a large bank that has clearly stood out as a growth stock is SVB Financial Group (NASDAQ: SIVB), which has $ 191 billion in assets and is […]]]>

Most investors don’t see the banking industry as a high growth industry, especially when it comes to large cap banks which tend to grow slowly and steadily. But a large bank that has clearly stood out as a growth stock is SVB Financial Group (NASDAQ: SIVB), which has $ 191 billion in assets and is the parent company of Silicon Valley Bank. The stock has collapsed since the start of the pandemic in early 2020 and has increased by more than 150% from last year. After its latest third quarter results, I’m confident to say that this is a growth stock that is at the top of its industry. Here’s why.

Incredible growth and profitability

It is not always easy for a bank to grow and achieve good profitability – usually one comes at the expense of the other. But since the pandemic, SVB has made superb returns and is growing the bank at an incredibly rapid rate. SVB is a niche bank that caters to start-up, venture capital and private equity communities through four divisions: commercial banking, private banking and wealth management, investment banking and fund management. Businesses complement each other well and create a lot of cross-selling opportunities.

After the pandemic started in March 2020, private markets loaded themselves with dry powder and simply took off, and they haven’t slowed down since. Global private equity and venture capital investments in the first nine months of 2021 have already exceeded total investment every year since 2017. There have also been more initial public offerings funded by venture capital in the past. during the third trimester than any year since 2017.

Image source: Getty Images.

This has translated into significant growth and profitability for SVB, which over the past year has more than doubled its balance sheet to approximately $ 191 billion in assets. Suddenly, a niche bank quickly becomes one of the largest regional banks in the country. With all the venture capital and private equity investments, SVB has been able to increase lending at a much faster rate than the industry, as it provides these companies with short-term lines of credit so that ‘they can quickly execute their investments.

While SVB’s third quarter results were affected by some one-time acquisition costs, in the first nine months of the year the bank generated a return of almost 1% on assets and a return of 19 , 4% on average equity, despite the massive growth in its leaf balance.

Develop an excellent suite of products

SVB has also banked a large number of start-ups since their inception, and when it agrees to bank a business that is generally too risky for a bank, it often receives warrants in exchange for taking the risk. If this start-up eventually goes public or perhaps is acquired, these warrants or other agreements turn into great rewards for SVB.

The SVB Leerink investment banking division also performed very well, benefiting from all of the recent IPO and M&A activity. Working with start-ups and banking them from the start clearly gives SVB a great foray into when the time comes for investment banking to get involved. Management is also investing heavily in this division, having hired 87 new investment bankers in 2021 alone, more than doubling the unit and adding new capacity.

The final piece of the puzzle is in wealth management and private banking, which are great deals to have when working with all of these high net worth individuals. Earlier this year, SVB announced the acquisition of Boston Private Financial Holdings, which catapulted its private banking assets under management (AUM) from $ 1.6 billion to nearly $ 20 billion. Management has previously said that Boston Private presents a cross-selling opportunity among the bank’s existing clients of approximately $ 400 billion when considering the wealth management opportunity, as well as the lending and deposit capabilities. that Boston Private brings.

Orientation is exciting

As it has done throughout the year to the delight of investors, SVB management has raised its forecasts for 2022. The bank expects average loan balances to increase by the order of by 20%, while average deposits are expected to increase by another 40%. after having already increased by around 78% since the end of 2020. Meanwhile, management expects net interest income, the money the bank earns on loans and securities after covering its cost of financing , are expected to grow in the order of 30% and basic costs. revenues are also expected to grow by around 20%. All of this bodes well for profitability in 2022.

Management has even gone so far as to say that in the long term and in a low interest rate environment, where the fed funds rate is between 0% and 2.5%, they believe that SVB can generate a return on equity. constant of about 15%. and annual growth in earnings per share of 10% on an annualized basis. SVB is trading at a high premium – and rightly so – but the bank is growing like a gangbuster and the company has never been better positioned, in my opinion.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are heterogeneous! Questioning an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.


