Category: Latin America

MIL-OSI Security: Will Thompson Concludes His Service as United States Attorney

Source: Office of United States Attorneys

CHARLESTON, W.Va. – Will Thompson announced today that he has concluded his tenure as the United States Attorney for the Southern District of West Virginia, effective immediately.

“Serving as the United States Attorney has genuinely been a career highlight,” Thompson said. “Thinking that a boy who grew up in Boone County, West Virginia, would be able to serve his country in such a prestigious and vital role leaves me in awe. I am proud of the office’s work under my leadership and that my team has strengthened its relationship and reputation with our federal, state, and local law enforcement partners, as well as with the judiciary and general public.”

Thompson was nominated by President Joseph R. Biden, Jr., on August 10, 2021. The United States Senate confirmed Thompson by voice vote on October 5, 2021. After taking his oath of office on October 13, 2021, Thompson led an office of 34 attorneys and 41 non-attorney personnel located in offices in Charleston, Huntington, and Beckley.

Thompson appreciates the role that former Senator Joe Manchin played in securing his nomination from President Biden, and the role that Manchin and Senator Shelley Moore Capito played in getting him confirmed by the United States Senate. Thompson also appreciates the relationships he built and strengthened with state officials and the district’s state prosecutors, sheriffs, and chiefs of police.

Thompson commends the Assistant United States Attorneys and support personnel who served with him. He appreciates the career people who there when he entered the office and the employees he hired during his tenure.

“The people of this office are the true backbone of federal prosecution and representation in this district,” Thompson said. “They all serve with dignity and respect for the rule of law. They are vital to the mission of the Department of Justice, which is to keep our communities safe.”

Thompson is most proud of three accomplishments while he was in office. The first is the significant decline in overdose deaths. He attributes that to his office’s change of strategy from targeting street-level drug dealers to mid- and upper-level drug distributors. This strategy has removed hundreds of pounds of this poison from communities throughout the district. His office has disrupted supply chains of fentanyl that were coming directly into the district from China and methamphetamine that was coming directly from the cartels in Mexico. As part of his plan to lower the overdose rates, Thompson also championed prevention and treatment opportunities across the district.

Thompson is also proud of his work in reducing violent crime and overall crime in the district. Thompson attributes this reduction to several factors. He improved communications and relationships with the office’s law enforcement partners. Thompson also worked with state and local partners to obtain federal grants to give them more resources to their jobs more. Finally, given that the majority of crimes in West Virginia are connected to the drug trade, the office’s revised strategy has helped reduce the crime rate.

The third accomplishment that Thompson is proud of is using his skills as a former trial court judge to instigate a vigorous review process of cases to ensure there were no evidentiary issues. Thompson met with law enforcement partners throughout the district and informed them of this new review process. He had his office work more closely with the officers to address the issues, assist with writing search warrants, and help with other search and seizure issues.

As United States Attorney, Thompson was the chief federal law enforcement officer in the southern half of West Virginia. The office is responsible for prosecuting federal crimes in the district, including crimes related to terrorism, public corruption, child exploitation, firearms, and narcotics. The office also defends the United States in civil cases and collects debts owed to the United States.

The results of the revised approach to drug cases under Thompson include Operation Smoke and Mirrors, which dismantled a high-volume drug trafficking organization (DTO) that operated in the Charleston area and yielded the largest methamphetamine seizure in West Virginia history.

Following the trail of methamphetamine in West Virginia back to Los Angeles, California, and the U.S. southern border, investigators seized well over 400 pounds of methamphetamine, 40 pounds of cocaine, 3 pounds of fentanyl, 19 firearms, and $935,000 in cash. The DTO was directly involved in price fixing in the methamphetamine trade by raising the price of methamphetamine coming into the United States from Mexico based on fluctuations in the currency conversion rate.

Four separate indictments led to the convictions of 31 defendants, including the DTO’s in-state leaders and California-based suppliers. Over 20 defendants have been sentenced to prison, including eight to terms of more than 10 years. Three low-level defendants were referred to the Alternative Treatment Court (ATC). Thompson also supported the ATC program, which provides a blend of treatment that focuses on drug and mental health treatment, and alternative sanctions to effectively address offender behavior, rehabilitation, and education and job skills training.

Thompson also led the prosecution of a Kanawha County man who was sentenced to 14 years in prison for possession with the intent to distribute fentanyl. The defendant set up a workshop in a rented St. Albans apartment were he made fake 30-milligram oxycodone pills. The defendant admitted that the fentanyl came from a source outside the United States and that the pill press came from China. Investigators seized over 10,000 pills and nearly $80,000 in this case.

Thompson’s office also obtained guilty verdicts against a Logan County physician for four counts of distribution of a controlled substance. The defendant had previously pleaded guilty to using a registration number in violation of federal law and engaging in monetary transactions in property derived from specified unlawful activity. His medical license and office are subject to forfeit to the government as a result of the latest convictions.

The office under Thompson also secured convictions against the majority of the defendants in prosecutions that dismantled a Huntington-area DTO responsible for distributing large quantities of methamphetamine and fentanyl and a Beckley-area DTO that distributed methamphetamine, fentanyl, and cocaine base, also known as “crack.”

While having the utmost respect for law enforcement officers, Thompson had zero tolerance for officers who break the law and violate people’s civil rights. In what Thompson considered the most critical civil rights case during his tenure, he personally participated in the investigation and prosecution of eight former West Virginia correctional officers who were charged and convicted in connection with a March 1, 2022, assault that resulted in the death of a Southern Regional Jail inmate and the subsequent cover-up. After four days of trial, the final defendant was found guilty on January 27, 2025.

A former Fayette County law enforcement officer was sentenced to 25 years in prison, to be followed by 10 years of supervised release, and ordered to pay $80,000 in restitution for sex trafficking a 17-year-old minor female and obstructing the resulting investigation. Following four days of trial, a federal jury found the defendant guilty on April 28, 2023, of conspiracy to engage in sex trafficking of a minor via coercion, sex trafficking of a minor via coercion, and two counts of obstruction of justice.

A former Nicholas County deputy sheriff was convicted of the production of child pornography and sentenced to 20 years in prison. The defendant took two videos of the child victim, who was under the age of 12 and was sleeping on a couch. In the first video, he walked toward her and zoomed in on her buttocks. In the second video, he recorded his exposed penis and him masturbating near the sleeping girl. He then used Snapchat to distribute the videos to multiple users. When Snapchat shut down his account, he created another Snapchat account to distribute child pornography.

A former Logan police officer was sentenced to nine years in prison after a jury convicted him of using excessive force against an arrestee. At the trial, the jury heard evidence that he assaulted the victim in a bathroom, then dragged him into another room and rammed his head against a door frame, leaving the victim unconscious and lying in a pool of his own blood.

The office successfully prosecuted 18 individuals in connection with a scheme to traffic over 140 firearms from southern West Virginia to Philadelphia, Pennsylvania. Over 50 of the firearms were recovered at crime scenes, primarily in Philadelphia, and were connected to two homicides, crimes of domestic violence, and other violent offenses. The ringleader was sentenced to 25 years in prison, to be followed by three years of supervised release.

The Southern District of West Virginia became a national leader in prosecuting bankruptcy fraud under Thompson’s leadership. Among those cases, a Charleston developer was sentenced to one year and one day in prison, followed by three years of supervised release, and ordered to pay $730,326.43 in restitution for falsifying bankruptcy records. The former chief executive officer of the entity that operated the West Virginia Courtesy Patrol was sentenced to five years of federal probation and ordered to pay $205,802.49 for fraudulent receipt of property from a debtor. A Putnam County man was sentenced to 30 days in prison to be followed by three years of supervised release, including five months on home detention, and ordered to pay $24,662.56 in restitution for knowingly and fraudulently making a false declaration in a bankruptcy case.

The office successfully prosecuted other forms of white-collar crime under Thompson. A Kentucky businessman pleaded guilty on behalf of himself and two limited liability companies for their roles in the January 2018 discharge of oil into the Big Sandy River. The defendants were sentenced to terms of probation and also ordered to pay $1,856,957.92 in restitution. The LLC defendants cannot conduct or operate any business during their five-year terms of corporate probation.

Nine defendants were convicted in connection with multiple internet-based fraud schemes operated in the Huntington area that defrauded hundreds of individuals across the country. The schemes defrauded at least 200 victims, many of whom are elderly, of at least $2.5 million. The final convicted defendant was sentenced to one year and one day in prison, followed by three years of supervised release, ordered to pay $904,126.96 in restitution, and participated in a digital awareness campaign to alert West Virginians to online fraud scams.

The office also secured 20 convictions related to COVID-19 benefits fraud under Thompson, with court-ordered restitution and a civil penalty in these cases exceeding $1,330,000.

Under Thompson’s leadership, the office secured a 15-count indictment charging a Kanawha County man with wire fraud, money laundering, and obstruction. The indictment alleges the defendant conceived and carried out two real estate-related investment fraud schemes that caused losses of between $395,000 and $434,501.42. The defendant’s mother pleaded guilty late last year to aiding and abetting the sale and offer of unregistered securities as a result of the investigation in this case.

The office also secured an 18-count indictment charging the former maintenance director for Boone County Schools with mail fraud, conspiracy to commit mail fraud, theft concerning programs receiving federal funds, and money laundering. The indictment alleges the defendant used his position to defraud the Boone County Board of Education out of approximately $3,400,000. To date, three other individuals have been charged as a result of this investigation.

An indictment is merely an allegation and all defendants are presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.

Before taking office as United States Attorney, Thompson was a Circuit Court Judge in West Virginia’s 25th Judicial Circuit. He was appointed to that position in 2007 and re-elected in 2008 and 2016. Thompson presided over several treatment courts, including the first family treatment court in West Virginia. Before becoming a Circuit Court Judge, Thompson practiced law at the Cook and Cook law firm in Boone County. There, he focused on litigation, which included representing several hundred indigent clients in criminal defense and other matters. Thompson also previously served as President of Madison Healthcare, Inc. and as Vice President of Danville Lumber Company.

Thompson was born in Charleston and raised in Boone County, West Virginia. He earned a degree in civil engineering from West Virginia University and a law degree from West Virginia University College of Law.

