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Category: Europe

  • MIL-OSI United Kingdom: The interconnected risks of flooding

    Source: United Kingdom – Government Statements

    Case study

    The interconnected risks of flooding

    This research was applied to give the government, flood risk management authorities and the insurance industry a better understanding of risk.

    Image credit: Environment Agency

    Transforming flood assessment at multiple scales through better statistical understanding of risk

    Rob Lamb 1, Jonathan Tawn 2, Caroline Keef 3, Ross Towe 2, Sarah Warren 3

    1 JBA Trust and Lancaster Environment Centre, Lancaster University, United Kingdom

    2 Lancaster University, United Kingdom

    3 JBA Consulting, United Kingdom

    Research led by Lancaster University, JBA and the JBA Trust – conducted over a decade – has supported the government, flood management authorities and the insurance industry to have a better understanding of flood risk from local to national scales.

    Historically, flood risk was often assessed in isolated terms. This meant the focus was on single locations or individual flood events, rather than accounting for how extreme weather patterns can co-occur across large areas. As a result, assessments could underestimate the broader, interconnected risks of flooding.

    The research team addressed this gap by developing methods that model flood events as multivariate extremes. This allowed for a more realistic estimation of the likelihood of concurrent flooding across multiple locations. The approach enabled flood risk to be assessed at a national scale, informing decisions in the UK’s National Security Risk Assessment (NSRA) and aiding global reinsurance companies in risk evaluations.

    Multivariate Extreme Value theory

    The research breakthroughs were founded on multivariate extreme value theory. The theory addressed the probability of multiple extreme events occurring simultaneously. Prior to this research, methods were limited in scope, handling only a few variables or locations. While they were mathematically convenient, they didn’t align with real-world flood data, often leading to inaccurate risk estimates.

    To overcome this, Lancaster University researchers developed a conditional probability model that could handle a large number of variables with varied dependencies. This model demonstrated that, contrary to traditional beliefs, the probability of seeing a 1 in 100-year flood somewhere in England and Wales annually is as high as 88%.This finding underscored the need to shift from isolated risk descriptions to a more holistic framework, and recognised that a seemingly rare event locally could be much more probable when considered across a broader scale.

    Impact

    The new approach proved influential during the UK’s 2016 National Flood Resilience Review (NFRR), which was prompted by severe flooding in 2013 to 2014 and 2015 to 2016.

    UK Chief Scientific Adviser (2016) said:

    There was pressure on Government to better understand the risks involved. … Your contribution to the review was very important. Ministers were determined to base the review’s conclusions and recommendations on sound evidence and analysis… Our advice had significant influence on both the evidence and the way in which it was communicated.

    The government’s conclusions were heavily based on the research insights, which reshaped the understanding of flood risk. It also highlighted the urgency of comprehensive preparedness.

    A direct outcome of the NFRR was the government’s £12.5 million investment in new mobile flood defences, quadrupling the number of units from 2015 levels. Furthermore, a commitment to an ongoing £2.3 billion capital investment plan was secured, aiming to protect 300,000 homes. This strategic shift—grounded in more realistic risk assessments—increased the resilience of both urban and rural communities against future floods.

    Beyond the UK, these advancements have been influential globally, especially for the insurance and reinsurance sectors.

    Working with Lancaster University and the Environment Agency, JBA further refined the methods to improve their scalability and efficiency, leading to the development of the Multivariate Event Modeller tool. This open-source tool allows for joint probability analysis, making it accessible for environmental scientists and risk managers who need to analyse complex, interconnected flood events.

    The research has extended into ocean wave analysis, contributing to a better understanding of coastal extremes that compound flood risks, especially in coastal regions.

    These tools and insights have led to more accurate, data-driven assessments that can guide infrastructure planning, inform policy, and support sustainable urban development.

    Resources

    BBC News Article. (2016). Hundreds of key sites in England at Risk of Floods, dated 8th September 2016 corroborating £12.5 million investment means four times as many temporary flood barriers than in 2015. Available at: https://www.bbc.co.uk/news/science-environment-37306094 (Accessed: 24 March 2025).

    Environment Agency. (2017). Planning for the risk of widespread flooding: Project Summary SC140002/S. Available at https://assets.publishing.service.gov.uk (Accessed: 24 March 2025).

    Grainger, J., Sykulski, A., Jonathan, P., & Ewans, K. (2021). Estimating the parameters of ocean wave spectra. Ocean Engineering, 229, Article 108934. Available at: doi.org/10.1016/j.oceaneng.2021.108934 (Accessed: 24 March 2025).

    Grainger, J., Sykulski, A., Ewans, K., Hansen, H. F., Jonathan, P. (2023). A multivariate pseudo-likelihood approach to estimating directional ocean wave models, Journal of the Royal Statistical Society Series C: Applied Statistics, Volume 72, Issue 3. Available at: doi.org/10.1093/jrsssc/qlad006 (Accessed: 24 March 2025).

    Heffernan, J. E. and Tawn, J. A. (2004). A conditional approach to modelling multivariate extreme values (with discussion), J. Roy. Statist. Soc., B, 66, 497-547. Available at: doi.org/10.1111/j.1467-9868.2004.02050.x (Accessed: 24 March 2025).

    HM Government. (2016). National Flood Resilience Review (NFRR). Available at: https://assets.publishing.service.gov.uk/ (Accessed: 24 March 2025).

    JBA Trust. (2022). Improving statistical models of large scale flood events. Available at: https://www.jbatrust.org/ (Accessed: 24 March 2025).

    Keef, C., Tawn, J. A. and Lamb, R. (2013). Estimating the probability of widespread flood events. Environmetrics, 24, 13-21. Available at: doi.org/10.1002/env.2190 (Accessed: 24 March 2025).

    Lamb, R., Keef, C., Tawn, J. A., Laeger, S., Meadowcroft, I., Surendran, S., Dunning, P. and Batstone, C. (2010). A new method to assess the risk of local and widespread flooding on rivers and coasts. Journal of Flood Risk Management, 3, 323-336. Available at: doi.org/10.1111/j.1753-318X.2010.01081.x (Accessed: 24 March 2025).

    Multivariate Event Modeller – Github. Available at: https://github.com/jbaconsulting/Multivariate-Event-Modeller (Accessed: 24 March 2025).

    REF 2021 Impact Case Study: A step-change in the understanding and quantification of risk to improve resilience to flooding, Lancaster University, Unit of Assessment: 10, Mathematical Sciences. Available at: https://results2021.ref.ac.uk/impact/ (Accessed: 24 March 2025).

    REF 2021 Impact Case Study: Transforming Government assessments of flood risk and resilience through improved understanding of uncertainties in flood risk modelling Lancaster University, Unit of Assessment: 7, Earth Systems and Environmental Sciences. Available at: https://results2021.ref.ac.uk/impact/ (Accessed: 24 March 2025).

    Tawn, J. A., Shooter, R., Towe, R. and Lamb, R. (2018). Modelling spatial extreme events with environmental applications. Spatial Statistics, 28, 39-58. Available at: doi.org/10.1016/j.spasta.2018.04.007 (Accessed: 24 March 2025).

    Towe, R., Tawn, J. A. and Lamb, R. (2018). Why extreme floods are more common than you might think? Royal Statistical Society Journal, Significance, Vol. 15, No. 6, 16-21. Available at: doi.org/10.1111/j.1740-9713.2018.01209.x (Accessed: 24 March 2025).

    UK Parliament Statement. Written Statement UIN HLWS139 on the National Flood Resilience Review made by Lord Gardiner, 8th September 2016. Corroborates £12.5 million of spending on new temporary flood defences and a £2.3 billion investment to better protect 300,000 homes.

    Funder 

    • JBA Trust
    • Natural Environment Research Council (NERC)
    • Environment Agency

    Collaborators  

    • Lancaster University
    • JBA Trust
    • JBA Consulting
    • Environment Agency
    • Shell Research

    Research period  

    • 2004 to 2023

    Impact period  

    • 2008 to 2017

    Impact country  

    • UK

    • Globally

    Contributing towards the areas of research interest

    • 1 – Understanding future flood and coastal erosion risk

    Updates to this page

    Published 4 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Climate change and peak river flows

    Source: United Kingdom – Government Statements

    Case study

    Climate change and peak river flows

    Research provided vital information for planners, developers, and flood risk management authorities to prepare for future flooding scenarios. 

    Close up of a depth gauge. Credit: Environment Agency.

    Climate change impacts on peak river flows

    Alison L Kay 1, Ali Rudd 1, Matthew Fry 1, Gemma Nash 2 and Stuart Allen 3

    1 UK Centre for Ecology & Hydrology, Wallingford, United Kingdom

    2 UK Centre for Ecology & Hydrology, Edinburgh, United Kingdom

    3 Environment Agency, United Kingdom

    The Climate change and fluvial flood peaks research investigated how climate change affects fluvial flood peaks. The evidence is used to support sustainable development and investment in flood and coastal risk mitigation actions. The research spanned from 2018 to 2021 and was published in 2023.

    The research builds on past projects. In 2010, the early uplifts were assessed in the Regionalised impacts of climate change on flood flows, which used selected local hydrological models within a sensitivity framework. The hazard was regionalised using UK climate projections (UKCP09) in Practicalities for implementing regionalised allowances for climate change on flood flows. However, in this earlier research, the information on the impact of flooding relied on old climate projections and was based on modelling a limited number of locations.

    The release of updated UK climate projections (UKCP18) paired with new, national scale modelling methods, offered an opportunity to improve the information available for decision-making. The team combined the sensitivity framework with a national-scale hydrological model (Grid-to-Grid) and the UKCP18 probabilistic projections in the 2023 publication. This enabled a better understanding of potential changes to flood peaks across every 1km square of the river network in England, Wales and Scotland. In doing so, it helped to address the limitation that previous uplifts were derived from a limited number of specific catchment models. By using a consistent approach, the research team discovered varying sensitivities among catchments. This discovery helped predict how different regions would respond to climate-induced rainfall changes.

    Impact

    The research results had significant implications for flood risk management. The data produced provided more nuanced understanding of how flood peaks may change. This enabled the Environment Agency to update guidance for estimating future flood risks aimed at building developers and flood risk management authorities.

    The Environment Agency’s Director of Strategy and Adaptation (2021) said: “[w]e now have much more detail than ever before on how river flows will change at a catchment level, allowing us to address future flood and coastal risks more confidently.”

    The findings were integrated into national guidance for flood risk assessments. This ensured that developers accounted for climate change in their planning processes. Between April 2023 and March 2024, over 96% of planning decisions adhered to flood risk advice based on these updated guidelines, which demonstrated effective uptake of the research outputs.

    The Flood and Coastal Erosion Risk Management report: 1 April 2023 to 31 March 2024 illustrated how the guidance helped avoid potentially unsafe developments. In particular, 60,000 homes were protected through adherence to the updated flood risk advice.

    The Environment Agency’s Chief Scientist Group’s Annual Report 2022 highlighted the successful integration of research findings into operational practices.

    The insights gained from this research provided a crucial foundation for future planning and flood risk management. For those involved in planning and flood risk management, it is vital to consult the updated guidance for conducting flood risk assessments.

    Resources

    Department of Environment, Food and Rural Affairs (Defra). (2025). Climate change allowances for peak river flow. Available at: https://environment.data.gov.uk/hydrology/climate-change-allowances/river-flow. (Accessed: 24 March 2025).

    Environment Agency. (2016). Flood risk assessments: climate change allowances. Available at: https://www.gov.uk/guidance/flood-risk-assessments-climate-change-allowances (Accessed: 24 March 2025).

    Environment Agency. (2020). Flood and coastal risk projects, schemes and strategies: climate change allowances. Available at: https://www.gov.uk/guidance/flood-and-coastal-risk-projects-schemes-and-strategies-climate-change-allowances (Accessed: 24 March 2025).

    Environment Agency. (2021). Practicalities for implementing regionalised allowances for climate change on flood flows. Available at: https://www.gov.uk/flood-and-coastal-erosion-risk-management-research-reports/practicalities-for-implementing-regionalised-allowances-for-climate-change-on-flood-flows (Accessed: 24 March 2025).

    Environment Agency. (2021). Regionalised impacts of climate change on flood flows. Available at: https://www.gov.uk/flood-and-coastal-erosion-risk-management-research-reports/regionalised-impacts-of-climate-change-on-flood-flows (Accessed: 24 March 2025).

    Environment Agency. (2021). Managing flood risk in the face of a changing climate – Creating a better place blog. Available at: https://environmentagency.blog.gov.uk/2021/07/20/managing-flood-risk-in-the-face-of-a-changing-climate/ (Accessed: 24 March 2024).

    Environment Agency. (2023). Climate change and fluvial flood peaks. Available at: https://www.gov.uk/flood-and-coastal-erosion-risk-management-research-reports/climate-change-and-fluvial-flood-peaks (Accessed 24 March 2025).

    Environment Agency. (2023). Chief Scientist’s annual review 2022. Available at: https://assets.publishing.service.gov.uk/media/63ff3f57d3bf7f25f76ffc9d/Environment_Agency_Chief_Scientist_s_annual_review_2022.pdf (Accessed: 24 March 2025).

    Environment Agency. (2024). Flood and coastal erosion risk management report: 1 April 2023 to 31 March 2024. Available at: https://www.gov.uk/government/publications/flood-and-coastal-risk-management-national-report/flood-and-coastal-erosion-risk-management-report-1-april-2023-to-31-march-2024 (Accessed: 24 March 2025).

    Kay, A.L., Rudd, A.C., Fry, M., Nash, G. and Allen, S. (2021). Climate change impacts on peak river flows: Combining national-scale hydrological modelling and probabilistic projections. Climate Risk Management. Vol 31. Available at: doi.org/10.1016/j.crm.2020.100263 (Accessed: 24 March 2025).