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Empire Life Third Quarter 2021 Results Show Strong Earnings, Strong Sales https://sailtheory.com/empire-life-third-quarter-2021-results-show-strong-earnings-strong-sales/ Thu, 28 Oct 2021 20:44:00 +0000 https://sailtheory.com/empire-life-third-quarter-2021-results-show-strong-earnings-strong-sales/ CEO Marc Sylvie team credits resilience and commitment Highlights of Q3 2021 (compared to Q3 2020) Highlights of the third quarter of the year 2021 (compared to the current year in 2020) Net income of ordinary shareholders of $ 222 million compared to $ 67 million Earnings per share (basic and diluted) of $ 225.70 […]]]>

CEO Marc Sylvie team credits resilience and commitment

Highlights of Q3 2021 (compared to Q3 2020)

Highlights of the third quarter of the year 2021 (compared to the current year in 2020)

  • Net income of ordinary shareholders of $ 222 million compared to $ 67 million

  • Earnings per share (basic and diluted) of $ 225.70 compared to $ 68.28

  • Return on equity (“ROE”) of 16.4% vs. 8.9%

KINGSTON, ON, 28 October 2021 / CNW / – The Empire Life Insurance Company (“Empire Life”) today reported net income from common shareholders of $ 33 million for the third quarter of 2021, compared to $ 51 million in 2020. The net profit of ordinary shareholders since the beginning of the fiscal year was $ 222 million compared to $ 67 million in 2020.

Empire Life Logo (CNW Group / The Empire Life Insurance Company)

The decrease in profit for the third quarter is mainly attributable to lower net profit from the individual insurance business and unrealized and realized losses on assets in the Capital segment and excess over gains for the same period in 2020. revenues increased, mainly due to the release of segregated fund guarantee reserves in the first quarter of 2021.

“Sales in our three lines of business are strong and we had a very successful debt issuance at the end of the quarter which allowed us to continue to grow and invest in our business,” said Marc Sylvie, President and CEO. “We are satisfied with our overall results and the continued trend of growth in our premium and fee income. As we meet the challenges of the pandemic, we continue to adjust our business and workforce models. Our employees have demonstrated incredible resilience and commitment to our customers, distribution partners, shareholders and to each other. It is their support and dedication that enables us to achieve such positive results. “

Financial Highlights

Third quarter

Year to date

(in millions of dollars except per share amounts)

2021

2020

2021

2020

Net income of ordinary shareholders

$

33

$

51

$

222

$

67

Earnings (loss) per share – basic and diluted

$

33.78

$

51.91

$

225.70

$

68.28

Sep 30

June 30th

March, 31st

Sep 30

Other financial highlights

2021

2021

2021

2020

Return on common shareholders’ equity (next four quarters) ¹

16.4%

18.5%

20.3%

8.9%

Total LICAT ratio

150%

143%

148%

132%

Sources of income¹

Third quarter

Year to date

(in millions of dollars)

2021

2020

2021

2020

Expected profit on in-force business

$

50

$

53

$

148

$

159

Impact of new business

(9)

(3)

(16)

(14)

Experience gains (losses)

(2)

(15)

144

(148)

Management actions and changes in assumptions

2

16

17

40

Operating profit before taxes

41

50

293

37

Profit on surplus

4

23

7

62

Income before income tax

45

73

300

99

Income taxes

ten

19

72

21

Shareholders’ net profit

35

55

228

77

Dividends on preferred shares

(1)

(3)

(6)

(ten)

Net income of ordinary shareholders

$

33

$

51

$

222

$

67

Expected profit on in-force business decreased 6% for the third quarter and 7% for the year to date, mainly due to the Wealth Management line.

The impact of new business increased in the third quarter of 2021, mainly due to increased pressure from the individual insurance line. Over the year to date, the impact of new business has increased compared to the same period in 2020, mainly due to an increase in tension in the Wealth Management and Employee Benefits lines partially offset by the result in cause in the Individual Insurance line. The impact of new business on the individual insurance line is positive, creating a profit on issue, when the present value of future profits from new business exceeds the sum of the margins of the initial policy liabilities for that business plus expenses. incurred at the time of sale.

