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- 12/13/18--06:59: _Open enrollment dea...
- 12/13/18--07:21: _Joy News uncovers: ...
- 12/13/18--07:34: _Apple threw shade a...
- 12/13/18--10:16: _Health Insurance In...
- 12/13/18--10:45: _Health Insurance In...
- 12/13/18--12:48: _Premera announces i...
- 12/13/18--13:27: _Why Health Insuranc...
- 12/13/18--13:31: _Why Ciena, Qudian, ...
- 12/13/18--15:53: _Obamacare enrollmen...
- 12/13/18--19:13: _Deadline is Saturda...
- 12/13/18--22:08: _Robert Reich: The T...
- 12/13/18--22:52: _NHIA rolls out mobi...
- 12/14/18--00:55: _$13.93 Billion Heal...
- 12/14/18--02:23: _Take it from me, tw...
- 12/14/18--02:35: _Fanhua Announces Fr...
- 12/14/18--07:20: _The AIA Carnival Re...
- 12/14/18--08:06: _CORRECTION – Gouver...
- 12/14/18--13:50: _Why Health Insuranc...
- 12/14/18--15:07: _Prison time for ano...
- 12/14/18--18:07: _Texas Judge Strikes...
- 12/13/18--06:59: Open enrollment deadline Saturday
- 12/13/18--10:45: Health Insurance Innovations up 26% on regulatory settlement
- 12/13/18--12:48: Premera announces investment in Alaska
- 12/13/18--13:27: Why Health Insurance Innovations Soared Today
- 12/13/18--13:31: Why Ciena, Qudian, and Health Insurance Innovations Jumped Today
- 12/13/18--15:53: Obamacare enrollment down as deadline looms
- 12/13/18--19:13: Deadline is Saturday for Obamacare sign-ups in Washington state
- 12/13/18--22:08: Robert Reich: The Truth About Privatization – OpEd
- 12/14/18--08:06: CORRECTION – Gouverneur Bancorp Announces Fiscal 2018 Results
- 12/14/18--13:50: Why Health Insurance Innovations Plunged Today
LITTLE ROCK – The deadline for uninsured Arkansans to be certain they and their families have health insurance coverage in 2019 through the state’s My Arkansas Insurance Individual Marketplace is Saturday, Dec. 15.
Reported by Harrison Daily 6 hours ago.
Some doctors and nurses at the Tamale Teaching Hospital have been extorting monies from patients at the maternity ward in exchange for healthcare which has already been taken care of in the National Health Insurance Scheme (NHIS) programme.
Reported by Myjoyonline 6 hours ago.
· Apple announced a new campus in Austin, Texas that will support 5,000 employees.
· Unlike Amazon's HQ2 process, Apple stayed quiet during the selection process, and CEO Tim Cook said he didn't want it to be a "beauty contest."
· But ultimately Apple did the same thing as Amazon — choosing to expand in a rich and highly-educated area where it already had thousands of employees.
Some news from Apple this morning: It's expanding! Apple said in a midnight press release that it's building a new campus in Austin, Texas.
Details about the new Apple office complex include:
· An investment from Apple of $1 billion.
· A location in Williamson County, Texas just outside of Austin.
· 5,000 employees to start.
· Room to grow for as many as 15,000 employees in divisions including research and development, finance, sales, and customer support.
· Incentives from Texas include as much as $25 million in taxpayer-funded grants, and a 15-year property tax abatement possibly worth tens of millions of dollars, according to the Austin Statesman.
It's the new campus that Apple teased back in January. "The company plans to establish an Apple campus in a new location, which will initially house technical support for customers. The location of this new facility will be announced later in the year," Apple said in press release.
Apple CEO Tim Cook tried to draw contrasts between Apple's search for a new location and Amazon's "HQ2" contest, which drew international headlines.
“We’re not doing a beauty contest kind of thing,” Cook said in March. “That’s not Apple.”
Apple CEO Tim Cook on Amazon’s contest for its second headquarters location: “We’re not doing the beauty contest. That’s not Apple.” #RevolutionCHI pic.twitter.com/TAKZDx3wmO
— Recode (@Recode) March 28, 2018
Apple was drawing a contrast between Amazon's publicity-heavy approach, and Apple, which put out a press release at 2 a.m. central time.
But there's significantly more in common between the two campus selection processes than Apple would like to admit.
Both companies basically did the same thing. They announced they were building a new office, and got municipalities to come to them with various incentives, grants, and waived taxes — and then ultimately, both companies chose areas that they already had major operations in.
