AXIS Included in 2021 Bloomberg Gender-Equality Index Reflecting its Commitment to D&I Measurement and…

first_img Facebook Twitter PEMBROKE, Bermuda–(BUSINESS WIRE)–Jan 27, 2021– AXIS Capital Holdings Limited (“AXIS Capital” or the “Company”) (NYSE: AXS) today announced that it is one of 380 companies across 11 sectors included in the Bloomberg Gender-Equality Index (GEI). The GEI expanded in 2021 to represent 44 countries and regions. AXIS represents the first company domiciled in Bermuda to be included in the GEI. “We are proud to be selected for inclusion in the GEI as just one of 380 companies. Our participation in the GEI reflects our commitment to transparency on D&I and gender equality measures, and to holding ourselves accountable for results as we expand our D&I initiatives,” said Albert Benchimol, President and CEO of AXIS. “This is just a start as we grow our efforts to foster a corporate culture that promotes diversity, equity and inclusion.” AXIS’ efforts in D&I and gender equality are an element of the company’s Corporate Citizenship strategy, which includes initiatives that promote and foster a culture of inclusion. Additional focus areas of the AXIS Corporate Citizenship program include environment, philanthropy and advocacy. “It’s an important step forward to be included in the Bloomberg Gender-Equality Index. At AXIS, we recognize that the strength of our company is grounded in the diversity of our people,” said Noreen McMullan, Chief Human Resource Officer at AXIS. “Diversity and gender equity enrich all aspects of our business – our culture, our perspective, and our ability to understand and connect with all of our stakeholders.” The GEI brings transparency to gender-related practices and policies at publicly listed companies increasing the breadth of environmental, social, governance (ESG) data available to investors. The reference index measures gender equality across five pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies, and pro-women brand. Key strengths of AXIS’ across these categories included initiatives related to retaining women in the workforce, a key focus of AXIS’ over the last several years. To learn more, visit the GEI website. Bloomberg Terminal subscribers can access the GEI at {BGEI }. For more information about AXIS’ Corporate Citizenship initiatives, visit https://axiscapital.com/who-we-are/corporate-citizenship. About AXIS Capital AXIS Capital, through its operating subsidiaries, is a global provider of specialty lines insurance and treaty reinsurance with shareholders’ equity at September 30, 2020 of $5.3 billion and locations in Bermuda, the United States, Europe, Singapore, and Canada. Its operating subsidiaries have been assigned a rating of “A+” (“Strong”) by Standard & Poor’s and “A” (“Excellent”) by A.M. Best. For more information about AXIS Capital, visit our website at www.axiscapital.com. Follow AXIS Capital on LinkedIn and Twitter. View source version on businesswire.com:https://www.businesswire.com/news/home/20210127005329/en/ CONTACT: Investor Contact Matt Rohrmann AXIS Capital Holdings Limited [email protected] +1 212-940-3339Media Contact Anna Kukowski AXIS Capital Holdings Limited [email protected] +1 212-715-3574 KEYWORD: EUROPE CARIBBEAN UNITED KINGDOM BERMUDA INDUSTRY KEYWORD: PROFESSIONAL SERVICES CONSUMER WOMEN INSURANCE FINANCE MEN SOURCE: AXIS Capital Holdings Limited Copyright Business Wire 2021. PUB: 01/27/2021 08:00 AM/DISC: 01/27/2021 08:01 AM http://www.businesswire.com/news/home/20210127005329/en Local NewsBusiness Previous articleShift4 Payments Launches Shift4Shop eCommerce SolutionNext articleCertara Releases Simcyp™ PBPK Simulator Version 20, Including Newly Expanded Biologics Software Digital AIM Web Support WhatsApp Pinterest By Digital AIM Web Support – January 27, 2021 center_img TAGS  Pinterest AXIS Included in 2021 Bloomberg Gender-Equality Index Reflecting its Commitment to D&I Measurement and Transparency WhatsApp Twitter Facebooklast_img read more