The decrease in experience losses in the third quarter of 2021 is mainly explained by experience gains in the Wealth Management line, partially offset by experience losses in the Individual Insurance and Social Benefits lines. For the year to date, experience gains are mainly attributable to a reduction in policy liabilities for segregated fund benefit guarantees, compared to an experience loss resulting from a strengthening of these guarantee liabilities in the year to date. first semester of 2020.

Management actions and changes in assumptions were driven by management’s continued activities to improve the asset and liability matching, contributing to positive net gains in the individual insurance business.

Profit on surplus decreased for the third quarter and year-to-date mainly due to losses realized on assets assessed as available for sale (AFS) in this segment compared to gains realized for the periods comparable in 2020. The capital adequacy test of the company’s life insurance (LICAT) The total ratio was 150% at September 30, 2021 against 136% at December 31, 2020, well above the requirements set by the Office of the Superintendent of Financial Institutions Canada (OSFI) as well as Empire Life’s minimum internal targets.

At October 26, 2021, the Company announced its intention to repurchase, the December 16, 2021, all its exceptional $ 200 million 3.383% Unsecured Subordinated Debentures, Series 2016-1 due December 26, 2026, at a redemption price of 100% of the principal amount, plus any accrued and unpaid interest up to the Redemption Date, but to the exclusion.

The buyout was approved by the Office of the Superintendent of Financial Institutions. After giving effect to the repurchase, the Total LICAT Ratio at September 30, 2021 would have been 142%.

Non-IFRS measures
Empire Life uses non-IFRS measures including return on common shareholders’ equity, source of earnings, assets under management, annualized premium sales, gross and net mutual fund sales, segregated funds and fixed annuities to provide investors with additional measures of its operating performance and to highlight trends in its core business that might otherwise not be apparent based solely on financial measures in International Standards of financial information. Empire Life also believes that securities analysts, investors and other interested parties frequently use non-IFRS measures in the valuation of issuers.

Additional information
All amounts are in Canadian dollars and are based on the unaudited consolidated financial results of Empire Life for the period ended September 30, 2021. Additional information on Empire Life can be found in Empire Life’s latest MD&A and Annual Information Form. These documents are filed on the Empire Life profile available at www.sedar.com.

About Empire Life
Founded in 1923 and a subsidiary of EL Financial Corporation Limited, Empire Life offers individual and group life and health insurance, investment and retirement products. The company’s mission is to make it simple, fast and easy for Canadians to get the products and services they need to build wealth, generate income and achieve financial security. From September 30, 2021, Empire Life had total assets under management of $ 19 billion. Follow us on social media @EmpireLife or visit empire.ca for more information.

SOURCE The Empire Life Insurance Company

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Cilta-Cel Demonstrates Strong, Lasting Responses In Relapsed / Refractory Myeloma https://sailtheory.com/cilta-cel-demonstrates-strong-lasting-responses-in-relapsed-refractory-myeloma/ Wed, 27 Oct 2021 18:04:56 +0000 https://sailtheory.com/cilta-cel-demonstrates-strong-lasting-responses-in-relapsed-refractory-myeloma/ Ciltacabtagene autoleucel (cilta-cel) demonstrated robust and durable early responses after a single dose in a population of heavily pretreated multiple myeloma patients, according to updated results from the Phase 1b / 2 CARTITUDE-1 trial (NCT03548207) presented during the SOHO 2021 Annual Meeting.1 At a median follow-up of 18 months, CAR T cell therapy elicited an […]]]>

Ciltacabtagene autoleucel (cilta-cel) demonstrated robust and durable early responses after a single dose in a population of heavily pretreated multiple myeloma patients, according to updated results from the Phase 1b / 2 CARTITUDE-1 trial (NCT03548207) presented during the SOHO 2021 Annual Meeting.1

At a median follow-up of 18 months, CAR T cell therapy elicited an overall response rate (ORR) of 97.9%, with a strict complete response rate (CRs) of 80.4%, a very good response partial or better of 94.8%, and a partial response of 3.1%. Notably, response rates with cilta-cel were found to be comparable across different subgroups examined, including previous lines of treatment, resistance, extramedullary plasmacytomas, and cytogenetic risk.

