NewzIntel.com

Category: Asia Pacific

  • MIL-OSI: Kairous Acquisition Corp. Limited Announces Additional Contribution to Trust Account to Extend Period to Consummate Business Combination

    Source: GlobeNewswire (MIL-OSI)

    Singapore, Feb. 18, 2025 (GLOBE NEWSWIRE) — Kairous Acquisition Corp. Limited (OTCPINK: KACL, the “Company”), a special purpose acquisition company, announced today that Kairous Asia Limited, the Company’s initial public offering sponsor (“Sponsor”), has deposited into the Company’s trust account (the “Trust Account”) an aggregate of $50,000, in order to extend the period of time the Company has to complete a business combination for an additional one (1) month period, from February 16, 2025 to March 16, 2025. The Company issued a promissory note to Sponsor with a principal amount equal to the amount deposited. The promissory note bears no interest and will be converted into the Company’s ordinary shares at a price of $10.10 per share at the closing of a business combination by the Company. The purpose of the extension is to provide time for the Company to complete a business combination.

    About Kairous Acquisition Corp. Limited

    Kairous Acquisition Corp. Limited is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

    Forward Looking Statements

    This press release includes forward-looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements, including the successful consummation of the Company’s initial public offering, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

    Contacts

    Kairous Acquisition Corp. Limited
    Athiwat Apichote
    ir.kairous@gmail.com

    The MIL Network –

  • MIL-OSI: Hansen Launches AI-Powered Virtual Agent to Enhance Customer Experience

    Source: GlobeNewswire (MIL-OSI)

    MELBOURNE, Australia, Feb. 19, 2025 (GLOBE NEWSWIRE) — Hansen Technologies (ASX:HSN), a leading global provider of software and services to the energy, utilities, communications, and media industries, is unveiling an advanced AI solution to enhance the customer support experience. Hansen’s AI Virtual Agent is a Conversational (ConvAI) and Generative AI (GenAI) solution that is designed to integrate with Customer Information Systems (CIS) and is optimised for Hansen CIS, supporting diverse customer care needs. These can include setting up new accounts, updating personal information, processing bill payments, arranging payment plans, and transferring services.

    As utility and communications companies around the globe work to enhance customer satisfaction while alleviating pressure on overburdened call centre staff, those leading the charge are achieving success by delivering intelligent, seamless customer experiences—without compromising on cost efficiency. However, early AI-based customer support solutions fell short, struggling with limited natural language processing capabilities and a lack of industry-specific expertise. As a result, they were unable to handle the complexity and high volume of customer interactions spanning multiple communication channels.

    Hansen’s AI Virtual Agent is built to streamline key processes in call centres, making interactions more efficient and customer focused. By managing complex queries across voice, email, SMS and messaging platforms simultaneously, it shortens response times, improves customer satisfaction, and drives operational excellence. This Hansen solution is built on large language models and has been specifically fine-tuned to address sector-specific needs and is offered in a SaaS deployment model on AWS cloud infrastructure. It already supports queries in multiple languages and the company plans to further build on these.

    David Castree, President of Energy & Utilities at Hansen, explains: “With engineering innovation, and a clear focus initially on the utility sector we are proud to bring Hansen’s AI Virtual Agent to market and deliver a seamlessly integrated Conversational and Generative AI solution working alongside existing call centre agents to elevate the customer service experience. Importantly for companies, the cost per engagement has the potential to decrease by up to two-thirds, while the capacity to handle call volume is no longer constrained by the number of service centre lines or available agents.”

    Hansen has made a significant strategic investment for a minority interest in Dial AI, an innovative software engineering company, to bring this industry-leading AI solution to market.

    For further information about Hansen’s AI Virtual Agent or Hansen CIS, part of the Hansen Suite for Energy & Utilities, please visit www.hansencx.com.

    About Hansen
    Hansen Technologies (ASX: HSN) is a leading global provider of software and services to the energy & utilities and communications & media industries. With its award-winning software portfolio, Hansen serves customers in over 80 countries, helping them to create, sell, and deliver new products and services, manage and analyse customer data, and control critical revenue management and customer support processes.
    For more information, visit www.hansencx.com

    The MIL Network –

  • MIL-OSI Submissions: Stats NZ information release: Business price indexes: December 2024 quarter

    Source: Statistics New Zealand

    Business price indexes: December 2024 quarter – 19 February 2025 – Business price indexes (BPI) includes the producers price index (PPI), capital goods price index (CGPI), and farm expenses price index (FEPI).

    Key facts
    In the December 2024 quarter compared with the September 2024 quarter:

    • the output producers price index (PPI) fell 0.1 percent
    • the input PPI fell 0.9 percent
    • the farm expenses price index (FEPI) fell 0.1 percent
    • the capital goods price index (CGPI) rose 0.4 percent.

    Files:

     

    MIL OSI –

  • MIL-OSI New Zealand: Finance Sector – Comments on RBNZ interest rate decision from Leigh Hodgetts, country manager, Finance and Mortgage Advisers Association of New Zealand (FAMNZ)

    Source: Finance and Mortgage Advisers Association of New Zealand (FAMNZ)

    RBNZ interest rate decision – “If as expected, the Reserve Bank of New Zealand (RBNZ) reduces the official cash rate, we call on all banks to quickly pass on the full reduction to both new and existing borrowers.

    “Our message to borrowers who do not see a reduction in their repayments is to contact your lender and ask why. If you don’t get satisfaction see your mortgage adviser as the market is becoming more competitive and advisers can assist you to refinance if necessary.

    “The general feeling across New Zealand is that there will be further rate cuts during 2025, and we are already seeing competition heating up between the banks.

    “Some lenders are already factoring this into their rates, with a few headline rates coming out from Westpac at 4.99 per cent for a three year fixed rate, and TSB moving yesterday on a two year fixed rate at 5.29 per cent.

    “A rate cut will bring more good news for borrowers who are sitting on variable rates and looking for a good rate to lock in for 2025 and beyond.

    “It will also increase the ability of consumers to borrow and purchase a home, while bringing some relief for those doing it tough after long periods of higher rates.

    “The changing rates will present consumers with many options including whether to fix rates or not, and advisers are already receiving many of these types of enquiries. The type and structure of your loan will depend on your individual circumstances and we encourage borrowers to see a mortgage adviser so that this can be discussed. When rates are going down it is important not to make these decisions without advice.

    “The New Zealand mortgage market is becoming more competitive, and mortgage advisers have played a large part in this. More people are choosing to use an adviser because we assist them to find the product that is in their best interests and best suits their specific individual needs.”

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Rural News – Farmer confidence jumps to 10-year high – Federated Farmers

    Source: Federated Farmers

    Farmer confidence has risen to its highest level in over a decade, rebounding from record lows in recent years.
    Federated Farmers’ latest Farm Confidence Survey shows falling interest rates, rising incomes and more favourable farming rules have all played a major role in that improvement.
    “I’ve definitely noticed a significant shift in the mood of rural New Zealand. Farmers are feeling a lot more positive,” Federated Farmers president Wayne Langford says.
    “The last few years have been bloody tough for a lot of our farming families, with falling incomes, rising interest rates and unpaid bills starting to pile up on the kitchen bench.
    “At the same time, we’ve also been struggling with an incredibly challenging regulatory environment and farming rules that haven’t always been practical, affordable or fair.
    “These survey results paint a clear picture of a sector finally able to breathe a sigh of relief as some of that weight is lifted.”
    The January survey shows farmers’ confidence in current general economic conditions has surged from a deeply negative -66% in July 2024 to a net positive score of 2%.
    This marks the largest one-off improvement since the question was introduced in 2016.
    Meanwhile, a net 23% of farmers now expect better economic conditions over the next year – the highest confidence level since January 2014.
    There has also been a sharp lift in profitability, with 54% of farmers now reporting making a profit – double the number in the last survey six months ago.
    Langford says it’s important to note that, despite confidence being at its highest point in more than a decade, it’s still only just in the positive.
    “It’s been a remarkable recovery in farmer confidence over a short period of time, but I’m very conscious that we were coming off an extremely low base.
    “We’ve come a long way, but there’s a long way to go yet. Federated Farmers will keep pushing hard to cut costs out of farmers’ businesses and reduce some of that regulatory burden.”
    The survey results show regulation and compliance costs remains the greatest concern for farmers, followed by interest rates and banks, and input costs.
    “When it comes to farmer confidence, a lot of it comes down to what’s coming into our bank account, and what’s going out the other side. It’s a simple equation,” Langford says.
    “A lot of that is market driven, and farmers are used to riding those highs and lows, but Government rules and regulations have a significant impact on farmers’ costs.
    “Those compliance costs really can make or break your season and have a significant impact on a farmer’s confidence to keep investing in their business.
    “The Government have made a great start cutting through red tape for farmers and repealing a lot of the most unworkable rules, but there’s still a lot of work to be done.”
    Interest rates and banking issues have consistently been a top concern for farmers, which is why Federated Farmers fought so hard for a banking inquiry, Langford says.
    “Interest payments are a huge cost for most farming businesses and farmers have been under massive pressure from their banks in recent years.
    “We want to see the Government take a much closer look at our banking system and whether farmers are getting a fair deal from their lenders.”
    The survey shows farmers’ highest priorities for the Government are the economy and business environment, fiscal policy, and reducing regulatory burdens.
    “If the Government are serious about their ambitious growth agenda and doubling exports over the next decade, this is where they need to be focusing their energy,” Langford says.
    “For farmers to have the confidence to invest in our businesses, employ more staff, and grow our economy, we need to have confidence in our direction of travel as a nation too.
    “As a country, we’re never going be able to regulate our way to prosperity, but with the right policy settings, we might just be able to farm our way there.”
    The report’s key findings include:
    – General economic conditions (current): Farmer confidence has surged by 68 points since July 2024, rebounding from a deeply negative -66% to a net positive score of 2%. This marks the largest one-off improvement since the question was introduced in 2016.
    – General economic conditions (expectations): Optimism is rising, with net expectations increasing by 29 points since January 2024. A net 23% of farmers now anticipate better conditions over the next year-the highest confidence level seen since January 2014.
    – Farm profitability (current): The number of farmers making a profit has doubled since the last survey, with 54% of farmers now reporting a profit-up from just 27%. The net profitability score has surged by 60 points, the strongest turnaround since July 2022.
    – Farm profitability (expectations): Confidence in future profitability continues to climb, with a net 31% of farmers expecting improvement over the next 12 months-a 41-point increase since July 2024. This is the highest forward-looking profitability score since July 2017.
    – Farm production (expectations): A net 16% of farmers expect production to increase in the next year, extending a positive trend. This marks the first time since 2016/17 that there have been three consecutive periods of predicted growth.
    – Farm spending (expectations): Spending intentions have strengthened, with a net 23% of farmers planning to increase spending over the next 12 months-up 26 points from July 2024. This is the strongest expected rise since January 2023.
    – Farm debt (expectations): 41% of farmers plan to reduce their debt in the next year, up from 23% in July 2024. Lower interest rates, improved confidence, and stronger production forecasts are driving this shift.
    – Ability to recruit (experienced): Hiring challenges persist, with a net 16% of respondents reporting difficulty recruiting skilled staff in the past six months, largely unchanged from July 2024. However, this is the least difficult period for recruitment since July 2012.
    – Greatest concerns (current): The top concerns for farmers remain Regulation & Compliance Costs, Debt, Interest & Banks, and Input Costs.
    – Highest government priorities: Farmers want the Government to prioritise the Economy & Business Environment, Fiscal Policy, and reducing Regulatory Burdens. 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Stats NZ information release: Business price indexes: December 2024 quarter

    Source: Statistics New Zealand

    Business price indexes: December 2024 quarter – 19 February 2025 – Business price indexes (BPI) includes the producers price index (PPI), capital goods price index (CGPI), and farm expenses price index (FEPI).

    Key facts
    In the December 2024 quarter compared with the September 2024 quarter:

    • the output producers price index (PPI) fell 0.1 percent
    • the input PPI fell 0.9 percent
    • the farm expenses price index (FEPI) fell 0.1 percent
    • the capital goods price index (CGPI) rose 0.4 percent.

    Files:

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Fund to better recognise and support survivors

    Source: New Zealand Government

    The Government is continuing to respond to the Royal Commission of Inquiry into Abuse in Care by establishing a fund to honour those who died in care and are buried in unmarked graves, and strengthen survivor-led initiatives that support those in need.

    “The $2 million dual purpose fund will be available for local authorities to care and memorialise unmarked graves associated with psychiatric and psychopaedic sites. The Royal Commission of Inquiry into Abuse in Care found there are at least 4,000 unmarked graves in Auckland, Waikato, Nelson, Rangitikei, Horowhenua, Porirua, Otago, Westland and Canterbury. 

    “Authorities with sites in those areas can apply for funding to memorialise those who are buried, in ways their communities deem appropriate,” Lead Coordination Minister Erica Stanford says. 

    The fund will also support initiatives by non-governmental organisations and community groups to deliver effective support and services to survivors of abuse in care.

    “This includes educational workshops, initiatives to promote awareness and prevention of abuse in care, navigation support, and individual and collective advocacy for survivors,” Ms Stanford says.

    The fund is administered by Community Operations Hāpai Hapori in partnership with the Crown Response Office (CRO).

    “We respect and recognise the significance of these sites, and the work that has gone on locally to ensure they can endure. It’s important survivors are enabled to identify the supports and solutions that are meaningful to them. The fund will be non-contestable, meaning all applicants that meet the criteria will receive funding of up to $50,000 per application,” says Minister for the Community and Voluntary Sector Louise Upston.

    Notes to editors

    The fund responds to recommendations 5, 19 and 20 of Whanaketia.

    Applications can be submitted at www.communitymatters.govt.nz

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Dairy Sector – Fonterra provides update on Consumer divestment process

    Source: Fonterra

    Fonterra Co-operative Group Ltd has today provided an update on the process to divest its global Consumer business and integrated businesses Fonterra Oceania and Sri Lanka.  

    Fonterra CEO Miles Hurrell says the Co-op’s decision to pursue a divestment is grounded in an understanding of where it creates the most value for farmers today and where there’s further room for growth.

    “We are clear on our strategy and have a pathway to grow further value for farmer shareholders and the New Zealand economy through our innovative Foodservice and Ingredients businesses. At the same time, we recognise the responsibility we have to find the right steward for iconic brands such as Anchor , Mainland and Western Star and an ownership structure that allows these businesses to continue to grow.

    “We announced in November 2024 that we are pursuing both a trade sale and Initial Public Offering (IPO) as potential divestment options. Our intention is to thoroughly test the terms and value of both a trade sale and IPO before selecting an option to put to farmer shareholders for a vote. Ahead of that, we are today indicating the next steps that are required in both processes,” says Mr Hurrell.  

    As part of the trade sale process, over the coming weeks Fonterra will be engaging with potential buyers of the Consumer and associated business.  

    Alongside this, as part of preparing for a potential IPO, Fonterra has named key management team members and chosen a corporate brand for the entity if it is to be publicly listed.    

    “Fonterra has chosen Mainland Group as the corporate brand for the group if we are to proceed with an IPO. The Mainland brand has strong New Zealand dairy heritage and is also well known by consumers in New Zealand, Australia and across many of our global markets,” says Mr Hurrell.

    “I’m pleased to share that René Dedoncker has been named as CEO-elect for Mainland Group. René is currently Fonterra’s Managing Director Global Markets Consumer and Foodservice, leading the businesses in scope for divestment. He joined Fonterra in 2005 and has held several global leadership positions during that time. He has led our Australian business since 2017, including through its recent merger with Fonterra Brands New Zealand to form Fonterra Oceania. 