Apple's biggest campus outside of Silicon Valley is its existing Austin campus, which is about a mile from this new development. Apple has such deep history in Williamson County that it sparred with elected officials back in 1993 over whether it could offer health insurance and other benefits to same-sex couples that worked at Apple. (Apple ended up getting $1 million in tax incentives to build its first Austin campus.)
"At 6,200 people, Austin already represents the largest population of Apple employees outside Cupertino," Apple said in its Thursday press release.
Apple's new campus process turns out to be pretty similar to Amazon's HQ2 process, in which the company founded by Jeff Bezos got scores of cities and counties to offer it packages of various incentives, only to turn around and choose Queens, New York, and Arlington, Virginia as locations for HQ2 — rich, educated, urban areas where it already had huge operations.
Ultimately, the difference between the two processes is surface-level. Both tech giants ended up doing the same thing.
If there is a difference between the two approaches, it deals with the goals the various companies had for their new offices. Both are growing prodigiously, and would have probably needed new offices anyway to account for their swelling workforces.
But while Amazon was interested in getting the top incentives packages as well as collecting information to inform its future expansion, Apple's goals were more political.
Apple first revealed its new campus back in January, as part of an announcement after it had received $38 billion in tax benefits stemming from Republican tax reform.
In what seemed to be a quid-pro-quo to Republican politicians and President Donald Trump, Apple said in its announcement that it planned to spend $350 billion in the United States and create 20,000 jobs — talking points that Trump and his administration repeated. Tucked into that announcement, Apple said it would announce in 2018 an "Apple campus in a new location."
Much of Apple's January announcement was centered around money it would've spent and jobs it would've created anyway — and this new Austin campus is no different. Apple needs more U.S.-based call centers to maintain its high level of customer support, so it would have had to build them eventually.
By calling its planned expansion in an area which it already employs thousands a "new campus," Apple gained goodwill from politicians and some key tax breaks.
Ultimately, that's not too different from what Amazon did.
*Got a tip? Contact the author at firstname.lastname@example.org or Twitter DM. Secure messaging available upon request. *
*SEE ALSO: Everything I love and hate about the 2018 Mac Mini*
Join the conversation about this story »
NOW WATCH: Amazon wants to open 3,000 cashier-less grocery stores — and they'll have a major advantage over their competitors Reported by Business Insider 6 hours ago.
TAMPA, Fla., Dec. 13, 2018 (GLOBE NEWSWIRE) -- Health Insurance Innovations, Inc. (NASDAQ:HIIQ), a leading cloud-based technology platform and distributor of affordable individual and family health insurance and supplemental plans, announced that it will host a conference call to provide a business update today Thursday, December 13, 2018 at 1:30 p.m. ET.*Conference Call and Webcast*
To participate in the call, please dial (877) 451-6152 or (201) 389-0879; the conference ID is 13685916.
About Health Insurance Innovations, Inc. (HIIQ)
HIIQ is a market leading cloud-based technology platform and distributor of innovative health insurance products that are affordable and meet the needs of health insurance plan consumers. HIIQ helps develop insurance products through our relationships with best-in-class insurance companies and markets them via its broad distribution network of third party licensed insurance agents across the nation, its call center network and its unique online capability. Additional information about HIIQ can be found at HiiQuote.com. HIIQ’s Consumer Division includes AgileHealthInsurance.com, a website for researching, comparing and purchasing short-term health insurance products online and HealthPocket.com, a free website that compares and ranks all health insurance plans, and uses objective data to publish unbiased health insurance market analyses and other consumer advocacy research.
Health Insurance Innovations, Inc.:
Chief Financial Officer
email@example.com Reported by GlobeNewswire 3 hours ago.
Reported by SeekingAlpha 2 hours ago.
Anchorage, Ala., Dec. 13, 2018 (GLOBE NEWSWIRE) -- Premera Blue Cross Blue Shield of Alaska, through its Premera Social Impact program, today announced $212,000 in grants to four nonprofit organizations to expand behavioral health facilities and increase access to health care services.
Premera Social Impact Program, which launched in 2017, focuses on awarding grants to organizations that support behavioral health solutions, particularly in underserved communities.
“It is difficult to access services given the weather and transportation issues,” said Paul Hollie, who leads Premera Social Impact. “Promoting access to necessary care is a priority for these nonprofits, as well as for Premera.”
Grants were awarded to the following organizations:
Abused Women’s AID will receive $100,000 to expand mental health and substance abuse partnerships as well as connect women of color with culturally supportive resources.
Anchorage Project Access will receive $20,000 to expand its outreach services for individuals who experience mental illness, homelessness and other health conditions. APA works to improve health equity by providing trauma informed care to highly vulnerable low-income individuals. by helping them access health insurance and/or donated health care through extensive partnerships with local health care and homeless service providers.