In addition, the safety profile of the agent has remained consistent with its mechanism of action. No new safety signals were reported with longer follow-up, underscoring the success of the new patient management approaches that were implemented in the study to mitigate the incidence of neurotoxicity.

“Cilta-cel is [currently] under investigation in the CARTITUDE-2 phase 2 trial in progress [NCT04133636] and phase 3 CARTITUDE-4 [NCT04181827] trial in first-line settings, ”said lead author of the study, Saad Z. Usmani, MD, division chief of plasma cell disorders at Levine Cancer Institute, Atrium Health, in a data presentation.

Cilta-cel is a CAR T cell therapy with 2 single domain antibodies targeting BCMA. Previous data from CARTITUDE-1 have shown that at a median follow-up of 12.4 months, the agent induces an ORR of 97%, with a CRs of 67%. The 12-month progression-free survival (PFS) rate was 77% and the 12-month overall survival (OS) rate was 89%. At the meeting, investigators presented updated results with a median follow-up of 18 months.

To be eligible for recruitment, patients had to have a confirmed diagnosis of progressive multiple myeloma, according to the criteria of the International Myeloma Working Group; they must also have received at least 3 previous treatments or be doubly refractory. In addition, patients had to have measurable disease, an ECOG performance index of 0 or 1, and have received prior treatment with proteasome inhibitors, immunomodulatory drugs, or anti-CD38 therapy.

Participants enrolled in the study underwent 28 days of screening prior to apheresis; this was followed by bridging therapy as needed. Subsequently, patients underwent lymphodepletion with cyclophosphamide at a dose of 300 mg / m2 and fludarabine at a dose of 30 mg / m2 on days -5 to -3 before the infusion. On day 1, patients were infused with cilta-cel at a target dose of 0.75 x 106 (range, 0.5-1.0 x 106) viable CAR-positive T cells / kg. The median dose administered was 0.71 x 106 viable CAR-positive T cells / kg.

Post-infusion evaluations focused on examining the safety, efficacy, pharmacokinetics and pharmacodynamics of the agent, as well as biomarker testing.

The primary endpoint of the phase 1b part of the study was to characterize the safety of cilta-cel and to determine the recommended phase 2 dose. The primary endpoint of the phase 2 part of the trial was efficacy, in particular ORR.2

A total of 113 patients were included and underwent apheresis, 101 underwent lymphodepletion and 97 were treated with cilta-cel. Among those who received CAR T-cell therapy, 29 patients were included in the phase 1b part of the study (n = 23 in progress) and 68 were included in the phase 2 part (n = 53 in Classes).

Overall, 73 patients received transition therapy, and the median turnaround time for CAR T cell therapy was 29 days (range, 23-64). Notably, no patient discontinued due to manufacturing failure, and only one patient received retreatment with cilta-cel.

The median age of the patients included in the study was 61.0 years (range, 43-78), 58.8% were male, and 17.5% were Black / African American. Additionally, 13.4% had extramedullary plasmacytomas and 6.2% had bone plasmacytomas. Just over 20% (21.9%) had 60% or greater bone marrow plasma cells.

The median number of years since diagnosis was 5.9 (range, 1.6-18.2), and 23.7% of patients had a high-risk cytogenetic profile. In addition, most patients had tumor BCMA expression of 50% or greater (91.9%) and had received at least 5 prior lines of treatment (66.0%). The median number of previous treatments received was 6 (range, 3-18). In particular, 87.6% of patients were refractory to the triple class, 42.3% were refractory to penta-drugs and 99.0% were refractory to their last line of treatment received.

Additional data showed that the median duration of response (DOR) with cilta-cel was 21.8 months (95% CI, 21.8 – not evaluable [NE]). It is estimated that 73% of patients did not experience disease progression or death at 12 months, and the median DOR was not reached in those who achieved CRs. The median time to first response with CAR T-cell therapy was 1 month (range: 0.9-10.7), and the median time to best response and CR or greater was 2.6 months (range, 0.9-15.2).