    “We have also appointed Paul Victor as CFO-elect for Mainland Group. Paul has joined Fonterra from ASX-listed Incitec Pivot Limited, where he was Chief Financial Officer. Paul brings more than 30 years of experience, working across functions including finance, treasury, tax, financial planning and analysis, control, M&A, investor relations and IT.

    “René and Paul are very capable leaders with the experience to take these businesses forward into their next phase. Both will lead roadshow meetings with potential investor groups, commencing in March.

    “We recognise the ongoing interest in the divestment process and will provide further updates as we make progress,” says Mr Hurrell.  

    Fonterra’s chosen option will balance:

    • Maximising long term value for farmer shareholders, including the best return on capital invested; 
    • Cementing Fonterra’s competitive advantage in Ingredients and Foodservice; and 
    • Expanding international channels to market for high-quality New Zealand dairy. 

    Fonterra continues to target a significant capital return to be made to farmer shareholders and unit holders following the divestment.

    About Fonterra 

    Fonterra is a co-operative owned and supplied by thousands of farming families across Aotearoa New Zealand. Through the spirit of co-operation and a can-do attitude, Fonterra’s farmers and employees share the goodness of our milk through innovative consumer,foodservice and ingredients brands. Sustainability is at the heart of everything we do, and we’re committed to leaving things in a better way than we found them. We are passionate about supporting our communities by Doing Good Together. 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Health and Business – The Royal New Zealand College of General Practitioners Partners with Tribal to Transform Learner Management

    Source: Tribal Group

    Wellington,  February 5, 2025 – Tribal Group, a leading provider of education technology, is delighted to announce its partnership with The Royal New Zealand College of General Practitioners (the College). Following an extensive evaluation process, the College has selected Tribal’s ebs learner management system to assist the transformation of their learner experience and streamline operations as part of Te Kāpehu Whetū, their programme for mapping operational needs and identifying suitable tools.

    The College identified the need for a more robust, future-proofed system following their commitment to delivering seamless training experiences to support the next generation of specialist general practitioners and rural hospital doctors.

    Toby Beaglehole, College Chief Executive says, “The change in our system was essential to accommodate our organisation’s growth and future needs. Te Kāpehu Whetū represents our continuous improvement approach to finding the right tools that align with our processes and support our vision for the future.”

    A Rigorous Selection Process

    The College’s search for a new solution began in 2022. After conducting desktop research and gathering recommendations from other organisations in the New Zealand tertiary education and membership sectors, Tribal ebs emerged as an option due to its intuitive functionality and deep integration capability.

    “We needed a solution that was not only advanced in its core capabilities but also came from a provider deeply embedded in the education sector. Tribal stood out not just for its extensive experience but for its ability to future-proof our organisation through ongoing R&D and sector insights,” said Mr Beaglehole.

    The partnership will see Tribal ebs become the central system supporting the College’s learner journeys, from application through their training and into Fellowship, while integrating seamlessly with their other systems.

    Delivering Modern, Learner-Centric Solutions

    The learner and staff portals within Tribal ebs were major factors in the College’s decision, offering intuitive user experiences with powerful behind-the-scenes functionality. The system will also automate many of the College’s operational processes.

    Steve Exley, Tribal’s General Manager in New Zealand, added, “We are proud to partner with the College and support their journey towards a more robust system that enhances their operations and the services they provide. This collaboration signifies the strength of Tribal ebs in the tertiary education sector, particularly here in Aotearoa New Zealand.”

    A Broader Impact on the Tertiary Education and EdTech Sectors

    This collaboration highlights the increasing need for future-ready solutions within the tertiary education sector. The College’s adoption of Tribal ebs not only showcases the adaptability of the platform but also underscores Tribal’s deep commitment to addressing the diverse needs of education organisations, particularly in New Zealand and the wider Asia-Pacific (APAC) region.

    The partnership also celebrates Tribal’s launch of advisory services in APAC, reinforcing its presence and expertise in education technology throughout the region.

    “This partnership with Tribal  enables  us to leverage new technology to enhance our educational infrastructure. By integrating Tribal ebs, we are laying the groundwork for a future-ready institution that aligns with our strategic goals to nurture new generations of specialist GPs and rural hospital doctors,” concludes Mr Beaglehole.

    Mark Pickett, CEO of Tribal Group, remarked, “Our collaboration with the College reaffirms Tribal Group’s commitment to delivering solutions that address the intricate needs of educational institutions. By providing a comprehensive and adaptable learner management system, we are committed to fostering innovation and operational excellence within the College, ensuring they remain at the forefront of medical education.”

    Next Steps for the Partnership

    The College has already initiated workshops with Tribal’s implementation team, and the first project milestone—go-live for applications for the 2026 intake of general practice and rural hospital trainees—is set for March 2025.

    About Tribal

    Tribal Group plc is global leader in education technology, offering solutions that empower institutions to improve efficiency, innovate processes, and enhance the learner experience. Working with Higher Education, Further and Tertiary Education, schools, Government and State bodies, training providers and employers, in over 55 countries; Tribal Group’s mission is to empower the world of education with products and services that underpin learner success.

    About The Royal New Zealand College of General Practitioners  

    The Royal New Zealand College Of General Practitioners is New Zealand’s largest medical college with a membership of over 6,000 GPs, rural hospital doctors, and registrars.  The College sets standards for general practice in New Zealand, providing research, assessment, ongoing education, advocacy and support for general practitioners and general practice. They advocate for equity, access, and sustainable healthcare and believe fundamentally that regardless of who or where they are, every New Zealander should have access to their own GP.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Health – Patients, clinicians to pay price for Te Whatu Ora digital services cuts – RACS

    Source: Royal Australasian College of Surgeons (RACS)

    Te Whare Piki Ora o Māhutonga – the Royal Australasian College of Surgeons (RACS) – says proposed cuts to Te Whatu Ora’s digital services were made with reference to financial considerations, not clinical ones.

    It argues any projected cost savings don’t factor in the potential impact on clinical staff, clinical standards and patient safety and wellbeing.

    “These proposed changes may seem like a simple money saver, but we haven’t seen any analysis that weighs the expected cost savings against the risks to patient outcomes,” says Dr Ros Pochin, Chair of the RACS Aotearoa New Zealand National Committee.  

    She says the current state of the IT systems hospital clinicians rely on are “not what you would hope for from a modern healthcare system”.

    “We need systems that talk to each other across hospitals and regions; reliable technology and uninterrupted remote access, especially for the smaller rural and regional centres; and a support team with the capacity to help when there are issues or outages. I can’t see how the proposals allow for these much-needed upgrades. In fact, they’ll likely make matters worse. The loser is always the patient and the clinicians trying to do their best for them.”

    The Digital Services Consultation Document proposes significant changes to Te Whatu Ora’s digital infrastructure, including the termination or deferral of 136 digital projects and a near 50% reductions in digital services staff. The changes aim to address financial deficits but raise concerns regarding their potential impact on clinical standards, patient safety, and the overall effectiveness of the healthcare system.

    “These drastic changes, focused almost exclusively on cost-saving measures, have been made without consulting those who are most affected – the frontline medical professionals who deliver care,” says Dr Pochin.

    “This is a strategic shift being pushed through without the necessary evidence or clinical scrutiny. While it may offer short-term savings, the long-term performance and human cost could be profound.”

    RACS, which is committed to equitable, quality healthcare, is voicing its strong objections to these changes, which threaten to destabilise an already fragile health workforce and undermine the safety and efficacy of patient care. It is calling for an immediate suspension of the current decision-making process and urges Te Whatu Ora to engage in a thorough, evidence-based consultation with clinical professionals

    As Aotearoa New Zealand navigates its future healthcare needs, RACS remains committed to advocating for the changes that will best serve the health and wellbeing of all communities, and is ready to work alongside Te Whatu Ora and other stakeholders to shape a better, safer, and more equitable system for the country.

     

    About the Royal Australasian College of Surgeons (RACS)

    RACS is the leading advocate for surgical standards, professionalism and surgical education in Australia and Aotearoa New Zealand. The College is a not-for-profit organisation that represents more than 7000 surgeons and 1300 surgical trainees and Specialist International Medical Graduates. RACS also supports healthcare and surgical education in the Asia-Pacific region and is a substantial funder of surgical research. There are nine surgical specialties in Australasia being: Cardiothoracic Surgery, General Surgery, Neurosurgery, Orthopaedic Surgery, Otolaryngology Head and Neck Surgery, Paediatric Surgery, Plastic and Reconstructive Surgery, Urology and Vascular Surgery. www.surgeons.org

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Jamison Park netball courts renewed and ready to bounce into action

    Source: Australian Ministers 1

    The Albanese Government continues to partner with Penrith City Council to build high-priority local community infrastructure – with the upgrades to the netball courts now officially complete at Jamison Park in South Penrith.

    The $876,000 project resurfaced 23 courts and delivered drainage improvements to the complex – supported by $650,000 from the Albanese Government under the Local Roads and Community Infrastructure Program (LRCI) and over $225,000 from Penrith City Council.

    Finished just in time for the upcoming netball season, these upgrades will improve the playing conditions for competitors and create a greater experience for their supporters to spectate.

    The resurfaced courts surfaces and the construction of a new asphalt swale will help to ensure rainwater is directed away from the courts.

    This will assist games to resume sooner after wet weather, reducing disruptions to the netball season.

    In addition to these works, Penrith City Council is also in the final stages of installing new netball hoops, with the remaining ones set to be in place before the start of the netball season.

    For more information, visit www.penrithcity.nsw.gov.au/facilities-recreation/sports/sports-facilities-upgrades.

    Quotes attributable to Minister for Local Government, Kristy McBain MP:

    “It’s fantastic to see work complete at the Jamison Park Netball Courts, because I know how important having modern, fit-for-purpose facilities is to ensuring the success of local sporting clubs.

    “Thanks to this project, Jamison Park will remain as the centre of Penrith’s vibrant netball community, supporting all levels of competition.

    “This is just one of many projects in which we’re partnering with the Penrith City Council, as part of more than $2.4 million in LRCI phase 4 funding from the Albanese Government.”

    Quotes attributable to Labor Senator for NSW Tony Sheldon:

    “Netball is more than just a sport—it’s at the heart of the Penrith community, bringing together players, families, and supporters every season.”

    “The Albanese Government is proud to back Penrith’s netball community by delivering real, on-the-ground improvements like these upgraded courts at Jamison Park.”

    “This is exactly what Labor’s investment in local infrastructure is all about, supporting grassroots sport, strengthening community connections, and ensuring top-notch facilities for local players of all levels.”

    “Thanks to the Local Roads and Community Infrastructure Program, these courts will remain a hub for competition and community sport for years to come.”

    Quotes attributable to Penrith Mayor Todd Carney:

    “Jamison Park Netball Courts are a vital part of our city.

    “These upgrades will support the thousands of people that use these courts every week during netball season.

    “From local games to state-level competitions, these improvements will help ensure that Jamison Park remains a premier venue for netball in Penrith.”

    MIL OSI News –

  • MIL-OSI Security: Former Great Falls woman sentenced to prison for 2021 crash on the Blackfeet Indian Reservation that seriously injured passenger

    Source: Office of United States Attorneys

    GREAT FALLS — A former Great Falls woman who was convicted by a federal judge for a December 2021 crash on the Blackfeet Indian Reservation in which a juvenile passenger suffered serious injuries was sentenced on Feb. 12 to 14 months in prison, to be followed by three years of supervised release, Acting U.S. Attorney Timothy J. Racicot said today.

    After a one-day bench trial on Aug. 27, 2024, Chief U.S. District Judge Brian M. Morris found the defendant, Noblee Rose Littledog, 23, currently of Aberdeen, Washington, guilty of assault resulting in serious bodily injury as charged in an indictment. At sentencing, the court allowed Littledog to self-report to prison.

    In court documents and at trial, the government alleged that on Dec. 1, 2021, Littledog was driving a 2019 Jeep Cherokee on the Blackfeet Indian Reservation with the victim, a passenger identified as Jane Doe, who was 17 years old. While driving on Badger Creek Road, Littledog attempted to pass two vehicles at the same time while driving 105 mph. Littledog lost control of the vehicle and overcorrected, causing the vehicle to leave the roadway and roll several times before coming to rest right side up. Both Littledog and the victim were seriously injured. Jane Doe suffered severe trauma to her lower extremities, underwent multiple surgeries and has permanent damage.

    The government presented evidence at trial that seconds before the crash, Littledog was traveling at a minimum speed of 105 mph. The evidence also showed that both occupants were restrained at the time of the crash. Jane Doe reported that Littledog had consumed alcohol on the drive, and Littledog told law enforcement at the hospital that she had consumed two alcoholic beverages approximately 30 to 40 minutes before the crash.

    The U.S. Attorney’s Office prosecuted the case. Blackfeet Law Enforcement Services, the Montana Highway Patrol and the FBI, with assistance from the Cut Bank Police Department, conducted the investigation.

    XXX

    MIL Security OSI –

  • MIL-OSI: SiriusPoint reports ninth consecutive quarter of underwriting profits with FY Core combined ratio of 91.0%

    Source: GlobeNewswire (MIL-OSI)

    HAMILTON, Bermuda, Feb. 18, 2025 (GLOBE NEWSWIRE) — SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE:SPNT) today announced results for its fourth quarter ended December 31, 2024

    • Combined ratio of 90.2% in the fourth quarter for Core business, representing a 3.2 point improvement versus prior year, resulting in a full year 2024 Core combined ratio of 91.0% and Core underwriting income of $200 million
    • Growth in the quarter of 21% on gross premiums written for continuing lines business (excluding 2023 exited programs), contributing to 10% growth for the full year
    • Fourth quarter net loss of $21 million, materially impacted by three significant items linked to our efforts to reposition the Company, including the CM Bermuda repurchase transaction, closure of previously announced LPT transaction with Enstar, and the write-down of a single MGA investment. This marks the end of the significant reshaping of the Company
    • Underlying net income of $44 million in the fourth quarter contributing to $304 million for the full year, up 14% versus prior year
    • Return on equity for 2024 of 9.1%, or 14.6% on an underlying basis and at the upper end of the target range of 12-15%
    • Book value per diluted common share (ex. AOCI) of $14.64, up 2.7% in the quarter and up 9.8% from December 31, 2023. Balance sheet remains strong post CM Bermuda transaction with Q4’24 BSCR estimate at 214%
    • Permanent retirement of the 45.7 million common shares repurchased from CM Bermuda on closure of the transaction, driving greater than 20% earnings per share accretion

    Scott Egan, Chief Executive Officer, said: “2024 has been a remarkable year of delivery for SiriusPoint. Despite increased catastrophe activity, our Core combined ratio has improved meaningfully from last year to 91.0%, excluding the impact from the loss portfolio transfer in 2023. Our 4.2 point improvement in attritional loss ratio demonstrates our focus on improving the quality of our underwriting. We saw 21% growth of gross premiums written for the quarter and 10% for the full year for our continuing lines business.

    Our underlying return on equity of 14.6% is at the upper end of the 12-15% target range set out a year ago. In optimizing our capital position, we have returned over $1 billion to investors during 2024 while maintaining robust capital ratios, due to our strong performance, reshaping actions, and capital generation over the past two years.

    We have strengthened our underlying business performance year-over-year, providing a strong basis for 2025. While this quarter our net income was impacted by several one-off items, we see 2024 as the end of the repositioning and reshaping of the Company. Our efforts are now fully focused on both growing the business and continuing to enhance performance.

    I take great pride in the accomplishments of the SiriusPoint team, who have worked with commitment and dedication to produce improvements in our underlying results, quarter after quarter. I am immensely grateful for all that they do every day for our customers, partners and shareholders.”