My House, in Wasilla, will receive $25,000 to help teens struggling with homelessness and addiction. The program operates a café, thrift shop and drop-in center for youth in need.
NAMI Anchorage will receive $67,000 to launch a program to make support groups accessible through online offerings. This program aims to connect NAMI to families who are underserved due to barriers like transportation, childcare, access challenges or caregiver responsibilities. The nonprofit’s mission is to provide support, education, and advocacy for individuals affected by mental illness, their families, friends, and community.
To learn more about Premera Social Impact, read the company’s community giving report.
About Premera Blue Cross Blue Shield of Alaska
Premera Blue Cross Blue Shield of Alaska, which has operated in Alaska since 1952, is a not-for-profit, independent licensee of the Blue Cross Blue Shield Association. Premera and its family of companies provide comprehensive health benefits and tailored services to approximately 2 million people, from individuals to Fortune 100 companies.
CONTACT: Bo Jungmayer
Premera Blue Cross
firstname.lastname@example.org Reported by GlobeNewswire 25 minutes ago.
The health insurance platform company struck a deal with state regulators that pleased investors.
Reported by Motley Fool 1 day ago.
These companies escaped Wall Street's malaise. Find out how.
Reported by Motley Fool 1 day ago.
The deadline to sign up for health insurance through the Affordable Care Act, commonly known as Obamacare, is Saturday
Reported by CBS News 22 hours ago.
The number of people signing up for health insurance through the Washington Health Benefit Exchange is less than previous years, but not down as much as sign-ups nationally.
Reported by Seattle Times 18 hours ago.
Privatization. Privatization. Privatization. It’s all you hear from Republicans. But what does it actually mean?
Generations ago, America built an entire national highway system, along with the largest and best public colleges and universities in the world. Also public schools and national parks, majestic bridges, dams that generated electricity for entire regions, public libraries and public research.
But around 1980, the moneyed interests began pushing to privatize much of this, giving it over to for-profit corporations. Privatization, the argument went, would boost efficiency and reduce taxes.
The reality has been that privatization too often only boosts corporate bottom lines.
For example, consider Trump’s proposal for infrastructure. It depends on private developers, who would make money off of both tax subsidies and private tolls. So the public would get charged twice, without any guarantee that the resulting roads, bridges, or rapid transportation systems would be where they’re most needed.
It’s true that private for-profit corporations can do certain tasks very efficiently. And some privatization has worked. But the goal of corporations is to maximize profits for shareholders, not to serve the public interest.
The question should be: What’s best for the public? Here are five rules of thumb for when public services should not be privatized:
*1. Don’t privatize when the purpose of the service is to bring us together – reinforcing our communities, helping us connect with one another across class and race, linking **up Americans who’d otherwise be isolated or marginalized. *
This is why we have a public postal service that serves everyone, even small rural communities where for-profit private carriers often won’t go. This is why we value public education and need to be very careful that charter schools and other forms of so-called school choice don’t end up dividing our children and our communities rather than pulling them together.
*2. Don’t privatize when the service is less costly when paid for through tax revenues than through prices set by for-profit corporations. *
America’s hugely expensive for-profit health-insurance system, for example, is designed to sign up healthy people and avoid sick people, while running up huge tabs for advertising and marketing, and giving big rewards to shareholders and executives. Which is why the administrative costs of Medicare are a fraction of the costs of for-profit medical insurance – and why we need Medicare for all.
*3. Don’t privatize when the people who are supposed to get the service have no power to complain when services are poor. *
This is why for-profit prison corporations have proven again and again to violate the constitutional rights of prisoners, and why for-profit detention centers for refugee children at the border pose such grave risks.
*4. Don’t privatize when those who are getting the service have no way to know they’re receiving poor quality. *
The marketers of for-profit colleges, for example, have every incentive to exploit young people and their parents because the value of the degrees they’re offering can’t easily be known. Which is why non-profit colleges and universities have proven far more trustworthy.
*5. Finally, don’t privatize where for-profit corporations face insufficient competition to keep prices under control. *
Giant for-profit defense contractors with power over how contracts are awarded generate notorious cost overruns because they’re accountable mainly to their shareholders, not to the public.
In other words, for-profit corporations can do some things very well. Including, especially, maximizing shareholder returns. But when the primary goal is to serve the public, rather than shareholders, we need to be careful not to sacrifice the public interest to private profits. Reported by Eurasia Review 15 hours ago.
The mobile renewal of health insurance registration is to help ensure efficiency by cutting down cost whiles improving operations for quality health care, Mr Oswald Essuah-Mensah, Deputy Director, Corporate Affairs Directorate of National Health Insurance Authority (NHIA) has said.