A copy of this press release is located on the website of the U.S. Attorney’s Office for the Southern District of West Virginia.

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MIL Security OSI –

February 19, 2025

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

Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

Fourth Quarter 2024 Highlights

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

Year Ended December 31, 2024

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

Key Financial Metrics

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


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

(1)

Core underwriting income, Core net services income, Core income and Core combined ratio are non-GAAP financial measures. See definitions in “Non-GAAP Financial Measures” and reconciliations in “Segment Reporting.” Book value per diluted common share ex. AOCI and tangible book value per diluted common share are non-GAAP financial measures. See definition and reconciliation in “Non-GAAP Financial Measures.”

Fourth Quarter 2024 Summary

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

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

Reportable Segments

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

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

Three months ended December 31, 2024 and 2023

Core Premium Volume

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

Core Results

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

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

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

Year ended December 31, 2024 and 2023

Core Premium Volume

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

Core Results

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

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

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

Reinsurance Segment

Three months ended December 31, 2024 and 2023

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

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

Year ended December 31, 2024 and 2023

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

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

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

Insurance & Services Segment

Three months ended December 31, 2024 and 2023

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

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

Year ended December 31, 2024 and 2023

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

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

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

Investments

Three months ended December 31, 2024 and 2023

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

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

Year ended December 31, 2024 and 2023

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

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

Webcast Details

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

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

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

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

Non-GAAP Financial Measures and Other Financial Metrics

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

About the Company

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

Contacts

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

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


SIRIUSPOINT LTD. CONSOLIDATED BALANCE SHEETS (UNAUDITED) As of December 31, 2024 and December 31, 2023 (expressed in millions of U.S. dollars, except per share and share amounts)

	December 31, 2024			December 31, 2023
Assets
Debt securities, available for sale, at fair value, net of allowance for credit losses of $1.1 (2023 – $0.0) (cost – $5,143.8; 2023 – $4,754.6)	$	5,131.0		$	4,755.4
Debt securities, trading, at fair value (cost – $187.3; 2023 – $568.1)		162.2			534.9
Short-term investments, at fair value (cost – $95.3; 2023 – $370.8)		95.8			371.6
Investments in related party investment funds, at fair value		116.5			105.6
Other long-term investments, at fair value (cost – $317.8; 2023 – $358.1) (includes related party investments at fair value of $100.7 (2023 – $173.7))		200.0			310.1
Total investments		5,705.5			6,077.6
Cash and cash equivalents		682.0			969.2
Restricted cash and cash equivalents		212.6			132.1
Redemption receivable from related party investment fund		—			3.0
Due from brokers		11.2			5.6
Interest and dividends receivable		44.0			42.3
Insurance and reinsurance balances receivable, net		2,054.4			1,966.3
Deferred acquisition costs, net		327.5			308.9
Unearned premiums ceded		463.9			449.2
Loss and loss adjustment expenses recoverable, net		2,315.3			2,295.1
Deferred tax asset		297.0			293.6
Intangible assets		140.8			152.7
Other assets		270.7			175.9
Total assets	$	12,524.9		$	12,871.5
Liabilities
Loss and loss adjustment expense reserves	$	5,653.9		$	5,608.1
Unearned premium reserves		1,639.2			1,627.3
Reinsurance balances payable		1,781.6			1,736.7
Deposit liabilities		17.4			134.4
Deferred gain on retroactive reinsurance		8.5			27.9
Debt		639.1			786.2
Due to brokers		18.0			6.2
Deferred tax liability		76.2			68.7
Liability-classified capital instruments		—			67.3
Share repurchase liability		483.0			—
Accounts payable, accrued expenses and other liabilities		269.2			278.1
Total liabilities		10,586.1			10,340.9
Commitments and contingent liabilities
Shareholders’ equity
Series B preference shares (par value $0.10; authorized and issued: 8,000,000)		200.0			200.0
Common shares (issued and outstanding: 116,429,057; 2023 – 168,120,022)		11.6			16.8
Additional paid-in capital		945.0			1,693.0
Retained earnings		784.9			601.0
Accumulated other comprehensive income (loss), net of tax		(4.1	)		3.1
Shareholders’ equity attributable to SiriusPoint shareholders		1,937.4			2,513.9
Noncontrolling interests		1.4			16.7
Total shareholders’ equity		1,938.8			2,530.6
Total liabilities, noncontrolling interests and shareholders’ equity	$	12,524.9		$	12,871.5

SIRIUSPOINT LTD. CONSOLIDATED STATEMENTS OF INCOME (LOSS) (UNAUDITED) For the three and twelve months ended December 31, 2024 and 2023 (expressed in millions of U.S. dollars, except per share and share amounts)

	Three months ended						Twelve months ended
	December 31, 2024			December 31, 2023			December 31, 2024			December 31, 2023
Revenues
Net premiums earned	$	590.3		$	578.0		$	2,343.5		$	2,426.2
Net investment income		68.9			78.4			303.6			283.7
Net realized and unrealized investment losses		(40.7	)		(12.4	)		(88.7	)		(10.0	)
Net realized and unrealized investment gains (losses) from related party investment funds		0.8			(1.0	)		9.7			(1.0	)
Net investment income and net realized and unrealized investment gains (losses)		29.0			65.0			224.6			272.7
Other revenues		19.4			17.8			184.2			97.8
Loss on settlement and change in fair value of liability-classified capital instruments		(25.9	)		(15.0	)		(148.5	)		(59.4	)
Total revenues		612.8			645.8			2,603.8			2,737.3
Expenses
Loss and loss adjustment expenses incurred, net		369.1			365.4			1,368.5			1,381.3
Acquisition costs, net		134.6			111.7			516.9			472.7
Other underwriting expenses		53.9			64.2			181.7			196.3
Net corporate and other expenses		58.1			64.5			232.1			258.2
Intangible asset amortization		3.0			2.9			11.9			11.1
Interest expense		19.6			19.8			69.6			64.1
Foreign exchange (gains) losses		(12.9	)		19.2			(10.0	)		34.9
Total expenses		625.4			647.7			2,370.7			2,418.6
Income (loss) before income tax (expense) benefit		(12.6	)		(1.9	)		233.1			318.7
Income tax (expense) benefit		(4.4	)		101.6			(30.7	)		45.0
Net income (loss)		(17.0	)		99.7			202.4			363.7
Net income attributable to noncontrolling interests		(0.3	)		(2.2	)		(2.5	)		(8.9	)
Net income (loss) available to SiriusPoint		(17.3	)		97.5			199.9			354.8
Dividends on Series B preference shares		(4.0	)		(4.0	)		(16.0	)		(16.0	)
Net income (loss) available to SiriusPoint common shareholders	$	(21.3	)	$	93.5		$	183.9		$	338.8
Earnings (loss) per share available to SiriusPoint common shareholders
Basic earnings (loss) per share available to SiriusPoint common shareholders	$	(0.13	)	$	0.52		$	1.06		$	1.93
Diluted earnings (loss) per share available to SiriusPoint common shareholders	$	(0.13	)	$	0.50		$	1.04		$	1.85
Weighted average number of common shares used in the determination of earnings (loss) per share
Basic		161,378,360			166,640,624			166,537,394			163,341,448
Diluted		161,378,360			173,609,940			169,470,681			169,607,348

SIRIUSPOINT LTD. SEGMENT REPORTING

	Three months ended December 31, 2024
	Reinsurance			Insurance & Services			Core			Eliminations ⁽²⁾			Corporate			Segment Measure Reclass			Total
Gross premiums written	$	312.2		$	450.3		$	762.5		$	—		$	(3.0	)	$	—		$	759.5
Net premiums written		237.5			322.7			560.2			—			4.8			—			565.0
Net premiums earned		265.9			315.7			581.6			—			8.7			—			590.3
Loss and loss adjustment expenses incurred, net		148.3			175.3			323.6			(1.4	)		46.9			—			369.1
Acquisition costs, net		73.1			77.8			150.9			(27.6	)		11.3			—			134.6
Other underwriting expenses		26.2			24.6			50.8			—			3.1			—			53.9
Underwriting income (loss)		18.3			38.0			56.3			29.0			(52.6	)		—			32.7
Services revenues		—			51.6			51.6			(31.4	)		—			(20.2	)		—
Services expenses		—			41.2			41.2			—			—			(41.2	)		—
Net services income		—			10.4			10.4			(31.4	)		—			21.0			—
Segment income (loss)		18.3			48.4			66.7			(2.4	)		(52.6	)		21.0			32.7
Net investment income														68.9			—			68.9
Net realized and unrealized investment losses														(40.7	)		—			(40.7	)
Net realized and unrealized investment gains from related party investment funds														0.8			—			0.8
Other revenues														(0.8	)		20.2			19.4
Loss on settlement and change in fair value of liability-classified capital instruments														(25.9	)		—			(25.9	)
Net corporate and other expenses														(16.9	)		(41.2	)		(58.1	)
Intangible asset amortization														(3.0	)		—			(3.0	)
Interest expense														(19.6	)		—			(19.6	)
Foreign exchange gains														12.9			—			12.9
Income (loss) before income tax expense	$	18.3		$	48.4			66.7			(2.4	)		(76.9	)		—			(12.6	)
Income tax expense								—			—			(4.4	)		—			(4.4	)
Net income (loss)								66.7			(2.4	)		(81.3	)		—			(17.0	)
Net income attributable to noncontrolling interest								—			—			(0.3	)		—			(0.3	)
Net income (loss) available to SiriusPoint							$	66.7		$	(2.4	)	$	(81.6	)	$	—		$	(17.3	)

Attritional losses	$	154.9		$	188.2		$	343.1		$	(1.4	)	$	26.1		$	—		$	367.8
Catastrophe losses		35.2			3.4			38.6			—			—			—			38.6
Prior year loss reserve development		(41.8	)		(16.3	)		(58.1	)		—			20.8			—			(37.3	)
Loss and loss adjustment expenses incurred, net	$	148.3		$	175.3		$	323.6		$	(1.4	)	$	46.9		$	—		$	369.1

Underwriting Ratios: ⁽¹⁾
Attritional loss ratio		58.3	%		59.6	%		59.0	%											62.3	%
Catastrophe loss ratio		13.2	%		1.1	%		6.6	%											6.5	%
Prior year loss development ratio	(15.7		)%	(5.2		)%	(10.0		)%										(6.3		)%
Loss ratio		55.8	%		55.5	%		55.6	%											62.5	%
Acquisition cost ratio		27.5	%		24.6	%		25.9	%											22.8	%
Other underwriting expenses ratio		9.9	%		7.8	%		8.7	%											9.1	%
Combined ratio		93.2	%		87.9	%		90.2	%											94.4	%

(1)	Underwriting ratios are calculated by dividing the related expense by net premiums earned.
(2)	Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.