    Met Office. (2021). Met Office UKCP18 case study. Available at: https://www.metoffice.gov.uk/binaries/content/assets/metofficegovuk/pdf/research/ukcp/ceh_ukcp_case_study.pdf (Accessed: 24 March 2025).

    Ministry of Housing, Communities and Local Government. (2014). Guidance: Flood risk and coastal change. Available at: https://www.gov.uk/guidance/flood-risk-and-coastal-change (Accessed: 24 March 2025).

    Reynard, N. S., Kay, A. L., Anderson, M., Donovan, B., & Duckworth, C. (2017). The evolution of climate change guidance for fluvial flood risk management in England. Progress in Physical Geography, 41(2), 222-237. Available at: doi.org/10.1177/0309133317702566 (Accessed: 24 March 2025).

    UK Centre for Ecology & Hydrology (UKCEH). (2025). Climate change impacts on river flood peaks. Available at: https://cc-flood-impacts.ceh.ac.uk/ (Accessed: 24 March 2025).

    Wasko, C., Westra, S., Nathan, R., Orr, H.G., Villarini, G., Villalobos Herrera, R. and Fowler, H.J. (2021). Incorporating climate change in flood estimation guidance – Philosophical Transactions of the Royal Society A: Mathematical, Physical and Engineering Sciences. Phil. Trans. R. Soc. A. 379: 20190548. Available at: doi.org/10.1098/rsta.2019.0548 (Accessed: 24 March 2025).

    Funder

    The research project was funded by the Flood and Coastal Erosion Risk Management (FCERM) research and development programme.

    Collaborators

    • Environment Agency
    • UK Centre for Ecology and Hydrology
    • Natural Resources Wales
    • Scottish Environmental Protection Agency

    Research period

    • 2018 to 2021

    Impact period

    • 2021 to present

    Impact country

    • England
    • Scotland
    • Wales

    Contributing to the areas of research interest

    • 1 – Understanding future flood and coastal erosion risk

    Updates to this page

    Published 4 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: The Levee Safety Partnership

    Source: United Kingdom – Government Statements

    Case study

    The Levee Safety Partnership

    The Levee Safety Partnership brings together experts from 3 countries to focus on emerging challenges and opportunities in flood defence infrastructure assets.

    Levee safety Partnership, York 2023. Image credit: Environment Agency.

    Levee Safety Partnership

    Environment Agency (United Kingdom), Rijkswaterstaat (the Netherlands) and the United States Army Corp of Engineers (United States of America)

    The Levee Safety Partnership (LSP) is a collaboration uniting engineers and researchers from the Netherlands, the USA, and the UK. It was established after Hurricane Katrina in 2004, when the United States Army Corps of Engineers (USACE) sought expertise from Rijkswaterstaat in the Netherlands to enhance levee safety risk management. In 2014, the Environment Agency joined the partnership.

    The Environment Agency has Memorandums of Understanding (MoU) in place with both organisations, underpinned by mutual agreement. The purpose of the MoUs is the sharing of common technical interests, and to cooperate in the development of joint activities in the field of Integrated Water Resources Management. To support this, participants exchange scientific and technical information, participate in visits and staff exchanges, run a community of practice, seminars and workshops and share best practices and lessons learned.

    Impact

    In 2024 and 2025, the research focused on surface protection specifically improving resilience and biodiversity in both vegetation and soils. This led to a collated evidence base to support improvements in seed mix, where further trials are intended before adapting current practice.

    Across 2023 and 2024 workshops helped to improve understanding on backwards erosion piping. Engagement with the International Handbook on Emergency Management for Flood Defences has led to further research to improve the evidence base behind options for emergency response to asset failure.

    The Levee Safety Partnership has raised awareness about levee safety topics, techniques, and technologies. This includes the development of the International Levee Handbook (ILH). Launched in 2013, the handbook offers international good practice on levees, based on knowledge and experience from 6 countries. It provides a guide to the evaluation, design, implementation, maintenance and management of levees and is relevant to the types of flood embankment managed by the Environment Agency, private owners and other operating authorities in the UK.

    Alongside research and development, the partnership has also supported exchanging best practice. For example, in 2017 at a meeting in St. Louis, the members evaluated a levee using methodologies from the Environment Agency, Rijkswaterstaat and the USACE. This cross-comparison evaluation led to valuable lessons and the adoption of an “American Style” assessment approach in the Netherlands.

    Staff exchanges led by the partnership have helped build capacity and develop the skills and knowledge of professionals. In 2024, a USACE member relocated to England for several months, supporting a review of asset resilience and assessment of risk. This person presented the Levee Safety Tool (LST2.0) to the Environment Agency, demonstrating how it can enhance the Environment Agency’s RAFT+ tool. Later in 2024, a member of the Environment Agency relocated to the USA for a year to focus on potential improvements to Environment Agency standards and share best practice.

    The partnership also runs an early career network. The network supports the development of younger engineers and scientists that are members of the partnership, typically within the first 5 to 10 years of their careers. It has created useful resources including country placemats describing context, governance and assessment methodology.

    The impact extends beyond the partnership. The Levee Safety Partnership regularly updates and participates in the annual International Commission on Large Dams (ICOLD) which is formed of over 100 countries and has a subcommittee on levees. Various spin-off groups have also emerged from the LSP, focusing on themes such as coastal zone management and incident management. The levee incident group is a parallel group that exists under the same Memorandum of Understanding, focused  on levee safety incident response.

    Impacts have also included a Tolerable Risk Workshop (2008 and 2020) and a ‘one levee, three methods’ assessment review, where each nation applied the other nations approach to their levee and a SWOT analysis led to considered outcomes. A similar review on the approach to climate change (resilience), as well as country governance, strategies and methodologies has helped nations to consider options. The success of the group has led to further groups of a similar nature in coastal zone management, storm surge barriers, and incident management.

    Resources

    CIRIA. (2013). The International Levee Handbook. Available at: The International Levee Handbook (Accessed: 24 March 2025).

    Rijkswaterstaat. (2024). International Handbook on Emergency Management Flood Defences. Available at: International Handbook on Emergency Management for Flood Defences (Accessed: 24 March 2025).

    Rijkswaterstaat. (2025). International Partnerships. Available at: https://www.rijkswaterstaat.nl/en/collaboration/international-partnerships/ (Accessed: 24 March 2025).

    United States Army Corp of Engineers. Levee Safety Program. Available at: Levee Safety Program (Accessed: 24 March 2025).

    Funder

    The Environment Agency research components of the LSP are  funded by the Flood and Coastal Erosion Risk Management (FCERM) research and development programme.

    Collaborators

    • Environment Agency

    • United States Army Corp of Engineers (USACE)

    • Rijkswaterstaat

    Research period 

    • Ongoing

    Impact period 

    • Ongoing

    Impact country 

    • United Kingdom

    • United States of America

    • Netherlands

    Contributing to areas of research interest

    • 5 – Asset management

    Updates to this page

    Published 4 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Social inequality and flood risk

    Source: United Kingdom – Government Statements

    Case study

    Social inequality and flood risk

    Flooding is a growing environmental threat across the UK, but not all communities experience its impacts equally.

    View of damage following a flood. Image credit: Environment Agency.

    Flood risk, inequalities and justice

    Gordon Walker 1 and Peter Bailey 2

    1 Lancaster Environment Centre, Lancaster University, United Kingdom

    2 Environment Agency, United Kingdom

    The Environment Agency commissioned research between 2006 and 2022 that explored the social distribution of environmental risks across England. The research found a link between social deprivation and flood vulnerability. The Environment Agency has used these findings to update its evidence base on the social distribution of flood risk and decision-making rules for investment.

    Impact

    Taken together, the research on social inequality and flood risk has influenced academic and policy understandings of not only inequalities in the distribution of flood risk, but also clear differentials in the vulnerabilities of households when flooding is experienced.

    The first report Addressing environmental inequalities: flood risk led by Gordon Walker was published in 2006. This analysis demonstrated a clear inequality in that people living in deprived communities – as measured by the Index of Multiple Deprivation – were more likely to be at risk of flooding. The pattern of risk from coastal flooding was particularly skewed towards deprived communities, with river flooding more evenly distributed (Figure 1).

    Figure 1: Total households at different levels of risk from river and sea flooding by deprivation decile within coastal areas. Credit: Environment Agency.

    These findings shaped flood policies. In 2010 the Environment Agency’s corporate indicators for flooding included an outcome measure for flood schemes of homes better protected in deprived areas (Environment Agency, 2015). Then in 2011, the Government introduced a partnership funding policy for flooding. This policy included an incentive that gave a higher rate of funding for schemes protecting homes in deprived areas from flooding (Defra, 2011).

    Published in 2011, the article Flood risk, vulnerability and environmental justice: evidence and evaluation of inequality in a UK context built upon the 2006 research. It explored the related issues of flood vulnerability and flood justice. The article has been widely cited, providing a foundation for similar analyses that have since been undertaken in the US and various European countries. It was also one of the first articles in the UK and internationally to bring flooding within an environmental justice framing.

    In 2020, the Environment Agency updated the original 2006 analysis. It used the updated Index of Multiple Deprivation as well as the latest version of the National Flood Risk Assessment (NaFRA). This version of NaFRA addressed some of the shortcomings of the 2006 analysis such as including the benefit of flood defence schemes in the flood risk exposure data. The report was published in 2022 in Social deprivation and the likelihood of flooding. The updated analysis still found evidence of flood inequalities in England.

    The findings included:

    • the size of the inequality was smaller than the 2006 study, because national flood data included flood defences and many schemes were built since 2006
    • deprived coastal communities still experienced significant flood inequalities
    • flood inequalities found within rural areas were greater than those in urban areas
    • the analysis suggested that recent investment has been relatively successful in reducing flood risk exposure inequality for the 20% most deprived areas in England

    The updated analysis and the 2022 report have been used by the National Audit Office in Managing flood risk: Report by the Comptroller and Auditor General.

    Resources 

    Department for Environment, Food and Rural Affairs (Defra). (2011). Flood and Coastal Resilience Partnership Funding. London: Defra. Available at: https://assets.publishing.service.gov.uk/media/5a7c89f1ed915d48c2410708/pb13896-flood-coastal-resilience-policy.pdf (Accessed: 24 March 2025).

    Environment Agency. (2006). Addressing Environmental Inequalities: Flood Risk. Science Report: SC020061/SR1. Available at: https://assets.publishing.service.gov.uk/media/5a7c365ced915d76e2ebbd58/scho0905bjok-e-e.pdf (Accessed: 24 March 2025).

    Environment Agency. (2015). Flood and coastal erosion risk management Outcome Measures. Progress made towards achieving the Flood And Coastal Erosion Risk Management Outcome Measures target: July 2014 to September 2014. Available at: https://www.gov.uk/government/statistics/flood-and-coastal-erosion-risk-management-outcome-measures (Accessed: 24 March 2025).

    Environment Agency. (2022). Social deprivation and the likelihood of flooding. Available at: https://www.gov.uk/government/publications/social-deprivation-and-the-likelihood-of-flooding (Accessed: 24 March 2025).

    Environment Agency. (2024). National assessment of flood and coastal erosion risk in England 2024. Available at: https://www.gov.uk/government/publications/national-assessment-of-flood-and-coastal-erosion-risk-in-england-2024/national-assessment-of-flood-and-coastal-erosion-risk-in-england-2024 (Accessed: 24 March 2025).

    Ministry of Housing and Local Government. (2020). English indices of deprivation. Available at: https://www.gov.uk/government/collections/english-indices-of-deprivation (Accessed: 24 March 2025).

    National Audit Office (NAO). (2020). Managing flood risk – NAO report. Available at: https://www.nao.org.uk/reports/managing-flood-risk/?nab=2 – downloads (Accessed: 24 March 2025).

    Walker, G. and Burningham, K. (2011). Flood risk, vulnerability and environmental justice: Evidence and evaluation of inequality in a UK context. Critical Social Policy Volume 31, Issue 2, pp. 216–240. Available at: doi.org/10.1177/0261018310396149 (Accessed: 24 March 2025).

    Funder 

    • Environment Agency

    Research period  

    • 2006 to 2022

    Impact period  

    • 2006 to present

    Impact country  

    • UK

    Contributing to the areas of research interest

    • 8 – Integrated outcomes

    Updates to this page

    Published 4 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: FCERM research outcomes and impact

    Source: United Kingdom – Executive Government & Departments

    News story

    FCERM research outcomes and impact

    Research investment is making an impact in managing flooding and coastal change.

    On 4 April 2025, the Flood and Coastal Erosion Risk Management (FCERM) research and development programme published a collection of case studies. They highlight how research has been used to improve flood and coastal erosion risk management by connecting people who have operational problems with researchers who have solutions.

    The case studies cover diverse topics – from modelling with advanced technologies like digital twins, to using natural flood management measures, to applying people’s local flood knowledge and improving how we work with communities.

    The FCERM research and development programme is a collaborative partnership between the Environment Agency, Defra, Welsh Government and Natural Resources Wales. We work with partners from academia, industry and across government.

    Updates to this page

    Published 4 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI Europe: Remarks by President António Costa at the inauguration of the International Climate Forum

    Source: Council of the European Union

    Speaking at the opening ceremony of the Samarkand international climate forum, following the EU-Central Asia summit, European Council President António Costa emphasised the urgent need for global cooperation to tackle the climate crisis, highlighting the growing challenges faced by both Europe and Central Asia. He also reaffirmed the EU’s commitment a strategic partnership with Central Asia that prioritizes climate action and shared prosperity.

    MIL OSI Europe News –

  • MIL-OSI Europe: Joint Declaration following the first European Union-Central Asia summit

    Source: Council of the European Union

    European Council President António Costa, European Commission President Ursula von der Leyen and the leaders of the five Central Asian countries met in Samarkand for the first summit between the EU and Central Asia. The leaders issued a joint declaration, elevating the relations between the two regions to a strategic partnership.