Reported by Myjoyonline 15 hours ago.
Dublin, Dec. 14, 2018 (GLOBE NEWSWIRE) -- The "Healthcare Claims Management Market by Component (Software, and Services), Delivery Mode (On-Premise, and Cloud Based), Type (Integrated, and Standalone), End User (Healthcare Payers, Providers) - Global Forecast to 2023" report has been added to *ResearchAndMarkets.com's* offering.The global healthcare claims management market is projected to reach USD 13.93 billion by 2023 from an estimated value of USD 10.77 billion in 2018, at a CAGR of 5.3%.
The key factors driving the growth of this market are increasing patient volumes, expanding health insurance market, growing importance of denials management, and declining reimbursement rates. On the other hand, the high cost of deployment of claims management solutions could be a challenging factor for this market.
Based on delivery mode, the healthcare claims management market is segmented into on-premise and cloud-based. The cloud-based segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment can be attributed to the comparatively lower capital expenses and operational costs incurred along with better scalability, flexibility, and affordability.
Asia is expected to grow at the highest CAGR during the forecast period of 2018-2023. Factors such as the investments to modernize the healthcare infrastructure and growing adoption of healthcare IT solutions in China, measures to boost the quality of healthcare delivery in Japan, rapid growth of the healthcare industry in India, and government initiatives to boost the implementation of healthcare IT in Singapore are contributing to the high growth in Asia during the forecast period.Some of the major players in the healthcare claims management include Cerner Corporation (US), McKesson Corporation (US), athenahealth (US), eClinicalWorks (US), Optum, Inc, (US), Conifer Health Solutions (US), and nThrive (US).
*Key Topics Covered:**1 Introduction*
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
*2 Research Methodology*
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Assumptions for the Study
*3 Executive Summary *
*4 Premium Insights*
4.1 Healthcare Claims Management Solutions: Market Overview
4.2 Healthcare Claims Management Solutions Market, By End User (2018)
4.3 Healthcare Claims Management Solutions Market Share, By Type (2018 vs 2023)
4.4 Geographical Snapshot of the Healthcare Claims Management Solutions Market
*5 Market Overview*
5.2 Market Dynamics
5.2.1 Market Drivers
18.104.22.168 Increasing Patient Volumes
22.214.171.124 Expanding Health Insurance Market
126.96.36.199 Process Improvements in Healthcare Organizations
188.8.131.52 Growing Importance of Denials Management
184.108.40.206 Declining Reimbursement Rates
5.2.2 Market Restraints
220.127.116.11 High Cost of Deployment
5.2.3 Market Opportunities
18.104.22.168 Emerging Countries
22.214.171.124 Cloud-Based Solutions
126.96.36.199 Artificial Intelligence in Health Insurance
188.8.131.52 Rising Adoption of Electronic Health Records
5.2.4 Market Challenges
184.108.40.206 Integration of Claim Management Solutions
220.127.116.11 Data Breaches and Loss of Confidentiality
18.104.22.168 Lack of Skilled It Professionals in Healthcare
*6 Healthcare Claims Management Solutions Market, By Component*
*7 Healthcare Claims Management Solutions Market, By Type*
7.2 Integrated Solutions
7.3 Standalone Solutions
*8 Healthcare Claims Management Solutions Market, By Delivery Mode*
8.2 On-Premise Delivery Mode
8.3 Cloud-Based Delivery Mode
*9 Healthcare Claims Management Solutions Market, By End User*
9.2 Healthcare Payers
9.3 Healthcare Providers
9.4 Other End Users
*10 Healthcare Claims Management Solutions Market, By Region*
10.2 North America
10.3.5 Rest of Europe
10.5 Rest of the World
*11 Competitive Landscape*
11.2 Competitive Scenario
11.2.1 Product Launches, Deployments, and Enhancements
11.2.2 Agreements, Partnerships, Contracts, and Collaborations
*12 Company Profile*
12.2 Cerner Corporation
12.3 Allscripts Healthcare Solutions
12.5 Optum, Inc. (A Subsidiary of Unitedhealth Group Inc.)
12.6 Mckesson Corporation
12.7 Conifer Health Solutions
12.8 Gebbs Healthcare Solutions
12.9 The SSI Group
12.10 GE Healthcare
12.12 DST Systems
12.13 Cognizant Technology Solutions
12.14 Quest Diagnostics
12.15 Context 4 Healthcare
12.16 Ram Technologies
12.17 Health Solutions Plus (HSP)
12.18 Plexis Healthcare SystemsFor more information about this report visit https://www.researchandmarkets.com/research/3nv296/13_93_billion?w=12
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Healthcare Services Reported by GlobeNewswire 12 hours ago.