    Fourth Quarter 2024 Highlights

    • Net loss attributable to SiriusPoint common shareholders of $21.3 million, or $0.13 per diluted common share
    • Core income of $66.7 million, including underwriting income of $56.3 million, Core combined ratio of 90.2%
    • Core net services fee income of $10.4 million, with service margin of 20.2%
    • Net investment income of $68.9 million and total investment result of $29.0 million
    • Book value per diluted common share decreased $0.13 per share, or 0.9%, from September 30, 2024 to $14.60
    • Annualized return on average common equity of (4.0)%

    Year Ended December 31, 2024

    • Net income available to SiriusPoint common shareholders of $183.9 million, or $1.04 per diluted common share
    • Core income of $244.6 million, including underwriting income of $200.0 million, Core combined ratio of 91.0%
    • Core net services fee income of $46.7 million, with service margin of 21.0%
    • Net investment income of $303.6 million and total investment result of $224.6 million
    • Book value per diluted common share increased $1.25 per share, or 9.4%, from December 31, 2023 to $14.60
    • Return on average common equity of 9.1%
    • Debt to capital ratio increased to 24.8% compared to 23.8% as of December 31, 2023

    Key Financial Metrics

    The following table shows certain key financial metrics for the three and twelve months ended December 31, 2024 and 2023:

           
      Three months ended   Twelve months ended
      December 31,
    2024    		   December 31,
    2023    		   December 31,
    2024    		   December 31,
    2023
      ($ in millions, except for per share data and ratios)
    Combined ratio   94.4 %     93.6 %     88.3 %     84.5 %
    Core underwriting income (1) $ 56.3     $ 37.0     $ 200.0     $ 250.2  
    Core net services income (1) $ 10.4     $ 9.3     $ 44.6     $ 41.2  
    Core income (1) $ 66.7     $ 46.3     $ 244.6     $ 291.4  
    Core combined ratio (1)   90.2 %     93.4 %     91.0 %     89.1 %
    Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders (4.0 )%     17.1 %     9.1 %     16.2 %
    Book value per common share $ 14.92     $ 13.76     $ 14.92     $ 13.76  
    Book value per diluted common share $ 14.60     $ 13.35     $ 14.60     $ 13.35  
    Book value per diluted common share ex. AOCI (1) $ 14.64     $ 13.33     $ 14.64     $ 13.33  
    Tangible book value per diluted common share (1) $ 13.42     $ 12.47     $ 13.42     $ 12.47  
    (1) Core underwriting income, Core net services income, Core income and Core combined ratio are non-GAAP financial measures. See definitions in “Non-GAAP Financial Measures” and reconciliations in “Segment Reporting.” Book value per diluted common share ex. AOCI and tangible book value per diluted common share are non-GAAP financial measures. See definition and reconciliation in “Non-GAAP Financial Measures.”
       

    Fourth Quarter 2024 Summary

    Consolidated underwriting income for the three months ended December 31, 2024 was $32.7 million compared to $36.7 million for the three months ended December 31, 2023. The decrease was primarily driven by higher catastrophe losses, partially offset by an increase in favorable prior year loss reserve development. Catastrophe losses, net of reinsurance and reinstatement premiums, were $38.6 million, or 6.5 percentage points on the combined ratio, for the three months ended December 31, 2024 mainly from Hurricane Milton, compared to minimal losses for the three months ended December 31, 2023. Favorable prior year reserve development was $37.3 million primarily driven by favorable development in Reinsurance, mainly in Property and Specialty from reserve releases relating to prior year’s catastrophe events, as well as in Insurance & Services, mainly due to lower than expected reported attritional losses in A&H, compared to $11.1 million for the three months ended December 31, 2023 which included reserve strengthening for specific areas of uncertainty for the loss reserves.

    Consolidated underwriting income for the year ended December 31, 2024 was $276.4 million compared to $375.9 million for the year ended December 31, 2023. The decrease was primarily driven by lower favorable prior year loss reserve development as the year ended December 31, 2023 included $127.8 million driven by reserving analyses performed in connection with the loss portfolio transfer transaction with Pallas Reinsurance Company Ltd that closed on June 30, 2023 (“2023 LPT”). Excluding the favorable development linked to the 2023 LPT, underwriting income increased by $15.8 million primarily driven by favorable development in Reinsurance, as well as lower attritional losses in both Reinsurance and Insurance & Services, partially offset by higher acquisition costs from business mix changes, including the growth of Insurance & Services, and higher catastrophe losses. Catastrophe losses, net of reinsurance and reinstatement premiums, were $54.8 million, or 2.3 percentage points on the combined ratio, for the year ended December 31, 2024, primarily driven by Hurricanes Milton and Helene, compared to $24.8 million, or 1.0 percentage points on the combined ratio, for the year ended December 31, 2023, primarily driven by the Turkey Earthquake and Chile Wildfire.

    Reportable Segments

    The determination of our reportable segments is based on the manner in which management monitors the performance of our operations, which consist of two reportable segments – Reinsurance and Insurance & Services.

    Collectively, the sum of our two segments, Reinsurance and Insurance & Services, constitute our “Core” results. Core underwriting income, Core net services income, Core income and Core combined ratio are non-GAAP financial measures. See reconciliations in “Segment Reporting”. We believe it is useful to review Core results as it better reflects how management views the business and reflects our decision to exit the runoff business. The sum of Core results and Corporate results are equal to the consolidated results of operations.

    Three months ended December 31, 2024 and 2023

    Core Premium Volume

    Gross premiums written increased by $42.7 million, or 5.9%, to $762.5 million for the three months ended December 31, 2024 compared to $719.8 million for the three months ended December 31, 2023. Net premiums earned increased by $23.2 million, or 4.2%, to $581.6 million for the three months ended December 31, 2024 compared to $558.4 million for the three months ended December 31, 2023. The increases in premium volume were primarily driven by increases in Insurance & Services from strategic organic and new program growth, as well higher A&H premiums, and in Reinsurance in Specialty and Property from new business and renewal growth. These increases were partially offset by the movement of certain lines from Insurance & Services to Corporate, including the non-renewal of a Workers’ Compensation program and the planned transition of a Cyber program to another carrier, representing $89.9 million of gross premiums written for the three months ended December 31, 2023.

    Core Results

    Core results for the three months ended December 31, 2024 included income of $66.7 million compared to $46.3 million for the three months ended December 31, 2023. Income for the three months ended December 31, 2024 consists of underwriting income of $56.3 million (90.2% combined ratio) and net services income of $10.4 million, compared to underwriting income of $37.0 million (93.4% combined ratio) and net services income of $9.3 million for the three months ended December 31, 2023. The improvement in net underwriting results was primarily driven by increased favorable prior year loss reserve development and lower attritional losses, partially offset by higher catastrophe losses.

    Losses incurred included $58.1 million of favorable prior year loss reserve development for the three months ended December 31, 2024 mainly in Property and Specialty from reserve releases relating to prior year’s catastrophe events, compared to $37.7 million for the three months ended December 31, 2023 driven by management reflecting the continued favorable reported loss emergence through December 31, 2023 in its best estimate of reserves.

    Catastrophe losses, net of reinsurance and reinstatement premiums, for the three months ended December 31, 2024, were $38.6 million, or 6.6 percentage points on the combined ratio, mainly from Hurricane Milton, compared to minimal losses for the three months ended December 31, 2023. Despite increased catastrophe losses for the three months ended December 31, 2024, catastrophe losses for the year ended December 31, 2024 were in line with our expectations evidencing our actions to reduce our catastrophe exposed business during the last two years.

    Year ended December 31, 2024 and 2023

    Core Premium Volume

    Gross premiums written decreased by $134.3 million, or 4.1%, to $3,176.4 million for the year ended December 31, 2024 compared to $3,310.7 million for the year ended December 31, 2023. Net premiums earned decreased by $81.5 million, or 3.6%, to $2,199.1 million for the year ended December 31, 2024 compared to $2,280.6 million for the year ended December 31, 2023. The decreases in premium volume were primarily due to the movement of certain lines from Insurance & Services to Corporate, including the non-renewal of a Workers’ Compensation program and the planned transition of a Cyber program to another carrier, representing $421.8 million of gross premiums written for the year ended December 31, 2023, with the most significant offset being strategic organic and new program growth within Insurance & Services.

    Core Results

    Core results for the year ended December 31, 2024 included income of $244.6 million compared to $291.4 million for the year ended December 31, 2023. Income for the year ended December 31, 2024 consists of underwriting income of $200.0 million (91.0% combined ratio) and net services income of $44.6 million, compared to underwriting income of $250.2 million (89.1% combined ratio) and net services income of $41.2 million for the year ended December 31, 2023. The decrease in net underwriting results was primarily driven by lower favorable prior year loss reserve development as the year ended December 31, 2023 included $104.8 million driven by reserving analyses performed in connection with the 2023 LPT.

    Excluding the favorable development linked to the 2023 LPT, net underwriting income increased by $49.0 million primarily driven by favorable development in Reinsurance, mainly in Property and Specialty from reserve releases relating to prior year’s catastrophe events, as well as lower attritional losses in both Reinsurance and Insurance & Services, partially offset by higher acquisition costs from business mix changes, including the growth of Insurance & Services, and higher catastrophe losses.

    For the year ended December 31, 2024 catastrophe losses, net of reinsurance and reinstatement premiums, were $54.8 million, or 2.5 percentage points on the combined ratio, which includes losses from Hurricanes Milton and Helene compared to $13.5 million, or 0.6 percentage points on the combined ratio, including losses from the Turkey Earthquake, Hawaii wildfires and Hurricane Idalia, for the year ended December 31, 2023.

    Reinsurance Segment

    Three months ended December 31, 2024 and 2023

    Reinsurance gross premiums written were $312.2 million for the three months ended December 31, 2024, an increase of $60.5 million, or 24.0%, compared to the three months ended December 31, 2023, primarily driven by new business and renewal growth across Specialty and Property, partially offset by reduced premiums written in Casualty reflecting underwriting actions to improve profitability.

    Reinsurance generated underwriting income of $18.3 million (93.2% combined ratio) for the three months ended December 31, 2024, compared to underwriting income of $27.8 million (88.6% combined ratio) for the three months ended December 31, 2023. The decrease in net underwriting results was primarily due to higher catastrophe losses, partially offset by increased favorable development. Catastrophe losses, net of reinsurance and reinstatement premiums, for the three months ended December 31, 2024, were $35.2 million, or 13.2 percentage points on the combined ratio, mainly from Hurricane Milton, compared to minimal losses for the three months ended December 31, 2023. Losses incurred included $41.8 million of favorable prior year loss reserve development for the three months ended December 31, 2024 mainly in Property and Specialty from reserve releases relating to prior year’s catastrophe events, compared to $21.1 million for the three months ended December 31, 2023 driven by management reflecting the continued favorable reported loss emergence through December 31, 2023 in its best estimate of reserves.

    Year ended December 31, 2024 and 2023

    Reinsurance gross premiums written were $1,335.6 million for the year ended December 31, 2024, an increase of $64.6 million, or 5.1%, compared to the year ended December 31, 2023, primarily driven by new business and renewal growth across Specialty and Property, partially offset by reduced premiums written in Casualty reflecting underwriting actions to improve profitability.

    Reinsurance generated underwriting income of $124.8 million (88.0% combined ratio) for the year ended December 31, 2024, compared to underwriting income of $206.2 million (80.0% combined ratio) for the year ended December 31, 2023. The decrease in net underwriting results was primarily due to decreased favorable prior year loss reserve development and higher catastrophe losses, partially offset by lower attritional losses. Net favorable prior year loss reserve development was $75.0 million for the year ended December 31, 2024 primarily driven by favorable development in Property and Specialty from reserve releases relating to prior year’s catastrophe events, compared to $140.8 million for the year ended December 31, 2023, which included $93.0 million driven by reserving analyses performed in connection with the 2023 LPT.

    For the year ended December 31, 2024, catastrophe losses, net of reinsurance and reinstatement premiums, were $49.5 million, or 4.7 percentage points on the combined ratio, which includes losses from Hurricanes Milton and Helene compared to $12.2 million, or 1.2 percentage points on the combined ratio, including losses from the Turkey Earthquake, Hawaii wildfires and Hurricane Idalia for the year ended December 31, 2023.

    Insurance & Services Segment

    Three months ended December 31, 2024 and 2023

    Insurance & Services gross premiums written were $450.3 million for the three months ended December 31, 2024, a decrease of $17.8 million, or 3.8%, compared to the three months ended December 31, 2023, primarily driven by the movement of certain lines from Insurance & Services to Corporate, including the non-renewal of a Workers’ Compensation program and the planned transition of a Cyber program to another carrier, representing $89.9 million of gross premiums written for the three months ended December 31, 2023, partially offset by strategic organic and new program growth, as well higher A&H premiums.

    Insurance & Services generated segment income of $48.4 million for the three months ended December 31, 2024, compared to $16.8 million for the three months ended December 31, 2023. Segment income for the three months ended December 31, 2024 consists of underwriting income of $38.0 million (87.9% combined ratio) and net services income of $10.4 million, compared to underwriting income of $9.2 million (97.0% combined ratio) and net services income of $7.6 million for the three months ended December 31, 2023. The improvement in underwriting results was primarily driven by our decreased loss ratio mainly from lower attritional losses, partially offset by higher acquisition costs from business mix changes as we grow our Insurance & Services segment.

    Year ended December 31, 2024 and 2023

    Insurance & Services gross premiums written were $1,840.8 million for the year ended December 31, 2024, a decrease of $198.9 million, or 9.8%, compared to the year ended December 31, 2023, primarily driven by the movement of certain lines from Insurance & Services to Corporate, including the non-renewal of a Workers’ Compensation program and the planned transition of a Cyber program to another carrier, representing $421.8 million of gross premiums written for the year ended December 31, 2023, as well as lower A&H premiums, partially offset by strategic organic and new program growth.

    Insurance & Services generated segment income of $119.8 million for the year ended December 31, 2024, compared to income of $86.3 million for the year ended December 31, 2023. Segment income for the year ended December 31, 2024 consists of underwriting income of $75.2 million (93.5% combined ratio) and net services income of $44.6 million, compared to underwriting income of $44.0 million (96.5% combined ratio) and net services income of $42.3 million for the year ended December 31, 2023. The improvement in underwriting income of $31.2 million for the year ended December 31, 2024 compared to the year ended December 31, 2023 was primarily driven by our decreased loss ratio mainly from lower attritional losses, partially offset by higher acquisition costs from business mix changes as we grow our Insurance & Services segment.

    As of December 31, 2024, we have equity stakes in 20 entities (managing general agents (“MGAs”), Insurtech and Other) compared to 36 at the start of 2023. We continue to rationalize our MGA equity stakes and realize the significant off-balance sheet value of our consolidated MGAs, with 6 of these rationalized in 2024. Book value for our three consolidated MGAs was $90.1 million as of December 31, 2024, compared to $76.3 million at December 31, 2023, when adjusted to exclude Arcadian Risk Capital Ltd. which we deconsolidated on June 30, 2024.

    Investments

    Three months ended December 31, 2024 and 2023

    Total net investment income and realized and unrealized investment gains (losses) for the three months ended December 31, 2024 was primarily attributable to net investment income related to interest income from our debt portfolio of $61.2 million, partially offset by unrealized losses resulting from fair value analyses on our strategic investment portfolio.

    Total net investment income and realized and unrealized investment gains (losses) for the three months ended December 31, 2023 was primarily attributable to investment results from our debt and short-term investment portfolio of $68.5 million. This result was driven by interest income primarily on securitized assets and corporate debt positions, which made up 65.6% of our total investments as of December 31, 2023.