    MIL OSI Europe News –

  • MIL-OSI China: Trump advised not to call Putin until Moscow agrees to full ceasefire: NBC

    Source: China State Council Information Office

    U.S. President Donald Trump’s inner circle has advised him not to call Russian President Vladimir Putin until Moscow agrees to a full ceasefire with Ukraine, NBC News reported Thursday.

    The report, citing two administration officials, said no call had been scheduled as of Thursday afternoon between Trump and Putin, while the two officials cautioned that Trump could decide he wants to talk to Putin suddenly.

    The officials said Trump has been advised that a phone call was not a good idea unless Putin has agreed to a full ceasefire in the conflict with Ukraine, according to NBC News.

    Trump told NBC News on Sunday that he planned to talk to Putin this week. During their phone conversation on March 18, Trump and Putin agreed that peace in Ukraine “will begin with an energy and infrastructure ceasefire.”

    MIL OSI China News –

  • MIL-OSI United Kingdom: Change of His Majesty’s Ambassador to Côte d’Ivoire: John Marshall

    Source: United Kingdom – Executive Government & Departments 3

    Press release

    Change of His Majesty’s Ambassador to Côte d’Ivoire: John Marshall

    Mr John Marshall has been appointed His Majesty’s Ambassador to the Republic of Côte d’Ivoire and non-resident Ambassador to the Republic of Togo.

    His Majesty’s Ambassador to Côte d’Ivoire (and non-resident Ambassador to Togo), John Marshall

    Mr John Marshall has been appointed His Majesty’s Ambassador to the Republic of Côte d’Ivoire and non-resident Ambassador to the Republic of Togo in succession to Ms Catherine Brooker who will be transferring to another Diplomatic Service appointment. Mr Marshall will take up his appointment during June 2025.

    Curriculum vitae

    Full name: John Marshall

    Year Role
    2023 to present Guinea, His Majesty’s Ambassador
    2021 to 2022 Brussels, Temporary Assignment
    2016 to 2021 Luxembourg, Her Majesty’s Ambassador
    2011 to 2015 Dakar, Her Majesty’s Ambassador to Senegal and Her Majesty’s non-resident Ambassador to Guinea-Bissau and Cabo Verde
    2007 to 2011 Addis Ababa, Deputy Head of Mission
    2004 to 2006 FCO, Deputy Head, Sustainable Development and Commonwealth Group
    2003 to 2004 FCO, Head, Caribbean Team
    2000 to 2003 Kuala Lumpur, Head of Political, Economic and Public Diplomacy
    1997 to 1999 FCO, Head of Political Section, United Nations Department
    1995 to 1997 FCO, Head of India, Nepal and Bhutan Section, South Asian Department
    1992 to 1995 Tokyo, 2nd Secretary Economic/Political
    1988 Joined Foreign and Commonwealth Office

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Contact the FCDO Communication Team via email (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

    Updates to this page

    Published 4 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Science Week PhysMech

    Translartion. Region: Russians Fedetion –

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    From March 31 to April 4, 2025, the All-Russian conference “PhysMech Science Week” was held at the Physics and Mechanical Institute of Peter the Great St. Petersburg Polytechnic University.

    “PhysMech Science Week” is a national scientific conference for students, postgraduates and young researchers, organized by the Institute of Physics and Mechanics of SPbPU. The scientific areas include experimental and computational physics, theoretical and applied mechanics, biomechanics, applied mathematics, supercomputer computing, engineering of materials and structures.

    The conference program included nine sections, three of which were held at the Higher School of Applied Mathematics and Computational Physics: “Biomechanics,” “Applied Mathematics,” and “Hydroaerodynamics, Combustion, and Heat Transfer.”

    “The PhysMech Science Week continues the long-standing tradition of the university-wide Science Week. For the fourth year now, at the conference organized by the Physics and Mechanics Institute, students and postgraduates present reports on the results of their research to their classmates and teachers. Guests from other universities and scientific organizations — the university’s partners — also participate in the sessions. I would like to express my gratitude to the organizers of the sections, the volunteers who provide oral and poster sessions, and especially to the scientific editor of the conference materials indexed in the Russian Science Citation Index (RSCI), Professor Evgeny Smirnov,” said Nikolay Ivanov, Acting Director of the PhysMech Institute. “The PhysMech system laid down by A. F. Ioffe implies the active participation of senior students in scientific research. The high level of scientific work performed by students and postgraduates was confirmed by the 2025 conference. I would like to especially note those who took part in the Science Week for the first time. Without a doubt, PhysMech graduates will present reports at scientific conferences of the highest level in the future, but the first student presentation will be remembered most of all – here, within the walls of their native university.”

    The meeting of the section “Hydroaerodynamics, combustion and heat transfer” was held in the conference hall of the Resource Center for International Activities of SPbPU. At the oral session, 5 reports selected by the program committee were presented. At the poster session, 19 posters prepared by students and 23 posters from graduate students and young scientists were presented within the framework of two parallel poster subsections. At the oral subsection, Professor Evgeny Smirnov made a report “The Department of Hydroaerodynamics of the Polytechnic University is 90 years old!”, in which he spoke about the history of the department and the key stages of development.

    More than 130 people took part in the work of the section, of which over 30 employees represented SPbPU, Ioffe Physical-Technical Institute, JSC UEC-Klimov, JSC Engineering Center Kronstadt, Soft-Impact LLC, LS-Technologies LLC. More than 100 students and postgraduates represented SPbPU, SPbGMTU, Mining University, BSTU Voenmekh. The section meeting ended with the awarding of diplomas and memorable gifts to all authors of oral reports, the best poster reports based on the results of the expert commission, as well as all students, teachers and guests present at the meeting based on the results of secret voting.

    The program of the section “Applied Mathematics”, which took place in the House of Scientists in Lesnoy, included 8 oral and 18 poster presentations by students, postgraduates and young scientists from SPbPU. The reports were prepared based on the materials of the works carried out under the supervision of teachers and researchers of the section “Applied Mathematics” of the Higher School of Psychology and Mathematics. The topics are very broad – research in the field of bioinformatics, development and application of numerical methods and algorithms, machine learning algorithms and models, solving optimization problems, etc.

    The Biomechanics section heard 11 oral reports on experimental and numerical studies of problems in the field of biohydrodynamics. They were presented by students of the Higher School of Theoretical Mechanics and Mathematical Physics (training program in Applied Mathematics and Physics), the Higher School of Theoretical Mechanics and Mathematical Physics, and the Advanced Engineering School Digital Engineering. Following the meeting, all speakers were awarded certificates of participation.

    The work of all three sections, organized by the staff of the Higher School of Psychology and Mathematics, aroused great interest and attracted representatives of other universities and scientific organizations. The reports were accompanied by numerous questions, meaningful discussions and debates.

    It should be noted that the number of participants and the quality of reports presented at the sections of the conference “PhysMech Science Week” are growing year after year. This contributes to a wider involvement of students in research work as part of scientific groups while still in their undergraduate studies, as well as to an increase in publication activity, and an increase in the authority of PhysMech among applicants, students, researchers and teaching staff.

    Authors of papers accepted for presentation at the conference must submit extended abstracts (in the form of a short article of 2-3 pages) to those responsible for the sections by April 14, which will be published and posted in the Russian Science Citation Index.

    Program and collection of abstracts of reports of the All-Russian conference “Week of Science PhysMech” published here.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: New facets of cooperation between Slavic universities

    Translartion. Region: Russians Fedetion –

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    The youth choir “Polyhymnia” gave a big concert at the Belarusian-Russian University. On April 2, the countries celebrated a national holiday – the Day of Unity of the Peoples of Belarus and Russia. The concert, which the polytechnicians brought as a gift to the students of BRU, was timed to coincide with this date. The SPbPU choir under the direction of Anna Podgornova performed the best songs of its repertoire.

    “The holiday is special for the Belarusian-Russian University, because we are uniting education, science, and now culture,” said Mikhail Lustenkov, Rector of the Belarusian-Russian University. “We cooperate with the Polytechnic University in all areas; it is our strategic partner and curator of the development program. On the Day of Unity of the Peoples of Belarus and Russia, we receive a gorgeous gift from the Rector of SPbPU Andrei Rudskoy – a concert of the Youth Choir “Polyhymnia”. Not every university can boast of a musical group; sports detail is increasingly developed in universities. This is a great achievement. What is one voice? Solo! And when there are many voices, this is unity.”

    The visit of the creative delegation of Polytechnic students to the Belarusian-Russian University in Mogilev took place within the framework of the development of strategic partnership of Slavic universities. The Polytechnic students were given an excursion to the modern laboratories of BRU, created with the support of Polytechnic. The students also visited the St. Nicholas Convent and the Buinichskoe Pole memorial complex.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI United Kingdom: New Chair appointed for Creative Scotland review

    Source: Scottish Government

    Evidence-led review to report by November.

    A new Chair has been appointed to lead the independent review of Creative Scotland, Culture Secretary Angus Robertson has announced.

    Angela Leitch CBE will replace Dame Sue Bruce, who withdrew from the role on health grounds in March.

    In a letter to the Constitution, Europe, External Affairs & Culture Committee, Mr Robertson said Ms Leitch would be supported in the role by Stuart Currie as Vice Chair.

    The Culture Secretary also confirmed that the timeframe to publish recommendations would be extended until November, to allow the new Review team sufficient time to gather and consider evidence from the sector.

    Mr Robertson said:

    “I am delighted to report that Angela Leitch CBE has agreed to lead the independent review, supported by Stuart Currie as Vice Chair. Both Angela and Stuart bring a wealth of local government and public sector experience.

    “With the 2025-26 Scottish Budget including a record £34 million uplift for culture, including an additional £20 million for Creative Scotland’s multi-year funding programme, the review will consider Creative Scotland’s functions and remit to maximise the impact of this increase and ensure it can meet the culture sector’s needs.

    “In the meantime, I welcome the fact that our survey seeking the culture sector’s views on how culture and the arts are currently supported and areas for change, received more than 750 responses from individuals and organisations across Scotland. This feedback, which will be published later this Spring, will no doubt inform the independent Creative Scotland review.”

    Ms Leitch said:

    “Culture and the arts provide us with a sense of belonging, preserving our history and traditions, and promoting an understanding of different perspectives. It’s well recognised that the sector and the people who work within it contribute significantly to Scotland’s society, our communities, and the economy.

    “It’s also recognised that the context cultural organisations and artists are now operating in has changed considerably since Creative Scotland was established in 2010. I welcome the opportunity to work with colleagues in Creative Scotland and across the sector to review its remit and functions with a view to ensuring it continues to be relevant today.”

    Background:

    Angela Leitch has more than thirty years’ experience in local government, having worked in West Lothian and the City of Edinburgh councils before becoming Chief Executive firstly in Clackmannanshire Council and then East Lothian Council. In 2019 Angela was appointed as the Chief Executive of the newly formed Public Health Scotland, which amongst other responsibilities, played a crucial role in producing data, evidence and advice throughout the Covid-19 pandemic. She stepped down from this role in April 2023.

    Angela was Convenor of the Board of the Scottish Local Authority Remuneration Committee which presented its report on changes to the payments to elected members, in December 2023, to the Convention of Scottish Local Authorities (COSLA) and Scottish Government Ministers.

    She is a member of the Accounts Committee and the Scottish Police Authority. She is also Chair of YouthLink Scotland and is a Trustee of the homelessness prevention charity Cyrenians.

    The independent review into Creative Scotland was first announced in the 2024-25 Programme for Government, as the first review of Creative Scotland since its establishment in 2010. The Scottish Budget 2025-26 provides an increase of £34 million to culture in Scotland, including £20 million for Creative Scotland’s multi-year funding programme.

    Following Dame Sue Bruce’s withdrawal on health grounds, and the appointment of Angela Leitch CBE as the new Chair, the independent review is now expected to publish recommendations in November 2025. Further details on the review process, including the terms of reference, will be set out to Parliament in due course.

    Chair of Creative Scotland review confirmed – gov.scot, 13 January 2025

    Letter from the Cabinet Secretary, Constitution, External Affairs and Culture in relation to the Culture Sector Review, 4 March 2025

    The full text of the Culture Secretary’s letter to update the CEEAC Committee on the appointment of Angela Leitch CBE as Chair of the independent review of Creative Scotland is as follows:

    2 April, 2025

    Dear Clare,

    INDEPENDENT REVIEW OF CREATIVE SCOTLAND

    As I shared in my previous letter of 4 March 2025, unfortunately Dame Sue Bruce has had to withdraw from leading the Review of Creative Scotland on health grounds.

    The process for appointing a successor to chair the Review of Creative Scotland has now concluded and I am delighted to report that Angela Leitch CBE has agreed to lead the Review. Angela brings a wealth of public sector experience having worked at senior level in local authorities for over two decades and served as Chief Executive for Public Health Scotland for four years. I am also pleased to confirm that the Chair will be supported by Stuart Currie who has agreed to act as Vice Chair. Stuart brings a wide range of skills and knowledge in both local government and the public sector. 

    I know the Committee shares my view that the Review will be immensely valuable work and should be completed without undue delay. Unfortunately Dame Sue’s withdrawal means that the timescale for completion will be longer than originally anticipated. I am sure you will agree that whilst the delay is unfortunate it is important that the Chair has time to undertake an evidence led Review of Creative Scotland. I have therefore asked the Chair to provide the Scottish Ministers with recommendations and a written report in November. I can also confirm that good progress is being made with consideration of the responses to the sector wide survey which took place earlier this year and the analysis of the consultation responses will be published later this Spring.

    The key objectives of the Review will be to:

    1. consider Creative Scotland’s functions and remit, as set out in the Public Services Reform (Scotland) Act 2010, to ensure they continue to be relevant for the culture sector and meet Ministers’ aspirations;
    2. evaluate how Creative Scotland delivers its functions including appropriateness of existing governance arrangements; and
    3. maximise the impact of the funding Creative Scotland provide to the culture sector by ensuring Creative Scotland use and distribute funding appropriately and effectively.