Go for dramatic reforms. Health insurance companies are interested in profits, not playing fair. I should know. I used to be a vice president at Cigna.
Reported by USATODAY.com 11 hours ago.
GUANGZHOU, China, Dec. 14, 2018 (GLOBE NEWSWIRE) -- Fanhua Inc. (“Fanhua” or “the Company”) (Nasdaq: FANH), a leading independent financial services provider in China, today announced that Fanhua Insurance Sales Service Group Company Ltd., a wholly owned subsidiary of the Company, has signed a framework agreement for strategic cooperation with Ping An Health Insurance Company of China, Ltd. (“Ping An Health”) on December 14, 2018.Pursuant to the agreement, both parties intend to deepen cooperation with each other on customization and distribution of medical insurance products while exploring opportunities to collaborate on a wider spectrum of health care insurance products and services, by leveraging on each other’s strengths, including Ping An Health’s diversified health care insurance product offerings and Fanhua’s extensive distribution network, in order to provide personalized and high quality products and services to broader groups of individuals and families in China. Zheng Yang, chairman and chief executive officer of Ping An Health and Chunlin Wang, chairman and chief executive officer of the Company were present at the agreement signing ceremony.
*About Ping An Health *
Ping An Health Insurance Company of China, Ltd., established in 2005, is a wholly-owned subsidiary of Ping An Insurance Group of China, Ltd. It has become one of the leading health insurance companies in China. It covers a large scope of health insurance services, including medical insurance, accident insurance, health insurance management, and health consultation services amongst others.
*About* *Fanhua Inc.*
Fanhua Inc. is a leading independent online-to-offline financial services provider. Through our online platforms and offline sales and service network, we offer a wide variety of financial products and services to individuals and businesses, including property and casualty and life insurance products. We also provide insurance claims adjusting services, such as damage assessments, surveys, authentications and loss estimations, as well as value-added services, such as emergency vehicle roadside assistance. Our online platforms include: (1) Lan Zhanggui, an all-in-one platform which allows our agents to access and purchase a wide variety of insurance products, including life insurance, auto insurance, accident insurance, travel insurance and standard health insurance products from multiple insurance companies on their mobile devices; (2) CNpad, a mobile sales support application; (3) Baoxian.com, an online entry portal for comparing and purchasing health, accident, travel and homeowner insurance products; and (4) eHuzhu (www.ehuzhu.com), a non-profit online mutual aid platform in China.
As of September 30, 2018, our distribution and service network is consisted of 754 sales and service outlets covering 31 provinces.
For more information about Fanhua Inc., please visit http://ir.fanhuaholdings.com/.
This press release contains statements of a forward-looking nature. These statements, including the statements relating to the Company's future financial and operating results, are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "will,""expects,""believes,""anticipates,""intends,""estimates" and similar statements. Among other things, management's quotations and the Business Outlook section contain forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about Fanhua and the industry. Potential risks and uncertainties include, but are not limited to, Fanhua’s ability to attract and retain key personnel and productive agents, its ability to maintain existing and develop new business relationships with insurance companies, its ability to execute its growth strategy, its ability to adapt to the evolving regulatory environment in the Chinese insurance industry, its ability to compete effectively against its competitors, quarterly variations in its operating results caused by factors beyond its control and macroeconomic conditions in China and their potential impact on the sales of insurance products. All information provided in this press release is as of the date hereof, and Fanhua undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although Fanhua believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Further information regarding risks and uncertainties faced by Fanhua is included in Fanhua's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F.
For more information about Fanhua Inc., please visit http://ir.fanhuaholdings.com/.
CONTACT: CONTACT: Oasis Qiu
Investor Relations Manager
Tel: (8620) 83883191
Email: email@example.com Reported by GlobeNewswire 11 hours ago.
HONG KONG, CHINA - Media OutReach - December 14, 2018 - The AIA Carnival opened today, amid much anticipation for this being the best Carnival in Hong Kong yet, as it celebrates its 5th edition of the event.
As in previous years, The AIA Carnival will take place over the period of time when the people of Hong Kong and its visitors joyfully farewell the year that has been, and welcome in the year that lies ahead. The AIA Carnival opens on 14th December 2018 and will run through until 17th of February 2019, and will celebrate Christmas, New Year's Eve, Chinese New Year and Valentine's Day.