Key Challenges Facing Mortgage Servicing

first_img The Best Markets For Residential Property Investors 2 days ago How has the housing industry changed during your career?The biggest change in the industry has come about since the crash in 2008 with the disappearance of the private market. Around 93 percent of the mortgages originated are now supported by Fannie Mae, Freddie Mac, FHA, or Gennie Mae. That’s incredibly different than it was 10 to 15 years ago.While those were still viable options, you also had a liquid secondary market for private placement and securitization, not through the GSEs or FHA. That simply has not come back for 10 years, and it doesn’t seem likely to make a wild comeback in the near future either. Sign up for DS News Daily in Daily Dose, Featured, News November 6, 2019 3,313 Views Steve StaidSteve Staid has 27 years’ experience in the mortgage industry, primarily in mortgage servicing.  From 1992 to 2007, he worked at several mortgage servicing companies and held a variety of leadership roles in the default and customer service areas. In 2007, Staid relocated to Europe, where he was responsible for mortgage servicing operations in a number of countries across the continent.  Upon his return to the United States three years later, he took a leadership role at Saxon Mortgage, a Morgan Stanley subsidiary, eventually becoming its CEO. In 2012, Staid took on a leadership role at Bank of America, overseeing non-default servicing operations and the bank’s mortgage related companies, including their title company, their appraisal management company, and several other entities.  In 2017, he joined PHH as the head of mortgage servicing and business development. Staid, now the new Chief Servicing Officer with Gateway First Bank, spoke with DS News on his new role, changes in the industry, and what lies ahead for the consumer in 2020.  2019-11-06 Mike Albanese Demand Propels Home Prices Upward 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago Do you believe affordability could increase for the consumer in 2020?It is a more complicated story than most people would probably believe. We understand that housing starts in high growth areas, in the big urban centers – think of the Dallas, Houston and Denver. Unfortunately, new stock is not keeping up with the demand for housing. The underlying challenge here that we’re having an interesting dialogue about at Gateway is that low to moderate house prices have become very difficult to find in those sorts of markets and very difficult to start. The cost of new home builds has gone up dramatically in the last 10 years.Additionally, cities and municipalities are taking a really good look now at what their tax base needs to be in order to afford the services to their community.Think about building schools, fire departments, police department. Then start thinking about how things started in the $200,000 and up range. When you start thinking about that number, that doesn’t really feel like starter home number, right? There is an interesting dynamic whereby it’s incredibly more expensive than it has been to build a house, and cities would like to see a higher tax base in order to afford all the services required for their community. What does this mean for affordable, single-family housing in the future? Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago What role do you see technology playing in the service industry as we enter 2020?Technology plays a more critical role than ever. We always talk about economies of scale in servicing, but we really get the most economies of scale through the implementation of new technology – to automate more processes and to take more expenses out of the system.The companies that are more advanced along those lines will find themselves successful as this profit and loss pressure mounts, if inflation rises over the next five years as predicted.  Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Mike Albanese Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Data Provider Black Knight to Acquire Top of Mind 2 days ago Key Challenges Facing Mortgage Servicing Do you think the move to high-density zoning could be a viable solution to the affordable housing crisis?I’m not sure there is another solution right now, especially if you think of somewhere like San Francisco, or Seattle, where you are limited in how you can expand. You have geographical limitations to those places. Seattle can’t be a sprawl, especially when compared to somewhere like Dallas.Everyone is talking about growth in areas, like those big metroplexes, but the growth is outstripping the ability to build single-family houses anyway. It’s got to go high density. Previous: The Danger Beyond the Storm Next: The Areas Where Homeowners Are Still Underwater The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago What are your thoughts on the current state of the industry with 2019 coming to a close?I think the biggest challenges for the servicing industry in the coming years are going to be surrounding profitability. One of the things that servicing entities are challenged with, simply with 93 percent of mortgages being GSE or FHA related, is that the servicing fees on those are fixed. If you look at how the inflation curve has run lately, it’s not that scary. But, if you want to project inflation over the coming years, we’re talking about the cost of servicing going up just on inflationary basis, over the next five years, maybe 10 to 15 percent. Our expense base is going to increase, yet our ability to increase our revenue is going to be capped by the growth of mortgage balances. The 25-basic points of fixed servicing fees has been in place for a long time, and I think that will continue to bring more pressure to bear on the profitability of servicers over time. Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Key Challenges Facing Mortgage Servicing Share Save What are your thoughts on being named Chief Servicing Officer at Gateway First Bank?I’m extremely excited to be working with Gateway. They’re a great mortgage company, that’s now also a bank, and there is a huge opportunity to grow their servicing book in the coming years. At Gateway, we have a very powerful origination channel, and have proven over time that it’s sustainable and profitable. As a servicing company, you really need a channel for loans to come in. Loans pay off over time, and borrowers refinance or pay off their mortgage in full.Having a pipeline into a servicing platform is critical, and that’s one of the strengths at Gateway that I found very appealing.  Related Articles Subscribelast_img read more