Among 61 patients evaluable for minimal residual disease (MRD), 91.8% had negative MRD status at 10-5, compared to 57.5% of all patients (n = 97). In patients with CR or better, these rates were 89.4% and 43.3%, respectively. The median time to MRD 10-5 negativity was 1 month (range 0.8-7.7).

The median PFS with cilta-cel was 22.8 months (95% CI: 22.8 – NE). In addition, the rate of PFS at 18 months in all patients was 66.0% (95% CI, 54.9% to 75.0%) versus 75.9% (95% CI, 63.9%). at 84.5%) among those who obtained CRs. The OS rate at 18 months in all patients was 80.9% (95% CI: 71.4% -87.6%).

In terms of safety, 94.8% of patients experienced a cytokine release syndrome (CR) event; the median time to onset was 7 days (range, 1-12) and the median time was 4 days (range, 1-97). Most of these cases were grade 1 or 2 (94.6%) severity and most resolved within 14 days of onset (98.9%). In addition, 2.1% of patients developed immune effector cell-associated neurotoxicity syndrome (ICANS) grade 3 or higher, and 9.3% developed other neurotoxicity grade 3 or higher.

The most common grade 3/4 hematologic adverse reactions (AEs) with CAR T cell therapy included neutropenia (94.8%), anemia (68.0%) and leukopenia (60.8%) . The most common grade 3 or higher non-haematologic AEs were hypophosphatemia (7.2%), fatigue (5.2%), and increased aspartate transaminase (5.2%).

Mitigation strategies employed in this study to reduce the incidence of neurotoxicity included: improved transition therapy to reduce tumor burden; early and aggressive treatment of CRS and ICANS; and an extended monitor, including handwriting assessments.

The references

  1. Usmani S, Berdeja JG, Madduri D, et al. Updated results of ciltacabtagene autoleucel (cilta-cel), a b-cell maturing antigen (BCMA) directed by chimeric antigen T receptor (CAR-T) cell therapy in relapsed / refractory multiple myeloma ( RRMM). Presented at: SOHO 2021 Annual Meeting; from September 8 to 11, 2021; Virtual. Abstract MM-119.
  2. A study of JNJ-68284528, a chimeric antigen receptor (CAR-T) T cell therapy directed against B cell maturation antigen (BCMA) in participants with relapsed or refractory multiple myeloma (CARTITUDE- 1). ClinicalTrials.gov. Updated December 31, 2020. Accessed September 10, 2021. https://clinicaltrials.gov/ct2/show/NCT03548207


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GroupAssur expands its offering with the acquisition of Eagle Underwriting https://sailtheory.com/groupassur-expands-its-offering-with-the-acquisition-of-eagle-underwriting/ Tue, 26 Oct 2021 10:00:00 +0000 https://sailtheory.com/groupassur-expands-its-offering-with-the-acquisition-of-eagle-underwriting/ GroupAssur expands its presence in North America by acquiring Ontario-Based Eagle Underwriting MONTREAL, October 26, 2021 / CNW Telbec / – GroupAssur, a Canadian managing general agent (“MGA”) specializing in property and casualty insurance (“P&C”), today announced the acquisition of Eagle Underwriting (“Eagle”), an independent managing agent who has been underwriting insurance for ‘Things That […]]]>

GroupAssur expands its presence in North America by acquiring Ontario-Based Eagle Underwriting

MONTREAL, October 26, 2021 / CNW Telbec / – GroupAssur, a Canadian managing general agent (“MGA”) specializing in property and casualty insurance (“P&C”), today announced the acquisition of Eagle Underwriting (“Eagle”), an independent managing agent who has been underwriting insurance for ‘Things That Move’, providing top quality products, underwriting expertise and first class claims service to brokers and their clients in Canada and United States. Novacap, one of the from Canada leading private equity firms that have held a majority stake in GroupAssur since 2020, is pleased to see GroupAssur act on its goals of improving its offering and expanding its presence beyond Canadian borders.