	Three months ended December 31, 2023
	Reinsurance			Insurance & Services			Core			Eliminations ⁽²⁾			Corporate			Segment Measure Reclass			Total
Gross premiums written	$	251.7		$	468.1		$	719.8		$	—		$	(4.2	)	$	—		$	715.6
Net premiums written		194.9			263.3			458.2			—			(3.6	)		—			454.6
Net premiums earned		243.2			315.2			558.4			—			19.6			—			578.0
Loss and loss adjustment expenses incurred, net		121.8			206.6			328.4			(1.4	)		38.4			—			365.4
Acquisition costs, net		65.5			66.8			132.3			(31.6	)		11.0			—			111.7
Other underwriting expenses		28.1			32.6			60.7			—			3.5			—			64.2
Underwriting income (loss)		27.8			9.2			37.0			33.0			(33.3	)		—			36.7
Services revenues		1.7			54.0			55.7			(40.0	)		—			(15.7	)		—
Services expenses		—			43.6			43.6			—			—			(43.6	)		—
Net services fee income		1.7			10.4			12.1			(40.0	)		—			27.9			—
Services noncontrolling income		—			(2.8	)		(2.8	)		—			—			2.8			—
Net services income		1.7			7.6			9.3			(40.0	)		—			30.7			—
Segment income (loss)		29.5			16.8			46.3			(7.0	)		(33.3	)		30.7			36.7
Net investment income														78.4			—			78.4
Net realized and unrealized investment losses														(12.4	)		—			(12.4	)
Net realized and unrealized investment losses from related party investment funds														(1.0	)		—			(1.0	)
Other revenues														2.1			15.7			17.8
Loss on settlement and change in fair value of liability-classified capital instruments														(15.0	)		—			(15.0	)
Net corporate and other expenses														(20.9	)		(43.6	)		(64.5	)
Intangible asset amortization														(2.9	)		—			(2.9	)
Interest expense														(19.8	)		—			(19.8	)
Foreign exchange losses														(19.2	)		—			(19.2	)
Income (loss) before income tax benefit	$	29.5		$	16.8			46.3			(7.0	)		(44.0	)		2.8			(1.9	)
Income tax benefit								—			—			101.6			—			101.6
Net income								46.3			(7.0	)		57.6			2.8			99.7
Net (income) loss attributable to noncontrolling interest								—			—			0.6			(2.8	)		(2.2	)
Net income available to SiriusPoint							$	46.3		$	(7.0	)	$	58.2		$	—		$	97.5

Attritional losses	$	143.5		$	222.8		$	366.3		$	(1.4	)	$	11.7		$	—		$	376.6
Catastrophe losses		(0.6	)		0.4			(0.2	)		—			0.1			—			(0.1	)
Prior year loss reserve development		(21.1	)		(16.6	)		(37.7	)		—			26.6			—			(11.1	)
Loss and loss adjustment expenses incurred, net	$	121.8		$	206.6		$	328.4		$	(1.4	)	$	38.4		$	—		$	365.4

Underwriting Ratios: ⁽¹⁾
Attritional loss ratio		59.0	%		70.7	%		65.6	%											65.2	%
Catastrophe loss ratio	(0.2		)%		0.1	%		—	%											—	%
Prior year loss development ratio	(8.7		)%	(5.3		)%	(6.8		)%										(1.9		)%
Loss ratio		50.1	%		65.5	%		58.8	%											63.2	%
Acquisition cost ratio		26.9	%		21.2	%		23.7	%											19.3	%
Other underwriting expenses ratio		11.6	%		10.3	%		10.9	%											11.1	%
Combined ratio		88.6	%		97.0	%		93.4	%											93.6	%

(1)	Underwriting ratios are calculated by dividing the related expense by net premiums earned.
(2)	Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.

	Twelve months ended December 31, 2024
	Reinsurance			Insurance & Services			Core			Eliminations (2)			Corporate			Segment Measure Reclass			Total
Gross premiums written	$	1,335.6		$	1,840.8		$	3,176.4		$	—		$	68.2		$	—		$	3,244.6
Net premiums written		1,104.7			1,236.2			2,340.9			—			11.2			—			2,352.1
Net premiums earned		1,045.1			1,154.0			2,199.1			—			144.4			—			2,343.5
Loss and loss adjustment expenses incurred, net		554.3			714.1			1,268.4			(5.5	)		105.6			—			1,368.5
Acquisition costs, net		279.9			284.7			564.6			(121.4	)		73.7			—			516.9
Other underwriting expenses		86.1			80.0			166.1			—			15.6			—			181.7
Underwriting income (loss)		124.8			75.2			200.0			126.9			(50.5	)		—			276.4
Services revenues		—			222.9			222.9			(132.8	)		—			(90.1	)		—
Services expenses		—			176.2			176.2			—			—			(176.2	)		—
Net services fee income		—			46.7			46.7			(132.8	)		—			86.1			—
Services noncontrolling income		—			(2.1	)		(2.1	)		—			—			2.1			—
Net services income		—			44.6			44.6			(132.8	)		—			88.2			—
Segment income (loss)		124.8			119.8			244.6			(5.9	)		(50.5	)		88.2			276.4
Net investment income														303.6			—			303.6
Net realized and unrealized investment losses														(88.7	)		—			(88.7	)
Net realized and unrealized investment gains from related party investment funds														9.7			—			9.7
Other revenues														94.1			90.1			184.2
Loss on settlement and change in fair value of liability-classified capital instruments														(148.5	)		—			(148.5	)
Net corporate and other expenses														(55.9	)		(176.2	)		(232.1	)
Intangible asset amortization														(11.9	)		—			(11.9	)
Interest expense														(69.6	)		—			(69.6	)
Foreign exchange gains														10.0			—			10.0
Income (loss) before income tax expense	$	124.8		$	119.8			244.6			(5.9	)		(7.7	)		2.1			233.1
Income tax expense								—			—			(30.7	)		—			(30.7	)
Net income (loss)								244.6			(5.9	)		(38.4	)		2.1			202.4
Net income attributable to noncontrolling interest								—			—			(0.4	)		(2.1	)		(2.5	)
Net income (loss) available to SiriusPoint							$	244.6		$	(5.9	)	$	(38.8	)	$	—		$	199.9

Attritional losses	$	579.8		$	734.5		$	1,314.3		$	(5.5	)	$	112.8		$	—		$	1,421.6
Catastrophe losses		49.5			5.3			54.8			—			—			—			54.8
Prior year loss reserve development		(75.0	)		(25.7	)		(100.7	)		—			(7.2	)		—			(107.9	)
Loss and loss adjustment expenses incurred, net	$	554.3		$	714.1		$	1,268.4		$	(5.5	)	$	105.6		$	—		$	1,368.5

Underwriting Ratios: ⁽¹⁾
Attritional loss ratio		55.5	%		63.6	%		59.8	%											60.7	%
Catastrophe loss ratio		4.7	%		0.5	%		2.5	%											2.3	%
Prior year loss development ratio	(7.2		)%	(2.2		)%	(4.6		)%										(4.6		)%
Loss ratio		53.0	%		61.9	%		57.7	%											58.4	%
Acquisition cost ratio		26.8	%		24.7	%		25.7	%											22.1	%
Other underwriting expenses ratio		8.2	%		6.9	%		7.6	%											7.8	%
Combined ratio		88.0	%		93.5	%		91.0	%											88.3	%

(1)	Underwriting ratios are calculated by dividing the related expense by net premiums earned.
(2)	Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.

	Twelve months ended December 31, 2023
	Reinsurance			Insurance & Services			Core			Eliminations (2)			Corporate			Segment Measure Reclass			Total
Gross premiums written	$	1,271.0		$	2,039.7		$	3,310.7		$	—		$	116.7		$	—		$	3,427.4
Net premiums written		1,061.0			1,282.7			2,343.7			—			94.2			—			2,437.9
Net premiums earned		1,031.4			1,249.2			2,280.6			—			145.6			—			2,426.2
Loss and loss adjustment expenses incurred, net		490.3			815.4			1,305.7			(5.4	)		81.0			—			1,381.3
Acquisition costs, net		252.2			295.5			547.7			(137.2	)		62.2			—			472.7
Other underwriting expenses		82.7			94.3			177.0			—			19.3			—			196.3
Underwriting income (loss)		206.2			44.0			250.2			142.6			(16.9	)		—			375.9
Services revenues		(1.1	)		238.6			237.5			(149.6	)		—			(87.9	)		—
Services expenses		—			187.8			187.8			—			—			(187.8	)		—
Net services fee income (loss)		(1.1	)		50.8			49.7			(149.6	)		—			99.9			—
Services noncontrolling income		—			(8.5	)		(8.5	)		—			—			8.5			—
Net services income (loss)		(1.1	)		42.3			41.2			(149.6	)		—			108.4			—
Segment income (loss)		205.1			86.3			291.4			(7.0	)		(16.9	)		108.4			375.9
Net investment income														283.7			—			283.7
Net realized and unrealized investment losses														(10.0	)		—			(10.0	)
Net realized and unrealized investment losses from related party investment funds														(1.0	)		—			(1.0	)
Other revenues														9.9			87.9			97.8
Loss on settlement and change in fair value of liability-classified capital instruments														(59.4	)		—			(59.4	)
Net corporate and other expenses														(70.4	)		(187.8	)		(258.2	)
Intangible asset amortization														(11.1	)		—			(11.1	)
Interest expense														(64.1	)		—			(64.1	)
Foreign exchange losses														(34.9	)		—			(34.9	)
Income before income tax benefit	$	205.1		$	86.3			291.4			(7.0	)		25.8			8.5			318.7
Income tax benefit								—			—			45.0			—			45.0
Net income								291.4			(7.0	)		70.8			8.5			363.7
Net income attributable to noncontrolling interest								—			—			(0.4	)		(8.5	)		(8.9	)
Net income available to SiriusPoint							$	291.4		$	(7.0	)	$	70.4		$	—		$	354.8