    I appreciate the Committee’s continued interest and involvement in the work to date and I would like to thank you for your patience whilst the appointment process has been underway. I know that the Chair will be keen to meet with you to discuss the final remit of the Review. The Secretariat of the Creative Scotland Review would be happy to help in arranging a meeting and can be contacted at creativescotlandreview@gov.scot

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Psychology in policing and criminology under spotlight at Aberdeen conference The impact of AI and other emerging technologies on modern policing will be investigated during an annual psychology event taking place in Aberdeen later this month.

    Source: University of Aberdeen

    Dr Eva RubinovaThe impact of AI and other emerging technologies on modern policing will be investigated during an annual psychology event taking place in Aberdeen later this month.
    Organised jointly by the University of Aberdeen, Abertay University and the Scottish Institute for Policing Research, the Applied Psychology in Policing Settings conference will focus on the use of new technology to support and work with vulnerable groups, as well as the impact of AI and other emerging technologies on policing research and practice.
    Academics from the Universities of Aberdeen, Stirling and Birmingham City will give presentations on a range of topics, including the effects of alcohol on memory recall in investigative interviews, using virtual reality to improve eyewitness testimony and how facial recognition assists police investigations.
    Dr Eva Rubinova, Lecturer at the University of Aberdeen’s School of Psychology, co-organised the event with Dr Penny Woolnough, Reader in Forensic and Investigative Psychology at Abertay University and Associate Director of the Scottish Institute for Policing Research; and Dr Julie Gawrylowicz, Reader in Applied Cognitive Psychology at Abertay University.
    Dr Rubinova will give a presentation on her research exploring strategies for interviewing witnesses in domestic abuse cases. Her project aims to collect information about practices currently used by Police Scotland officers when collecting witness statements in these cases, to inform future research.
    “We are excited to host the fourth networking conference of the Evidence and Investigation Network of the Scottish Institute for Policing Research at the University of Aberdeen,” said Dr Rubinova. “The lineup of speakers includes Aberdeen, Scottish and UK academics, all experts in their fields who will share their cutting-edge research focused on innovative technologies and evidence gathering in cases involving vulnerable groups.
    “Delegates will have opportunities to network and develop new collaborations focused on solving issues in everyday policing practice. We hope the conference will educate and inform our audience and inspire the development of new ideas and knowledge exchange.”
    Dr Clare Sutherland and Dr Travis Seale-Carlisle, from the University of Aberdeen’s School of Psychology, will also give talks at the event on hyperrealistic AI and improving eyewitness identifications respectively.
    Free to attend, Applied Psychology in Policing Settings 2025 will take place on 16 April, 10am to 4pm, at the University of Aberdeen King’s College Conference Centre. You can book your place and find out more here.

    MIL OSI United Kingdom –

  • MIL-OSI: Caro Holdings Secures Strategic Partnership to Launch Marketplace Focused on Black-Owned Businesses

    Source: GlobeNewswire (MIL-OSI)

    SHEFFIELD, United Kingdom, April 04, 2025 (GLOBE NEWSWIRE) — Caro Holdings Inc. (OTC: CAHO), a growth enablement company leveraging operational expertise, funding, and AI-driven tools to scale emerging brands, announces a strategic partnership with Kisqueya to expand its existing digital platform to become a fully-fledged global marketplace. The initiative will support Black-owned businesses and independent brands, with a focus on global visibility and scalable ecommerce growth.

    Designed as both a two-sided marketplace – similar to Etsy, Temu or Alibaba – and a listing directory – like yelp.com – it will connect sellers with international buyers while boosting discoverability for service-based businesses. Caro Holdings will host the core digital infrastructure, ecommerce framework, and AI-powered tools that support personalised discovery, predictive analytics, and automated vendor onboarding.

    The platform will launch nationally before scaling into a global hub. Kisqueya will lead vendor outreach and market development, led by founder Marie-Michelle Legrand, a Haitian entrepreneur with a background in social law. Through Kisqueya, she combines ethical commerce with community impact, supporting young women through charitable initiatives.

    “This partnership supports our goal to build inclusive, AI-driven platforms for underserved markets,” said Meriesha Rennalls, Director at Caro Holdings. “With Kisqueya, we’re creating a space where Black-owned businesses can grow with the tools and visibility they need.”

    The platform will offer:

    • AI Analytics – Real-time insights on customer behaviour and performance
    • Personalisation Tools – Tailored shopping experiences
    • Automated Communication – using AI voice for streamlined engagement

    In 2023, global e-commerce sales hit $5.8 trillion and are projected to exceed $8 trillion by 2027. Marketplaces drive over 60% of those sales, yet many small and minority-owned businesses still face barriers to entry.

    “This platform is about access and opportunity,” said Marie-Michelle Legrand, Founder of Kisqueya. “We’re opening pathways for Black-owned businesses to grow and scale.”

    The company anticipates continued expansion through regional partnerships and additional sector-specific deployments.

    About Caro Holdings Inc.
    Caro Holdings is dedicated to accelerating the growth of brands through digital innovation and AI-powered solutions. Its comprehensive suite of services includes e-commerce strategy, digital marketing, AI voice technology, and growth capital. Discover more at www.caroholdings.com.

    About Kisqueya
    ​Kisqueya is a French boutique inspired by Haiti, offering handcrafted jewellery, accessories, and home décor. The brand blends cultural craftsmanship with social purpose, supporting young women through community-led programs. Discover more at www.kisqueya.fr.

    Caro Holdings Inc.
    +1 786-755-3210
    ir@caroholdings.com

    The MIL Network –

  • MIL-OSI United Kingdom: Second shipment of vitrified waste from UK to Germany completed

    Source: United Kingdom – Government Statements

    News story

    Second shipment of vitrified waste from UK to Germany completed

    The second of three planned shipments of high level waste in the form of vitrified residues has been safely delivered to Germany.

    Seven flasks containing high level waste were transported from the Sellafield site, West Cumbria to the port of Barrow-in-Furness by rail.

    The flasks were then loaded on to the specialist nuclear transport vessel Pacific Grebe, operated by Nuclear Transport Solutions (NTS) for transfer to the German port. The waste was then transported by rail in Germany to the ISAR federal storage facility arriving on 03 April 2025.

    This shipment was carried out in full compliance with all appropriate national and international regulations.

    The waste returned resulted from the reprocessing and recycling of spent nuclear fuel at Sellafield which had previously been used to produce electricity by utilities in Germany.

    Vitrified Residue Returns are a key component of the UK’s strategy to repatriate high level waste from the Sellafield site, fulfil overseas contracts and deliver on government policy.

    Sellafield Ltd’s programme manager Jonathan Clingan said:

    Thanks to the excellent work of various teams at Sellafield Ltd, NTS and other partners in the UK and overseas, we have safely delivered the second Vitrified Residue Return to Germany, delivering a key milestone in the UK Government’s commitment to returning waste to overseas customers.

    Updates to this page

    Published 4 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI Europe: Euro area quarterly balance of payments and international investment position: fourth quarter of 2024

    Source: European Central Bank

    4 April 2025

    • Current account surplus at €426 billion (2.8% of euro area GDP) in 2024, after a €243 billion surplus (1.7% of GDP) a year earlier.
    • Geographical counterparts: largest bilateral current account surpluses vis-à-vis United Kingdom (€197 billion) and Switzerland (€76 billion) and largest deficit vis-à-vis China (€105 billion).
    • International investment position showed net assets of €1.66 trillion (10.9% of euro area GDP) at end of 2024.
    • Bilateral current account vis-à-vis the United States: surplus of €3 billion (0.0% of euro area GDP) in 2024, following a deficit of €30 billion (0.2% of GDP) in 2023. For more details see dedicated section on economic and financial linkages between the euro area and the United States.

    Current account

    The current account of the euro area recorded a surplus of €426 billion (2.8% of euro area GDP) in 2024, following a €243 billion surplus (1.7% of GDP) a year earlier (Table 1). This development was driven by larger surpluses for goods (from €264 billion to €372 billion), services (from €127 billion to €169 billion) and primary income (from €20 billion to €54 billion). The deficit for secondary income increased moderately from €167 billion to €168 billion.

    The estimates on goods trade broken down by product group show that in 2024 the increase in the goods surplus was mainly due to a reduction in the deficit for energy products (from €314 billion to €260 billion). In addition, the surpluses for chemical products and machinery and manufactured products increased (from €244 billion to €268 billion and from 283 billion to €300 billion, respectively).

    The larger surplus for services in 2024 was mainly due to widening surpluses for telecommunication, computer and information (from €169 billion to €203 billion) and travel (from €52 billion to €61 billion), and a lower deficit for other business services (from €60 billion to €28 billion). These developments were partly offset by a widening deficit for charges for the use of intellectual property (from €100 billion to €126 billion).

    In 2024, the increase in the primary income surplus was mainly due to larger surpluses in direct investment (from €72 billion to €104 billion), portfolio debt (from €59 billion to €79 billion), and other primary income (from €3 billion to €15 billion), which were partly offset by a larger deficit in portfolio equity (from €163 billion to €194 billion).

    Table 1

    Current account of the euro area

    (EUR billions, unless otherwise indicated; transactions during the period; non-working day and non-seasonally adjusted)

    Source: ECB.
    Notes: “Equity” comprises equity and investment fund shares. Goods by product group is an estimated breakdown using a method based on statistics on international trade in goods. Discrepancies between totals and their components may arise from rounding.

    Data for the current account of the euro area

    Data on the geographical counterparts of the euro area current account (Chart 1) show that in 2024, the euro area recorded its largest bilateral surpluses vis-à-vis the United Kingdom (€197 billion, down from €220 billion a year earlier) and Switzerland (€76 billion, up from €65 billion). The euro area also recorded surpluses vis-à-vis other emerging countries (€155 billion, up from €135 billion a year earlier) and other advanced countries (€114 billion, up from €80 billion). The largest bilateral deficit was recorded vis-à-vis China (€105 billion, down from €109 billion a year earlier) and a deficit was also recorded vis-à-vis the residual group of other countries (€96 billion, down from €142 billion).

    The most significant changes in the geographical components of the current account in 2024 relative to 2023 were as follows: the goods surpluses increased vis-à-vis the United States (from €179 billion to €213 billion) and vis-à-vis other advanced countries (from €27 billion to €50 billion), while the goods deficit vis-à-vis China increased from €131 billion to €141 billion. In services, the deficit vis-à-vis the United States increased (from €124 billion to €156 billion), while the balance vis-à-vis offshore centres shifted from a deficit (€8 billion) to a surplus (€16 billion). In primary income, the balance vis-à-vis the United Kingdom shifted from a surplus (€31 billion) to a deficit (€4 billion) while a smaller deficit was recorded vis-à-vis the United States (from €84 billion to €52 billion). The deficit in secondary income vis-à-vis the EU Member States and EU institutions outside the euro area decreased slightly (from €76 billion to €73 billion).

    Chart 1

    Geographical breakdown of the euro area current account balance

    (four-quarter moving sums in EUR billions; non-seasonally adjusted)

    Source: ECB.
    Note: “EU non-EA” comprises the non-euro area EU Member States and those EU institutions and bodies that are considered for statistical purposes as being outside the euro area, such as the European Commission and the European Investment Bank. “Other advanced” includes Australia, Canada, Japan, Norway and South Korea. “Other emerging” includes Argentina, Brazil, India, Indonesia, Mexico, Saudi Arabia, South Africa and Türkiye. “Other countries” includes all countries and country groups not shown in the chart, as well as unallocated transactions.

    Data for the geographical breakdown of the euro area current account

    International investment position

    At the end of 2024, the international investment position of the euro area recorded net assets of €1.66 trillion vis-à-vis the rest of the world (10.9 % of euro area GDP), up from €1.25 trillion in the previous quarter (Chart 2 and Table 2).

    Chart 2

    Net international investment position of the euro area

    (net amounts outstanding at the end of the period as a percentage of four-quarter moving sums of GDP)

    Source: ECB.

    Data for the net international investment position of the euro area

    The €407 billion increase in net assets was mainly driven by larger net assets in portfolio debt (up from €1.27 trillion to €1.42 trillion), direct investment (up from €2.54 trillion to €2.66 trillion) and reserve assets (up from €1.32 trillion to €1.39 trillion).

    Table 2

    International investment position of the euro area

    (EUR billions, unless otherwise indicated; amounts outstanding at the end of the period, flows during the period; non-working day and non-seasonally adjusted)

    Source: ECB.
    Notes: “Equity” comprises equity and investment fund shares. Net financial derivatives are reported under assets. “Other volume changes” mainly reflect reclassifications and data enhancements. Discrepancies between totals and their components may arise from rounding.

    Data for the international investment position of the euro area

    The developments in the euro area’s net international investment position in the fourth quarter of 2024 were driven mainly by positive exchange rate changes, and to a lesser extent by positive transactions and other volume changes (Table 2 and Chart 3).

    At the end of the fourth quarter of 2024, direct investment assets of special purpose entities (SPEs) amounted to €3.58 trillion (28% of total euro area direct investment assets), up from €3.53 trillion at the end of the previous quarter (Table 2). Over the same period, direct investment liabilities of SPEs increased from €3.10 trillion to €3.13 trillion (31% of total direct investment liabilities).

    At the end of the fourth quarter of 2024 the gross external debt of the euro area amounted to €16.70 trillion (110% of euro area GDP), up by €1 billion compared with the previous quarter.

    Chart 3

    Changes in the net international investment position of the euro area

    (EUR billions; flows during the period; non-working day and non-seasonally adjusted)

    Source: ECB.
    Note: “Other volume changes” mainly reflect reclassifications and data enhancements. 

    Data for changes in the net international investment position of the euro area

    At the end of 2024 euro area direct investment assets were €12.62 trillion, 23% of which was invested in the United States and 19% in the United Kingdom (see Table 3). Euro area direct investment liabilities were €9.96 trillion, with 28% being investments from the United States, 19% from offshore centres and 18% from the United Kingdom.

