Group

AM Best Revises Issuer Credit Rating Outlook to Positive for Insurance Subsidiaries of United Heritage Financial Group, Inc.

OLDWICK, N.J.–(BUSINESS WIRE)–Feb 5, 2021–

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb+” of United Heritage Life Insurance Company (UHLIC) (Meridian, ID). Concurrently, AM Best has revised the outlooks to positive from stable and affirmed the FSR of B+ (Good) and the Long-Term ICR of “bbb-” of United Heritage Property & Casualty Company (UHPC) (Meridian, ID). AM Best also has revised the outlook to positive from stable for the Long-Term ICR and affirmed the FSR of B++ (Good) and the Long-Term ICR of “bbb” of Sublimity Insurance Company (SIC) (Sublimity, OR). The outlook of the FSR is stable. These companies are operating subsidiaries of United Heritage Financial Group, Inc.

The positive outlooks reflect substantial improvements made to the organization’s enterprise risk management (ERM) program in recent years. These

Read More

Asbury Automotive Group Announces Fourth Quarter Financial Results

DULUTH, Ga., Feb. 2, 2021 /PRNewswire/ — Asbury Automotive Group, Inc. (NYSE: ABG), one of the largest automotive retail and service companies in the U.S., reported net income for the fourth quarter 2020 of $89.1 million ($4.59 per diluted share).  This compares to net income of $43.6 million ($2.26 per diluted share) in the prior year quarter, a 104% increase.

The financial measures discussed below include both GAAP and adjusted (non-GAAP) financial measures. Please see reconciliations for our non-GAAP metrics included in the accompanying financial tables.

“The fourth quarter of 2020 was a pivotal period for us where we launched our online car buying platform Clicklane and also unveiled our five year strategic plan to reach $20 billion of revenue by 2025,” said David Hult, Asbury’s President and Chief Executive Officer.  “On top of this, we posted the best quarterly results in our company’s history with

Read More

Merit Financial Group Partners With Union Financial Advisors

Merit Financial Group, LLC (“Merit”), a hybrid registered investment adviser (“RIA”), is adding Union Financial Advisors, LLC (“Union Financial”) to its Independent Advisor Partner platform. The partnership builds on Merit’s recent growth momentum and provides Union Financial with best-in-class RIA services and next-generation planning. This is Merit’s first RIA partner in Oklahoma.

Union Financial is dedicated to helping its clients simplify their finances by creating comprehensive financial plans that put them on a path to reach their goals. The firm serves clients through its unique tax-centric planning process that provides actionable steps with measurable results for clients’ financial plans. Union Financial will continue to serve clients in Oklahoma and throughout the country with the backing of Merit’s Independent Advisor Partner affiliation, which will fuel the team’s growth and ability to serve clients at an enhanced level. Steven A. Henderson, CPA, PFS, CFP®, CKA®, Stephen P. Regouby, CFP®, Douglas R. Morris,

Read More

The Pacific Financial Group Announces New Additions to Senior Leadership Team | News

BELLEVUE, Wash., Feb. 4, 2021 /PRNewswire/ — The Pacific Financial Group (TPFG), an SEC Registered Investment Advisory firm and pioneer in Self-Directed Brokerage Account Management, today announced multiple additions to its Executive Leadership Team. Gary Manguso has joined the company as Chief Investment Strategy & Product Officer. Matt Hamilton has joined as President.

Manguso has led both strategic and tactical teams for more than 25 years, building and managing large, high-growth product development and sales organizations. He will oversee both investment strategy and product development including the newest launches of TPFG’s Strategy PLUS and Market Movement Solutions® (MMS) investment management platforms. Hamilton becomes President and will oversee National Accounts, Strategic Partnerships, Private Wealth, Marketing, and the RiskPro® software team.

Most recently, Manguso was Vice President of Product Strategy at FTJ FundChoice where he focused on investment strategy development through increased advisor capabilities and consistency throughout their practices. Manguso

Read More

FBL Financial Group Reports Fourth Quarter and Full Year 2020 Results

WEST DES MOINES, Iowa–(BUSINESS WIRE)–FBL Financial Group, Inc. (NYSE: FFG) today reported net income attributable to FBL Financial Group for the fourth quarter of 2020 of $27.8 million, or $1.14 per diluted common share, compared to net income of $34.7 million, or $1.40 per diluted common share, for the fourth quarter of 2019. Adjusted operating income(1) totaled $27.3 million, or $1.11 per common share, for the fourth quarter of 2020, compared to $34.8 million, or $1.41 per common share, for the fourth quarter of 2019. Fourth quarter 2020 earnings reflect:

  • Unfavorable mortality results largely due to claims related to COVID-19
  • Higher equity income
  • Favorable market performance resulting in lower amortization of acquisition costs and a lower increase in reserves associated with Guaranteed Living Withdrawal Benefits (GLWB)
  • The benefit of other investment-related income
  • A focus on expense control
  • A lower effective tax rate
  • Continued investment in the
Read More

TCU Financial Group Digitizes Business Lending with nCino and Deloitte Canada

TORONTO, Feb. 04, 2021 — nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that Saskatchewan-based TCU Financial Group has digitally upgraded its business lending processes utilizing the nCino Bank Operating System®. The credit union worked with Deloitte to successfully deploy nCino on an accelerated timeline despite all teams being fully remote due to the COVID-19 pandemic.

Recognizing the need to digitize to best meet its members’ needs, CA$773 million-asset TCU Financial Group employed Deloitte’s rapid, iterative delivery model to implement nCino’s Commercial Banking Solution, leveraging pre-defined configurations that allowed the credit union to be live on nCino quickly and efficiently. With nCino, TCU Financial Group has access to automated workflows, real-time reporting and digital document management as part of an end-to-end lending process. Employees now have more time to focus on member relationships, and the

Read More