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New Mobile App From Principal Helps Make Retirement Account Transactions Quick and Easy

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DES MOINES, Iowa–(BUSINESS WIRE)–Taking the best of human-centered design and holistic participant experience, Principal Financial Group® has launched a new mobile app to retirement plan customers. The native-built app leverages biometrics, education and on-the-go account access to help instill confidence and make transactions quick and easy.

The newly designed app is the latest in a string of customer experience enhancements, including the launch of ARAG will preparation services, educational content, HSA account integration and an Amazon Alexa Flash Briefing skill to share financial tips.

“We don’t expect customers to interact with their 401(k) account every single day. But we know that when they want to check their account or make changes, it needs to be a seamless experience,” said Joleen Workman, vice president of customer care at Principal®. “The app has the transactional excellence that people expect, coupled with moments of education and celebration to help our customers build confidence. Retirement planning doesn’t have to feel complex when the industry doesn’t make it hard.”

The Principal app will still have capabilities for insurance customers available, and there are planned enhancements to the app in the coming months. A previous Principal app was sunset in March as part of the transition.

About Principal®

Principal helps people and companies around the world build, protect and advance their financial well-being through retirement, insurance and asset management solutions that fit their lives. Our employees are passionate about helping clients of all income and portfolio sizes achieve their goals – offering innovative ideas, investment expertise and real-life solutions to make financial progress possible. To find out more, visit us at principal.com.

Contacts

Hillary Carlson, 515.878.1460, carlson.hillary@principal.com

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Business and Management

CORRECTING and REPLACING AM Best Affirms Credit Ratings of Grupo Nacional Provincial S.A.B.

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MEXICO CITY–(BUSINESS WIRE)–Sixth paragraph, last sentence of release should read: As of June 2019, the company continued to post adequate underwriting results, investment yield and net income of MXN 2.4 billion (instead of MXN 2.4 million).

The corrected release reads:

AM BEST AFFIRMS CREDIT RATINGS OF GRUPO NACIONAL PROVINCIAL S.A.B.

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent), the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” and the Mexico National Scale Rating of “aaa.MX” of Grupo Nacional Provincial S.A.B. (GNP) (Mexico City, Mexico). The outlook of these Credit Ratings (ratings) remains stable.

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

GNP is the largest domestic insurer within Mexico based on gross written premiums (GWP). The company operates as a composite insurer of life and non-life business; core business segments include life, health and automobile coverage.

Dividend payments, driven by the company’s targets on capital efficiency, have partially restricted AM Best’s view of GNP’s risk-adjusted capitalization in the past. However, in recent years, GNP’s balance sheet strength, as measured by Best’s Capital Adequacy Ratio (BCAR), is very strong, having benefited from additional equity surplus due to changes in statutory accounting at year-end 2016, and positive bottom-line results during 2016-2018.

The additional equity surplus is a consequence of implementing accounting measures based on market value approximations of assets and liabilities. GNP follows conservative practices in terms of its asset-liability management. In addition, the company’s balance sheet strength is reinforced by its good reinsurance program placed with highly rated counterparties, which adequately protects the company’s risk retention. The effectiveness of these practices was demonstrated by the lack of any material impact on the company’s capital position from the September 2017 earthquakes in central Mexico.

During 2018, GNP reported 7.9% growth in GWP, while maintaining profitable business in its core segments. The company’s operating performance remained solid, having benefited from better underwriting performance metrics, and a consistent improvement in the investment income. Policies were aligned to market changes, and the pricing model was improved to gain competitiveness and market share in low risk areas. As of June 2019, the company continued to post adequate underwriting results, investment yield and net income of MXN 2.4 billion.