Attritional losses	$	618.9		$	840.7		$	1,459.6		$	(5.4	)	$	76.5		$	—		$	1,530.7
Catastrophe losses		12.2			1.3			13.5			—			11.3			—			24.8
Prior year loss reserve development		(140.8	)		(26.6	)		(167.4	)		—			(6.8	)		—			(174.2	)
Loss and loss adjustment expenses incurred, net	$	490.3		$	815.4		$	1,305.7		$	(5.4	)	$	81.0		$	—		$	1,381.3

Underwriting Ratios: ⁽¹⁾
Attritional loss ratio		60.0	%		67.3	%		64.0	%											63.1	%
Catastrophe loss ratio		1.2	%		0.1	%		0.6	%											1.0	%
Prior year loss development ratio	(13.7		)%	(2.1		)%	(7.3		)%										(7.2		)%
Loss ratio		47.5	%		65.3	%		57.3	%											56.9	%
Acquisition cost ratio		24.5	%		23.7	%		24.0	%											19.5	%
Other underwriting expenses ratio		8.0	%		7.5	%		7.8	%											8.1	%
Combined ratio		80.0	%		96.5	%		89.1	%											84.5	%

(1)	Underwriting ratios are calculated by dividing the related expense by net premiums earned.
(2)	Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.

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

Non-GAAP Financial Measures

Core Results

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

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

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

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

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

Book Value Per Diluted Common Share Metrics

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

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


	December 31, 2024			December 31, 2023
	($ in millions, except share and per share amounts)
Common shareholders’ equity attributable to SiriusPoint common shareholders	$	1,737.4		$	2,313.9

Accumulated other comprehensive income (loss), net of tax		(4.1	)		3.1
Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI		1,741.5			2,310.8

Intangible assets		140.8			152.7
Tangible common shareholders’ equity attributable to SiriusPoint common shareholders	$	1,596.6		$	2,161.2

Common shares outstanding		116,429,057			168,120,022
Effect of dilutive stock options, restricted share units and warrants		2,559,359			5,193,920
Book value per diluted common share denominator		118,988,416			173,313,942

Book value per common share	$	14.92		$	13.76
Book value per diluted common share	$	14.60		$	13.35
Book value per diluted common share ex. AOCI	$	14.64		$	13.33
Tangible book value per diluted common share	$	13.42		$	12.47

Underlying Net Income

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

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


	Three months ended						Twelve months ended
	December 31, 2024			December 31, 2023			December 31, 2024			December 31, 2023
Net income (loss) available to SiriusPoint common shareholders	$	(21.3	)	$	93.5		$	183.9		$	338.8
Non-recurring adjustments:
Gains on sale or deconsolidation of consolidated MGAs		—			—			(96.0	)		—
Losses on strategic and other investments		34.3			15.4			90.5			40.2
MGA & Strategic Investment Rationalization		34.3			15.4			(5.5	)		40.2

Losses on settlement and change in fair value of liability-classified capital instruments (“CMIG Merger Instruments”)		25.9			15.0			148.5			59.4
COVID-19 favorable reserve development ⁽¹⁾		—			—			(19.9	)		—
CMIG Instruments & Transactions		25.9			15.0			128.6			59.4

(Income) expense related to loss portfolio transfers		28.9			2.1			44.6			(101.6	)
Bermuda corporate income tax enactment		—			(100.8	)		—			(100.8	)
Foreign exchange (gains) losses		(12.9	)		19.2			(10.0	)		34.9
Income tax expense on adjustments ⁽²⁾		(11.4	)		(7.8	)		(38.1	)		(4.9	)

Underlying net income available to SiriusPoint common shareholders	$	43.5		$	36.6		$	303.5		$	266.0

Return on average common shareholders’ equity attributable to SiriusPoint common shareholders		(4.0	)%		17.1	%		9.1	%		16.2	%

Common shareholders’ equity attributable to SiriusPoint common shareholders – beginning of period	$	2,494.9		$	2,050.0		$	2,313.9		$	1,874.7
Accumulated other comprehensive income (loss), net of tax		81.5			(135.4	)		3.1			(45.0	)
Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI – beginning of period		2,413.4			2,185.4			2,310.8			1,919.7

Common shareholders’ equity attributable to SiriusPoint common shareholders – end of period		1,737.4			2,313.9			1,737.4			2,313.9
Impact of adjustments from above		64.8			(56.9	)		119.6			(72.8	)
Accumulated other comprehensive income (loss), net of tax		(4.1	)		3.1			(4.1	)		3.1
Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI – end of period		1,806.3			2,253.9			1,861.1			2,238.0

Average common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI	$	2,109.9		$	2,219.7		$	2,086.0		$	2,078.9

Underlying return on average common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI		8.2	%		6.6	%		14.5	%		12.8	%

(1)	This development, which is primarily related to business written by legacy Third Point Reinsurance Ltd., is the result of the COVID-19 reserve study performed concurrently with the settlement of the Series A Preference shares in the third quarter of 2024.
(2)	An effective tax rate of 15% is applied to the adjustments to calculate the income tax expense, where applicable.

Other Financial Measures

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

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

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


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

The MIL Network –

February 19, 2025

MIL-OSI Security: Guatemalan national sentenced for illegal reentry in Eastern District of Texas

Source: Office of United States Attorneys

BEAUMONT, Texas –A Guatemalan national has been sentenced to federal prison for illegally reentering the United States, announced Eastern District of Texas Acting U.S. Attorney Abe McGlothin, Jr.

Carlos Rodriguez-Torres, 42, pleaded guilty to reenty of deported alien and was sentenced to 18 months in federal prison by U.S. District Judge Marcia A. Crone on February 18, 2025.

According to information presented in court, on April 18, 2024, Rodriguez-Torres was found in Lumberton. Data system checks revealed Rodriguez-Torres is a citizen and national of Guatemala and illegally present in the United States. Further investigation revealed Rodriguez-Torres had been previously deported or removed to Guatemala on March 14, 2012; October 9, 2012; March 12, 2013; and January 8, 2019. Rodriguez-Torres had also been previously convicted of unlawful possession of a firearm by an alien on February 20, 2018, in the Eastern District of Texas.

This case was investigated by Homeland Security Investigations and the Lumberton Police Department. This case was prosecuted by Assistant U.S. Attorney Matt Quinn.

###

MIL Security OSI –

February 19, 2025
MIL-OSI United Nations: Amid Evolving Threat Landscape, UN Peacekeepers Must Have Adequate Resources to Protect Vulnerable Populations in Conflict Zones, Speakers Tell Special Committee

Source: United Nations General Assembly and Security Council

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Donor Countries Pledge Continued Support

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

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

Election of Officers

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

MIL OSI United Nations News –

February 19, 2025
MIL-OSI USA: Attorney General Bonta Joins Multistate Coalition to Continue Supporting Pennsylvania’s Commonsense Age-Based Firearm Restrictions
Source: US State of California

Tuesday, February 18, 2025

Contact: (916) 210-6000, agpressoffice@doj.ca.gov
OAKLAND — California Attorney General Rob Bonta, as part of a coalition of 19 attorneys general, filed a brief in support of the State of Pennsylvania’s petition for rehearing en banc in Lara v. Commissioner of Pennsylvania State Police. Pennsylvania law sets the minimum age at 21 for securing a permit to carry a concealed handgun in public and during states of emergency. The case is currently pending in the U.S. Court of Appeals for the Third Circuit after remand from the U.S. Supreme Court for further consideration in light of the Supreme Court’s decision in United States v. Rahimi. The coalition’s brief argues that the Third Circuit’s three-judge panel erred in its decision to strike down the laws as unconstitutional under the Second Amendment and that the panel’s reasoning could undermine efforts by states to protect their citizens through the application of similar age-limitation laws. In fact, most states across the nation impose some age-based restrictions on the possession, purchase, or use of firearms reflecting their collective judgment that such laws promote public safety and curb gun violence within their borders.

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

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

Attorney General Bonta urges the Court of Appeals sitting en banc to overturn the panel’s decision because:
- The Second Amendment allows states to enact varied measures to promote gun safety and protect against gun violence consistent with historical tradition, and states have long exercised this power by enacting laws to promote safety, prevent crime, and minimize gun violence within their borders.
- Pennsylvania’s age-based restrictions are consistent with measures taken by other states and fall comfortably within states’ authority to regulate firearms. Most states and the District of Columbia impose age-based restrictions regarding the use, purchase, or possession of firearms, and a majority of states have determined that those under the age of 21 should be more restricted in their ability to carry firearms in public. Courts have previously upheld these restrictions relying on the historical record as is now required by Bruen.
- The panel’s categorical rejection of relevant historical evidence from the time period when the Fourteenth Amendment incorporated the Second Amendment against the states is inconsistent with Supreme Court precedent and fundamental principles of constitutional adjudication.
Attorney General Bonta joins the attorneys general of Colorado, Connecticut, Delaware, the District of Columbia, Hawaii, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont and Washington in filing the brief.

A copy of the brief can be found here.
# # #

MIL OSI USA News –
February 19, 2025
MIL-OSI Security: Guatemalan Citizen Pleads Guilty To Illegally Transporting Undocumented Aliens

Source: Office of United States Attorneys

Jacksonville, Florida – Acting United States Attorney Sara C. Sweeney announces that Fredi Herrera-Sontay (42, Guatemala) has pleaded guilty to being paid to transport an undocumented alien to further his illegal presence in the United States. Herrera faces a maximum penalty of 10 years in prison. A sentencing date has not yet been set.

According to the plea agreement, the U.S. Border Patrol received information that a grey truck with a Georgia license plate traveling southbound on I-75 was transporting undocumented aliens between Atlanta, Georgia, and South Florida. Border Patrol agents patrolling I-75 observed the truck and determined that Herrera was the registered owner and was illegally present in the United States. Agents stopped the vehicle in the early morning hours of January 29, 2025.