    Year ended December 31, 2024 and 2023

    Total net investment income and realized and unrealized investment gains (losses) for the year ended December 31, 2024 was primarily attributable to net investment income related to interest income from our debt and short-term investment portfolio of $289.7 million, partially offset by unrealized losses on other long-term investments of $70.0 million. Increased investment income is primarily due to the rotation of the portfolio from cash and cash equivalents and U.S. government and government agency positions to high-grade corporate debt and other securitized assets, in an effort to better diversify our portfolio. Losses on private other long-term investments were the result of updated fair value analyses consistent with the current insurtech market trends and disposals of positions as we execute our strategy to focus on underwriting relationships with MGAs.

    Total net investment income and realized and unrealized investment gains (losses) for the year ended December 31, 2023 was primarily attributable to net investment income related to interest income from our debt and short-term investment portfolio of $277.0 million.

    Webcast Details

    The Company will hold a webcast to discuss its fourth quarter 2024 results at 8:30 a.m. Eastern Time on February 19, 2025. The webcast of the conference call will be available over the Internet from the Company’s website at www.siriuspt.com under the “Investor Relations” section. Participants should follow the instructions provided on the website to download and install any necessary audio applications. The conference call will be available by dialing 1-877-451-6152 (domestic) or 1-201-389-0879 (international). Participants should ask for the SiriusPoint Ltd. fourth quarter 2024 earnings call.

    The online replay will be available on the Company’s website immediately following the call at www.siriuspt.com under the “Investor Relations” section.

    Safe Harbor Statement Regarding Forward-Looking Statements
    This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company’s control. The Company cautions you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “believes,” “intends,” “seeks,” “anticipates,” “aims,” “plans,” “targets,” “estimates,” “expects,” “assumes,” “continues,” “guidance,” “should,” “could,” “will,” “may” and the negative of these or similar terms and phrases. Specific forward-looking statements in this press release include, but are not limited to, statements regarding the trend of our performance as compared to the previous guidance, the success of our strategic transaction with CMIG International Holding Pte. Ltd., the current insurtech market trends, our ability to generate shareholder value and whether we will continue to have momentum in our business in the future. Actual events, results and outcomes may differ materially from the Company’s expectations due to a variety of known and unknown risks, uncertainties and other factors. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: our ability to execute on our strategic transformation, including re-underwriting to reduce volatility and improve underwriting performance, de-risking our investment portfolio, and transforming our business; the impact of unpredictable catastrophic events, including uncertainties with respect to current and future COVID-19 losses across many classes of insurance business and the amount of insurance losses that may ultimately be ceded to the reinsurance market, supply chain issues, labor shortages and related increased costs, changing interest rates and equity market volatility; inadequacy of loss and loss adjustment expense reserves, the lack of available capital, and periods characterized by excess underwriting capacity and unfavorable premium rates; the performance of financial markets, impact of inflation and interest rates, and foreign currency fluctuations; our ability to compete successfully in the insurance and reinsurance market and the effect of consolidation in the insurance and reinsurance industry; technology breaches or failures, including those resulting from a malicious cyber-attack on us, our business partners or service providers; the effects of global climate change, including increased severity and frequency of weather-related natural disasters and catastrophes, including wildfires, and increased coastal flooding in many geographic areas; geopolitical uncertainty, including the ongoing conflicts in Europe and the Middle East and the new presidential administration in the U.S.; our ability to retain key senior management and key employees; a downgrade or withdrawal of our financial ratings; fluctuations in our results of operations; legal restrictions on certain of SiriusPoint’s insurance and reinsurance subsidiaries’ ability to pay dividends and other distributions to SiriusPoint; the outcome of legal and regulatory proceedings and regulatory constraints on our business; reduced returns or losses in SiriusPoint’s investment portfolio; our exposure or potential exposure to corporate income tax in Bermuda and the E.U., U.S. federal income and withholding taxes and our significant deferred tax assets, which could become devalued if we do not generate future taxable income or applicable corporate tax rates are reduced; risks associated with delegating authority to third party managing general agents; future strategic transactions such as acquisitions, dispositions, investments, mergers or joint ventures; SiriusPoint’s response to any acquisition proposal that may be received from any party, including any actions that may be considered by the Company’s Board of Directors or any committee thereof; and other risks and factors listed under “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and other subsequent periodic reports filed with the Securities and Exchange Commission.

    All forward-looking statements speak only as of the date made and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

    Non-GAAP Financial Measures and Other Financial Metrics

    In presenting SiriusPoint’s results, management has included financial measures that are not calculated under standards or rules that comprise accounting principles generally accepted in the United States (“GAAP”). SiriusPoint’s management uses this information in its internal analysis of results and believes that this information may be informative to investors in gauging the quality of SiriusPoint’s financial performance, identifying trends in our results and providing meaningful period-to-period comparisons. Core underwriting income, Core net services income, Core income, and Core combined ratio are non-GAAP financial measures. Management believes it is useful to review Core results as it better reflects how management views the business and reflects the Company’s decision to exit the runoff business. Book value per diluted common share excluding accumulated other comprehensive income (loss) (“AOCI”) and tangible book value per diluted common share, as presented, are non-GAAP financial measures and the most directly comparable U.S. GAAP measure is book value per common share. Management believes it is useful to exclude AOCI because it may fluctuate significantly between periods based on movements in interest and currency rates. Management believes the effects of intangible assets are not indicative of underlying underwriting results or trends and make book value comparisons to less acquisitive peer companies less meaningful. Underlying net income is a non-GAAP financial measure and the most directly comparable U.S. GAAP measure is net income. Underlying net income excludes items which we believe are not indicative of the operations of our underlying businesses. Management believes it is useful to review underlying net income as it better reflects how we view the business, as well as provides investors with an alternative metric that can assist in predicting future earnings and profitability that are complementary to GAAP metrics. Underlying return on average common shareholders’ equity is calculated by dividing underlying net income available to SiriusPoint common shareholders for the period by the average common shareholders’ equity, excluding AOCI. Reconciliations of such non-GAAP financial measures to the most directly comparable GAAP figures are included in the attached financial information in accordance with Regulation G and Item 10(e) of Regulation S-K, as applicable.

    About the Company

    SiriusPoint is a global underwriter of insurance and reinsurance providing solutions to clients and brokers around the world. Bermuda-headquartered with offices in New York, London, Stockholm and other locations, we are listed on the New York Stock Exchange (SPNT). We have licenses to write Property & Casualty and Accident & Health insurance and reinsurance globally. Our offering and distribution capabilities are strengthened by a portfolio of strategic partnerships with Managing General Agents and Program Administrators. With approximately $2.6 billion total capital, SiriusPoint’s operating companies have a financial strength rating of A- (Stable) from AM Best, S&P and Fitch, and A3 (Stable) from Moody’s. For more information please visit www.siriuspt.com.

    Contacts

    Investor Relations
    Liam Blackledge – Investor Relations and Strategy Manager
    Liam.Blackledge@siriuspt.com
    + 44 203 772 3082

    Media
    Natalie King – Global Head of Marketing and External Communications
    Natalie.King@siriuspt.com
    + 44 20 3772 3102

           
    SIRIUSPOINT LTD.
    CONSOLIDATED BALANCE SHEETS (UNAUDITED)
    As of December 31, 2024 and December 31, 2023
    (expressed in millions of U.S. dollars, except per share and share amounts)
           
      December 31,
    2024    		   December 31,
    2023
    Assets      
    Debt securities, available for sale, at fair value, net of allowance for credit losses of $1.1 (2023 – $0.0) (cost – $5,143.8; 2023 – $4,754.6) $ 5,131.0     $ 4,755.4  
    Debt securities, trading, at fair value (cost – $187.3; 2023 – $568.1)   162.2       534.9  
    Short-term investments, at fair value (cost – $95.3; 2023 – $370.8)   95.8       371.6  
    Investments in related party investment funds, at fair value   116.5       105.6  
    Other long-term investments, at fair value (cost – $317.8; 2023 – $358.1) (includes related party investments at fair value of $100.7 (2023 – $173.7))   200.0       310.1  
    Total investments   5,705.5       6,077.6  
    Cash and cash equivalents   682.0       969.2  
    Restricted cash and cash equivalents   212.6       132.1  
    Redemption receivable from related party investment fund   —       3.0  
    Due from brokers   11.2       5.6  
    Interest and dividends receivable   44.0       42.3  
    Insurance and reinsurance balances receivable, net   2,054.4       1,966.3  
    Deferred acquisition costs, net   327.5       308.9  
    Unearned premiums ceded   463.9       449.2  
    Loss and loss adjustment expenses recoverable, net   2,315.3       2,295.1  
    Deferred tax asset   297.0       293.6  
    Intangible assets   140.8       152.7  
    Other assets   270.7       175.9  
    Total assets $ 12,524.9     $ 12,871.5  
    Liabilities      
    Loss and loss adjustment expense reserves $ 5,653.9     $ 5,608.1  
    Unearned premium reserves   1,639.2       1,627.3  
    Reinsurance balances payable   1,781.6       1,736.7  
    Deposit liabilities   17.4       134.4  
    Deferred gain on retroactive reinsurance   8.5       27.9  
    Debt   639.1       786.2  
    Due to brokers   18.0       6.2  
    Deferred tax liability   76.2       68.7  
    Liability-classified capital instruments   —       67.3  
    Share repurchase liability   483.0       —  
    Accounts payable, accrued expenses and other liabilities   269.2       278.1  
    Total liabilities   10,586.1       10,340.9  
    Commitments and contingent liabilities      
    Shareholders’ equity      
    Series B preference shares (par value $0.10; authorized and issued: 8,000,000)   200.0       200.0  
    Common shares (issued and outstanding: 116,429,057; 2023 – 168,120,022)   11.6       16.8  
    Additional paid-in capital   945.0       1,693.0  
    Retained earnings   784.9       601.0  
    Accumulated other comprehensive income (loss), net of tax   (4.1 )     3.1  
    Shareholders’ equity attributable to SiriusPoint shareholders   1,937.4       2,513.9  
    Noncontrolling interests   1.4       16.7  
    Total shareholders’ equity   1,938.8       2,530.6  
    Total liabilities, noncontrolling interests and shareholders’ equity $ 12,524.9     $ 12,871.5  
                   
    SIRIUSPOINT LTD.
    CONSOLIDATED STATEMENTS OF INCOME (LOSS) (UNAUDITED)
    For the three and twelve months ended December 31, 2024 and 2023
    (expressed in millions of U.S. dollars, except per share and share amounts)
           
      Three months ended   Twelve months ended
      December 31,
    2024    		   December 31,
    2023    		   December 31,
    2024    		   December 31,
    2023
    Revenues              
    Net premiums earned $ 590.3     $ 578.0     $ 2,343.5     $ 2,426.2  
    Net investment income   68.9       78.4       303.6       283.7  
    Net realized and unrealized investment losses   (40.7 )     (12.4 )     (88.7 )     (10.0 )
    Net realized and unrealized investment gains (losses) from related party investment funds   0.8       (1.0 )     9.7       (1.0 )
    Net investment income and net realized and unrealized investment gains (losses)   29.0       65.0       224.6       272.7  
    Other revenues   19.4       17.8       184.2       97.8  
    Loss on settlement and change in fair value of liability-classified capital instruments   (25.9 )     (15.0 )     (148.5 )     (59.4 )
    Total revenues   612.8       645.8       2,603.8       2,737.3  
    Expenses              
    Loss and loss adjustment expenses incurred, net   369.1       365.4       1,368.5       1,381.3  
    Acquisition costs, net   134.6       111.7       516.9       472.7  
    Other underwriting expenses   53.9       64.2       181.7       196.3  
    Net corporate and other expenses   58.1       64.5       232.1       258.2  
    Intangible asset amortization   3.0       2.9       11.9       11.1  
    Interest expense   19.6       19.8       69.6       64.1  
    Foreign exchange (gains) losses   (12.9 )     19.2       (10.0 )     34.9  
    Total expenses   625.4       647.7       2,370.7       2,418.6  
    Income (loss) before income tax (expense) benefit   (12.6 )     (1.9 )     233.1       318.7  
    Income tax (expense) benefit   (4.4 )     101.6       (30.7 )     45.0  
    Net income (loss)   (17.0 )     99.7       202.4       363.7  
    Net income attributable to noncontrolling interests   (0.3 )     (2.2 )     (2.5 )     (8.9 )
    Net income (loss) available to SiriusPoint   (17.3 )     97.5       199.9       354.8  
    Dividends on Series B preference shares   (4.0 )     (4.0 )     (16.0 )     (16.0 )
    Net income (loss) available to SiriusPoint common shareholders $ (21.3 )   $ 93.5     $ 183.9     $ 338.8  
    Earnings (loss) per share available to SiriusPoint common shareholders              
    Basic earnings (loss) per share available to SiriusPoint common shareholders $ (0.13 )   $ 0.52     $ 1.06     $ 1.93  
    Diluted earnings (loss) per share available to SiriusPoint common shareholders $ (0.13 )   $ 0.50     $ 1.04     $ 1.85  
    Weighted average number of common shares used in the determination of earnings (loss) per share              
    Basic   161,378,360       166,640,624       166,537,394       163,341,448  
    Diluted   161,378,360       173,609,940       169,470,681       169,607,348  
                                   
    SIRIUSPOINT LTD.
    SEGMENT REPORTING
       
      Three months ended December 31, 2024
      Reinsurance   Insurance &
    Services    		   Core   Eliminations
     (2)    		   Corporate   Segment
    Measure
    Reclass    		   Total
    Gross premiums written $ 312.2     $ 450.3     $ 762.5     $ —     $ (3.0 )   $ —     $ 759.5  
    Net premiums written   237.5       322.7       560.2       —       4.8       —       565.0  
    Net premiums earned   265.9       315.7       581.6       —       8.7       —       590.3  
    Loss and loss adjustment expenses incurred, net   148.3       175.3       323.6       (1.4 )     46.9       —       369.1  
    Acquisition costs, net   73.1       77.8       150.9       (27.6 )     11.3       —       134.6  
    Other underwriting expenses   26.2       24.6       50.8       —       3.1       —       53.9  
    Underwriting income (loss)   18.3       38.0       56.3       29.0       (52.6 )     —       32.7  
    Services revenues   —       51.6       51.6       (31.4 )     —       (20.2 )     —  
    Services expenses   —       41.2       41.2       —       —       (41.2 )     —  
    Net services income   —       10.4       10.4       (31.4 )     —       21.0       —  
    Segment income (loss)   18.3       48.4       66.7       (2.4 )     (52.6 )     21.0       32.7  
    Net investment income                   68.9       —       68.9  
    Net realized and unrealized investment losses     (40.7 )     —       (40.7 )
    Net realized and unrealized investment gains from related party investment funds     0.8       —       0.8  
    Other revenues                   (0.8 )     20.2       19.4  
    Loss on settlement and change in fair value of liability-classified capital instruments     (25.9 )     —       (25.9 )
    Net corporate and other expenses                   (16.9 )     (41.2 )     (58.1 )
    Intangible asset amortization                   (3.0 )     —       (3.0 )
    Interest expense                   (19.6 )     —       (19.6 )
    Foreign exchange gains                   12.9       —       12.9  
    Income (loss) before income tax expense $ 18.3     $ 48.4       66.7       (2.4 )     (76.9 )     —       (12.6 )
    Income tax expense           —       —       (4.4 )     —       (4.4 )
    Net income (loss)           66.7       (2.4 )     (81.3 )     —       (17.0 )
    Net income attributable to noncontrolling interest     —       —       (0.3 )     —       (0.3 )
    Net income (loss) available to SiriusPoint   $ 66.7     $ (2.4 )   $ (81.6 )   $ —     $ (17.3 )
                               
    Attritional losses $ 154.9     $ 188.2     $ 343.1     $ (1.4 )   $ 26.1     $ —     $ 367.8  
    Catastrophe losses   35.2       3.4       38.6       —       —       —       38.6  
    Prior year loss reserve development   (41.8 )     (16.3 )     (58.1 )     —       20.8       —       (37.3 )
    Loss and loss adjustment expenses incurred, net $ 148.3     $ 175.3     $ 323.6     $ (1.4 )   $ 46.9     $ —     $ 369.1  
                               
    Underwriting Ratios: (1)                          
    Attritional loss ratio   58.3 %     59.6 %     59.0 %                 62.3 %
    Catastrophe loss ratio   13.2 %     1.1 %     6.6 %                 6.5 %
    Prior year loss development ratio (15.7 )%   (5.2 )%   (10.0 )%               (6.3 )%
    Loss ratio   55.8 %     55.5 %     55.6 %                 62.5 %
    Acquisition cost ratio   27.5 %     24.6 %     25.9 %                 22.8 %
    Other underwriting expenses ratio   9.9 %     7.8 %     8.7 %                 9.1 %
    Combined ratio   93.2 %     87.9 %     90.2 %                 94.4 %
    (1) Underwriting ratios are calculated by dividing the related expense by net premiums earned.
    (2) Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.
       