The AIA Carnival has become a synonymous part of the festive season for families and friends from Hong Kong and abroad and once again organisers are anticipating over 1,000,000 visitors during its 66-day duration. It returns with all the favourite rides and games, with new entertainment and food and beverage offering -- and the widely acclaimed Great Circus of Europe from the United Kingdom. This time, the circus is led by its new Ring Mistress, the stunning Miss Hayley Gandey, who is the fourth-generation child of the renowned Gandey's Circus. The entirely new range of acts includes arguably the world's Strongest Man, the Rubber Man, a Cloud Swing, the London Showgirls and a giant double space wheel - among several other acts debuting in Hong Kong for the first time.The ever-popular skill games return over one million new plush toys to win, featuring characters from Baby Groot Game, Jurassic World, Shopkins, Minion Football, Guardians of the Galaxy, Star Wars and many more.Food and beverage will be taken to a whole new level with the help of Hong Kong celebrity chef Christian Yang, known as 'the Culinary Magician', who will be introducing a special range of Carnival-themed "Carnival Eats". The entire Carnival site will be brought to life with giant, lighted selfie installations and a variety of free entertainment will take place on the Community Stage including DJs, small orchestras, youth performances, dance showcases, hip hop and more.As title sponsor, AIA introduces lots of surprises and exciting experiences to the Carnival each year. To celebrate AIA Group's centenary in 2019, a six-metre high "AIA 100 ‧ Water Curtain" is specially built, where visitors can choose their greetings and have it projected on the huge water curtain message board, illuminated by dynamic and vibrant lighting effects. A video will be taken to capture the precious moment so that visitors can share and celebrate with family and friends. Visitors can also take photos with a gigantic three-metre-tall birthday cake decorated with birthday wishes written in the local languages of the 18 markets where AIA operates.Mr. Knattapisit Krutkrongchai, Chief Marketing Officer of AIA Hong Kong & Macau, said, "The AIA Carnival has become a highly-anticipated annual festive celebration and a not-to-be-missed family attraction for the people of Hong Kong. We are delighted to be the title sponsor of The AIA Carnival for the fifth consecutive year. Through this sponsorship, we are able to share joyful moments with people in our community, creating lifelong memories with and for them. 2019 marks the 100th anniversary of the AIA Group, and we have incorporated many centenary-themed decorations in this year's Carnival. While enjoying a heart-warming festive season at The AIA Carnival, we hope visitors can also experience AIA's companionship and care, as well as its unwavering commitment to helping them live healthier, longer, better lives."Mr. Alex Gibbs, Chief Marketing Officer for The Great European Carnival Limited, commented: "Each year we strive to create new and exciting experiences for our guests, and as this is our 5th Carnival we have really gone above and beyond to try and exceed expectations. Last year The AIA Carnival hit a 97% approval rate -- unheard of in this business - and we are delighted and proud to be delivering this annual entertainment spectacle for the people of Hong Kong and its visitors".Fans of the Carnival should follow the Facebook (www.facebook.com/AIACarnival/
Throughout December and January, The AIA Carnival will be running a series of competitions which will give the Hong Kong public an opportunity to win great prizes. To find out more information to participate, register to sign up for our newsletter at www.TGEC.asia
The AIA Carnival tickets:
Adult HKD130 includes entry and 10 tokens
HKD50 entry only
Child HKD90 includes entry and 7 tokens
HKD50 entry only
The Great Circus of Europe tickets:
The Great Circus of Europe opens on December 14 until February 17, running 2-4 shows per day from Tuesday to Sunday.
Rear (Block A, H) HKD150
Standard (Block B, G) HKD200
Premium (Block C, D, E, F) HKD250
VIP Ringside Tickets HKD400
(The Great Circus of Europe tickets are subject to HKD10 service charge)
January 11, 2019 is not open to public.
Terms and Conditions apply. Please refer to www.tgec.asia
(seventh from left); Mr. Alex Gibbs, Chief Marketing Officer for The Great European Carnival Limited (sixth from left); Ms. Hayley Gandey, Ring Mistress of the Great Circus of Europe
(fifth from left); Mr. Christian Yang, Hong Kong celebrity chef (fourth from left)
and artistic performers pictured in front of the gigantic three-metre-tall birthday cake created to celebrate AIA Group's centenary in 2019, and the 5th edition of The AIA Carnival.Mr. Knattapisit Krutkrongchai, Chief Marketing Officer of AIA Hong Kong & Macau
(fifth from left); Mr. Alex Gibbs, Chief Marketing Officer for The Great European Carnival Limited (sixth from left) and Ms. Hayley Gandey, Ring Mistress of the Great Circus of Europe (fourth from left) and Mr. Christian Yang, Hong Kong celebrity chef (first from left) experience the six-metre high "AIA 100‧Water Curtain" specially built to celebrate AIA Group's centenary in 2019. Ringmistress, Hayley Gandey of The Circus of Europe and her crew making a big comeback to The AIA Carnival this year.AERIAL CRADLE - Cuban artists bring the hypnotic salsa rhythms to this aerial casting and catching display.