Upon questioning, Herrera and a passenger in the truck stated that they were citizens of Guatemala. Neither of them had any documents establishing that they were legally authorized to be in the United States.

Database checks for the vehicle reflected that it was purchased by Herrera on February 4, 2022, and that the mileage at the time of the purchase was 88,054. The vehicle’s odometer showed that the mileage at the time of the stop was 435,814, meaning that the vehicle had been driven 347,760 miles—or, on average, about 9,660 miles per month—since Herrera had purchased it.

Both Herrera and the passenger were administratively arrested and transported to the Jacksonville Border Patrol Station for immigration processing. During processing, agents learned that Herrera had multiple previous immigration encounters and had been removed from the United States on July 11, 2018. No results returned for the passenger, indicating no prior encounters.

During an interview, Herrera stated that that he was taking the passenger to Miami, for which he was paid $250, and that he was generally paid $250 for each person he transported. When he was asked how many times he had transported aliens, he replied that he did not know, that he did not have a clue how many times.

This case was investigated by the U.S. Border Patrol. It is being prosecuted by Assistant United States Attorney Arnold B. Corsmeier.

MIL Security OSI –

February 19, 2025
MIL-OSI Security: United States Attorney’s Office Announces Departure of Jaime Esparza

Source: Office of United States Attorneys

SAN ANTONIO – The United States Attorney’s Office for the Western District of Texas announced today the departure of Jaime Esparza as U.S. Attorney.

Esparza was confirmed by the U.S. Senate in December 2022. He came to the Western District of Texas after serving as the District Attorney for the 34th Judicial District of Texas, in El Paso, from 1993 to 2020.

As U.S. Attorney, Esparza led the handling of more than 41,000 federal criminal prosecutions—including immigration, drugs, firearm, white collar, and violent crime—and more than 10,000 civil cases in this southern border district. He made it a priority to disrupt and dismantle criminal organizations, including gangs, cartels and smuggling organizations. He also led and elevated outreach programs to educate the public on the dangers of fentanyl and machinegun conversion devices, and to bring awareness to domestic violence issues, among others.

Under Esparza’s leadership, the civil section defended the United States in numerous civil actions and sought and obtained civil penalties against numerous individuals and entities under the False Claims Act. Additionally, his team of asset recovery lawyers obtained millions of dollars in restitution for victims and forfeited millions of dollars in property that were used to commit crimes or were obtained with proceeds of crime.

The Western District of Texas is comprised of 93,000 square miles, 68 counties, covers 660 miles of U.S./Mexico border, and has divisional offices in El Paso, Del Rio, Waco, San Antonio, Austin, Pecos-Alpine, and Midland-Odessa. Its civil and criminal attorneys practice in District, Magistrate, and Bankruptcy Courts throughout the District, as well as in the Fifth Circuit Court of Appeals.

Under the Vacancy Reform Act, First Assistant U.S. Attorney Margaret Leachman now serves as the Acting U.S. Attorney for the Western District of Texas.

Leachman has been with the Western District of Texas for more than 30 years and has served in numerous roles, including as Senior Litigation Counsel, Chief of the Criminal Division, Chief of the El Paso Division, and as an Assistant U.S. Attorney in the Appellate and Major Crimes sections.

###

MIL Security OSI –

February 19, 2025
MIL-OSI Security: Police Officer Pleads Guilty To Gun Trafficking Offense

Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

Orlando, FL – Acting United States Attorney Sara C. Sweeney announces that Michael Adrian Nieto (31, St. Cloud) has pleaded guilty to dealing in firearms without a license. Nieto faces a maximum penalty of five years in federal prison. A sentencing date has not yet been set.

According to the plea agreement, Nieto, a sworn law enforcement officer, repeatedly purchased and resold firearms to individuals. Among others, Nieto supplied firearms to Ernesto Vazquez, a key member of a criminal conspiracy that smuggled hundreds of firearms to the Dominican Republic, Puerto Rico, and Haiti. In addition, to benefit the conspiracy, Nieto corruptly used police databases to provide sensitive and confidential information to Vazquez.

Between June 6, 2022, and September 4, 2024, Nieto purchased at least 58 firearms. Many of the firearms were identical and were purchased together or close in time to one another. On October 17, 2024, FBI and ATF agents executed a federal search warrant at Nieto’s residence. At the time of the search warrant, 12 firearms were still in his possession.

On October 17, 2024, Nieto was interviewed by FBI and ATF agents. He admitted to repeatedly buying and reselling guns to individuals, including Vazquez, despite knowing that Vazquez was transferring these guns to third parties, in violation of federal law. Nieto also admitted that Vazquez had provided him with illegal items, including a machinegun conversion device.

Vazquez previously pleaded guilty to conspiracy to traffic firearms. His sentencing hearing is scheduled for March 25, 2025.

“The St. Cloud Police Department has worked closely with the Department of Justice to assist them in their investigation regarding former officer Michael Nieto. In the wake of the recent DOJ findings, we are conducting our own in-depth investigation into the matter.” said St. Cloud Police Chief Douglas Goerke. “SCPD pledges to take immediate action should an officer act in a manner that could break a community’s trust, no matter their rank or tenure with the department.”

This case was investigated by the Federal Bureau of Investigation and the Bureau of Alcohol, Tobacco, Firearms and Explosives. It is being prosecuted by Assistant United States Attorney Noah P. Dorman.

MIL Security OSI –

February 19, 2025
MIL-OSI Security: Illegal Alien Charged with Firearm Offenses

Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

Paducah, KY –A federal criminal complaint and arrest warrant was issued last week charging an illegal alien with aggravated identity theft, making a false statement during a firearm transaction, and being an illegal alien in possession of a firearm.

U.S. Attorney Michael A. Bennett of the Western District of Kentucky, Acting Special Agent in Charge A.J. Gibes of the ATF Louisville Field Division, Special Agent in Charge Rana Saoud of Homeland Security Investigations Nashville, and Commissioner Phillip Burnett, Jr. of the Kentucky State Police made the announcement.

According to court records, on or about November 11, 2024, Manuel Antonio Xante-Ajanel, 25, a citizen of Guatemala, attempted to purchase a firearm from Academy Sports in Paducah using fraudulent identification belonging to another person. The transaction was terminated when the identification provided was flagged as being fraudulent. A search warrant was executed on January 31, 2025, at the defendant’s residence in Mayfield, Kentucky. Law enforcement located numerous fraudulent identification documents. Later that day, a search warrant was executed on the defendant’s vehicle, yielding a loaded 9-millimeter handgun. The defendant admitted to possessing the firearm and to being in the United States unlawfully.

Homeland Security Investigations verified that Xante-Ajanel is Guatemalan and entered the United States illegally.

Xante-Ajanel is in state custody and will make an initial appearance before a U.S. Magistrate Judge in the U.S. District Court for the Western District of Kentucky at a later date. If convicted on the charges in the complaint, Xante-Ajanel faces a minimum sentence of 2 years and a maximum sentence of 12 years in prison. A federal district court judge will determine any sentence after considering the sentencing guidelines and other statutory factors.

There is no parole in the federal system.

This case is being investigated by the ATF – Paducah Post of Duty, HSI – Paducah Post of Duty, and the Kentucky State Police.

Assistant U.S. Attorney Leigh Ann Dycus, of the U.S. Attorney’s Paducah Branch Office, is prosecuting the case.

A criminal complaint is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

###

MIL Security OSI –

February 19, 2025
MIL-OSI Economics: WTO chairpersons for 2025

Source: World Trade Organization

General Council
H.E. Mr. Saqer Abdullah Almoqbel (Kingdom of Saudi Arabia)

Dispute Settlement Body

H.E. Ms. Clare Kelly (New Zealand)

Trade Policy Review Body

H.E. Mr. Asset Irgaliyev (Kazakhstan)

Council for Trade in Goods

H.E. Mr. Gustavo Nerio Lunazzi (Argentina)

Council for Trade in Services

H.E. Mr. Ram Prasad Subedi (Nepal)

Council for Trade-Related Aspects of Intellectual Property Rights (TRIPS)

Mme. Emmanuelle Ivanov-Durand (France)

Committee on Trade and Development

H.E. Dr. Mzukisi Qobo (South Africa)

Committee on Balance-of-Payments Restrictions

H.E. Dr. José R. Sánchez-Fung (Dominican Republic)

Committee on Budget, Finance and Administration

H.E. Mrs. Carmen Heidecke (Germany)

Committee on Trade and Environment

H.E. Mr. Erwin Bollinger (Switzerland)

Committee on Regional Trade Agreements

H.E. Mr. José Valencia (Ecuador)

Working Group on Trade, Debt and Finance

H.E. Mr. Suon Prasith (Cambodia)

Working Group on Trade and Transfer of Technology

H.E. Mr. Salomon Eheth (Cameroon)

Council for Trade in Services in Special Session
H.E. Dr. Adamu Mohammed Abdulhamid (Nigeria)

MIL OSI Economics –

February 19, 2025
MIL-OSI USA: ICE Washington, D.C., law enforcement partners arrest 3 illegal aliens in Northern Virginia
Source: US Immigration and Customs Enforcement

February 18, 2025Arlington, VA, United StatesEnforcement and Removal
ARLINGTON, Va. — U.S. Immigration and Customs Enforcement assisted by the FBI and the Bureau of Alcohol, Tobacco, Firearms and Explosives, apprehended three illegally present aliens during a routine enforcement operation in Arlington, Feb. 11.

“These illegally present individuals were in the Northern Virginia area in violation of U.S. immigration laws,” said ICE Enforcement and Removal Operations Washington, D.C. acting Field Office Director Patrick Divver. “ICE Washington, D.C.’s mission is to ensure the safety and security of our District of Columbia and Virginia communities through the arrest and removal of those individuals who undermine the safety of our communities and the integrity of our immigration laws. We take this mission extremely seriously, and we will continue to arrest and remove alien offenders.”