    In portfolio investment, euro area holdings of foreign securities amounted to €7.57 trillion in equity and €7.09 trillion in debt securities at the end of 2024. The largest holdings of equity were in securities issued by residents of the United States (accounting for 60%). In debt securities, the largest euro area holdings were in securities issued by residents of the United States (accounting for 38%), the United Kingdom (17%) and the EU Member States and EU institutions outside the euro area (16%).

    On the portfolio investment liabilities side, non-residents’ holdings of securities issued by euro area residents stood at €10.84 trillion in equity and at €5.67 trillion in debt at the end of 2024. The largest holder countries of euro area equity were the United States (27%) and the United Kingdom (13%), while for euro area debt securities the largest holders were the BRIC group of countries (14%), the United States (13%) and Japan (11%).

    In other investment, euro area residents’ claims on non-residents amounted to €7.18 trillion, 29% of which was vis-à-vis the United Kingdom and 24% vis-à-vis the United States. Euro area other investment liabilities amounted to €7.71 trillion, with the United Kingdom accounting for 25% and the United States for 19%.

    Table 3

    International investment position of the euro area – geographical breakdown

    (as a percentage of the total, unless otherwise indicated; at the end of the period; non-working day and non-seasonally adjusted)

    Source: ECB.
    Notes: “Equity” comprises equity and investment fund shares. “EU non-EA” comprises the non-euro area EU Member States and those EU institutions and bodies that are considered for statistical purposes as being outside the euro area, such as the European Commission and the European Investment Bank. The “BRIC” countries are Brazil, Russia, India and China. “Other advanced” includes Australia, Canada, Norway and South Korea. “Other emerging” includes Argentina, Indonesia, Mexico, Saudi Arabia, South Africa and Türkiye. “Other countries” includes all countries and country groups not listed in the table as well as unallocated positions.

    Data for the international investment position of the euro area – geographical breakdown

    Economic and financial linkages between the euro area and the United States

    This statistical release provides a longer-term perspective on the euro area’s bilateral current account balance and international investment position vis-à-vis the United States by presenting developments over the past decade.

    In 2024 the euro area recorded a current account surplus of €3 billion (0.0% of euro area GDP) vis-à-vis the United States, following a deficit of €30 billion (0.2% of GDP) in 2023 (see Chart 4). The euro area had recorded a rather stable current account surplus vis-à-vis the United States of around 1.0% of GDP between 2015 and 2019, which gradually declined subsequently and turned into a deficit in 2022. Since 2015 the euro area has run a persistent and sizeable goods surplus vis-à-vis the United States, rising from €127 billion in 2015 to €213 billion in 2024. The marked decline in the euro area current account surplus vis-à-vis the United States over the past decade was mainly due to a pronounced widening in the deficit for services (from €21 billion in 2015 to €156 billion in 2024), driven by an increasing deficit in charges for the use of intellectual property (from €5 billion to €168 billion). In addition, the euro area’s primary income balance vis-à-vis the United States changed from a surplus of €2 billion in 2015 to a deficit of €52 billion in 2024, largely due to a widening deficit in direct investment income. The developments in the euro area’s bilateral current account balance vis-à-vis the United States, in particular the significant changes observed since 2019, are partly connected to the activities of US multinational enterprises in the euro area.

    Chart 4

    Euro area current account balance vis-à-vis the United States

    (left-hand scale: four-quarter moving sums in EUR billions; right-hand scale: four-quarter moving sums as a percentage of GDP; non-seasonally adjusted)

    Source: ECB.

    Data for the current account of the euro area vis-a-vis the United States

    At the end of 2024, the euro area’s bilateral investment position vis-à-vis the United States showed net assets equivalent to 26% of euro area GDP, up from 18% of GDP at the end of 2023 and 4% of GDP at the end of 2015 (Chart 5). Net asset positions in portfolio investment debt (13% of GDP) and portfolio investment equity (11% of GDP) contributed most to the euro area’s bilateral net asset position at the end of 2024. The increase in the euro area bilateral net asset position since 2015 was driven mainly by a shift in portfolio investment equity from a net debtor to a net creditor position, as euro area portfolio investment equity assets vis-à-vis the United States rose more strongly than the corresponding liabilities. Developments in portfolio investment debt and direct investment also contributed, albeit to a lesser extent, to the increase in total net assets vis-à-vis the United States.

    Chart 5

    vis-à-vis the United States

    Euro area net investment position

    (net amounts outstanding at the end of the period as a percentage of four-quarter moving sums of GDP)

    Source: ECB.

    Notes: “Total net position” refers to the sum of net direct investment, net portfolio investment, net other investment and net financial derivatives. Reserve assets are not included in the total. Net positions are computed as the asset positions minus the liability positions of the respective item. Discrepancies between totals and their components may arise from rounding.

    The United States is the largest destination country for euro area cross-border financial investment. Euro area financial assets vis-à-vis the United States amounted to €12.38 trillion at the end of 2024 (82% of euro area GDP), with an 83% increase since the end of 2015 (see Table 4). This development increased the share of the United States in euro area external assets from 27% to 33%. The increase was mainly due to euro area holdings of portfolio investment equity issued by residents of the United States, which have risen by 286% since the end of 2015, mainly as a result of positive price revaluations. At the same time, euro area holdings of portfolio investment debt securities have increased by 91% since the end of 2015.

    The United States is also the largest source country for euro area cross-border financial investment, accounting for bilateral financial liabilities of €8.41 trillion (56% of euro area GDP) at the end of 2024, a 32% increase since the end of 2015. Over the same period, the share of the United States in euro area external liabilities remained broadly stable at 22%. This development mainly reflected an increase of 97% in portfolio investment equity liabilities vis-à-vis the United States, while direct investment liabilities vis-à-vis the United States declined by 9%.

    Table 4

    Euro area international investment position vis-à-vis the United States

    (at the end of the period; non-working day and non-seasonally adjusted)

    Source: ECB.
    Notes: “p.p.” refers to percentage points. “Equity” comprises equity and investment fund shares. “Total assets/liabilities” refers to the sum of direct investment, portfolio investment, other investment and financial derivatives. Reserve assets are not included in the total. Around 17% of the Eurosystem’s total reserve assets of €1.3 trillion are held in the form of securities, of which an undisclosed part is invested in securities issued in the United States. Financial derivatives are reported separately in gross terms under assets and liabilities. Discrepancies between totals and their components may arise from rounding.

    Data for the international investment position of the euro area – vis-à-vis the US

    Data revisions

    This statistical release incorporates revisions to the data for the reference periods between the first quarter of 2021 and the third quarter of 2024. The revisions reflect revised national contributions to the euro area aggregates because of the incorporation of newly available information.

    MIL OSI Europe News –

  • MIL-OSI Russia: 80 years since the capture of Bratislava

    Translartion. Region: Russians Fedetion –

    Source: State University of Management – Official website of the State –

    On April 4, 1945, during the Bratislava-Brno operation, Soviet troops liberated Bratislava from the German invaders.

    The offensive operation was carried out by the forces of the 2nd Ukrainian Front under the command of Marshal Rodion Malinovsky. They were confronted by the 200,000-strong Army Group “South” in convenient natural and well-fortified defensive positions.

    The 1st Guards Cavalry-Mechanized Group under the command of Lieutenant General Issa Pliev especially distinguished itself in the battles on the approaches to the city. Its sudden and stunning raids on the enemy’s rear terrified the Germans and did not allow them to organize a defense on the borders of the Nitra, Vah, and Morava rivers.

    By April 1, the Red Army had reached the city limits. The enemy had carefully prepared for defense, creating numerous reinforced concrete firing points, anti-tank ditches, and minefields. Barricades, anti-personnel and anti-tank obstacles were erected on the streets of Bratislava. The eastern outskirts were especially strongly fortified, since the northern part of the city was protected by the Little Carpathians, and the southern part by the Little Danube and the Danube. In order to avoid protracted battles and the destruction of the city, the command decided to attack with simultaneous strikes from the northeast and southeast. The Danube Flotilla was involved in the assault, its ships made a 75-kilometer dash from Komárno to Bratislava along a mined fairway, and the sailors took direct part in the city battles.

    On April 2, Soviet troops broke through the enemy’s outer fortifications and stormed into the city. Fierce fighting for every house lasted for two days, assault groups systematically moved from street to street and by midday on April 4 they reached the center of Bratislava. The remnants of the German garrison fled toward Vienna.

    During the Bratislava-Brno operation, the troops of the 2nd Ukrainian Front advanced 200 kilometers, occupied the Bratislava and Brno industrial districts, completed the liberation of Slovakia, and created conditions for a rapid advance on Prague. In honor of the capture of Bratislava, a ceremonial salute was given in Moscow – 24 volleys from 324 guns. For the heroism and military valor displayed during the liberation of Brno and Bratislava, 99 formations and units were awarded orders, and 15 received the honorary title of “Bratislava”.

    On the territory of modern Slovakia there are about 160 graves of Soviet soldiers who died during the liberation of this country from fascism. More than 60 thousand Soviet soldiers are buried in military cemeteries. In memory of them, about 100 different monuments and memorial signs have been erected. Eternal memory to the heroic liberators!

    The State University of Management congratulates on this memorable date and recalls our scientific regiment-employees who fought as part of the 2nd Ukrainian Front on the territory of Czechoslovakia:
    -Hero of the Soviet Union Mikhail Gureev, artillery colonel, vice-rector and deputy director of the MIE-Miu-Gau-Guu for administrative work (1972-2008);
    -Anatoly Petrov, head of the radio station of the 1st Guards Airborne Brigade, foreman, doctor of economic sciences, head of the planning department of the national economy of the MIEI MIU;
    -Boris Rodionov, Major Engineer, graduate of MIE, Doctor of Economics, Head of the Department of Organization and Planning of Mechanical Engineering MIE-Miu.

    #Scientific regiment

    Subscribe to the TG channel “Our GUU” Date of publication: 04.04.2025

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: “Let’s Revive the Apple Orchard”: a Caring Campaign by GUU Students

    Translartion. Region: Russians Fedetion –

    Source: State University of Management – Official website of the State –

    On April 2, a charity event of care, “Let’s Revive the Apple Orchard,” was held at the GUU campus.

    Teachers and third-year students of the Institute of Marketing, under the leadership of Director Gennady Azoev, gathered in the central square of the State University of Management to tidy up the apple trees growing on the campus.

    “Spring pruning and care are extremely important for the formation of the correct tree crown, as they allow the branches not to interfere with each other and let in more sunlight. In addition, removing unnecessary and frozen branches over the winter will allow the apple trees not to waste energy on their restoration and to properly distribute the nutritious juices,” said Gennady Lazarevich.

    Now the trunks of the apple trees in the university garden are whitewashed, the cuts are treated with garden pitch, and the students have learned the secrets of caring for the trees.

    In continuation of the “Let’s Revive the Apple Orchard” campaign, representatives of the Institute of Pear and Plum Trees are planning to plant them in the near future.

    Subscribe to the TG channel “Our GUU” Date of publication: 04.04.2025

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI United Kingdom: Current events in Turkey: UK Statement to the OSCE

    Source: United Kingdom – Executive Government & Departments

    Speech

    Current events in Turkey: UK Statement to the OSCE

    Ambassadors Holland says the UK is closely monitoring the situation in Turkey.

    Thank you, Mr Chair.  We are closely monitoring the situation in Türkiye. This is an ongoing domestic Turkish legal process, and the UK expects Türkiye to uphold its international commitments and the rule of law, including swift and transparent judicial processes. 

    We have raised recent events with the Turkish Government and the Foreign Secretary spoke with Foreign Minister Fidan to raise the UK’s concern. 

    The UK is a staunch supporter of democracy, human rights and the rule of law across the world and will always support the fundamental rights to freedom of speech, peaceful assembly and media freedom.

    Updates to this page

    Published 4 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Groupama Group 2024 annual results

    Source: GlobeNewswire (MIL-OSI)

    Premium income (insurance premiums and other income) of €18.5 billion, up +8.9%

    • Growth in activity in all business lines: property and casualty insurance (+5.2%), health & protection (+15.2%) and savings & pensions (+8.1%)
    • Sustained growth in France (+8.9%) and in international subsidiaries (+8.3%)
    • Insurance revenue (IFRS 17) of €16.3 billion

    Net income of €961 million

    • Economic operating income of €954 million, up €52 million
    • Moderate weather loss experience
    • Combined ratio of 95.1%

    Solvency ratio of 185% without transitional measure

    • Solvency ratio of 241% without transitional measure on underwriting reserves
    • Group’s IFRS equity of €10.5 billion, up +€0.6 billion
    • Contractual service margin of €3.8 billion

    “Groupama is showing very satisfactory results, both in terms of revenue growth and profitability. Despite a turbulent economic and geopolitical environment, the group demonstrates the solidity and strength of its mutual model, which forms the foundation of an ambitious development strategy as well as investments for the future. I would like to thank our elected representatives and our employees for their commitment.”, stated Laurent Poupart, Chairman of the Board of Directors of Groupama Assurances Mutuelles.

    “The group’s results are very positive, with net income supported by a robust operating income from our insurance activities. These results stem from all our operations, including property and casualty as well as life and health insurance, both in France and internationally. They enable us to navigate the complex and uncertain economic environment on solid foundations and to generate investment capacity for our development.”, added Thierry Martel, CEO of Groupama Assurances Mutuelles.

    The Board of Directors of Groupama Assurances Mutuelles met on 3 April 2025, under the chairmanship of Laurent Poupart, and approved the Group’s combined financial statements for fiscal year 2024.

    Activity (insurance premiums and other income)

    At 31 December 2024, Groupama’s combined premium income stood at €18.5 billion, +8.9% increase from 31 December 2023. The increase stemmed from the development of property and casualty insurance (+5.2%), sustained growth in health & protection insurance (+15.2%) and the return to growth in the savings & pensions business (+8.1%).