      Three months ended December 31, 2023
      Reinsurance   Insurance &
    Services    		   Core   Eliminations
     (2)    		   Corporate   Segment
    Measure
    Reclass    		   Total
    Gross premiums written $ 251.7     $ 468.1     $ 719.8     $ —     $ (4.2 )   $ —     $ 715.6  
    Net premiums written   194.9       263.3       458.2       —       (3.6 )     —       454.6  
    Net premiums earned   243.2       315.2       558.4       —       19.6       —       578.0  
    Loss and loss adjustment expenses incurred, net   121.8       206.6       328.4       (1.4 )     38.4       —       365.4  
    Acquisition costs, net   65.5       66.8       132.3       (31.6 )     11.0       —       111.7  
    Other underwriting expenses   28.1       32.6       60.7       —       3.5       —       64.2  
    Underwriting income (loss)   27.8       9.2       37.0       33.0       (33.3 )     —       36.7  
    Services revenues   1.7       54.0       55.7       (40.0 )     —       (15.7 )     —  
    Services expenses   —       43.6       43.6       —       —       (43.6 )     —  
    Net services fee income   1.7       10.4       12.1       (40.0 )     —       27.9       —  
    Services noncontrolling income   —       (2.8 )     (2.8 )     —       —       2.8       —  
    Net services income   1.7       7.6       9.3       (40.0 )     —       30.7       —  
    Segment income (loss)   29.5       16.8       46.3       (7.0 )     (33.3 )     30.7       36.7  
    Net investment income                   78.4       —       78.4  
    Net realized and unrealized investment losses     (12.4 )     —       (12.4 )
    Net realized and unrealized investment losses from related party investment funds     (1.0 )     —       (1.0 )
    Other revenues                   2.1       15.7       17.8  
    Loss on settlement and change in fair value of liability-classified capital instruments     (15.0 )     —       (15.0 )
    Net corporate and other expenses                   (20.9 )     (43.6 )     (64.5 )
    Intangible asset amortization                   (2.9 )     —       (2.9 )
    Interest expense                   (19.8 )     —       (19.8 )
    Foreign exchange losses                   (19.2 )     —       (19.2 )
    Income (loss) before income tax benefit $ 29.5     $ 16.8       46.3       (7.0 )     (44.0 )     2.8       (1.9 )
    Income tax benefit           —       —       101.6       —       101.6  
    Net income           46.3       (7.0 )     57.6       2.8       99.7  
    Net (income) loss attributable to noncontrolling interest     —       —       0.6       (2.8 )     (2.2 )
    Net income available to SiriusPoint   $ 46.3     $ (7.0 )   $ 58.2     $ —     $ 97.5  
                               
    Attritional losses $ 143.5     $ 222.8     $ 366.3     $ (1.4 )   $ 11.7     $ —     $ 376.6  
    Catastrophe losses   (0.6 )     0.4       (0.2 )     —       0.1       —       (0.1 )
    Prior year loss reserve development   (21.1 )     (16.6 )     (37.7 )     —       26.6       —       (11.1 )
    Loss and loss adjustment expenses incurred, net $ 121.8     $ 206.6     $ 328.4     $ (1.4 )   $ 38.4     $ —     $ 365.4  
                               
    Underwriting Ratios: (1)                          
    Attritional loss ratio   59.0 %     70.7 %     65.6 %                 65.2 %
    Catastrophe loss ratio (0.2 )%     0.1 %     — %                 — %
    Prior year loss development ratio (8.7 )%   (5.3 )%   (6.8 )%               (1.9 )%
    Loss ratio   50.1 %     65.5 %     58.8 %                 63.2 %
    Acquisition cost ratio   26.9 %     21.2 %     23.7 %                 19.3 %
    Other underwriting expenses ratio   11.6 %     10.3 %     10.9 %                 11.1 %
    Combined ratio   88.6 %     97.0 %     93.4 %                 93.6 %
    (1) Underwriting ratios are calculated by dividing the related expense by net premiums earned.
    (2) Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.
       
      Twelve months ended December 31, 2024
      Reinsurance   Insurance &
    Services    		   Core   Eliminations
    (2)    		   Corporate   Segment
    Measure
    Reclass    		   Total
    Gross premiums written $ 1,335.6     $ 1,840.8     $ 3,176.4     $ —     $ 68.2     $ —     $ 3,244.6  
    Net premiums written   1,104.7       1,236.2       2,340.9       —       11.2       —       2,352.1  
    Net premiums earned   1,045.1       1,154.0       2,199.1       —       144.4       —       2,343.5  
    Loss and loss adjustment expenses incurred, net   554.3       714.1       1,268.4       (5.5 )     105.6       —       1,368.5  
    Acquisition costs, net   279.9       284.7       564.6       (121.4 )     73.7       —       516.9  
    Other underwriting expenses   86.1       80.0       166.1       —       15.6       —       181.7  
    Underwriting income (loss)   124.8       75.2       200.0       126.9       (50.5 )     —       276.4  
    Services revenues   —       222.9       222.9       (132.8 )     —       (90.1 )     —  
    Services expenses   —       176.2       176.2       —       —       (176.2 )     —  
    Net services fee income   —       46.7       46.7       (132.8 )     —       86.1       —  
    Services noncontrolling income   —       (2.1 )     (2.1 )     —       —       2.1       —  
    Net services income   —       44.6       44.6       (132.8 )     —       88.2       —  
    Segment income (loss)   124.8       119.8       244.6       (5.9 )     (50.5 )     88.2       276.4  
    Net investment income                   303.6       —       303.6  
    Net realized and unrealized investment losses     (88.7 )     —       (88.7 )
    Net realized and unrealized investment gains from related party investment funds     9.7       —       9.7  
    Other revenues                   94.1       90.1       184.2  
    Loss on settlement and change in fair value of liability-classified capital instruments     (148.5 )     —       (148.5 )
    Net corporate and other expenses                   (55.9 )     (176.2 )     (232.1 )
    Intangible asset amortization                   (11.9 )     —       (11.9 )
    Interest expense                   (69.6 )     —       (69.6 )
    Foreign exchange gains                   10.0       —       10.0  
    Income (loss) before income tax expense $ 124.8     $ 119.8       244.6       (5.9 )     (7.7 )     2.1       233.1  
    Income tax expense           —       —       (30.7 )     —       (30.7 )
    Net income (loss)           244.6       (5.9 )     (38.4 )     2.1       202.4  
    Net income attributable to noncontrolling interest     —       —       (0.4 )     (2.1 )     (2.5 )
    Net income (loss) available to SiriusPoint   $ 244.6     $ (5.9 )   $ (38.8 )   $ —     $ 199.9  
                               
    Attritional losses $ 579.8     $ 734.5     $ 1,314.3     $ (5.5 )   $ 112.8     $ —     $ 1,421.6  
    Catastrophe losses   49.5       5.3       54.8       —       —       —       54.8  
    Prior year loss reserve development   (75.0 )     (25.7 )     (100.7 )     —       (7.2 )     —       (107.9 )
    Loss and loss adjustment expenses incurred, net $ 554.3     $ 714.1     $ 1,268.4     $ (5.5 )   $ 105.6     $ —     $ 1,368.5  
                               
    Underwriting Ratios: (1)                          
    Attritional loss ratio   55.5 %     63.6 %     59.8 %                 60.7 %
    Catastrophe loss ratio   4.7 %     0.5 %     2.5 %                 2.3 %
    Prior year loss development ratio (7.2 )%   (2.2 )%   (4.6 )%               (4.6 )%
    Loss ratio   53.0 %     61.9 %     57.7 %                 58.4 %
    Acquisition cost ratio   26.8 %     24.7 %     25.7 %                 22.1 %
    Other underwriting expenses ratio   8.2 %     6.9 %     7.6 %                 7.8 %
    Combined ratio   88.0 %     93.5 %     91.0 %                 88.3 %
    (1) Underwriting ratios are calculated by dividing the related expense by net premiums earned.
    (2) Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.
       
      Twelve months ended December 31, 2023
      Reinsurance   Insurance &
    Services    		   Core   Eliminations
    (2)    		   Corporate   Segment
    Measure
    Reclass    		   Total
    Gross premiums written $ 1,271.0     $ 2,039.7     $ 3,310.7     $ —     $ 116.7     $ —     $ 3,427.4  
    Net premiums written   1,061.0       1,282.7       2,343.7       —       94.2       —       2,437.9  
    Net premiums earned   1,031.4       1,249.2       2,280.6       —       145.6       —       2,426.2  
    Loss and loss adjustment expenses incurred, net   490.3       815.4       1,305.7       (5.4 )     81.0       —       1,381.3  
    Acquisition costs, net   252.2       295.5       547.7       (137.2 )     62.2       —       472.7  
    Other underwriting expenses   82.7       94.3       177.0       —       19.3       —       196.3  
    Underwriting income (loss)   206.2       44.0       250.2       142.6       (16.9 )     —       375.9  
    Services revenues   (1.1 )     238.6       237.5       (149.6 )     —       (87.9 )     —  
    Services expenses   —       187.8       187.8       —       —       (187.8 )     —  
    Net services fee income (loss)   (1.1 )     50.8       49.7       (149.6 )     —       99.9       —  
    Services noncontrolling income   —       (8.5 )     (8.5 )     —       —       8.5       —  
    Net services income (loss)   (1.1 )     42.3       41.2       (149.6 )     —       108.4       —  
    Segment income (loss)   205.1       86.3       291.4       (7.0 )     (16.9 )     108.4       375.9  
    Net investment income                   283.7       —       283.7  
    Net realized and unrealized investment losses     (10.0 )     —       (10.0 )
    Net realized and unrealized investment losses from related party investment funds     (1.0 )     —       (1.0 )
    Other revenues                   9.9       87.9       97.8  
    Loss on settlement and change in fair value of liability-classified capital instruments     (59.4 )     —       (59.4 )
    Net corporate and other expenses                   (70.4 )     (187.8 )     (258.2 )
    Intangible asset amortization                   (11.1 )     —       (11.1 )
    Interest expense                   (64.1 )     —       (64.1 )
    Foreign exchange losses                   (34.9 )     —       (34.9 )
    Income before income tax benefit $ 205.1     $ 86.3       291.4       (7.0 )     25.8       8.5       318.7  
    Income tax benefit           —       —       45.0       —       45.0  
    Net income           291.4       (7.0 )     70.8       8.5       363.7  
    Net income attributable to noncontrolling interest     —       —       (0.4 )     (8.5 )     (8.9 )
    Net income available to SiriusPoint   $ 291.4     $ (7.0 )   $ 70.4     $ —     $ 354.8  
                               
    Attritional losses $ 618.9     $ 840.7     $ 1,459.6     $ (5.4 )   $ 76.5     $ —     $ 1,530.7  
    Catastrophe losses   12.2       1.3       13.5       —       11.3       —       24.8  
    Prior year loss reserve development   (140.8 )     (26.6 )     (167.4 )     —       (6.8 )     —       (174.2 )
    Loss and loss adjustment expenses incurred, net $ 490.3     $ 815.4     $ 1,305.7     $ (5.4 )   $ 81.0     $ —     $ 1,381.3  
                               
    Underwriting Ratios: (1)                          
    Attritional loss ratio   60.0 %     67.3 %     64.0 %                 63.1 %
    Catastrophe loss ratio   1.2 %     0.1 %     0.6 %                 1.0 %
    Prior year loss development ratio (13.7 )%   (2.1 )%   (7.3 )%               (7.2 )%
    Loss ratio   47.5 %     65.3 %     57.3 %                 56.9 %
    Acquisition cost ratio   24.5 %     23.7 %     24.0 %                 19.5 %
    Other underwriting expenses ratio   8.0 %     7.5 %     7.8 %                 8.1 %
    Combined ratio   80.0 %     96.5 %     89.1 %                 84.5 %
    (1) Underwriting ratios are calculated by dividing the related expense by net premiums earned.
    (2) Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.
       

    SIRIUSPOINT LTD.
    NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS & OTHER FINANCIAL MEASURES

    Non-GAAP Financial Measures

    Core Results

    Collectively, the sum of the Company’s two segments, Reinsurance and Insurance & Services, constitute “Core” results. Core underwriting income, Core net services income, Core income and Core combined ratio are non-GAAP financial measures. We believe it is useful to review Core results as it better reflects how management views the business and reflects our decision to exit the runoff business. The sum of Core results and Corporate results are equal to the consolidated results of operations.

    Core underwriting income – calculated by subtracting loss and loss adjustment expenses incurred, net, acquisition costs, net, and other underwriting expenses from net premiums earned.

    Core net services income – consists of services revenues which include commissions, brokerage and fee income related to consolidated MGAs, and other revenues, and services expenses which include direct expenses related to consolidated MGAs, services noncontrolling income which represent minority ownership interests in consolidated MGAs. Net services income is a key indicator of the profitability of the Company’s services provided.

    Core income – consists of two components, core underwriting income and core net services income. Core income is a key measure of our segment performance.

    Core combined ratio – calculated by dividing the sum of Core loss and loss adjustment expenses incurred, net, acquisition costs, net and other underwriting expenses by Core net premiums earned. Accident year loss ratio and accident year combined ratio are calculated by excluding prior year loss reserve development to present the impact of current accident year net loss and loss adjustment expenses on the Core loss ratio and Core combined ratio, respectively. Attritional loss ratio excludes catastrophe losses from the accident year loss ratio as they are not predictable as to timing and amount. These ratios are useful indicators of our underwriting profitability.

    Book Value Per Diluted Common Share Metrics

    Book value per diluted common share excluding AOCI and tangible book value per diluted common share, as presented, are non-GAAP financial measures and the most directly comparable U.S. GAAP measure is book value per common share. Management believes it is useful to exclude AOCI because it may fluctuate significantly between periods based on movements in interest and currency rates. Tangible book value per diluted common share excludes intangible assets. Management believes that effects of intangible assets are not indicative of underlying underwriting results or trends and make book value comparisons to less acquisitive peer companies less meaningful. Tangible book value per diluted common share is useful because it provides a more accurate measure of the realizable value of shareholder returns, excluding intangible assets.