During the targeted operation, ICE officers and FBI and ATF agents arrested:
- A 68-year-old Mexican alien convicted of criminal trespass and disorderly conduct/public intoxication. The Mexican national illegally re-entered the United States after having previously been removed to Mexico in May 2003.
- A 49-year-old, Salvadoran alien convicted of DWI in February 2010 and charged with another DWI in December 2024, both in Prince William County, Virginia. An immigration judge with the Justice Department’s Executive Office for Immigration Review ordered the Salvadoran alien removed from the U.S. in November 2005.
- A 30-year-old Bolivian alien, who violated the terms of his lawful admission into the U.S.
Members of the public can report crimes and suspicious activity by dialing 866-DHS-2-ICE (866-347-2423) or completing the online tip form.

Learn more about ICE’s mission to increase public safety in our communities on X: @EROWashington.
MIL OSI USA News –
February 19, 2025
MIL-OSI Video: CARICOM, Security Council & other topics – Daily Press Briefing | United Nations

Source: United Nations (Video News)

Noon Briefing by Stéphane Dujarric, Spokesperson for the Secretary-General.

———————————

Highlights:

– Secretary General
– Security Council
– Democratic Republic of the Congo
– DR Congo/Human Rights
– Sudan
– UNRWA
– Occupied Palestinian Territory
– Gaza
– Lebanon
– Yemen

SECRETARY-GENERAL
On Wednesday, the Secretary-General will attend the 48th Regular Meeting of the Conference of the Heads of Government of the Caribbean Community, better known as CARICOM. He will speak at the opening ceremony, which will take place tomorrow evening in Bridgetown, Barbados.
Underscoring that the Conference’s theme this year – Strength in Unity – which is truly a theme for our times, the Secretary-General is expected to highlight three key areas where, together, we must drive progress – peace and security, the climate crisis and sustainable development.
On Thursday, the Secretary-General will have a closed session with CARICOM Heads of Government, to exchange views on pressing issues in the region, including Haiti.
While in Bridgetown, the Secretary-General will hold a bilateral meeting with Prime Minister Mia Mottley of Barbados. He will also meet other leaders on the margins of the conference.
The Secretary-General will leave New York very early tomorrow morning and he will be back in New York on Thursday.

SECURITY COUNCIL
The Secretary-General spoke at today’s Security Council meeting on multilateralism and improving global governance. He said that we have the hardware for international cooperation — but the software needs an update.
He said that the Pact for the Future adopted in September is aimed at strengthening global governance for the 21st century and rebuilding trust — trust in multilateralism, trust in the United Nations, and trust in this very Council.
The Secretary-General noted that the Pact recognizes that the Security Council must reflect the world of today, not the world of 80 years ago. It also sets out important principles to guide this long-awaited reform. This Council should be enlarged and made more representative of today’s geopolitical realities, the Secretary-General said.
He also urged Security Council members to continue working to overcome differences and focus on building the consensus required to deliver the peace for all people.

Full Highlights:
https://www.un.org/sg/en/content/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=18%20February%202025v

https://www.youtube.com/watch?v=nMTp4rvfKkY

MIL OSI Video –

February 19, 2025
MIL-OSI: Champions Unite: XBO.com Becomes the Official Global Sponsor of the Argentina National Football Team
Source: GlobeNewswire (MIL-OSI)

Argentine Football Association Partners with XBO.com, a leading cryptocurrency exchange, to unite two passionate communities. Football fans and XBO.com users will gain access to exclusive promotions, events, and VIP match experiences

WARSAW, Poland, Feb. 18, 2025 (GLOBE NEWSWIRE) — The Argentine Football Association (AFA), the governing body of football in Argentina, has partnered with XBO.com, a leading cryptocurrency exchange dedicated to making digital asset trading accessible, secure, and user-friendly. This collaboration aims to strengthen Argentina’s football community while providing fans with seamless and trustworthy access to cryptocurrency.

A Landmark Partnership Between Crypto & Football

In a groundbreaking collaboration that bridges the worlds of digital finance and sports, XBO.com is proud to become an official Global Sponsor of the Argentina National Football Team for 2025!

The Argentine Football Association—one of the most iconic institutions in world football—and XBO.com, a next-generation cryptocurrency exchange, have signed a one-year Sponsorship Agreement for 2025. As part of this agreement, XBO.com will support the Argentine National Football Team throughout the next competitive chapter in 2025, ahead of the final World Cup 2026 qualification matches.

This partnership marks a major milestone in XBO.com’s mission to make cryptocurrency accessible to all, while also playing a key role in AFA’s global expansion, which makes it highly sought-after by both parties.

Two Champions, One Goal: Crypto for All

Football and crypto have more in common than meets the eye: both unite people across borders, thrive on strategy, and reward those who stay ahead of the game. The partnership between AFA and XBO.com brings together two leading organizations from these fields to collaborate in facing new challenges and seizing opportunities.

The Argentina National Team – A legacy of champions, reigning World Cup winners, and a global fanbase of millions.

XBO.com – An innovative crypto exchange built to empower traders with security, ease of use, and financial freedom.

With its global influence, AFA has no shortage of sponsorship opportunities among global brand leaders. Given this, the Association’s decision to partner with XBO.com is a strong testament to its forward-looking vision and the increasing role of crypto in the global economy.

Claudio Fabian Tapia, President of AFA, stated:

“We are delighted to welcome XBO.com as the new official sponsor of the Argentine Football Association. This agreement represents an important milestone in our global expansion strategy, opening new opportunities with such a prominent and innovative crypto brand. We look forward to a successful partnership and shared achievements in 2025.”

What This Partnership Brings:
- Exclusive Rewards & Giveaways – Win signed jerseys, VIP match tickets, stadium tours, and unforgettable fan experiences.
- Exciting Interactive Campaigns – Participate in challenges, competitions, and promotions that blend the thrill of football with the excitement of crypto.
- Unforgettable Events & Engagements – Be part of the action with co-branded activations, meet & greets, and unique experiences.
According to Leandro Petersen, Chief Commercial and Marketing Officer of AFA, this partnership will amplify both brands’ presence through innovative marketing initiatives:

“AFA and XBO.com will be creating unique marketing campaigns, increasing the synergy and power of our brands in the global market. With great enthusiasm, we trust this agreement with XBO.com will be a great success.”

More Than a Sponsorship—A Movement

“This is more than just a sponsorship—it’s a statement,” says Lior Aizik, XBO.com’s COO & Co-founder.

“By teaming up with AFA, we’re proving that crypto isn’t just the future of finance—it’s a global movement that belongs to everyone. Football has always been about passion, teamwork, and breaking barriers—values that align perfectly with XBO.com’s vision for financial accessibility. This collaboration is about bringing people together and creating a truly global, borderless experience.”

As part of the partnership, XBO.com will be launching special promotions, rewards, and joint campaigns featuring the Argentine National Team as brand ambassadors. Fans and crypto enthusiasts alike will gain unprecedented access to the team’s biggest moments, players, and exclusive behind-the-scenes content.

Join the Future of Crypto & Football

The XBO.com x AFA partnership is just the beginning. Expect major announcements, massive rewards, and once-in-a-lifetime experiences ahead!

Trade like a champion. Sign up with XBO.com today & stay tuned for upcoming giveaways and exclusive perks!

About XBO.com

XBO.com is an innovative cryptocurrency exchange designed for both novice and experienced traders. Built on the principles of transparency, security, and accessibility, XBO.com offers a seamless trading experience with:
* Fiat-to-crypto swaps
* Spot and futures trading
* High-yield earning opportunities
* Intuitive UI & competitive fees

With a secure and user-friendly interface, XBO.com is redefining crypto trading and making it accessible to a global audience.

XBO.com – Social Media Links

About AFA

Founded in 1893, the Argentine Football Association (AFA) is the governing body of football in Argentina and one of the oldest football federations in the world. Headquartered in Buenos Aires, AFA oversees all aspects of the sport, including the organization of domestic leagues such as the Primera División, Primera Nacional, and lower divisions, as well as national cup competitions like the Copa Argentina and Supercopa Argentina.
afa.com.ar

Contact:
Meirav Shacked
Meirav.s@xbo.com

Disclaimer: This content is provided by XBO.com. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered as financial, investment, or trading advice. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before investing in or trading cryptocurrency and securities .Please conduct your own research and invest at your own risk.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/515d40f2-0cad-4e6d-a63c-bd8c16fcb41d

The MIL Network –
February 19, 2025
MIL-OSI United Kingdom: The United Kingdom remains deeply committed to the United Nations: UK statement at the UN Security Council

Source: United Kingdom – Executive Government & Departments

Statement by Ambassador Barbara Woodward, UK Permanent Representative to the UN, at the UN Security Council meeting on practising multilateralism, reforming and improving global governance.

The United Kingdom remains deeply committed to the United Nations.

But 80 years since its creation, with more countries engaged in conflict than ever before, we are falling short of its founding mission to save succeeding generations from the scourge of war.

And despite progress on health and education, significant global challenges remain.

The climate crisis is accelerating and the Sustainable Development Goals are off-track.

Why so? There is more to this than the often-mentioned liquidity crisis.

In 80 years, UN membership has increased from 51 to 193 Member States, but the UN and its institutions are not fully representative of all its members.

We now live in a multipolar world, not a bipolar or unipolar one, whose challenges, climate, pandemics and cyber security are more transnational than national.

As the Secretary-General reminded us and so many speakers today have reiterated, the Pact of the Future demonstrated a clear desire and a clear commitment to reinvigorate the multilateral system, including through reforming the UN and the international financial system.

Together, we need to redouble our efforts and find new ways to address emerging challenges.

2025, the UN’s 80th anniversary and a year of key summits, is the first step on this path.

Next month we have the Commission on the Status of Women and the Beijing +30 meeting; in June we have the UN Oceans Conference; in July FFD4. And later in the year the UN Social Summit and COP30, back in Brazil.

Together, these summits seek to address our shared concerns.

Their success is critical for progress and the UN’s reputation as our multilateral home.

Second, we need to use the UN more effectively to deliver international peace and security.

Such progress must go hand in hand with upholding human rights.

This starts first and foremost with the defence of the UN Charter as colleagues have references.

Nowhere is that more true today than in Ukraine, whose sovereignty and territorial integrity is under threat from Russian aggression.