    Groupama premium income at 31 December 2024

    in millions of euros 31/12/2024 Like-for-like change
    Property and casualty insurance 9,241 +5.2%
    Health & Protection 5,900 +15.2%
    Savings & Pensions 3,115 +8.1%
    Financial businesses 246 +15.6%
    GROUP TOTAL 18,503 +8.9%

      

    In France

    Insurance premium income in France at 31 December 2024 amounted to €15.2 billion, up +8.9% compared with 31 December 2023.

    In property and casualty insurance, premium income amounted to €7.0 billion at 31 December 2024, up +4.3%, driven by strong growth in business and local authority insurance (+8.1%), home insurance (+5.1%) and, to a lesser extent, by the increase in motor insurance (+2.8%) and agricultural insurance (+2.9%).

    The health & protection business saw strong growth (+14.8%) to €5.5 billion as at 31 December 2024, underpinned by increases in both group health (+23.5%) and individual health (+7.2%).

    In savings & pensions, premium income rebounded with a growth of 9.7%, reaching €2.7 billion as of December 31, 2024. This growth was driven by an increase in individual savings & pensions (+12.6%), particularly in unit-linked savings & pensions (+22.5%), which benefited from the success of Telluma.

    International

    At the end of 2024, business reached €3.1 billion, up +8.3% at constant scope and exchange rates compared with 31 December 2023, benefiting from strong business growth in Hungary (+19.1%) and sustained growth in Romania (+7.4%) and Italy (+5.9%).

    Property and casualty insurance premium income totalled €2.3 billion as at 31 December 2024, up +8.2% from the previous period. This growth was driven by property and casualty insurance for businesses and local authorities (+15.6%), mainly in Romania, by motor insurance (+6.7%), which grew significantly in Hungary, Bulgaria and Italy, as well as by strong performances in home insurance (+11.7%), particularly in Greece and Bulgaria.

    Premium income in savings & pensions was virtually stable (-0.6%) at €0.5 billion, with growth in individual savings & pensions in unit-linked products (+25.5%) being offset by the decline in the group savings& pensions business (-41.8%).

    In health and protection, business grew significantly (+21.8%) to €0.4 billion, benefiting from growth in group insurance (+40.0%), mainly in Romania and Bulgaria, and from the increase in individual protection (+14.1%).

    Financial businesses

    The Group’s premium income was €246 million, including €238 million from Groupama Asset Management and €8 million from Groupama Epargne Salariale.

    Results

    Economic operating income increased to €954 million at 31 December 2024, up 52% compared with 31 December 2023.

    It came from property and casualty insurance for €429 million (€316 million as at 31 December 2023) and health and protection insurance for €299 million (€233 million as at 31 December 2023). The Group’s non-life combined ratio was 95.1% at 31 December 2024, an improvement of -1.7 points compared with 31 December 2023. This change is linked to the decrease in claims related to natural disasters, for which the cost net of reinsurance amounted to €637 million in 2024 compared with €968 million in 2023, as well as the improvement in the attritional loss experience and the increase in prior year reserve bonuses. Conversely, the discount effect is less than in 2023. The operating costs ratio was virtually stable at 28.1% as at 31 December 2024.

    Economic operating income from savings & pensions was €327 million at 31 December 2024 (€156 million at 31 December 2023). It benefited in particular from the result of the switch of the share reinsured by Groupama Gan Vie to CNP Retraite in the PREFON Retraite reinsurance treaty, effective 1 January 2024.

    Economic operating income from financial activities amounted to +€44 million and that of the Group’s holding company activity was -€146 million at 31 December 2024.

    The transition from economic operating income to net income includes non-recurring items, in particular the realisation of capital gains or losses, the change in the fair value of financial assets, and financing expenses. The Group’s overall net income totalled €961 million at 31 December 2024, compared with €510 million at 31 December 2023.

    Balance sheet

    Group’s IFRS equity totalled €10.5 billion at 31 December 2024 compared with €9.9 billion as at 31 December 2023. This change is mainly due to the positive contribution of income for the financial year and the perpetual subordinated debt issue in early July 2024 for €600 million, mitigated by the redemption in May 2024 of the perpetual subordinated notes issued in 2014 for €871 million.

    The Group’s contractual service margin, which represents the deferred future profits of outstanding contracts in savings and pensions and long-term protection, amounted to €3.8 billion at 31 December 2024, up +€162 million compared with 31 December 2023.

    Insurance investments totalled €67.2 billion, down -€3.2 billion, mainly due to the disposal of assets from the Prefon portfolio and changes in the financial markets (rise in government bond yields).

    At 31 December 2024, the Solvency 2 ratio, without transitional measure on underwriting reserves, was 185%. The 12-point decrease in the rate compared with end-2023 was mainly due to unfavourable market effects reflecting the widening of government bond spreads as well as the redemption in May 2024 of perpetual subordinated bonds issued in 2014 for €871 million, partially offset by the net income for the fiscal year and by the issue of perpetual subordinated debt in July 2024 for €600 million. The ratio with transitional measure on underwriting reserves, authorised by the ACPR, was 241%.

    The Group’s financial strength was highlighted by Fitch Ratings, which affirmed Groupama’s rating at ‘A+’ with a ‘Stable’ outlook on 9 December 2024.

    Group Communications Department

    For the financial statements as at 31/12/2024, the Group’s financial information consists of:

    • this press release, which is available on the website groupama.com,
    • the universal registration document of Groupama, which will be filed with the AMF on 28 April 2025 and posted on the www.groupama.com website on the same day.

    Appendix: Groupama key figures

    Premium income (insurance premiums and other income)

    € million 31/12/2023
    pro forma*    		 31/12/2024 Change **
    as %
    > France 13,919 15,154 +8.9%
    Property and Casualty 6,686 6,974 +4.3%
    Health & Protection 4,804 5,515 +14.8%
    Savings & Pensions 2,429 2,665 +9.7%
    > International & Overseas territories 2,866 3,103 +8.3%
    Property and Casualty 2,096 2,268 +8.2%
    Health & Protection 316 385 +21.8%
    Savings & Pensions 453 450 -0.6%
    TOTAL INSURANCE 16,785 18,257 +8.8%
    Financial businesses 213 246 +15.6%
    Groupama premium income 16,997 18,503 +8.9%

    * Based on comparable data
    ** Change on a like-for-like exchange rate and consolidation basis

    Economic operating income

    € million 31/12/2023 31/12/2024
    Insurance – France 544 856
    Insurance – International 161 200
    Financial businesses 35 44
    Holding companies -113 -146
    Economic operating income* 627 954

    * Economic operating income: net income restated for realised capital gains and losses, allocations to and reversals of provisions for long-term impairment and unrealised gains and losses on financial assets recognised at fair value from property and casualty, health/personal protection, financial and holding company activities (these items being net of corporate income tax). Non-recurring transactions net of tax, impairment of goodwill (net of tax) and external financing expenses are also restated.

    Net income

    € million 31/12/2023 31/12/2024
    Insurance – France
    Insurance – International    		 572
    141    		 906
    161
    Financial businesses 35 44
    Holding companies -128 -151
    Disposal of activities in Turkey -110 –
    Net income 510 961

    Balance sheet

    € million 31/12/2023 31/12/2024
    Group’s IFRS equity 9,862 10,487
    Subordinated debts 3,009 2,741
    – classified as Group’s IFRS equity  871 600
    – classified as “Financing debt” 2,138 2,141
    Contractual service margin 3,649 3,810
    Total balance sheet 91,949 89,396

    Main ratios

      31/12/2023 31/12/2024
    Combined non-life ratio 96.8% 95.1%
    Debt ratio 21.8% 18.7%
    Solvency 2 ratio (with transitional measure*) 267% 241%
    Solvency 2 ratio (without transitional measure*) 197% 185%

    * transitional measure on underwriting reserves

    Financial strength rating – Fitch Ratings

      Rating * Outlook
    Groupama Assurances Mutuelles and its subsidiaries A+ Stable

    * Insurer Financial Strength (IFS)

    About Groupama Group

    For more than 100 years, Groupama Group has based its actions on timeless, humanist values to enable as many people as possible to build their lives in confidence. It relies on humane, caring, optimistic and responsible communities. The Groupama Group, one of the leading mutual insurers in France, carries out its insurance and service business activities in ten countries. The Group has 12 million members and customers and 32,000 employees throughout the world, with premium income of €18.5 billion.

    Attachment

    The MIL Network –

  • MIL-OSI: Amber Grid Board has appointed Nemunas Biknius as the CEO of the Company for the new term

    Source: GlobeNewswire (MIL-OSI)

    AB Amber Grid, Legal entity code: 303090867, Address: Laisvės pr. 10, LT-04215 Vilnius, Lithuania

    On April 3, 2025, the Amber Grid Board, having evaluated the candidates selected by the external recruitment agency and the EPSO-G Nomination and Remuneration Committee and the recommendations provided, considered in detail the 6 strongest candidates, from which it appointed Nemunas Biknius as the CEO. The CEO of Amber Grid has been appointed for a five-year term.

    N. Biknius has been managing the company since April 2020, having previously been managing the company on an interim basis for almost half a year. Previously, N. Biknius worked as the Head of Strategy and Development at EPSO-G, a shareholder of Amber Grid.

     

    More information:
    Laura Šebekienė, Head of Communications of Amber Grid,
    Ph. +370 699 61 246, e-mail: l.sebekiene@ambergrid.lt

    Attachment

    The MIL Network –

  • MIL-OSI: Eviden receives ANSSI standard qualification for its network security solution

    Source: GlobeNewswire (MIL-OSI)

    Paris, France – April 4, 2025 – Eviden, the Atos Group business leading in digital, cloud, big data and security today announces that it has obtained a standard-level qualification from the French National Agency for Information Systems Security (ANSSI) for its Trustway IP Protect product. This milestone attests to the reliability, robustness and effectiveness of this virtual private network (VPN) in protecting sensitive communications and data.

    Guaranteeing secure communications for businesses of all sizes, Trustway IP Protect ensures protected connectivity across networks, safeguards sensitive information against potential threats and hacking, and guarantees the confidentiality and integrity of IP flows. Based on a cryptographic module developed in France, the Trustway IP Protect range meets IPSec standards and will soon support post-quantum algorithms, as part of its strategic partnership with CryptoNext Security.

    The ANSSI qualification process consists of a rigorous assessment demonstrating the security level of the cybersecurity solutions, their compliance with ANSSI requirements, and the supplier’s credibility. The qualification also establishes compliance with the IPsec DR standard, enabling Trustway IP Protect to be implemented in systems, subject to restricted distribution approval.

    This milestone follows obtaining Trustway’s EAL4+ Common Criteria certification in December 2024, further consolidating Trustway IP Protect’s position as a trusted, benchmark solution for securing critical infrastructures.

    With a standard-level qualification, regulated organizations can deploy Trustway IP Protect with complete confidence, meeting the requirements set by Instruction II No. 901.

    Antoine Schweitzer-Chaput, Director of the Trustway range, Eviden, Atos Group said “Achieving this qualification not only demonstrates our commitment to high-quality security solutions, but also affirms our ability to meet the complex needs of our customers. This achievement is the result of several years’ hard work by our teams, and today enables us to offer a sovereign French solution to all infrastructures constrained by the strictest regulations.”

    ***

    About Eviden1

    Eviden is a next-gen technology leader in data-driven, trusted and sustainable digital transformation with a strong portfolio of patented technologies. With worldwide leading positions in advanced computing, security, AI, cloud and digital platforms, it provides deep expertise for all industries in more than 47 countries. Bringing together 41,000 world-class talents, Eviden expands the possibilities of data and technology across the digital continuum, now and for generations to come. Eviden is an Atos Group company with an annual revenue of c. € 5 billion.

    About Atos

    Atos is a global leader in digital transformation with c. 78,000 employees and annual revenue of c. € 10 billion. European number one in cybersecurity, cloud and high-performance computing, the Group provides tailored end-to-end solutions for all industries in 68 countries. A pioneer in decarbonization services and products, Atos is committed to a secure and decarbonized digital for its clients. Atos is a SE (Societas Europaea) and listed on Euronext Paris.

    The purpose of Atos is to help design the future of the information space. Its expertise and services support the development of knowledge, education and research in a multicultural approach and contribute to the development of scientific and technological excellence. Across the world, the Group enables its customers and employees, and members of societies at large to live, work and develop sustainably, in a safe and secure information space.

    Press contact: globalprteam@atos.net

    1 Eviden business is operated through the following brands: AppCentrica, ATHEA, Cloudamize, Cloudreach, Cryptovision, DataSentics, Edifixio, Engage ESM, Evidian, Forensik, IDEAL GRP, In Fidem, Ipsotek, Maven Wave, Profit4SF, SEC Consult, Visual BI, X-Perion.

    Eviden is a registered trademark. © Eviden SAS, 2025.

    Attachment

    The MIL Network –

  • MIL-OSI USA: Congressman Hank Johnson Condemns Republican Attacks on the Judiciary

    Source: United States House of Representatives – Representative Hank Johnson (GA-04)

    WASHINGTON, D.C. – During a House Judiciary Subcommittee hearing this week, Congressman Hank Johnson (GA-04), Ranking Member of the Subcommittee on Courts, Intellectual Property, and the Internet, pushed back against Republican efforts to undermine judicial independence by threatening to impeach judges who rule against Donald Trump.  

    “When you attack the judges and claim that they need to be impeached, not for high crimes and misdemeanors, but for simply ruling in a way that is against [Donald Trump], what impact does that have on our justice system and our democracy?” asked Congressman Johnson.  

    Professor Kate Shaw, a witness at the hearing, responded: “I worry that the intent there is the same, to basically have a chilling effect on the willingness of judges to rule against the Administration.”

    An independent judiciary is a cornerstone of American democracy, ensuring the rule of law prevails over partisan interests. Congressman Johnson remains steadfast in protecting judicial integrity and upholding the Constitution against partisan attacks.  