    The following table sets forth the computation of book value per common share, book value per diluted common share and tangible book value per diluted common share as of December 31, 2024 and December 31, 2023:

           
      December 31,
    2024    		   December 31,
    2023
      ($ in millions, except share and per share amounts)
    Common shareholders’ equity attributable to SiriusPoint common shareholders $ 1,737.4     $ 2,313.9  
           
    Accumulated other comprehensive income (loss), net of tax   (4.1 )     3.1  
    Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI   1,741.5       2,310.8  
           
    Intangible assets   140.8       152.7  
    Tangible common shareholders’ equity attributable to SiriusPoint common shareholders $ 1,596.6     $ 2,161.2  
           
    Common shares outstanding   116,429,057       168,120,022  
    Effect of dilutive stock options, restricted share units and warrants   2,559,359       5,193,920  
    Book value per diluted common share denominator   118,988,416       173,313,942  
           
    Book value per common share $ 14.92     $ 13.76  
    Book value per diluted common share $ 14.60     $ 13.35  
    Book value per diluted common share ex. AOCI $ 14.64     $ 13.33  
    Tangible book value per diluted common share $ 13.42     $ 12.47  
                   

    Underlying Net Income

    Underlying net income is a non-GAAP financial measure and the most directly comparable U.S. GAAP measure is net income. Underlying net income excludes items which we believe are not indicative of the operations of our underlying businesses, including realized and unrealized gains (losses) on strategic and other investments and liability-classified capital instruments, income (expense) related to loss portfolio transfers, deferred tax assets attributable to the enactment of the Bermuda corporate income tax, development on COVID-19 reserves resulting from the COVID-19 reserve study performed concurrently with the settlement of the Series A Preference shares in the third quarter of 2024, and foreign exchange gains (losses). We believe it is useful to review underlying net income as it better reflects how we view the business, as well as provides investors with an alternative metric that can assist in predicting future earnings and profitability that are complementary to GAAP metrics. Underlying return on average common shareholders’ equity is calculated by dividing underlying net income available to SiriusPoint common shareholders for the period by the average common shareholders’ equity, excluding AOCI. Management believes it is useful to exclude AOCI because it may fluctuate significantly between periods based on movements in interest and currency rates.

    The following table sets forth the computation of underlying net income for the three and twelve months ended December 31, 2024 and 2023:

           
      Three months ended   Twelve months ended
      December 31,
    2024    		   December 31,
    2023    		   December 31,
    2024    		   December 31,
    2023
    Net income (loss) available to SiriusPoint common shareholders $ (21.3 )   $ 93.5     $ 183.9     $ 338.8  
    Non-recurring adjustments:              
    Gains on sale or deconsolidation of consolidated MGAs   —       —       (96.0 )     —  
    Losses on strategic and other investments   34.3       15.4       90.5       40.2  
    MGA & Strategic Investment Rationalization   34.3       15.4       (5.5 )     40.2  
                   
    Losses on settlement and change in fair value of liability-classified capital instruments (“CMIG Merger Instruments”)   25.9       15.0       148.5       59.4  
    COVID-19 favorable reserve development (1)   —       —       (19.9 )     —  
    CMIG Instruments & Transactions   25.9       15.0       128.6       59.4  
                   
    (Income) expense related to loss portfolio transfers   28.9       2.1       44.6       (101.6 )
    Bermuda corporate income tax enactment   —       (100.8 )     —       (100.8 )
    Foreign exchange (gains) losses   (12.9 )     19.2       (10.0 )     34.9  
    Income tax expense on adjustments (2)   (11.4 )     (7.8 )     (38.1 )     (4.9 )
                   
    Underlying net income available to SiriusPoint common shareholders $ 43.5     $ 36.6     $ 303.5     $ 266.0  
                                   
    Return on average common shareholders’ equity attributable to SiriusPoint common shareholders   (4.0 )%     17.1 %     9.1 %     16.2 %
                   
    Common shareholders’ equity attributable to SiriusPoint common shareholders – beginning of period $ 2,494.9     $ 2,050.0     $ 2,313.9     $ 1,874.7  
    Accumulated other comprehensive income (loss), net of tax   81.5       (135.4 )     3.1       (45.0 )
    Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI – beginning of period   2,413.4       2,185.4       2,310.8       1,919.7  
                   
    Common shareholders’ equity attributable to SiriusPoint common shareholders – end of period   1,737.4       2,313.9       1,737.4       2,313.9  
    Impact of adjustments from above   64.8       (56.9 )     119.6       (72.8 )
    Accumulated other comprehensive income (loss), net of tax   (4.1 )     3.1       (4.1 )     3.1  
    Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI – end of period   1,806.3       2,253.9       1,861.1       2,238.0  
                   
    Average common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI $ 2,109.9     $ 2,219.7     $ 2,086.0     $ 2,078.9  
                   
    Underlying return on average common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI   8.2 %     6.6 %     14.5 %     12.8 %
    (1) This development, which is primarily related to business written by legacy Third Point Reinsurance Ltd., is the result of the COVID-19 reserve study performed concurrently with the settlement of the Series A Preference shares in the third quarter of 2024.
    (2) An effective tax rate of 15% is applied to the adjustments to calculate the income tax expense, where applicable.
       

    Other Financial Measures

    Annualized Return on Average Common Shareholders’ Equity Attributable to SiriusPoint Common Shareholders

    Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders is calculated by dividing annualized net income (loss) available to SiriusPoint common shareholders for the period by the average common shareholders’ equity determined using the common shareholders’ equity balances at the beginning and end of the period.

    Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders for the three and twelve months ended December 31, 2024 and 2023 was calculated as follows:

           
      Three months ended   Twelve months ended
      December 31,
    2024    		   December 31,
    2023    		   December 31,
    2024    		   December 31,
    2023
      ($ in millions)
    Net income (loss) available to SiriusPoint common shareholders $ (21.3 )   $ 93.5     $ 183.9     $ 338.8  
    Common shareholders’ equity attributable to SiriusPoint common shareholders – beginning of period   2,494.9       2,050.0       2,313.9       1,874.7  
    Common shareholders’ equity attributable to SiriusPoint common shareholders – end of period   1,737.4       2,313.9       1,737.4       2,313.9  
    Average common shareholders’ equity attributable to SiriusPoint common shareholders $ 2,116.2     $ 2,182.0     $ 2,025.7     $ 2,094.3  
    Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders (4.0 )%     17.1 %     9.1 %     16.2 %
                               

    The MIL Network –

  • MIL-OSI: Athene Holding Ltd. Declares First Quarter 2025 Preferred Stock Dividends

    Source: GlobeNewswire (MIL-OSI)

    WEST DES MOINES, Iowa, Feb. 18, 2025 (GLOBE NEWSWIRE) — Athene Holding Ltd. (“Athene”) announced that it has declared the following preferred stock dividends on its non-cumulative preferred stock (represented by depositary shares, each representing a 1/1,000th interest in a share of preferred stock), payable on March 31, 2025 to holders of record as of March 15, 2025.

    • Quarterly dividend of $396.875 per share on the company’s 6.35% Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series A (the “Series A Preferred Stock”); holders of depositary shares will receive $0.396875 per depositary share.
    • Quarterly dividend of $351.5625 per share on the company’s 5.625% Fixed-Rate Perpetual Non-Cumulative Preferred Stock, Series B (the “Series B Preferred Stock”); holders of depositary shares will receive $0.3515625 per depositary share.
    • Quarterly dividend of $398.4375 per share on the company’s 6.375% Fixed-Rate Reset Perpetual Non-Cumulative Preferred Stock, Series C (the “Series C Preferred Stock”); holders of depositary shares will receive $0.3984375 per depositary share.
    • Quarterly dividend of $304.6875 per share on the company’s 4.875% Fixed-Rate Perpetual Non-Cumulative Preferred Stock, Series D (the “Series D Preferred Stock”); holders of depositary shares will receive $0.3046875 per depositary share.
    • Quarterly dividend of $484.375 per share on the company’s 7.750% Fixed-Rate Reset Perpetual Non-Cumulative Preferred Stock, Series E (the “Series E Preferred Stock”); holders of depositary shares will receive $0.484375 per depositary share.

    Depositary shares for the Series A Preferred Stock are listed on the New York Stock Exchange (“NYSE”) under the ticker symbol “ATHPrA,” depositary shares for the Series B Preferred Stock are listed on the NYSE under the ticker symbol “ATHPrB,” depositary shares for the Series C Preferred Stock are listed on the NYSE under the ticker symbol “ATHPrC,” depositary shares for the Series D Preferred Stock are listed on the NYSE under the ticker symbol “ATHPrD,” and depositary shares for the Series E Preferred Stock are listed on the NYSE under the ticker symbol “ATHPrE.”

    About Athene
    Athene is a leading retirement services company with over $360 billion of total assets as of December 31, 2024, and operations in the United States, Bermuda, Canada, and Japan. Athene is focused on providing financial security to individuals by offering an attractive suite of retirement income and savings products and also serves as a solutions provider to corporations. For more information, please visit www.athene.com.

    Contact:

    Jeanne Hess
    VP, External Relations
    +1 646 768 7319
    jeanne.hess@athene.com

    The MIL Network –

  • MIL-OSI USA: Peters Reintroduces Bipartisan Bill to Authorize FEMA to Accept Tribal Government Requests for Fire Management Assistance Grants

    US Senate News:

    Source: United States Senator for Michigan Gary Peters

    WASHINGTON, D.C. –U.S. Senator Gary Peters(D-MI), Ranking Member of the Homeland Security and Governmental Affairs Committee, reintroduced bipartisan legislation that requires FEMA to accept requests from Tribal governments to receive a Fire Management Assistance Grant (FMAG) Declaration. FEMA can currently accept Emergency and Major Disaster Declaration requests from Tribal governments, but the agency cannot accept FMAG requests directly from Tribes. This limitation impedes Tribes’ capacity to access federal resources for wildfire management and undermines Tribal independence by forcing them to work through state governments rather than having the option to interact directly with federal authorities for this specific type of assistance.    

    “When wildfires threaten Tribal communities, Tribal governments must receive the assistance they need quickly,” said Senator Peters. “This bipartisan legislation allows FEMA to directly provide Tribal governments with federal resources to combat wildfires.”  

    Tribal governments currently face unnecessary limitations in accessing FEMA’s wildfire disaster assistance. While the Sandy Recovery Improvement Act granted federally recognized Tribal governments the authority to directly request Emergency and Major Disaster Declarations from the President or to go through a state request, Tribes cannot do the same for Fire Management Assistance Grant (FMAG) Declarations. Instead, they must work through state governments to receive FMAG assistance, despite their status as sovereign nations.  

    The Fire Management Assistance Grants for Tribal Governments Act aims to address this gap. This bipartisan legislation would modify the Robert T. Stafford Disaster Relief and Emergency Assistance Act to give Tribal governments the same options for FMAG Declarations that they already have for other FEMA declarations: either requesting assistance directly from FEMA or to work through their state. This change would create consistency across all three types of FEMA disaster declarations: Fire Management Assistance Grant (FMAG) Declarations, Emergency Declarations, and Major Disaster Declarations.  

    The bill has been endorsed by the National Congress of American Indians (NCAI), the National Native American Law Enforcement Association, and the National Association of Counties.  

    MIL OSI USA News –

  • MIL-OSI New Zealand: Safety improvements for busy SH5 intersection

    Source: New Zealand Government

    A busy intersection on SH5 will be made safer with the construction of a new roundabout at the intersection of SH28/Harwoods Road, as we deliver on our commitment to help improve road safety through building safer infrastructure, Transport Minister Chris Bishop says.

    “Safety is one of the Government’s strategic priorities in transport investment, alongside economic growth and productivity, and funding is available for safety improvements to be made at the highest-risk locations, like this one between Tīrau and Tārukenga,” Mr Bishop says.

    “SH5 between Tīrau and Tārukenga is an important route for locals and tourists, freight and agricultural vehicles travelling between Waikato and Bay of Plenty. Planned safety improvements will complement work already completed between Ngongotahā on SH5 and locations along SH1 between Cambridge and Taupō.

    “The Harwoods Road roundabout will start construction this year in September and take about 8 months to build. It is one of several safety improvements planned for the stretch of SH5 between Tīrau and Tārukenga Marae Road. 

    “The Waimakariri Road right-turn bay construction includes some road widening near the intersection and will be built as part of resealing work next month.

    “Funding has also been allocated to complete design work for a roundabout at SH28/Whites Road and general widening between Whites and Harwoods Roads to allow for wide centrelines. Completing this design work means they will be ready to go as further funding becomes available.

    “The Government is focused on improving road safety through better maintenance and resilience of the state highway network, fixing potholes, strong enforcement by Police on the leading causes of deaths and serious injuries, and building new and safer roads.

    “Around 8,500 vehicles use the SH28/Harwoods Road intersection every day, and up to 20% of them are heavy vehicles. Building new and safer infrastructure is all part of our plan to help Kiwis get to where they need to go quickly and safely, and I look forward to this work getting underway later this year.”

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: The challenge of gene editing a plant (NT)

    Source: Plant and Food New Zealand – Press Release/Statement:

    Headline: The challenge of gene editing a plant (NT)

    Gene editing is a new technology with the potential to breed new crops faster. With changing regulations worldwide on how gene editing can be incorporated into food production systems, what does it actually take to gene edit a plant crop?   This week Scigest host and scientist Jay Jayaraman speaks to Zac Hanley, GM Science – New Cultivar Innovation about the science of gene editing plants. They talk about the process of gene editing, some of the challenges in using the technology and how gene editing could help develop the plant varieties of the future.
    For more about the use of gene technologies in food production, see https://www.plantandfood.com/en-nz/gene-technologies. To view our full catalogue of podcasts including extra links on some podcasts please go to our Scigest pages: www.plantandfood.com/scigest

    – –

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Serious crash in Hunua

    Source: New Zealand Police (District News)

    Police are attending a serious crash in Hunua.

    At around 9am, two vehicles collided at the intersection of Paparimu and Hunua roads.

    One person is currently in a critical condition and will be airlifted to Auckland City Hospital.

    The Serious Crash Unit will examine the scene.

    Diversions are in place in the area and an investigation will commence into the crash in due course.

    ENDS.

    Jarred Williamson/NZ Police

    MIL OSI New Zealand News –

  • MIL-OSI United Nations: Amid Evolving Threat Landscape, UN Peacekeepers Must Have Adequate Resources to Protect Vulnerable Populations in Conflict Zones, Speakers Tell Special Committee

    Source: United Nations General Assembly and Security Council

    In an ever-shifting security landscape, ensuring sufficient funding, technology and training, and promoting gender equality in peacekeeping operations while also recognizing the importance of safeguarding vulnerable populations in conflict zones is more critical than ever, speakers told the opening of the Special Committee on Peacekeeping Operations, which also marked 60 years since its establishment.

    Vice-President of the General Assembly Cherdchai Chaivaivid (Thailand), speaking on behalf of Assembly President Philémon Yang (Cameroon), said that, for nearly 80 years, UN peacekeepers have protected civilians from violence and supported vital political dialogue between parties to conflict.

    “The safety and security of United Nations peacekeepers remains of utmost importance,” he stressed, adding that since 1948 over 3,500 blue helmets have lost their lives serving in UN peacekeeping operations.  “Going forward, we will need mandates suited for an evolving threat landscape,” he said, also emphasizing the need for improved capacity to assess conflict situations, as well as effective planning and management throughout the peacekeeping cycle.

    “It is also vital to improve cooperation of poor countries with other critical partners, increase trust among stakeholders and manage local and international expectations in the Pact for the Future,” he went on to say.  Further, Member States must enhance collaboration between the UN and regional and subregional organizations, particularly the African Union.

    Adoption of Pact for the Future Created ‘Transformative Moment’ for Peacekeeping

    Martha Ama Akyaa Pobee, Assistant Secretary-General for Africa in the Departments of Political and Peacebuilding Affairs and Peace Operations, speaking on behalf of Jean-Pierre Lacroix, UN Under-Secretary-General for Peace Operations, said that this annual engagement by Member States is a key source of the “enduring strength as a preeminent symbol of multilateral resolve”.  Peacekeepers can be a “lifeline” for hundreds of thousands of civilians caught in conflict.