Logo: Groupassur (CNW Group / Gestion Novacap inc.)

Founded in 1996, Eagle Underwriting is an expert in the field of transportation, trade and movable property. With this portfolio acquisition, GroupAssur will add new product lines to its offering and acquire the expertise necessary to insure clients operating in the highly complex marine, freight and aviation sectors. This will also support GroupAssur’s international growth objectives, as Eagle already has policies relating to freight transport in United States.

Eagle’s underwriting will continue to operate under its existing structure and brand name. Current management and shareholders will remain on board, under the leadership of Bernie Cisseck, President of Eagle Underwriting.

“Eagle is honored to join GroupAssur, expanding its line of specialty insurance products,” said Bernie Cissek, President of Eagle Underwriting. “Their excellent reputation for competitive underwriting initiatives, complemented by our unique service offering and in-depth industry knowledge, will provide GroupAssur with the tools it needs to grow its business with new audiences and new geographies. “

“Today’s announcement marks an important milestone for GroupAssur,” said Jean-Francois Raymond, Chairman of GroupAssur. “Our goal has been to build the best MGA platform in Canada. With the integration of Eagle’s expertise, we will go beyond the goals we have set for ourselves, opening a door to the US market and moving forward into our next phase of growth. “

About GroupAssur

Founded in 1993 by a group of brokers united to provide services to large corporations, GroupAssur is an MGA serving the specialized insurance needs of brokers and clients across Canada. The company provides complex insurance policy underwriting services on behalf of Canadian insurance companies, international insurance companies and Lloyd’s of London insurance unions. GroupAssur is headquartered in Montreal, QC, with additional offices in Quebec city, Terrebonne and Brossard, QC, and Markham, Ontario. For more information, please visit www.groupassur.com

About Eagle Underwriting

Eagle Underwriting is an independent managing agent, founded in 1996 by the current president, Bernie Cissek, and has offices in Brampton, Ontario and Vancouver, British Columbia. Eagle has purchased insurance for “Things That Move”, providing premium products, underwriting expertise and first-class claims service to brokers and their clients. For more information, please visit www.eagleunderwriting.com

About Novacap

Founded in 1981, Novacap is a leading North American private equity firm with more than CA $ 8 billion AUM, which has invested in more than 100 platform companies and made more than 150 complementary acquisitions. By applying its industry approach since 2007 in TMTs, industries, digital infrastructure and now financial services, Novacap’s deep expertise in the field can accelerate business growth and create long-term value. With experienced and dedicated investment and operations teams as well as substantial funding, Novacap has the resources and knowledge to build world-class businesses. Novacap has offices at Brossard, Quebec and Toronto, Ontario. For more information, please visit www.novacap.ca.

SOURCE Gestion Novacap inc.

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View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2021/26/c8579.html


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Jonathan Toews and Blackhawks back Jeremy Colliton after spiral continues – NBC Chicago https://sailtheory.com/jonathan-toews-and-blackhawks-back-jeremy-colliton-after-spiral-continues-nbc-chicago/ Mon, 25 Oct 2021 03:48:15 +0000 https://sailtheory.com/jonathan-toews-and-blackhawks-back-jeremy-colliton-after-spiral-continues-nbc-chicago/ Toews and Hawks back Colliton after spiral continues originally appeared on NBC Sports Chicago The Blackhawks had their worst start since the 1999-2000 season when they went 0-4-4-0 in their first eight games. And it went from bad to worse on Sunday. Less than 24 hours after the Detroit Red Wings were beaten 6-1 by […]]]>

Toews and Hawks back Colliton after spiral continues originally appeared on NBC Sports Chicago

The Blackhawks had their worst start since the 1999-2000 season when they went 0-4-4-0 in their first eight games. And it went from bad to worse on Sunday.

Less than 24 hours after the Detroit Red Wings were beaten 6-1 by the winless Montreal Canadiens, the Blackhawks were kicked out of their own building for their sixth straight loss and booed each other off the ice one night when the sold-out streak ended at 535 games. . The Arizona Coyotes are the only other winless team this season, and the frustration grows by the second.