News story: CMA provisionally clears media intelligence merger

first_imgNielsen and Ebiquity gather, collate and analyse information on the advertising activity of companies in the UK and overseas.The Competition and Markets Authority (CMA) referred the merger for an in-depth investigation following concerns that the merged company would face little competition from other suppliers for this service.Although both Nielsen and Ebiquity sell advertising intelligence products to UK and international customers, an independent inquiry group of CMA panel members has provisionally found that the design of the products, how they are used and the fact that very few customers switch between the companies means they don’t closely compete. This finding was supported by the fact that they have not invested significant amounts of money or resources in competing for each other’s customers and, according to internal documents, are unlikely to do so in the future.This provisional clearance takes into account the declining demand for advertising research relating to traditional media – such as TV, radio and print – as online and social media continue to grow in importance and take a greater share of total advertising spend. This has put pressure on both companies, which provide intelligence on traditional media.The CMA is now asking for views on these provisional findings by 1 November 2018 and will assess all the evidence before making a final decision. The statutory deadline for the CMA’s final report is 9 December 2018.Further details are available on the merger inquiry case page.last_img read more

Women’s soccer returns home after tough road loss

first_imgUSC will look to get back to its winning ways as it takes on Washington State Thursday at McAlister Field for a 3 p.m. kickoff and Washington Sunday at 1 p.m. Cal capitalized on virtually every opportunity from start to finish, scoring three times on 10 attempts. Sophomore forward Penelope Hocking has 9 goals so far this season — the second most on her team after junior forward Tara McKeown. She also has four assists. ( Yannick Peterhans / Daily Trojan) “I think we’re going to take it one game at a time and work on things we need to work on going into the postseason,” Hocking said. “We’ll be fine.”  USC will have the week to try to hit the reset button before facing two of the highest ranked teams in the Pac-12. Washington State ranks No. 4 and Washington comes in at No. 2 in the conference. “I didn’t think we matched the competitiveness they brought to the game,” McAlpine said in an interview with USC Athletics. “As such, they were able to capitalize on all the mistakes that we made.” This has been a trend for the Trojans in games where they have fallen behind. No one doubts the Trojans’ talent and skill, but at times it seems as though USC’s competitive play takes a while to get going. The Trojans have won their last five matches against the Cougars and their last three against the Huskies, but the team’s focus is on the present.  The No. 7 USC women’s soccer team is preparing for its final home games of the regular season against No. 18 Washington State and No. 12 Washington.  “We’re not playing the best we can,” she said. “After the Cal loss, I think that was kind of a wake up call for us. We’re not there yet, we need to work on a lot of things to get where we want to be.”center_img Sophomore forward Penelope Hocking said the loss to the Bears should kick the Trojans into high gear The Trojans are coming off a disappointing 3-0 loss to Cal Friday in Berkeley. It was USC’s first loss to the Bears in two seasons and the first time the high-scoring Trojan offense has been shutout this season.  There are no cakewalks in the Pac-12 this season. It has been one of the tougher years in the conference’s history, with all but one team boasting a record over .500 and eight schools ranked in the Top 40 according to RPI rankings.  The Trojans switched goalkeepers in the second half, as head coach Keidane McAlpine brought in former Pac-12 Keeper of the Year redshirt junior Kaylie Collins to replace sophomore Anna Smith. Collins saw her first action since suffering an injury in August and allowed two goals in the second half as Cal padded its lead on its way to the upset win.  Hocking said it will be crucial for USC to approach the remainder of its schedule one game at a time instead of looking ahead to the playoffs.  “For the rest of the season, we’re just really focused on each game,” Hocking said. “Taking each game one game at a time, and really focusing for the Washington State game.” The Trojans have struggled this season on the road with an overtime win, an overtime tie and now a loss in six games away from McAlister Field. USC will be happy to be back at home where it has been dominant, outscoring opponents a combined 11-5. The race for the Pac-12 championship may be out of reach for the Trojans, who have two losses already in conference play and are looking up at a terrific Stanford team holding first place. Still, USC’s confidence in its future success has not wavered.last_img read more