    [WATCH: Congressman Hank Johnson’s Opening Remarks]

    About Congressman Hank Johnson: 
    Hank Johnson represents Georgia’s 4th Congressional District, where he is a staunch advocate for civil rights, public safety, and economic justice. Learn more at https://hankjohnson.house.gov/ 

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Paul Turner sworn in as International Commissioner of Solomon Islands Scouts Association

    Source: United Kingdom – Government Statements

    World news story

    Paul Turner sworn in as International Commissioner of Solomon Islands Scouts Association

    Paul Turner took his Oath at Government House on Thursday 3 April 2025 before Chief Scout and Governor General of Solomon Islands, His Excellency Sir David Tiva Kapu.

    Group photo with the newly appointed International Commissioner of Scout, His Excellency Paul Turner.

    British High Commissioner to Solomon Islands and Non-Resident Commissioner to the Republic of Nauru, His Excellency Paul Robert Turner is the new International Commissioner of the Solomon Islands Scout Association.

    High Commissioner Paul Turner took his Oath at Government House on Thursday 3 April 2025 before Chief Scout and Governor General of Solomon Islands, His Excellency Sir David Tiva Kapu in a brief investiture and installation programme.

    Chief Commissioner of Scout, Joe Billy Oge welcomed the new International Commissioner to the Scout Movement:

    Welcome to the worldwide brotherhood of Scouting your Excellency British High Commissioner as the newly appointed International Commissioner for Solomon Islands Scout Association. We look forward to a close working relationship with you during your term in office in Solomon Islands.

    In his brief remarks, new International Commissioner of the Scout Movement, Paul Turner said:

    I was once in the scouts as a boy and I know the huge value the scouts can bring, both to young people and local communities. The scouts offer wonderful opportunities for boys to develop a range of life skills and to be a key part of the community.

    The Oath of Office ceremony was administered by the office of the Chief Commissioner before His Excellency the Governor General and Chief Scout of Solomon Islands Sir David Tiva Kapu. He was assisted by the Chairman of the Scout Council Mr. William Barile and National Commissioner for Training Mr. Edward James Anisi.

    The appointments were approved by the Scout Council and signed by His Excellency the Governor General and Chief Scout of Solomon Islands, Sir David Tiva Kapu.

    The Solomon Islands Scout Association was admitted as the 172nd member of the World Organisation of Scout Movement (WOSM) with voting rights as of 30 June 2021.

    Updates to this page

    Published 4 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI China: Chinese children’s books foster cultural exchanges through stories

    Source: China State Council Information Office 3

    The 62nd Bologna Children’s Book Fair (BCBF) has once again brought together the global children’s publishing community, attracting more than 1,500 exhibitors from over 90 countries and regions.

    As one of the most influential events in the professional publishing calendar, this year’s fair — held from March 31 to April 3 — is expected to draw over 20,000 industry visitors. Among the key highlights, Chinese children’s books stood out for their cultural richness, creative storytelling, and growing appeal in international markets.

    Led by China National Publications Import & Export (Group) Corporation, the Chinese delegation brought together more than 40 prominent publishers, offering a wide selection of titles ranging from picture books and children’s literature to science education. At the center of the exhibition hall, the China Pavilion’s “Premium Chinese Children’s Books” section featured acclaimed original works, including popular properties such as Ne Zha.

    “Children’s books serve as an important window for the world to understand Chinese culture,” said Elena Pasoli, director of the Bologna Children’s Book Fair. She noted the increasing global attention Chinese books have received in recent years due to their diverse content, innovative formats, and cultural depth.

    This year, China’s presence at the fair was particularly strong. Many publishers introduced new titles and engaged in rights negotiations aimed at broadening their global footprint. Among the most anticipated projects was Let’s Retrace the Silk Roads, a science-themed picture book co-developed by Beijing Step By Step International Publishing Co. Ltd and UNESCO. Through engaging narratives and vivid illustrations, the series brings to life the cultural exchanges, historical transformations, and folklore of the ancient Silk Road.

    “The Silk Road is more than just an ancient trade route; it symbolizes cultural fusion,” said Mehrdad Shabahang, head of the UNESCO Silk Roads Programme. “We hope these stories will help children worldwide appreciate the diversity of civilizations and the value of mutual respect.”

    Fan Liang, chairman of Step By Step Publishing, said the book series has already been translated into five languages and published in multiple countries. Following its debut at Bologna, four more international publishers have expressed interest in acquiring the rights.

    Beyond book exhibitions, the fair continues to serve as a vital platform for industry dialogue. Key topics this year included the so-called “reading crisis,” the impact of artificial intelligence, and the future of sustainable publishing.

    Children’s book markets around the world are grappling with major challenges. According to the Italian Publishers Association (AIE), sales of children’s and young adult books in Italy totaled 258.2 million euros (286.91 million U.S. dollars) in 2024 — a decline for the first time since 2020. The data also showed that 74 percent of Italian children aged 0-14 read fewer than six printed books per year, while four percent do not read at all. Screen time on digital devices now triples the time spent reading.

    In Britain, The Bookseller magazine reported that teen reading frequency has fallen to its lowest level in two decades, as digital entertainment continues to compete for young readers’ attention. At the same time, artificial intelligence is reshaping the publishing landscape, influencing both illustration and production models.

    In response to these trends, Chinese publishers are actively exploring new approaches — from cross-border collaborations to digital innovation. Phoenix Publishing and Media Group set up an independent booth at the fair, presenting key titles such as The Three-Body Problem graphic novel, Moving Dinosaurs pop-up book, and the Loving Bridge picture book series. The company also launched the “Oriental Doll Original Picture Book Award,” inviting global submissions to foster creative exchange.

    On the evening of March 31, China received further recognition as the Bologna Children’s Book Fair awarded the Bologna Prize for Best Children’s Publishers of the Year to Chinese publisher Everafter Books. The honor marks a significant milestone for China’s growing influence in international publishing.

    “China’s publishing industry still has vast potential in global markets,” said Zhang Mingzhou, former president of the International Board on Books for Young People. “To succeed, we must deepen our understanding of global readers and refine our storytelling approaches.”

    Former Italian Ambassador to China Alberto Bradanini underscored the importance of children’s books in promoting intercultural understanding. “Investing in children’s development is investing in the future,” he told Xinhua, adding that Chinese children’s books are playing an increasingly vital role in global cultural exchange. 

    MIL OSI China News –

  • MIL-OSI China: US behind cyberattacks on China during Asian Winter Games

    Source: China State Council Information Office 3

    The United States and its allies were the main source of cyberattacks against China during the ninth Asian Winter Games, a foreign ministry spokesperson said on Thursday, citing a newly released report.

    The report was released by China’s National Computer Virus Emergency Response Center and National Engineering Laboratory for Computer Virus Prevention Technology on Thursday.

    It disclosed that the information systems of competition and critical network infrastructures in Heilongjiang Province, northeast China, were subjected to a large number of network attacks from abroad. The attacks were traced to countries and regions including the United States, the Netherlands, and Singapore.

    “We take note of the report and express serious concerns over the malicious cyber activity it has exposed,” spokesperson Guo Jiakun told a daily news briefing.

    He said that the report once again shows that around the world, China is one of the main victims of cyberattacks.

    China urges the United States to adopt a responsible attitude, reflect on itself and refrain from slandering others, Guo said, adding that China will continue to take necessary measures to protect its own cybersecurity. 

    MIL OSI China News –

  • MIL-OSI Europe: Remarks by President António Costa at the plenary session of the First EU-Central Asia Summit

    Source: Council of the European Union

    In his opening remarks at the first EU-Central Asia summit in Samarkand, European Council President António Costa highlighted the 30-year diplomatic ties between the EU and Central Asia. Marking a new chapter in the relations between the two regions, the summit elevates the EU-Central Asia partnership to a strategic level and President Costa emphasised the need for continued and deeper cooperation to tackle global and regional challenges.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: CMA believes remedies offer in Safran / Collins may address competition concerns

    Source: United Kingdom – Government Statements

    Press release

    CMA believes remedies offer in Safran / Collins may address competition concerns

    CMA considers that undertakings offered by aerospace equipment manufacturer Safran could resolve competition concerns relating to its acquisition of part of aerospace business Collins.

    istock

    The Competition and Markets Authority (CMA) is considering Safran’s offer of undertakings, which includes the sale of substantially all of Safran’s business in the design and production of Trimmable Horizontal Stabilizer Actuator (THSA) systems, to remedy the competition concerns it identified during its Phase 1 investigation.

    Having provisionally found that these undertakings could address the CMA’s concerns, the CMA will now proceed to considering them in more detail, including seeking third party feedback, and if satisfied, will clear the deal.

    THSA is a vital component in commercial aircraft design and allows for movement of the horizontal tail of an aircraft. The tail helps to maintain stability, reduce drag, and keep the aircraft airborne. Whilst aircraft components like THSA are made around the world, Collins maintains a manufacturing presence in the north of the UK.

    Both businesses conceded at an early stage in the CMA’s investigation that the deal raises competition concerns and informed the CMA they would submit undertakings to address these concerns. Since then, the CMA has had constructive, early engagement with the businesses on possible remedies.

    The CMA is concerned the deal – if allowed to proceed without remedies – could increase the cost of THSA components or lower innovation and lead to fewer options available for aircraft manufacturers to choose from. This could, in turn, lead to less innovative products or increased prices for aircraft customers such as airlines and logistics companies should these manufacturers pass the increased costs onto them.

    Naomi Burgoyne, Senior Director for Mergers at the CMA, said:

    From an early stage in our investigation we have engaged with the companies on the proposals they have put forward to resolve competition concerns related to THSA systems used on aircraft.

    THSA systems are an important part of an aircraft’s design. A competitive supply chain ensures those looking to purchase aircraft – be they airlines or logistics firms – have the best options available at the best prices. We’ll need to consider feedback on these undertakings, but our preliminary view is these may resolve our concerns.

    More information can be found here Safran / Collins merger inquiry – GOV.UK

    Notes to editors:

    1. Safran is a company headquartered in Paris, France, and active in the design, manufacture and sale of aerospace equipment. Collins is a US manufacturer of actuation systems in the aerospace industry and maintains a presence in the north of the UK.
    2. The CMA considers that there are reasonable grounds for believing that the undertakings offered by the companies, or a modified version of them, might be accepted by the CMA and is considering the offer. Formal acceptance of the undertakings would result in the CMA clearing the deal under the Enterprise Act 2002.
    3. Safran will retain a small THSA business that is commercially and operationally separate from the primary THSA business to be divested.
    4. For media enquiries, please contact the CMA press office on 0203 738 6460 or press@cma.gov.uk

    Updates to this page

    Published 4 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI: NOTICE OF DIGITALIST GROUP PLC’S ANNUAL GENERAL MEETING

    Source: GlobeNewswire (MIL-OSI)

    Digitalist Group Plc                                                                 4 April 2025 at 09:00

    NOTICE OF DIGITALIST GROUP PLC’S ANNUAL GENERAL MEETING

    Notice is given to the shareholders of Digitalist Group Plc (“Company”) of the Annual General Meeting to be held on Tuesday 29 April 2025 at 4 p.m. at the address Siltasaarenkatu 18-20 C, 00530 Helsinki, Finland. The reception of persons who have registered for the meeting and the distribution of voting tickets will commence at 3.15 p.m. Coffee will be served before the meeting to participants in the meeting.

    A. MATTERS ON THE AGENDA OF THE GENERAL MEETING

    The following matters will be considered at the General Meeting:

    1. Opening of the meeting
    1. Calling the meeting to order
    1. Election of persons to scrutinise the minutes and to supervise the counting of votes
    1. Recording the legality of the meeting
    1. Recording the attendance at the meeting and adoption of the list of votes
    1. Presentation of the financial statements, the report of the Board of Directors and the auditor’s report for 2024
    1. Adoption of the financial statements
    1. Resolution on the use of the loss shown on the balance sheet and on the distribution of assets

    The Board of Directors proposes that the loss EUR −5,520,249.94 indicated by the financial statements for 2024 be recorded in the Company’s profit and loss account, and that no dividend be paid to shareholders for the financial period 2024.

    1. Resolution on the discharge of the members of the Board of Directors and the CEO from liability for the financial period 1 January 2024 to 31 December 2024
    1. Consideration of the remuneration report for governing bodies

    The Board of Directors proposes that the remuneration report for the Company’s governing bodies for 2024 be approved. Pursuant to the Finnish Limited Liability Companies Act, the resolution on the remuneration report is advisory.

    The remuneration report is available on Digitalist Group Plc’s website at https://digitalistgroup.com/agm.

    1. Resolution on the remuneration of the members of the Board of Directors and the grounds for compensation of travel expenses

    The Company’s largest shareholder, Turret Oy Ab, whose total share of the Company’s shares and votes is approximately 48.55 per cent, proposes that the fees paid to the members of the Board of Directors to be elected remain unchanged and would thus be as follows:

    • Chair of the Board: EUR 40,000/year and EUR 500/meeting
    • Deputy Chair of the Board: EUR 30,000/year and EUR 250/meeting
    • Other members of the Board of Directors: EUR 20,000/year and EUR 250/meeting
    • For the meetings of possible Board committees, EUR 500/meeting to the Chair and EUR 250/meeting to a member

    It is proposed that travel expenses be reimbursed in accordance with the Company’s regulations concerning travel reimbursements.

    1. Resolution on the number of Members of the Board of Directors

    According to the Articles of Association, the Company’s Board of Directors shall have at least five (5) and at most nine (9) members.

    The Company does not have a Nomination Committee. The Company’s largest shareholder Turret Oy Ab, whose total share of the Company’s shares and votes is approximately 48.55 per cent, proposes that six (6) ordinary members be elected to the Board of Directors.