We must work to ensure that all UN tools, including its good offices, are used to deliver and advance peace.

For example, Personal Envoy Lamamra has a crucial platform to bring together the warring parties in Sudan.

We encourage reinvigorated momentum for mediation efforts, as well as a renewed focus on prevention to reduce crises before they happen.

This year’s Peacebuilding Architecture Review is an important opportunity in this regard.

We also need to refresh our peacekeeping approach to ensure missions are fit for purpose and defend UN peacekeepers wherever they serve.

Attacks against them are unacceptable.

We honour, in particular today, MONUSCO peacekeepers who have fallen in defence of civilians in the DRC.

Finally, in the face of growing global crises, from Sudan to Myanmar, we need to support the UN’s development and humanitarian programmes, across its agencies.

In Gaza, UNRWA, alongside the WFP and UNICEF, provides over 50% of all food aid.

We commend OCHA’s tireless efforts to reach those in need.

Humanitarian access and the protection of aid workers are integral to their successful delivery.

In conclusion, President, colleagues, the Council is often characterised as an ineffective geopolitical theatre.

While reform of its membership is needed and the UK supports that, this body has the tools to implement its peace and security mandate.

We now need to strengthen our collective will to use them more effectively and, as the Secretary-General has said, in our 80th year, work to build the more peaceful, just and prosperous world that we know is within reach.

Updates to this page

Published 18 February 2025

MIL OSI United Kingdom –

February 19, 2025
MIL-OSI USA: February 18th, 2025 Heinrich Demands Answers from FEMA About Elon Musk and DOGE’s Access to Disaster Victims’ Personal Data
US Senate News:
Source: United States Senator for New Mexico Martin Heinrich

WASHINGTON — U.S. Senators Martin Heinrich (D-N.M.), Peter Welch (D-Vt.), Alex Padilla (D-Calif.), and 9 Senate Democrats demanded answers from the Federal Emergency Management Agency (FEMA) on the potential security breach created by Elon Musk’s “Department of Government Efficiency” (DOGE), which has reportedly accessed the sensitive personal data of disaster victims.

In a letter to the Senior Official Performing the Duties of FEMA Administrator, the senators requested more information on the procedures FEMA follows to protect data from misuse, and if DOGE’s unaccountable agents were in compliance with federal law.

“The United States has suffered from a growing number of natural disasters over the past several years — from severe flooding in Vermont and hurricanes in North Carolina, to catastrophic wildfires in Hawaii and California. In order to register for federal disaster assistance and receive help rebuilding their communities, our constituents have provided their personally identifiable information to FEMA. They did not do so with the expectation that their sensitive information would be turned over to unvetted, unaccountable DOGE agents,” the senators wrote to Cameron Hamilton, the Senior Official Performing the Duties of FEMA Administrator.

“Mr. Musk has stated his desire to eliminate waste at FEMA. We agree the country must examine and thoughtfully consider reforms to the operation of FEMA. Our constituents have experienced first-hand the frustrating bureaucracies that hinder the federal disaster recovery process. Congress must take steps to equip FEMA and communities with the tools needed to better assist disaster victims after the storm has passed. We stand ready to work with anyone willing to fix it,” continued the senators. “But such reforms do not require, or come close to justifying, the invasive measures DOGE has reportedly undertaken.”

The senators concluded, “When disaster strikes, Americans should have confidence the government will safeguard their data, regardless of the Administration at the helm. Reports indicate you have breached that trust — perhaps in violation of federal privacy law.”

In their letter, the senators requested responses to the following questions to understand the scope of that breach and the extent of FEMA’s compliance with federal law:
1. Please provide a complete list of individuals authorized by FEMA to access disaster victims’ data and records during the period between January 20, 2025, and February 14, 2025. Please indicate whether those individuals are employees of FEMA, the White House, DOGE, or another federal agency and specify the agency. If the individuals are not federal employees, please indicate that in your response.
2. What are the individuals specified above authorized to do with disaster victims’ data and records, and what types of data were obtained?
3. What procedures does FEMA follow to protect disaster victims’ data from misuse? Are DOGE-affiliated individuals required to follow those procedures?
4. How many Americans’ personally identifiable data has been accessed by DOGE-affiliated individuals? What vetting did these individuals undergo prior to their being granted access to FEMA systems?
The full text of the letter is here and below:

Dear Mr. Hamilton,

We write with serious concern about reports that Elon Musk’s “Department of Government Efficiency” (DOGE) has obtained access to sensitive information at the Federal Emergency Management Agency (FEMA), including the personal data of thousands of disaster victims.

The United States has suffered from a growing number of natural disasters over the past several years—from severe flooding in Vermont, Minnesota, and Connecticut and hurricanes in North Carolina, to catastrophic wildfires in Hawai’i, California, New Mexico, and Oregon. In order to register for federal disaster assistance and receive help rebuilding their communities, our constituents have provided their personally identifiable information to FEMA. They did not do so with the expectation that their sensitive information would be turned over to unvetted, unaccountable DOGE agents.

Mr. Musk has stated his desire to eliminate waste at FEMA. We agree the country must examine and thoughtfully consider reforms to the operation of FEMA. Our constituents have experienced first-hand the frustrating bureaucracies that hinder the federal disaster recovery process. Congress must take steps to equip FEMA and communities with the tools needed to better assist disaster victims after the storm has passed. We stand ready to work with anyone willing to fix it.

But such reforms do not require, or come close to justifying, the invasive measures DOGE has reportedly undertaken.

When disaster strikes, Americans should have confidence the government will safeguard their data, regardless of the Administration at the helm. Reports indicate you have breached that trust — perhaps in violation of federal privacy law.

To understand the scope of that breach and the extent of your compliance with federal law, we request responses to the following items by no later than February 28, 2025:
1. Please provide a complete list of individuals authorized by FEMA to access disaster victims’ data and records during the period between January 20, 2025, and February 14, 2025. Please indicate whether those individuals are employees of FEMA, the White House, DOGE, or another federal agency and specify the agency. If the individuals are not federal employees, please indicate that in your response.
2. What are the individuals specified above authorized to do with disaster victims’ data and records, and what types of data were obtained?
3. What procedures does FEMA follow to protect disaster victims’ data from misuse? Are DOGE-affiliated individuals required to follow those procedures?
4. How many Americans’ personally identifiable data has been accessed by DOGE-affiliated individuals? What vetting did these individuals undergo prior to their being granted access to FEMA systems?
Sincerely,
MIL OSI USA News –
February 19, 2025
MIL-OSI USA: February 18th, 2025 Heinrich, Luján Raise Alarm Over Trump Admin Pushing Illegal Funding Cuts to NIH & Derailing Lifesaving Research

US Senate News:

Source: United States Senator for New Mexico Martin Heinrich

New Mexico receives $125 million in NIH funding that supports over 1,400 jobs and generates nearly $290 million in economic activity

Heinrich and Luján: “The administration’s new policy means that research will come to a halt, sick kids may not get the treatment they need, and clinical trials may shut down abruptly”

WASHINGTON – U.S. Senators Martin Heinrich (D-N.M.) and Ben Ray Luján (D-NM), alongside 45 Senate Democrats, sent a letter to U.S. Department of Health and Human Services (HHS) Secretary Robert F. Kennedy, Jr. expressing serious concern over the Trump administration’s recent decisions that threaten to create a serious funding shortfall for research institutions in New Mexico, undermine progress on lifesaving scientific advancements, jeopardize the U.S. economy, and endanger the livelihoods of hundreds of thousands of workers.

“As the largest public funder of biomedical research in the world, the National Institutes of Health (NIH) plays a critical role in sustaining the research infrastructure necessary for scientific breakthroughs in cancer treatment, infectious disease prevention, and medical technology innovation, among many others. President Trump has wreaked havoc on the nation’s biomedical research system in recent weeks. In his first several days in office, President Trump imposed a hiring freeze, communications freeze, ban on travel, and cancellation of grant review and advisory panels that are necessary to advance research. While some of these efforts have been reversed, they continue to cause confusion and miscommunication among researchers and recipients of NIH funds,” the senators wrote.

This month, the NIH announced it would set the maximum reimbursement rate for indirect costs to 15% — creating a serious funding shortfall for research institutions of all types across the country. This move would dismantle the biomedical research system, stifle the development of new cures for diseases, and affect ongoing research important to New Mexicans such as clinical trial research at the University of New Mexico.

Importantly, this change is not a cost savings. It a cost transfer to organizations that cannot afford to pay the difference. This action by the Trump administration is unlawful — Congress’ bipartisan Labor-HHS-Education Appropriations Bill prohibits modifications to NIH’s indirect costs.

“This change to NIH’s indirect cost rate represents an indiscriminate funding cut that will be nothing short of catastrophic for the lifesaving research that patients and families are counting on. The administration’s new policy means that research will come to a halt, sick kids may not get the treatment they need, and clinical trials may shut down abruptly,” the senators wrote.

The senators point out that, in addition to the stifling impact on discovering new cures and ripping away treatment from those who need it, changes to NIH policy and communications threaten jobs in all 50 states and the District of Columbia. NIH research supported more than 1,400 jobs and spurred nearly $290 million in new economic activity in New Mexico during Fiscal Year 2023.

“The Trump Administration has left researchers, universities, and health systems with great uncertainty about whether they can continue to support entire research programs and patient clinical trials across the country. Institutions and grantees nationwide are dealing with an unprecedented external communications ‘pause’ enacted by new leadership at the U.S. Department of Health and Human Services, the lack of transparency regarding the Administration’s illegal funding freeze, and the uncertainty of how new Executive Orders would be applied to their critical work. These actions resulted in NIH freezing grant reviews and cancelling advisory meetings, delaying critical funding that scientists need to continue advancing new cures and treatments. These disruptions do not just slow research — they cost lives,” the senators continued.

“Our standing as a world leader in funding and producing new medical and scientific innovations has been put at risk by these recent actions from the Trump Administration. We urge you to stop playing political games with the lifesaving work of the NIH and to allow NIH research to continue uninterrupted,” the senators concluded.

Last week, a federal judge in Boston temporarily blocked the NIH rate cut and set a hearing for February 21^st.