Positive rating actions could take place if the company is able to maintain its current level of risk-adjusted capitalization while improving its bottom-line results and profitability indicators to levels more in line with highly rated peers. Negative rating actions could take place if the company’s additional equity erodes with a sustained negative operating performance, or if the amount of dividends paid negatively impacts risk-adjusted capitalization to a level that is no longer supportive of the current rating levels.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data provider specializing in the insurance industry. The company does business in more than 100 countries. Headquartered in Oldwick, NJ, AM Best has offices in cities around the world, including London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Olga Rubo, FRM

Financial Analyst
+52 55 1102 2720, ext. 134

olga.rubo@ambest.com

Christopher Sharkey

Manager, Public Relations
+1 908 439 2200, ext. 5159

christopher.sharkey@ambest.com

Alfonso Novelo

Senior Director, Analytics
+52 55 1102 2720, ext. 107

alfonso.novelo@ambest.com

Jim Peavy

Director, Public Relations

+1 908 439 2200, ext. 5644

james.peavy@ambest.com

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Business and Management

EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims Against Live Nation Entertainment, Inc. – LYV

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NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Live Nation Entertainment, Inc. (NYSE: LYV) resulting from allegations that Live Nation may have issued materially misleading business information to the investing public.

On December 13, 2019, the Wall Street Journal reported that the U.S. Department of Justice (“DOJ”) was preparing to take legal action against Live Nation based on allegations that the company sought to “strong-arm” concert venues into using its market-dominant Ticketmaster subsidiary. Such efforts would violate the terms of a settlement agreement that Live Nation and Ticketmaster reached with the government in 2010 as a condition of their merger. Under that agreement, the DOJ allowed the companies to combine, but required them to abide by conditions meant to preserve competition in the music and ticketing industries.

As a result of this news, Live Nation’s share price fell $5.09 or 7.3% to close at 64.34 on December 13, 2019.

Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Live Nation investors. If you purchased shares of Live Nation please visit the firm’s website at http://www.rosenlegal.com/cases-register-1741.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or cases@rosenlegal.com.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contacts

Laurence Rosen, Esq.

Phillip Kim, Esq.

The Rosen Law Firm, P.A.

275 Madison Avenue, 40th Floor

New York, NY 10016

Tel: (212) 686-1060

Toll Free: (866) 767-3653

Fax: (212) 202-3827

lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

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Business and Management

Ellington Residential Mortgage REIT Announces Dividend for the Fourth Quarter of 2019

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OLD GREENWICH, Conn.–(BUSINESS WIRE)–Ellington Residential Mortgage REIT (NYSE:EARN) (the “Company”) today announced that its Board of Trustees has declared a dividend for the fourth quarter of 2019 of $0.28 per share, payable on January 27, 2020, to common shareholders of record as of December 31, 2019.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature and can be identified by words such as “anticipate,” “estimate,” “will,” “should,” “may,” “expect,” “project,” “believe,” “intend,” “seek,” “plan” and similar expressions or their negative forms, or by references to strategy, plans, or intentions. For example, our results can fluctuate from month to month and quarter to quarter depending on a variety of factors, some of which are beyond our control and/or difficult to predict, including, without limitation, changes in interest rates, changes in default rates and prepayment speeds, and other changes in market and economic conditions. Our actual results may differ from our beliefs, expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Furthermore, forward-looking statements are subject to risks and uncertainties, including, among other things, those described under Item 1A to the Company’s Annual Report on Form 10-K filed on March 8, 2019, which can be accessed through the link to our SEC filings under “For Our Shareholders” on our website (www.earnreit.com) or at the SEC’s website (www.sec.gov). Other risks, uncertainties, and factors that could cause actual results to differ materially from those projected may be described from time to time in reports we file with the SEC, including reports on Forms 10-Q, 10-K and 8-K. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

About Ellington Residential Mortgage REIT

Ellington Residential Mortgage REIT is a mortgage real estate investment trust that specializes in acquiring, investing in and managing residential mortgage- and real estate-related assets, with a primary focus on residential mortgage-backed securities for which the principal and interest payments are guaranteed by a U.S. government agency or a U.S. government-sponsored enterprise. Ellington Residential Mortgage REIT is externally managed and advised by Ellington Residential Mortgage Management LLC, an affiliate of Ellington Management Group, L.L.C.

Contacts

Investors:

Ellington Residential Mortgage REIT

Investor Relations

(203) 409-3773

info@earnreit.com
or

Media:

Amanda Klein or Kevin FitzGerald

Gasthalter & Co.

for Ellington Residential Mortgage REIT

(212) 257-4170

Ellington@gasthalter.com

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