    1. Election of the Members of the Board of Directors

    The Company does not have a Nomination Committee. The Company’s largest shareholder Turret Oy Ab, whose total share of the Company’s shares and votes is approximately 48.55 per cent, proposes that the current members of the Company’s Board of Directors, Paul Ehrnrooth, Andreas Rosenlew, Esa Matikainen, Peter Eriksson, Johan Almquist and Magnus Wetter be re-elected as members of the Board.

    More detailed personal information and the evaluation of the independence of the proposed members of the Board are available on the Company’s website at https://investor.digitalistgroup.com/fi/investor/governance/board-of-directors. If the proposal is accepted, the Company would not follow the recommendation number 8 of the Securities Market Association’s Finnish Corporate Governance Code 2020 applicable during the transition period, which states that the board must include both genders, with the rationale being overall consideration.

    1. Resolution on the remuneration of the auditor

    The Board of Directors proposes that remuneration for the auditor be paid against the auditor’s invoice approved by the Company.

    1. Election of the auditor

    The Board of Directors proposes that KPMG Oy Ab, who have named Authorized Public Accountant Miika Karkulahti as the principal auditor, be re-elected as the Company’s auditor.

    1. Authorisation of the Board of Directors to decide on share issues and on granting special rights entitling to shares

    The Board of Directors proposes that the General Meeting authorise the Board to decide on a paid share issue and on granting option rights and other special rights entitling to shares that are set out in Chapter 10 Section 1 of the Finnish Limited Liability Companies Act, or on the combination of all or some of the aforementioned instruments in one or more tranches on the following terms and conditions:

    The total number of the Company’s treasury shares and new shares to be issued under the authorisation may not exceed 346,715,227, which corresponds to approximately 50 per cent of all the Company’s shares at the time of convening the Annual General Meeting.

    Within the limits of the aforementioned authorisation, the Board of Directors may decide on all terms and conditions applied to the share issue and to the special rights entitling to shares, such as that the payment of the subscription price may take place not only by cash but also by setting off receivables that the subscriber has from the Company.

    The Board of Directors shall be entitled to decide on crediting the subscription price either to the Company’s share capital or, entirely or in part, to the invested unrestricted equity fund.

    The share issue and the issuance of special rights entitling to shares may also take place in a directed manner in deviation from the pre-emptive rights of shareholders if there is a weighty financial reason for the Company to do so, as set out the Limited Liability Companies Act. In such a case, the authorisation may be used to finance corporate acquisitions or other investments related to the operations of the Company as well as to maintain and improve the solvency of the Group and to carry out an incentive scheme.

    The authorisation is proposed to be effective until the Annual General Meeting held in 2026, yet no further than until 30 June 2026.

    The decision concerning the authorisation requires a qualified majority of at least two thirds of the votes cast and shares represented at the meeting.

    1. Authorising the Board of Directors to decide on the acquisition and/or on the acceptance as pledge of the Company’s treasury shares

    The Board of Directors proposes that the Annual General Meeting authorise the Board to decide on acquiring or accepting as pledge, using the Company’s distributable funds, a maximum of 69,343,000 treasury shares, which corresponds to approximately 10 per cent of the Company’s total shares at the time of convening the Annual General Meeting. The acquisition may take place in one or more tranches. The acquisition price shall not exceed the highest market price of the share in public trading at the time of the acquisition.

    In executing the acquisition of treasury shares, the Company may enter into derivative, share lending or other contracts customary in the capital market, within the limits set out in laws and regulations. The authorisation entitles the Board to decide on an acquisition in a manner other than in a proportion to the shares held by the shareholders (directed acquisition).

    The Company may acquire the shares to execute corporate acquisitions or other business arrangements related to the Company’s operations, to improve its capital structure, or to otherwise further transfer the shares or cancel them.

    The authorisation is proposed to include the right for the Board of Directors to decide on all other matters related to the acquisition of shares. The authorisation is proposed to be effective until the Annual General Meeting held in 2026, yet no further than until 30 June 2026.

    The decision concerning the authorisation requires a qualified majority of at least two thirds of the votes cast and shares represented at the meeting.

    1. Resolution on possible measures for improving the Company’s financial situation

    According to Chapter 20 Section 23(3) of the Limited Liability Companies Act, if the Board of Directors of a public limited company notices that the company’s equity is less than half of the share capital, the Board of Directors shall, without delay, draw up financial statements and the report of the Board of Directors to ascertain the financial position of the company. If, according to the balance sheet, the equity of the company is less than half of the share capital, the Board of Directors shall, without delay, convene a general meeting to consider measures to remedy the financial position of the company.

    According to section 7 of the notice of the General Meeting, the financial statements for the financial period 1 January 2024-31 December 2024 to be presented to the General Meeting show that the Company’s equity is less than half of the Company’s share capital provided that subordinated capital loans are disregarded in the assessment.

    From the Report of the Board of Directors in the financial statements of the Company appears the conversion of the entire principal and interest of Convertible Bonds 2021/1, 2021/2, 2021/3 and 2021/4, announced by the Company on 30 December 2024, into subordinated loans in accordance with Chapter 12 of the Limited Liability Companies Act, measures that have supported and will continue to support the Company’s balance sheet and solvency.

    The Board of Directors of the Company does not immediately propose any other measures to remedy the Company’s financial position, but the Company actively evaluates other possibilities and means to support the Company’s financial position.

    1. Closing of the Meeting

    B. DOCUMENTS OF THE GENERAL MEETING

    The following documents will be made available to the shareholders on Digitalist Group Plc’s website at https://digitalistgroup.com/agm no later than three weeks prior to the General Meeting: the aforementioned proposals on the agenda for the meeting, Digitalist Group Plc’s financial statements, the report of the Board of Directors, the auditor’s report, the remuneration report for 2024 and this notice. The said documents will also be available at the General Meeting. In addition, copies of the said documents and of this notice will be mailed to shareholders on request. Otherwise, no separate notice of the General Meeting will be sent to the shareholders. The minutes of the General Meeting will be available on the above-mentioned website at the latest on 13 May 2025.

    C. INSTRUCTIONS FOR THE PARTICIPANTS IN THE GENERAL MEETING

    1. Right to participate and registration

    Shareholders who are on the record date of the General Meeting, 15 April 2025, registered in the Company’s shareholders’ register, maintained by Euroclear Finland Ltd, are entitled to attend the meeting. Shareholders whose shares are registered on their personal Finnish book-entry accounts are registered in the shareholders’ register of the Company.

    Shareholders who wish to attend the General Meeting must give advance notice of their attendance, and the Company must receive such notice, no later than by 4 p.m. on 24 April 2025. Registration for the General Meeting takes place:

    1. Via Company’s website at https://digitalistgroup.com/agm in accordance with the instructions provided therein;
    2. by email to yhtiokokous@digitalistgroup.com;
    3. by mail to Digitalist Group Plc/General Meeting, Siltasaarenkatu 18-20, 00530 Helsinki, Finland;
    4. by telephone between 9:00 and 16:00 to Aila Mettälä at +358 40 531 0678;

    When giving an advance notice of attendance, please state the shareholder’s name, date of birth / business ID, address, telephone number and the name of any assistant or proxy representative and date of birth of the proxy representative. Personal data provided to the Company by its shareholders is used only in connection with the General Meeting and with processing the necessary registrations related to the meeting.

    1. Proxy representative and proxy documents

    A shareholder may participate in the General Meeting, and exercise their rights at the General Meeting, by way of proxy representation.

    The shareholder’s proxy representative must produce a dated proxy document or otherwise in a reliable manner demonstrate their right to represent the shareholder. If a shareholder participates in the General Meeting through several proxy representatives representing the shareholder with shares on different securities accounts, the shares by which each proxy representative represents the shareholder shall be identified in connection with the registration for the General Meeting.

    Please furnish the Company with any proxy documents as an email attachment (e.g. in PDF) or by mail, using the above-mentioned contact information for registration, before the last date for registration. In addition to submitting proxy documents, shareholders or their proxy representatives must ensure that they have registered for the General Meeting in the manner described above in this notice.

    Shareholders can also use the electronic Suomi.fi authorization service instead of a traditional proxy document. In this case, the shareholder authorizes a proxy that he/she/it nominates in the Suomi.fi authorization service on the website suomi.fi/e-authorizations (using the mandate theme “Representation at the General Meeting”). In connection with the General Meeting service, any person so authorized must identify themselves with strong electronic identification in connection with the registration, after which the electronic authorization will be checked automatically. Strong electronic identification works with online banking credentials or Mobile ID. More information on the electronic authorization service is available on the website suomi.fi/e-authorizations.

    1. Holders of nominee-registered shares

    A holder of nominee registered shares has the right to participate in the General Meeting by virtue of such shares based on which they would be entitled to be registered in the shareholders’ register of the Company, maintained by Euroclear Finland Ltd, on 15 April 2025.

    Holders of nominee-registered shares are advised to contact their asset managers for information on how to enter the shareholders’ register, on the issuance of proxies and on submitting their notice of attendance in the General Meeting well before the meeting. The account management organisation of the custodian bank must register any holder of nominee-registered shares who wishes to participate in the General Meeting into the temporary shareholders’ register of the Company by 10 a.m. on 24 April 2025 at the latest.

    1. Other instructions and information

    The language of the meeting is mainly Finnish.

    Pursuant to Chapter 5 Section 25 of the Finnish Limited Liability Companies Act, a shareholder who is present at the General Meeting has the right to request information with respect to the matters to be considered at the meeting.

    Changes in shareholding after the record date of the General Meeting will not affect the right to participate in the General Meeting or the number of voting rights held by a shareholder in the meeting.

    On the date of this notice of the General Meeting the total number of shares in Digitalist Group Plc, and votes represented by such shares, is 693,430,455.

    In Helsinki on 4 April 2025

    DIGITALIST GROUP PLC
    Board of Directors

    For further information, please contact:

    CEO Magnus Leijonborg, tel. +46 76 315 8422, magnus.leijonborg@digitalistgroup.com

    Chair of the Board: Esa Matikainen, tel. +358 40 506 0080, esa.matikainen@digitalistgroup.com

    Distribution:

    Nasdaq Helsinki Ltd
    Main media
    https://digitalist.global

    The MIL Network –

  • MIL-OSI: Subsea7 awarded contract in the US

    Source: GlobeNewswire (MIL-OSI)

    Luxembourg – 4 April 2025 – Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) announced today the award of a sizeable1 contract by Shell Offshore Inc. for the Sparta deepwater development in the US.

    The project involves the transportation and installation of a floating production system (FPS) at Garden Banks block 959, which is located off the southeastern coast of Louisiana at water depths of up to 1,635 metres. 

    Project management and engineering activities will begin immediately at Subsea7’s office in Houston, Texas, with offshore operations expected to start in 2027.

    Craig Broussard, Senior Vice President for Subsea7 Gulf of Mexico, said, “We are proud to continue our collaboration with Shell in the US, building on past projects, including the recent Vito development. We look forward to playing a key role in the successful delivery of the Sparta project.” 

    1. Subsea7 defines a sizeable contract as being between $50 million and $150 million.

    *******************************************************************************
    Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.

    Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.

    *******************************************************************************

    Contact for investment community enquiries:
    Katherine Tonks
    Investor Relations Director
    Tel +44 20 8210 5568
    ir@subsea7.com

    Contact for media enquiries:
    Ashley Shearer
    Communications Manager
    Tel +1 713 300 6792
    ashley.shearer@subsea7.com

    Forward-Looking Statements: This document may contain ‘forward-looking statements’ (within the meaning of the safe harbour provisions of the U.S. Private Securities Litigation Reform Act of 1995). These statements relate to our current expectations, beliefs, intentions, assumptions or strategies regarding the future and are subject to known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements may be identified by the use of words such as ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘future’, ‘goal’, ‘intend’, ‘likely’ ‘may’, ‘plan’, ‘project’, ‘seek’, ‘should’, ‘strategy’ ‘will’, and similar expressions. The principal risks which could affect future operations of the Group are described in the ‘Risk Management’ section of the Group’s Annual Report and Consolidated Financial Statements. Factors that may cause actual and future results and trends to differ materially from our forward-looking statements include (but are not limited to): (i) our ability to deliver fixed price projects in accordance with client expectations and within the parameters of our bids, and to avoid cost overruns; (ii) our ability to collect receivables, negotiate variation orders and collect the related revenue; (iii) our ability to recover costs on significant projects; (iv) capital expenditure by oil and gas companies, which is affected by fluctuations in the price of, and demand for, crude oil and natural gas; (v) unanticipated delays or cancellation of projects included in our backlog; (vi) competition and price fluctuations in the markets and businesses in which we operate; (vii) the loss of, or deterioration in our relationship with, any significant clients; (viii) the outcome of legal proceedings or governmental inquiries; (ix) uncertainties inherent in operating internationally, including economic, political and social instability, boycotts or embargoes, labour unrest, changes in foreign governmental regulations, corruption and currency fluctuations; (x) the effects of a pandemic or epidemic or a natural disaster; (xi) liability to third parties for the failure of our joint venture partners to fulfil their obligations; (xii) changes in, or our failure to comply with, applicable laws and regulations (including regulatory measures addressing climate change); (xiii) operating hazards, including spills, environmental damage, personal or property damage and business interruptions caused by adverse weather; (xiv) equipment or mechanical failures, which could increase costs, impair revenue and result in penalties for failure to meet project completion requirements; (xv) the timely delivery of vessels on order and the timely completion of ship conversion programmes; (xvi) our ability to keep pace with technological changes and the impact of potential information technology, cyber security or data security breaches; (xvii) global availability at scale and commercially viability of suitable alternative vessel fuels; and (xviii) the effectiveness of our disclosure controls and procedures and internal control over financial reporting. Many of these factors are beyond our ability to control or predict. Given these uncertainties, you should not place undue reliance on the forward-looking statements. Each forward-looking statement speaks only as of the date of this document. We undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 4 April 2025 at 08:00 CET.

    Attachment

    The MIL Network –