    The Committee’s sixtieth anniversary comes at a transformative moment for peacekeeping following the adoption of the Pact for the Future, where Member States equivocally reaffirmed peacekeeping as a critical tool to maintain international peace and security, she said.  “You have a unique opportunity to build on those efforts by providing a platform for dialogue, presenting innovative ideas and ensuring the effectiveness and accountability of UN peacekeeping operations,” she added.

    More Peacekeeper Resources Key amid Complex Terrain Marked by Geopolitical Challenges and Volatility

    As delegates took the floor, many stressed the need for more resources so that peacekeepers can carry out their work in an ever-shifting security landscape, with Morocco’s delegate, speaking for Non-Aligned Movement, noting that UN peacekeeping operations are currently navigating a complex terrain marked by geopolitical challenges.  “Funding and limited resources remain a significant issue,” she stressed.  “As a result, peacekeeping operations find themselves in a delicate position, needing to adapt to the realities on the ground while responding to international expectations.”

    Troop- and Police-Contributing Countries Stress Consultation with Them Key for Drafting Clear, Achievable Mandates

    Speakers from troop- and police-contributing countries stressed the Security Council must further consult with them to draft clear and achievable mandates that preserve the primacy of political solutions and help peacekeeping operations better address the evolving nature of global conflicts.

    “Our peacekeepers continue to serve in nations where security situations are volatile, but despite such challenges, our peacekeepers are striving to fulfil their mandates, and therefore we must ensure their safety and security,” said Indonesia’s delegate, speaking for the Association of Southeast Asian Nations (ASEAN).  Noting that its member States contribute over 5,000 peacekeepers across various UN missions, he called for better quality training and equipment for the troops.

    Canada’s representative, also speaking for Australia and New Zealand, and echoing other speakers, emphasized the importance of including women in all areas of peacekeeping missions, and commitment to the women, peace and security agenda as a cornerstone of the UN’s efforts to promote gender equality and lasting peace, reduce training obstacles in order to guarantee women’s full, equal participation.  “We urge missions to step up efforts to support the role of women in conflict prevention, resolution and peacebuilding,” he said.  He further underscored the importance of planning and the deliberate implementation of transitions and drawdowns in peacekeeping operations, stressing:  “Several agencies need to be involved from the very beginning of these processes to identify the capacity of the host Government, the UN and civil society actors to support those transitions.”

    Countries Hosting Peacekeeping Missions Urge Focus on Linguistic Capacity-Building, Improved Cooperation

    Speakers from countries hosting peacekeeping missions laid out their priorities and concerns, as well, with the representative of the Democratic Republic of the Congo, speaking for the French-Speaking Ambassadors Group, emphasizing that French-speaking areas host several operations that face growing and complex challenges.  “The fragility of ceasefire agreements, the high cost of conflict for the civilian population and the complexity of peace processes are making the work of the blue helmets more essential than ever,” he stressed. Recalibrating peacekeeping capacities is vital to improve cooperation with host States and “strengthen the links of trust” with the local population.

    “This is a priority that must also be looked at from the point of view of linguistic and intellectual capacity-building,” he said, calling for a focus on language abilities from the strategic planning to the operational phases.  Many countries in the Francophone space want to contribute more to peacekeeping operations, but they are being held back by language barriers at every stage of their engagement.

    Donor Countries Pledge Continued Support

    Donor countries, meanwhile, pledged to continue to support UN peacekeeping missions, and echoed many other Member States in calling attention to the unique opportunity created by the adoption of the Pact for the Future.  The European Union’s speaker, noting that the bloc provided almost one quarter of the UN’s peacekeeping budget last year, said it will continue to contribute constructively to the upcoming negotiations with the intent to improve UN peacekeeping in accordance with the Pact.  “We currently deploy almost 4,000 military police and civilian personnel to UN peace operations,” he said, adding:  “We cannot continue to demand more from our peacekeeping missions by expanding their mandates without providing the necessary resources for their implementation.”

    UN peacekeeping operations are confronted with increasingly complex challenges, he observed, citing regional threats, the effects of climate change, mis- and disinformation, increased presence of non-State actors, such as private military companies, transnational criminal activities and the weaponization of new and emerging technology, as demonstrated by the first attack ever last September on UN peacekeepers with an improvised armed unmanned aerial system.

    Election of Officers

    At the opening of the meeting, the Committee by acclamation elected Francisco Tropepi (Argentina), Michael Gort (Canada), Takayuki Iriya (Japan) and Michal Miarka (Poland) as Vice-Chairs; and Mohamed Soliman (Egypt) as Rapporteur.  Michael Gort (Canada) was elected to serve as Chair of the Working Group of the Whole.

    MIL OSI United Nations News –

  • MIL-OSI New Zealand: Serious crash in Pukekohe

    Source: New Zealand Police (District News)

    Police are attending a serious crash in Pukekohe this morning.

    The crash occurred at around 9.15am, involving a vehicle and pedestrian at the intersection of Ward and Wellington streets.

    The pedestrian is currently in a serious condition.

    Police are aware that traffic has built up in the area, and we are advising the community that there will be diversions put in place.

    Please avoid the area if at all possible.

    ENDS.

    Jarred Williamson/NZ Police

    MIL OSI New Zealand News –

  • MIL-OSI USA: Attorney General Bonta Joins Multistate Coalition to Continue Supporting Pennsylvania’s Commonsense Age-Based Firearm Restrictions

    Source: US State of California

    Tuesday, February 18, 2025

    Contact: (916) 210-6000, agpressoffice@doj.ca.gov

    OAKLAND — California Attorney General Rob Bonta, as part of a coalition of 19 attorneys general, filed a brief in support of the State of Pennsylvania’s petition for rehearing en banc in Lara v. Commissioner of Pennsylvania State Police. Pennsylvania law sets the minimum age at 21 for securing a permit to carry a concealed handgun in public and during states of emergency. The case is currently pending in the U.S. Court of Appeals for the Third Circuit after remand from the U.S. Supreme Court for further consideration in light of the Supreme Court’s decision in United States v. Rahimi. The coalition’s brief argues that the Third Circuit’s three-judge panel erred in its decision to strike down the laws as unconstitutional under the Second Amendment and that the panel’s reasoning could undermine efforts by states to protect their citizens through the application of similar age-limitation laws. In fact, most states across the nation impose some age-based restrictions on the possession, purchase, or use of firearms reflecting their collective judgment that such laws promote public safety and curb gun violence within their borders.

    “States must have the ability to protect citizens and communities from the harmful effects of gun violence and promote the safe use of firearms,” said Attorney General Bonta. “The Third Circuit’s decision to overturn Pennsylvania’s law is inconsistent with our nation’s historical tradition as well as longstanding state and federal laws imposing age-based restrictions on the purchase and possession of firearms. We stand with Pennsylvania and other states in their efforts to curb gun violence through these kinds of commonsense laws that improve public safety.” 

    In the brief, the coalition asserts that Pennsylvania’s law is constitutional under the Second Amendment and is consistent with states’ authority and a historical tradition of state regulations promoting gun safety and protecting communities from gun violence. The coalition argues that the Third Circuit’s decision to strike down Pennsylvania’s law misreads the U.S. Supreme Court’s Bruen decision, which preserves states’ authority to regulate firearms through laws that are “consistent with the Second Amendment’s text and historical understanding.” States still retain meaningful authority to regulate access to firearms even after Bruen and Rahimi.

    Attorney General Bonta urges the Court of Appeals sitting en banc to overturn the panel’s decision because: 

    • The Second Amendment allows states to enact varied measures to promote gun safety and protect against gun violence consistent with historical tradition, and states have long exercised this power by enacting laws to promote safety, prevent crime, and minimize gun violence within their borders.
    • Pennsylvania’s age-based restrictions are consistent with measures taken by other states and fall comfortably within states’ authority to regulate firearms. Most states and the District of Columbia impose age-based restrictions regarding the use, purchase, or possession of firearms, and a majority of states have determined that those under the age of 21 should be more restricted in their ability to carry firearms in public. Courts have previously upheld these restrictions relying on the historical record as is now required by Bruen.
    • The panel’s categorical rejection of relevant historical evidence from the time period when the Fourteenth Amendment incorporated the Second Amendment against the states is inconsistent with Supreme Court precedent and fundamental principles of constitutional adjudication.

    Attorney General Bonta joins the attorneys general of Colorado, Connecticut, Delaware, the District of Columbia, Hawaii, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont and Washington in filing the brief.

    A copy of the brief can be found here.

    # # #

    MIL OSI USA News –

  • MIL-OSI USA: Welch, Padilla Lead Colleagues from Disaster-Impacted States in Demanding Answers About Elon Musk and DOGE’s Access to Disaster Victims’ Personal Data

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)

    WASHINGTON, D.C. – U.S. Senator Peter Welch (D-Vt.) and U.S. Senator Alex Padilla (D-Calif.) led ten of their colleagues from disaster-impacted states in demanding answers from the Federal Emergency Management Agency (FEMA) on the potential security breach created by Elon Musk’s Department of Government Efficiency (DOGE), which has reportedly accessed the sensitive personal data of disaster victims. The Senators also requested more information on the procedures FEMA follows to protect data from misuse, and if DOGE’s unaccountable agents were in compliance with federal law. 
    Senators Welch and Padilla were joined by U.S. Senators Bernie Sanders (I-Vt.), Adam Schiff (D-Calif.), Mazie Hirono (D-Hawaii), Martin Heinrich (D-N.M.), Ron Wyden (D-Ore.), Edward Markey (D-Mass.), Chris Van Hollen (D-Md.), Richard Blumenthal (D-Conn.), Jeff Merkley (D-Ore.), and Amy Klobuchar (D-Minn.). 
    “The United States has suffered from a growing number of natural disasters over the past several years—from severe flooding in Vermont and hurricanes in North Carolina, to catastrophic wildfires in Hawaii and California. In order to register for federal disaster assistance and receive help rebuilding their communities, our constituents have provided their personally identifiable information to FEMA. They did not do so with the expectation that their sensitive information would be turned over to unvetted, unaccountable DOGE agents,” the Senators wrote to Cameron Hamilton, the Senior Official Performing the Duties of FEMA Administrator. 
    “Mr. Musk has stated his desire to eliminate waste at FEMA. We agree the country must examine and thoughtfully consider reforms to the operation of FEMA. Our constituents have experienced first-hand the frustrating bureaucracies that hinder the federal disaster recovery process. Congress must take steps to equip FEMA and communities with the tools needed to better assist disaster victims after the storm has passed. We stand ready to work with anyone willing to fix it,” continued the Senators. “But such reforms do not require, or come close to justifying, the invasive measures DOGE has reportedly undertaken.” 
    The Senators concluded: “When disaster strikes, Americans should have confidence the government will safeguard their data, regardless of the Administration at the helm. Reports indicate you have breached that trust—perhaps in violation of federal privacy law.” 
    In their letter, the Senators requested responses to the following questions to understand the scope of that breach and the extent of FEMA’s compliance with federal law: 

    Please provide a complete list of individuals authorized by FEMA to access disaster victims’ data and records during the period between January 20, 2025, and February 14, 2025. Please indicate whether those individuals are employees of FEMA, the White House, DOGE, or another federal agency and specify the agency. If the individuals are not federal employees, please indicate that in your response.  

    What are the individuals specified above authorized to do with disaster victims’ data and records, and what types of data were obtained?  

    What procedures does FEMA follow to protect disaster victims’ data from misuse? Are DOGE-affiliated individuals required to follow those procedures?   

    How many Americans’ personally identifiable data has been accessed by DOGE-affiliated individuals? What vetting did these individuals undergo prior to their being granted access to FEMA systems? 

    Read the full text of the letter. 

    MIL OSI USA News –

  • MIL-OSI Australia: House fire Croydon

    Source: South Australia Police

    Police and emergency services were called to reports of a house fire at Scotia Street earlier this morning.

    Just after 12.10am today Wednesday 19 February police and emergency services were called to reports of a house fire.

    When MFS entered the property they located cannabis plants and hydroponic equipment.

    The fire was contained to the roof space causing minor damage to the structure.

    The property was vacant and no reports of injuries.

    Police will return to the scene to dismantle the grow house and investigations are ongoing.

    Anyone with information is asked to contact Crime Stoppers on 1800 333 000 or online at www.crimestopperssa.com.au – you can remain anonymous.

    MIL OSI News –

  • MIL-OSI Security: Brian Dugan Named Assistant Director of the Training Division

    Source: Federal Bureau of Investigation FBI Crime News (b)

    The Federal Bureau of Investigation has named Brian Dugan as the assistant director of the Training Division. Most recently, Mr. Dugan served as the special agent in charge of the Norfolk Field Office in Virginia.

    Mr. Dugan joined the FBI as a special agent in 1998 and was first assigned to the San Diego Field Office, where he largely worked domestic terrorism cases. He transferred to the San Francisco Field Office in 1999 to conduct gang investigations.

    In 2006, Mr. Dugan reported to the FBI Academy in Quantico, Virginia, as an instructor and developed new law enforcement and human intelligence courses for the FBI. He left the Academy in 2009 to work on a violent gang squad in the Northern Virginia Resident Agency of the Washington Field Office.

    Mr. Dugan was promoted to supervisory special agent and transferred to the Chicago Field Office in 2013 to lead a squad investigating child pornography and human trafficking. He also established a new gang squad addressing gun and gang violence on the North Side. In 2017, he was promoted to assistant special agent in charge of a counterintelligence branch at the Washington Field Office.

    In 2019, Mr. Dugan was promoted to section chief in the Directorate of Intelligence at FBI Headquarters. He was promoted to special agent in charge of the Norfolk Field Office in 2020.

    Prior to joining the FBI, Mr. Dugan served in the U.S. Marine Corps. He was commissioned as a second lieutenant and rose to captain and served in Japan, Korea, and Russia. He earned a Bachelor’s of Science in criminal justice from Pennsylvania State University and a Master’s in Business Administration from Touro University of California.

    MIL Security OSI –

  • MIL-Evening Report: Ne Zha 2: the ancient philosophies behind China’s record-breaking new animated film

    Source: The Conversation (Au and NZ) – By Yanyan Hong, PhD Candidate in Communication and Media Studies, University of Adelaide

    IMDB

    On the surface, Ne Zha 2: The Sea’s Fury (2025), the sequel to the 2019 Chinese blockbuster Nezha: Birth of the Demon Child, is a high-octane, action-packed and visually stunning animated spectacle, full of hilarious moments and thrilling fight scenes.

    But beneath all that, it’s something much deeper: a bold re-imagining of Chinese traditional mythology, cultural history and philosophies.

    Unlike Hollywood’s classic hero’s journey, Ne Zha 2 is rooted in Chinese thought, weaving together ideas from Buddhism, Confucianism, Daoism, Mohism, Legalism and more.

    Through the story of a baby-faced warrior god who battles demons, it channels centuries of Chinese tradition into something refreshing, relevant and undeniably global.

    The film’s success speaks for itself. Directed by Yang Yu (aka Jiao Zi), Ne Zha 2 has shattered multiple global box office records, pulling in more than US$1 billion in China in just one week.

    It has even entered the top 10 highest-grossing films of all time, and is the second highest-grossing animated film behind Inside Out 2 (2024).

    But what makes Ne Zha 2 so compelling beyond its visual spectacle? At its heart, it’s an inspiring story about identity, free will, self-determination and rebellion – ideas that resonate far beyond China.

    A child hero forged in myth and philosophy

    Ne Zha is a rebellious deity in traditional Chinese folklore – a boy born with immense superpower, who defies both divine and social expectations.