“It’s a horrible feeling,” said Jonathan Toews after a 6-3 loss. “I don’t think there are a lot of guys who have been through something like this before, especially starting a season.”

The Blackhawks have managed to pull off some positives in their previous two games, whether it was a solid defensive effort or a special unit that continues to be successful. They couldn’t do it after Sunday’s performance.

It was a deplorable loss, and head coach Jeremy Colliton looked as downcast and disappointed as ever.

“It’s a step back from the last two games,” said Colliton. “Too much of tonight is a throwback to things that got us in trouble on the road trip and we paid the price for it. There are no secrets as to what we need to do. think everyone knows that. We have to find a way. “

The Blackhawks are desperate for answers, and that dialogue seemed to continue immediately after the game. Toews was the first player to speak to the media, but it took an unusually long 25 minutes from when the last horn sounded until when he walked over to the microphone, indicating that some sort of meeting took place behind closed doors.

“The details of what is said in the locker room always stay in the locker room,” Toews said. “But you can imagine we’re just trying to get ourselves out of the hole we’ve been in for six games here. It’s not a good feeling.

“Ultimately the solution is in our locker room. It’s everyone. So I think everyone is trying to take responsibility for how he can be better and help our team and get the win column . “

Of course, when a team stumbles so badly out of the gates, the heat usually rises on the bench boss, although the temperature should increase for everyone at this point, including President / CEO Stan Bowman. Expectations weren’t for the Stanley Cup or loss at the start of the season, but the Blackhawks absolutely expected to be a playoff team and they look far from it right now.

Patrick Kane was the first to express his faith in Colliton on the road trip, and the Chicago head coach received more votes of confidence from his management group on Sunday when questioned directly on this subject.

“The team have 100% confidence in Jeremy,” said Seth Jones. “I’ve been here for a short time, but his message has been great for us. In summary, there’s not much a coach can do. He’s not going to tie them up for you.

“At the end of the day, it’s not a coaching problem. It’s a matter of the locker room. It’s the players on the ice who play the game. We all have to find a way to be on the same page and have a common goal of how we want to play and what our identity is. “

The Blackhawks captain echoed those sentiments.

“Of course,” Toews replied. “There are details in our game that when we’ve done them and we stick to them we have four lines that get it right, it’s a fun way to play and everyone feeds on it. But we haven’t done enough.

“As a group we want to decide to do it, to commit to each other. It’s not like we decided to wait six games to do it, but there were times when we did. ‘ve done, it just wasn’t enough and wasn’t good enough.

“We have to find a way to engage with each other and I think that’s what we want to do. We want to start winning games, we want to have fun playing hockey because we know we are underperforming a lot. So that’s disappointing. “

Colliton was repeatedly asked if he felt any pressure and his response did not falter. Even after Sunday, he still feels he has the support of the management group.

But Colliton has never been one to worry about his professional status. What keeps him awake at night is how he can improve the Blackhawks and get this team out of a hole.

“There are no secrets on how we should play,” said Colliton. We know what to do. It’s up to me to find a way to get it translated. “

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Murfreesboro City Council Approves Water and Sewer Modernization | New https://sailtheory.com/murfreesboro-city-council-approves-water-and-sewer-modernization-new/ Fri, 22 Oct 2021 14:30:00 +0000 https://sailtheory.com/murfreesboro-city-council-approves-water-and-sewer-modernization-new/ Country united states of americaUS Virgin IslandsMinor Outlying Islands of the United StatesCanadaMexico, United Mexican StatesBahamas, Commonwealth ofCuba, Republic ofDominican RepublicHaiti, Republic ofJamaicaAfghanistanAlbania, People’s Socialist Republic ofAlgeria, People’s Democratic Republic ofAmerican SamoaAndorra, Principality ofAngola, Republic ofAnguillaAntarctica (the territory south of 60 degrees S)Antigua and BarbudaArgentina, Argentine RepublicArmeniaArubaAustralia, Commonwealth ofAustria, Republic ofAzerbaijan, Republic ofBahrain, Kingdom ofBangladesh, […]]]>


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