*About The Great European Carnival Limited (TGEC)*
The Great European Carnival Limited is the producer of the annual Hong Kong event now known widely as The AIA Carnival. The Great European Carnival takes place between December and February each year, on the Central Harbourfront Event Space. The event features amusement rides, carnival skill games, performances on a community stage and The Great Circus of Europe. This year The AIA Carnival will run at the Central Harbourfront Event Space from December 14, 2018 to February 17, 2019.
*About AIA Hong Kong and AIA Macau*
AIA Hong Kong and AIA Macau are subsidiaries of AIA Group Limited. AIA Group Limited established its operations in Hong Kong in 1931. To date, we have over 15,000 AIA financial planners1, as well as an extensive network of brokerage and bancassurance partners. We serve over 3 million customers2, offering them a wide selection of professional services and products ranging from individual life, group life, accident, medical and health, mandatory provident fund, personal lines insurance to investment-linked products with numerous investment options. We are also dedicated to providing superb product solutions to meet the financial needs of high net worth customers.
1 as at 30 June 2018
2 as at 31 March 2018
AIA Group Limited and its subsidiaries (collectively "AIA" or the "Group") comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific -- wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, Cambodia, a 97 per cent subsidiary in Sri Lanka, a 49 per cent joint venture in India and a representative office in Myanmar.The business that is now AIA was first established in Shanghai almost a century ago in 1919. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$221 billion as of 30 June 2018.AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of 32 million individual policies and over 16 million participating members of group insurance schemes.AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code "1299" with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: "AAGIY"). Reported by Media OutReach 6 hours ago.
GOUVERNEUR, N.Y., Dec. 14, 2018 (GLOBE NEWSWIRE) -- In the news release, Gouverneur Bancorp Announces Fiscal 2018 Results, issued 07-December-2018 by Gouverneur Bancorp over GlobeNewswire, we are advised by the Company that the fourth paragraph, last sentence should read “Total interest income decreased $192,000, or 3.24%, from $5.92 million to $5.73 million” rather than “…decreased $285,000, or 4.74%, from $6.01 million to $5.73 million”, and the last sentence in the following paragraph should read “Interest expense incurred on borrowings from the Federal Home Loan Bank, $230,000 at the end of fiscal 2017, increased $18,000, to $248,000 at the end of fiscal 2018, resulting in a total interest expense of $516,000” rather than “….$202,000 at the end of fiscal 2017, increased $70,000, to $272,000 at the end of fiscal 2018, resulting in a total interest expense increase of $516,000”. The sixth paragraph should read “… was 4.27% in fiscal 2018 and 4.33% in fiscal 2017” rather than “… was 4.27% in fiscal 2018 and 4.30% in fiscal 2017” as originally issued. The change is due to certain reclassifications of interest income and expenses that have been made to the 2017 financial statements in order for them to be in conformity with the current year’s presentation. The complete correct release follows:
Charles C. Van Vleet Jr., President and Chief Executive Officer of Gouverneur Bancorp, Inc. (OTC Pink: GOVB) (the “Company”) holding company for Gouverneur Savings and Loan Association (the “Bank”), announced today results for its fiscal year ended September 30, 2018.Total Revenue (net interest income plus non-interest income) for fiscal year 2018 was $6.84 million, an increase of $276,000 over the 2017 fiscal year-end total of $6.57 million. The Bank remains well-capitalized with a core capital ratio of 22.71%, an increase of 1.49% from 2017.
Net income for the fiscal year ended September 30, 2018 decreased 10.56% to $1.19 million, or $0.54 per diluted share, compared to $1.33 million, or $0.60 per diluted share, in fiscal 2017. The earnings resulted in a return on average assets of 0.91%, a decrease from 0.98% in fiscal 2017, while the return on average equity decreased to 3.97% for the year ended September 30, 2018, from 4.46% for the year ended September 30, 2017.
In fiscal 2018, interest income on loans decreased $165,000 from $5.18 million at September 30, 2017 to $5.02 million at September 30, 2018. Total interest income decreased $192,000, or 3.24%, from $5.92 million to $5.73 million.
Interest expense on deposits increased $12,000, from $256,000 at September 30, 2017 to $268,000 at September 30, 2018. Interest expense incurred on borrowings from the Federal Home Loan Bank, $230,000 at the end of fiscal 2017, increased $18,000, to $248,000 at the end of fiscal 2018, resulting in a total interest expense of $516,000.