    Most people who know of Ne Zha will trace his legend back to Fengshen Yanyi, or Investiture of the Gods, a Ming Dynasty novel that blends mythology with historical elements.

    Ne Zha’s true origins, however, trace back to India.

    “Ne Zha” is a shortened transliteration of the Sanskrit Nalakuvara (or Nalakūbara), an Indian mythological figure who appears in Buddhist and Hindu mythology.

    As Buddhism spread to China during the Tang Dynasty, Ne Zha evolved from an intimidating guardian deity into the rebellious, fire-wheeled warrior we know today.

    In Ne Zha 2, this “fighting spirit” against authority and hierarchy is taken even further, turning the story into a deeper philosophical exploration of morality, fate, self-worth and power.

    Good and evil – a Daoist perspective

    One of the most thought-provoking aspects of Ne Zha 2 is how it challenges the idea of good and evil.

    In Daoist philosophy, evil and good, often known as Yin and Yang, are not absolute, but are rather shifting, interconnected forces.

    Through its two protagonists: the “Demon Pill” (Ne Zha) and his noble dragon prince buddy, “Spirit Pearl” (Ao Bing), the film beautifully reflects this Daoist idea of balance and self-discovery.

    Their merging further blurs the line between hero and villain and brings to life a core concept from the 2,400-year-old text Dao De Jing (Tao Te Ching), written around 400 BC by Chinese philosopher Laozi (also called Lao Tzu).

    Laozi emphasises that righteousness and villainy aren’t always what they seem. “When the world knows beauty as beauty, there arises ugliness,” he says.

    Those we assume to be noble may turn out to be dark inside, while those deemed evil might be fighting for what is right.

    Ne Zha’s character in the film embodies this Daoist philosophy. Echoing the Xisheng Jing, The Scripture of Western Ascension, he declares, “My fate is up to me, not the Heaven.”

    He is the demon child who is willing to die fighting for his own destiny, proving that even the smallest, most underestimated individual can change the world.

    Beyond family bonds: rebirth of Confucianism

    In one scene, Ne Zha is struck by the “heart-piercing curse”, a brutal spell that covers his body in ten thousand thorns, causing unbearable pain and keeping him under control by targeting his heart. Ne Zha’s human mother, Lady Yin, clings to him as his thorns pierce her skin – yet she refuses to let go.

    It’s a moment of heartbreak, parental love and inner awakening. As his mother takes her final breath, in Ne Zha’s grief, his body shatters into a million pieces. And then, he is reborn.

    This is the film’s emotional climax, in which the so-called demon child awakens to “Rén” (benevolence), a core Confucian virtue.

    Confucianism teaches that true morality isn’t imposed by rules but arises naturally from within. Ne Zha doesn’t just seek revenge, he awakes to fight for those who have been oppressed, embracing his identity with unwavering resolve.

    But perhaps the most profound transformation comes from the dragon prince Ao Bing. As the last hope of his people, burdened by centuries of expectation, he finally makes a choice, not for legacy, not for his ancestors, but for himself.

    In this moment, his once-imposing father Dragon King releases his grip: “Your path is yours to forge.”

    The weight of tradition gives way to something new, reflecting a changing China where younger generations are defining their own paths.

    Wisdom of Legalism and Mohism

    Beyond Daoist and Confucian ideals, Ne Zha 2 also weaves in Legalist reform and Mohist resistance. These philosophies challenge rigid hierarchies (or in Ne Zha’s case, “divine order”) and advocate for collective justice.

    Across Ne Zha’s three major trials and the climactic celestial-demon war, a brutal truth emerges: those deemed unworthy – whether groundhogs, mystical beings, or ordinary humans – are sacrificed to uphold the elite’s rule.

    Take the small groundhogs. Dressed in patched clothes, surviving on pumpkin porridge. They’ve never harmed anyone. Yet, they are mercilessly crushed in the name of celestial balance.

    Then there’s Shiji Niangniang, or Lady Rock, a recluse who harms no one. She indulges only in her own beauty and speaks to her enchanted mirror. Yet the heavens brand her a demon, sealing her fate.

    A similar cruelty befalls the Dragon Clan and the people of Chentangguan, all caught in a war where they are mere pawns on a celestial chessboard.

    Even the last battle is not just Ne Zha’s fight, but a battlefield showing the Chinese spirit of collectivism. Dragons, shrimp soldiers, crab generals, octopus warriors, humans and millions of goblins stand side by side to rewrite destiny.

    The celestial-demon war itself plays out like a lesson in Sun Tzu’s Art of War, which states that “All warfare is based on deception.” War is about strategy, resilience and the unstoppable will to rise.

    Ne Zha carries the weight of Eastern cultural essence: Daoist balance, Confucian ethics, Mohist resistance, Legalist reform and the strategic wisdom of The Art of War. It is a truly Chinese story, igniting next year’s Oscar buzz and sparking a global awakening to Eastern culture.

    Just as Ne Zha is reborn in flames, so too does Chinese animation rise, not by breaking from its past, but by forging a bold future.

    Yanyan Hong does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Ne Zha 2: the ancient philosophies behind China’s record-breaking new animated film – https://theconversation.com/ne-zha-2-the-ancient-philosophies-behind-chinas-record-breaking-new-animated-film-249850

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI New Zealand: REMINDER: Planned overnight maintenance closures for State Highway 2, Remutaka Hill next week

    Source: New Zealand Transport Agency

    The first planned night closures of State Highway 2 Remutaka Hill for 2025 begin this coming Sunday.

    The route will be closed for planned maintenance for five nights, 9 pm to 4 am, from Sunday, 23 February to Friday morning 28 February. (Sunday to Thursday nights).

    Road crews will be carrying out resurfacing, sign replacement, clearing drainage, maintaining barriers, and doing line marking.

    Drivers must be ready for the closures and ensure they book and escorted crossing if they need to travel the route at night. The only alternative detours are via the Pahiatua Track or Saddle Road to the north – a much longer trip.

    Escorted crossings for drivers of light vehicles are available during closure nights but must be booked in advance and can be made here:
    Remutaka Hill Closure Escort Booking Form(external link)

    Because major resurfacing works are planned, there will only be one escorted crossing per direction each night. It means bookings are essential.

    Full closures mean maintenance works can be finished faster, and they are safer for road crews. Traffic volumes are also lighter at night, compared to during the day, so fewer drivers are affected.

    Important information for Remutaka Hill closures

    • Escorted crossings for light vehicles are available during closure nights but must be booked in advance. We always communicate well before planned closures and provide contact details so bookings can be made.
    • Bookings can be made online on the NZTA website – Remutaka Hill Closure Escort Booking Form(external link)
    • Bookings are essential – drivers who turn up without one risk being turned away. If you have a genuine emergency on the night, the hill manager will decide how best to help you.
    • The escorted crossings are for light vehicles only. To keep our contractors safe, heavy vehicles cannot be accommodated.
    • Full access is always available for emergency services.

    More information about planned maintenance closures for Remutaka Hill can be found here:

    State Highway 2, Remutaka Hill, planned night closures. February – June 2025:

    Nights Closed

    Start 9 pm

    Finish 4 am

    5

    23 February

    28 February

    1

    9 March

    10 March

    5

    6 April

    11 April

    1

    18 May

    19 May

    1

    15 June

    16 June

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Ara Tūhono – Pūhoi to Warkworth motorway wire barrier maintenance underway

    Source: New Zealand Transport Agency

    Work to ensure the continued safety of wire rope barriers on State Highway 1 Ara Tūhono – Pūhoi to Warkworth motorway got underway this week.

    Crews are carrying out maintenance on a 5km section of barriers located between the Johnstones Hill tunnels and the Watson Rd bridge crossing (the third bridge when heading north) in the southern section of the motorway.

    Work will take place overnight, between 6pm and 6am, Monday to Thursday, to minimise disruption. During the works, there will be a 60km/h temporary speed limit in place with a shoulder and single lane closure past the work zone. Work will be limited to a maximum of 1.5km, within the 5km section, at any one time.

    The works are expected to take up to 3 weeks to complete, subject to weather conditions.

    Please visit the NZTA Journey Planner website for up-to-date information on these works, including any changes due to weather.

    Journey Planner(external link)

    NZTA thanks everyone for their patience as we undertake these important works to ensure the continued safety of road users on the Ara Tūhono – Pūhoi to Warkworth motorway.

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: Former UK PM, Mr. Rishi Sunak and his family meets Prime Minister, Shri Narendra Modi

    Source: Government of India

    Posted On: 18 FEB 2025 10:49PM by PIB Delhi

    Former UK PM, Mr. Rishi Sunak and his family meets Prime Minister, Shri Narendra Modi today in New Delhi.

    Both dignitaries had a wonderful conversation on many subjects.

    Shri Modi said that Mr. Sunak is a great friend of India and is passionate about even stronger India-UK ties.

    The Prime Minister posted on X;

    “It was a delight to meet former UK PM, Mr. Rishi Sunak and his family! We had a wonderful conversation on many subjects.

    Mr. Sunak is a great friend of India and is passionate about even stronger India-UK ties.

    @RishiSunak @SmtSudhaMurty”

     

     

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    MJPS/ST

    (Release ID: 2104538) Visitor Counter : 9

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Engaging Younger Generation in Cultural Initiatives, Akashvani’s Rich & Diverse Mosaic of Hindustani & Carnatic Music ‘Har Kanthh Mein Bharat’ Series Concludes Successfully

    Source: Government of India

    Engaging Younger Generation in Cultural Initiatives, Akashvani’s Rich & Diverse Mosaic of Hindustani & Carnatic Music ‘Har Kanthh Mein Bharat’ Series Concludes Successfully

    Overwhelming Response from Listeners Reaffirms Timeless Appeal of Classical Music; Akashvani Promises More Such Enriching Content in the Future

    Posted On: 18 FEB 2025 10:39PM by PIB Delhi

    Akashvani, in collaboration with the Ministry of Culture, successfully concluded the 15-episode classical music series, Har Kanthh Mein Bharat. The series was launched on February 2, 2025, coinciding with the auspicious occasion of Basant Panchami. It was broadcast daily at 9:30 AM from 21 Akashvani stations nationwide and successfully culminated on February 16, 2025.

    ‘Har Kanthh Mein Bharat’ was meticulously curated to showcase the rich and diverse heritage of Indian classical music, featuring an array of vocal and instrumental performances by esteemed artists from across the country. The series resonated with listeners across the nation, enhancing the culturally immersive experience and bringing people close to India’s deep rooted musical heritage.

    Pundit Umakant Gundecha and Anant Gundecha performing Dhrupad – Akashvani Bhopal

    Collaboration empowering performing arts for future

    This collaborative effort of Akashvani and Ministry of Culture resonated well with audiences nationwide. Akashvani’s historical role in promoting cultural heritage has indeed touched new heights with such creative partnerships and opened new avenues for artistic expression. The vision behind the collaboration was underscoring the importance of preserving performing arts in the contemporary era and engaging the younger generation in cultural initiatives.

    A 15-day tribute to classical arts

    A cursory glance at the 15-day schedule gives deep insights into the rich mosaic of performing art and artistes from both, the Hindustani and Karnatic styles of Indian Classical Music across cities. To quote a few examples, Akashvani Jalandhar began the series with a Pakhawaj recital by Mohan Shyam Sharma, with Akashvani Pune debuting with a vocal rendition by Prajakta Marathe. Akashvani Chennai continued the rythm with a Veena recital by Rukmini Kannan. Heading East, Akashvani Cuttack presented a Sitar recital by Pt. Deba Prasad Chakraborty. Akashvani Thrissur also came alive to the melody of S. Padma’s Violin recital.

    During the course of the Series, the airwaves of Indore, Dharwad, Agartala, Lucknow and Guwahati reverberated to the notes of a Vocal recital by Sarang Fagre, a Flute recital by Rajkamal Nagaraj, a Veena recital by Geetha Ramanand, a Mridangam recital by H.S. Sudheendra, a Violin recital by TS Krishnamurthy, a Vocal recital by Shilpa Shashidhar and a Hawaiin Guitar recital by Prakash Sontakki. These were but a few examples.

    K.G. Ramakrishnan, presenting the Layavinyasam on the Mridangam at Akashvani Thiruvananthapuram

    Har Kanthh Mein Bharat’ inspires listeners

    Throughout its run, ‘Har Kanthh Mein Bharat’ received an overwhelming response from listeners, reaffirming the timeless appeal of Indian classical music. Akashvani and the Ministry of Culture remain committed to promoting India’s rich musical traditions and look forward to bringing more such enriching content to audiences in the future.

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    Dharmendra Tewari/ Shatrunjay Kumar

    (Release ID: 2104537) Visitor Counter : 31

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Union Minister of Jal Shakti Shri C R Patil inaugurates the second All-India State Water Ministers’ Conference

    Source: Government of India

    Union Minister of Jal Shakti Shri C R Patil inaugurates the second All-India State Water Ministers’ Conference

    This high-level dialogue stresses on the water security in our country

    The first day discussions of this conference revolves around the development and maintenance of water storage infrastructure

    The conference reaffirms its commitment to sustaining the Jal Jeevan Mission (JJM), with a particular emphasis on community-led operation

    Posted On: 18 FEB 2025 10:25PM by PIB Delhi

    The Second All-India State Water Ministers’ Conference, organized by the Ministry of Jal Shakti, Government of India, commenced today in Udaipur, Rajastan. Inaugurated by the Union  Minister of Jal Shakti  Shri C R Patil in  the presence of  Chief Minister of Rajasthan shri Bhajan Lal Sharma.The conference witnessed the participation of Chief Ministers of Odisha and Tripura, Deputy Chief Ministers of Himachal Pradesh, Chhattisgarh, and Karnataka, along with 30 Ministers and over 300 delegates. This high-level dialogue builds on the Water Vision @ 2047, first formulated at the 2023 Bhopal Conference  and further reviewed at the Secretaries’ Conference in Mahabalipuram in 2024.

    On the first day, deliberations revolved around strengthening water governance, enhancing storage infrastructure, improving irrigation systems, and increasing water-use efficiency. Discussions emphasized the need for Integrated Water Resources Management (IWRM) tailored to state-specific requirements, participatory governance at the grassroots level, and water budgeting to optimize demand and availability. The importance of leveraging data, technology, and innovation to improve efficiency and sustainability was also highlighted. Additionally, there was a strong push to scale up the ‘Jal Sanchay Jan Bhagidari’ initiative nationwide to promote community-driven water conservation efforts.

    A key focus area was the development and maintenance of water storage infrastructure, not only through new projects but also by prioritizing Extension, Renovation, and Modernization (ERM) of existing systems. Discussions underscored the importance of accelerating river interlinking projects through consensus-building, alongside the repair, renovation, and restoration of smaller water bodies to enhance water availability. Delegates also stressed the need for automated reservoir operations for better storage management, as well as comprehensive interventions to promote water conservation at every level.

    The conference reaffirmed its commitment to sustaining the Jal Jeevan Mission (JJM), with a particular emphasis on community-led operation and maintenance through Village Water & Sanitation Committees (VWSCs). Water quality testing remains a priority, ensuring safe drinking water reaches every household. Discussions also explored measures to achieve urban water security through the AMRUT Scheme and integrate greywater management under Swachh Bharat Mission 2.0. Special attention was given to vulnerable regions, ensuring that potable water reaches the most underserved communities.

    As discussions continue on Day Two, the conference is set to finalize concrete action plans that will drive India’s long-term water security strategy and contribute to the vision of Viksit Bharat @ 2047.

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    Dhanya Sanal K

    (Release ID: 2104533) Visitor Counter : 6

    MIL OSI Asia Pacific News –