Interest spread, the difference between the rate earned on interest-earning assets and the rate paid on interest-bearing liabilities, was 4.27% in fiscal 2018 and 4.33% in fiscal 2017.
Non-interest income increased $498,000, from $1,134,000 in fiscal year 2017 to $1,632,000 in fiscal 2018. An increase in unrealized gains on swap agreements of $618,000 was the primary contributor to the increase.
Total non-interest expense decreased $72,000 from $4.78 million at the end of September 2017 to $4.71 million at the end of September 2018. Salary and employee benefits expense decreased modestly from the 2017 level due to staffing transitions and lowered health insurance costs. Directors’ fees increased due to a change in the retirement plan provisions, and data processing increased with new anti-money laundering regulatory requirements. The increase in building, occupancy and equipment was due in part to the cost of parking lot snow removal and maintenance over the winter months.
The components of non-interest expense are presented in the following table: For the year ended
Salaries and employee benefits $ 2,675 $ 2,717
Directors’ fees 248 220
Data processing 248 238
Building, occupancy and equipment 569 559
Other operating expense 970 1,048
Non-interest expense $ 4,710 $ 4,782
Commenting on the results for the year, Mr. Van Vleet said, “We are pleased with our results for the 2018 fiscal year as Gouverneur Savings and Loan continued to perform well among its peer group. The Bank has maintained its record of strong earnings while expenses continued to be well managed.
“The Bank began entering into interest rate swap contracts in 2015 as a means of hedging the cost of certain borrowings and to increase the interest rate sensitivity of certain assets. As of the end of fiscal 2018, the mark to market gain on the Bank’s swap position is $747,000. While the initial locked in pay-fixed rate on the swaps created an adverse effect on net interest costs, the more recent increases in long- and short- term interest rates have resulted in a more favorable outcome that is expected to continue as LIBOR, the driver of the variable rate payment to the Bank, is forecasted for further increases.”
Net loans decreased $4.02 million, or 4.04%, from $99.65 million to $95.63 million over the same period. The Bank made a $65,000 provision for loan losses in fiscal 2018, a decrease from the $120,000 provision made in the 2017 fiscal year. Non-performing assets were $2.01 million at September 30, 2018, compared to $2.42 million at September 30, 2017. Net charge-offs, currently $175,000, increased for the fiscal year ended September 30, 2018. The allowance for loan losses was $776,000 or 0.81% of total loans outstanding at September 30, 2018 as compared to $886,000 or 0.89% at September 30, 2017.
Deposits increased $947,000, or 1.13%, to $84.62 million at September 30, 2018 from $83.67 million at September 30, 2017. The Bank currently holds no brokered deposits. Advances from the FHLB decreased $4.75 million, from $16.75 million to $12.00 million over the same period as the need for the Company to fund its loan portfolio with low-cost FHLB borrowings decreased.
Total assets decreased by $4.43 million, or 3.25%, from $136.26 million at September 30, 2017 to $131.83 million at September 30, 2018. Asset composition includes non-performing assets of 1.53% of total assets, a decrease from the 2017 figure of 1.77%.
Shareholders’ equity was $29.98 million at September 30, 2018, representing an increase of 0.45% from the September 30, 2017 balance of $29.84 million. The Company’s book value was $13.77 per common share based on 2,176,908 shares issued and outstanding at September 30, 2018 versus $13.71 on an equal amount of shares issued and outstanding on September 30, 2017. The Company paid cash dividends totaling $0.34 per share to all public holders of our stock, during the fiscal year ending September 30, 2018. Cambray Mutual Holding Company, our majority shareholder, waived its right to payment of dividends through a November 2017 vote by its shareholders.
The Company, which is headquartered in Gouverneur, New York, is the holding company for Gouverneur Savings and Loan Association. Founded in 1892, the Bank is a New York State chartered savings and loan association offering a variety of banking products and services to individuals and businesses in its primary market area in St. Lawrence, Lewis and Jefferson Counties in New York State.
Statements in this news release contain forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs of management as well as assumptions made using information currently available to management. Since these statements reflect the views of management concerning future events, these statements involve risks, uncertainties and assumptions. These risks and uncertainties include among others, the impact of changes in market interest rates and general economic conditions, changes in government regulations, changes in accounting principles and the quality or composition of the loan and investment portfolios. Therefore, actual future results may differ significantly from results discussed in the forward-looking statements.
For more information, contact Charles C. Van Vleet Jr., President and Chief Executive Officer at (315) 287-2600.
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