The letter was led by U.S. Senator Patty Murray (D-Wash.). Alongside Heinrich and Luján, the letter was signed by U.S. Senators Angela Alsobrooks (D-Md.), Tammy Baldwin (D-Wis.), Michael Bennet (D-Colo.), Richard Blumenthal (D-Conn.), Lisa Blunt Rochester (D-Del.), Cory Booker (D-N.J.), Maria Cantwell (D-Wash.), Chris Coons (D-Del.), Catherine Cortez Masto (D-Nev.), Tammy Duckworth (D-Ill.), Dick Durbin (D-Ill.), John Fetterman (D-Pa.), Ruben Gallego (D-Ariz.), Kirsten Gillibrand (D-N.Y.), Maggie Hassan (D-N.H.), John Hickenlooper (D-Colo.), Mazie Hirono (D-Hawaii), Tim Kaine (D-Va.), Mark Kelly (D-Ariz.), Andy Kim (D-N.J.), Angus King (I-Maine), Amy Klobuchar (D-Minn.), Ed Markey (D-Mass.), Jeff Merkley (D-Ore.), Chris Murphy (D-Conn.), Jon Ossoff (D-Ga.), Alex Padilla (D-Calif.), Gary Peters (D-Mich.), Jack Reed (D-R.I.), Jacky Rosen (D-Nev.), Bernie Sanders (I-Vt.), Brian Schatz (D-Hawaii), Adam Schiff (D-Calif.), Chuck Schumer (D-N.Y.), Jeanne Shaheen (D-N.H.), Elissa Slotkin (D-Mich.), Tina Smith (D-Minn.), Chris Van Hollen (D-Md.), Mark Warner (D-Va.), Raphael Warnock (D-Ga.), Elizabeth Warren (D-Mass.), Peter Welch (D-Vt.), Sheldon Whitehouse (D-R.I.), and Ron Wyden (D-Ore.).

The text of the letter is here and below:

Dear Secretary Kennedy,

We write to express our serious concern with the Trump Administration’s recent decisions that threaten to undermine the nation’s biomedical research infrastructure and set us back generations. The steps the Trump Administration has taken will create a serious funding shortfall for research institutions nationwide, threaten to undermine progress on lifesaving scientific advancements, could cost the U.S. economy billions of dollars, and threaten the livelihoods of hundreds of thousands of workers.

As the largest public funder of biomedical research in the world, NIH plays a critical role in sustaining the research infrastructure necessary for scientific breakthroughs in cancer treatment, infectious disease prevention, and medical technology innovation, among many others. President Trump has wreaked havoc on the nation’s biomedical research system in recent weeks. In his first several days in office, President Trump imposed a hiring freeze, communications freeze, ban on travel, and cancellation of grant review and advisory panels that are necessary to advance research. While some of these efforts have been reversed, they continue to cause confusion and miscommunication among researchers and recipients of NIH funds.

Just last week, NIH announced an illegal plan to cap indirect cost rates that research institutions rely on. In capping indirect cost rates at 15 percent for NIH-funded grants, this policy would cut funding essential for conducting research, such as operating and maintaining laboratories, equipment, and research facilities. This change to NIH’s indirect cost rate represents an indiscriminate funding cut that will be nothing short of catastrophic for the lifesaving research that patients and families are counting on. The Administration’s new policy means that research will come to a halt, sick kids may not get the treatment they need, and clinical trials may shut down abruptly.

These confusing and harmful policy changes threaten patient safety. The strength of the American research enterprise – recognized as the best in the world – is built on Congress’ bipartisan commitment to supporting essential research infrastructure. This funding, which Congress has long appropriated on a bipartisan basis, fuels groundbreaking medical discoveries and cements the United States’ position as the global leader in biomedical research.

In addition to the stifling impact on discovering new cures and ripping away treatment from those who need it, changes to NIH policy and communications threaten jobs in all 50 states and the District of Columbia, with everyone from custodians, to research trainees, to scientists facing potential layoffs. NIH research supported more than 412,000 jobs and fueled nearly $93 billion in new economic activity in Fiscal Year 2023. Every dollar the NIH invests in research generates almost $2.50 in economic activity. These reckless policy changes not only threaten biomedical innovation and research, but also the livelihoods of thousands of workers in every state across the nation.

The Trump Administration has left researchers, universities, and health systems with great uncertainty about whether they can continue to support entire research programs and patient clinical trials across the country. Institutions and grantees nationwide are dealing with an unprecedented external communications “pause” enacted by new leadership at the U.S. Department of Health and Human Services, the lack of transparency regarding the Administration’s illegal funding freeze, and the uncertainty of how new Executive Orders would be applied to their critical work. These actions resulted in NIH freezing grant reviews and cancelling advisory meetings, delaying critical funding that scientists need to continue advancing new cures and treatments. These disruptions do not just slow research – they cost lives.

The NIH plays a critical role in our nation’s efforts to fund scientific advancements that improve health and save lives. Our standing as a world leader in funding and producing new medical and scientific innovations has been put at risk by these recent actions from the Trump Administration. We urge you to stop playing political games with the lifesaving work of the NIH and to allow NIH research to continue uninterrupted.

Sincerely,

MIL OSI USA News –

February 19, 2025
MIL-OSI USA: Heinrich, Luján Raise Alarm Over Trump Admin Pushing Illegal Funding Cuts to NIH & Derailing Lifesaving Research

US Senate News:

Source: US Senator for New Mexico Ben Ray Luján

New Mexico receives $125 million in NIH funding that supports over 1,400 jobs and generates nearly $290 million in economic activity

Heinrich and Luján: “The administration’s new policy means that research will come to a halt, sick kids may not get the treatment they need, and clinical trials may shut down abruptly”

Washington, D.C. – U.S. Senators Martin Heinrich (D-N.M.) and Ben Ray Luján (D-NM), alongside 45 Senate Democrats, sent a letter to U.S. Department of Health and Human Services (HHS) Secretary Robert F. Kennedy, Jr. expressing serious concern over the Trump administration’s recent decisions that threaten to create a serious funding shortfall for research institutions in New Mexico, undermine progress on lifesaving scientific advancements, jeopardize the U.S. economy, and endanger the livelihoods of hundreds of thousands of workers.

“As the largest public funder of biomedical research in the world, the National Institutes of Health (NIH) plays a critical role in sustaining the research infrastructure necessary for scientific breakthroughs in cancer treatment, infectious disease prevention, and medical technology innovation, among many others. President Trump has wreaked havoc on the nation’s biomedical research system in recent weeks. In his first several days in office, President Trump imposed a hiring freeze, communications freeze, ban on travel, and cancellation of grant review and advisory panels that are necessary to advance research. While some of these efforts have been reversed, they continue to cause confusion and miscommunication among researchers and recipients of NIH funds,” the senators wrote.

This month, the NIH announced it would set the maximum reimbursement rate for indirect costs to 15% — creating a serious funding shortfall for research institutions of all types across the country. This move would dismantle the biomedical research system, stifle the development of new cures for diseases, and affect ongoing research important to New Mexicans such as clinical trial research at the University of New Mexico.

Importantly, this change is not a cost savings. It a cost transfer to organizations that cannot afford to pay the difference. This action by the Trump administration is unlawful — Congress’ bipartisan Labor-HHS-Education Appropriations Bill prohibits modifications to NIH’s indirect costs.

“This change to NIH’s indirect cost rate represents an indiscriminate funding cut that will be nothing short of catastrophic for the lifesaving research that patients and families are counting on. The administration’s new policy means that research will come to a halt, sick kids may not get the treatment they need, and clinical trials may shut down abruptly,” the senators wrote.

The senators point out that, in addition to the stifling impact on discovering new cures and ripping away treatment from those who need it, changes to NIH policy and communications threaten jobs in all 50 states and the District of Columbia. NIH research supported more than 1,400 jobs and spurred nearly $290 million in new economic activity in New Mexico during Fiscal Year 2023.

“The Trump Administration has left researchers, universities, and health systems with great uncertainty about whether they can continue to support entire research programs and patient clinical trials across the country. Institutions and grantees nationwide are dealing with an unprecedented external communications ‘pause’ enacted by new leadership at the U.S. Department of Health and Human Services, the lack of transparency regarding the Administration’s illegal funding freeze, and the uncertainty of how new Executive Orders would be applied to their critical work. These actions resulted in NIH freezing grant reviews and cancelling advisory meetings, delaying critical funding that scientists need to continue advancing new cures and treatments. These disruptions do not just slow research — they cost lives,” the senators continued.

“Our standing as a world leader in funding and producing new medical and scientific innovations has been put at risk by these recent actions from the Trump Administration. We urge you to stop playing political games with the lifesaving work of the NIH and to allow NIH research to continue uninterrupted,” the senators concluded.

Last week, a federal judge in Boston temporarily blocked the NIH rate cut and set a hearing for February 21^st.

The letter was led by U.S. Senator Patty Murray (D-Wash.). Alongside Heinrich and Luján, the letter was signed by U.S. Senators Angela Alsobrooks (D-Md.), Tammy Baldwin (D-Wis.), Michael Bennet (D-Colo.), Richard Blumenthal (D-Conn.), Lisa Blunt Rochester (D-Del.), Cory Booker (D-N.J.), Maria Cantwell (D-Wash.), Chris Coons (D-Del.), Catherine Cortez Masto (D-Nev.), Tammy Duckworth (D-Ill.), Dick Durbin (D-Ill.), John Fetterman (D-Pa.), Ruben Gallego (D-Ariz.), Kirsten Gillibrand (D-N.Y.), Maggie Hassan (D-N.H.), John Hickenlooper (D-Colo.), Mazie Hirono (D-Hawaii), Tim Kaine (D-Va.), Mark Kelly (D-Ariz.), Andy Kim (D-N.J.), Angus King (I-Maine), Amy Klobuchar (D-Minn.), Ed Markey (D-Mass.), Jeff Merkley (D-Ore.), Chris Murphy (D-Conn.), Jon Ossoff (D-Ga.), Alex Padilla (D-Calif.), Gary Peters (D-Mich.), Jack Reed (D-R.I.), Jacky Rosen (D-Nev.), Bernie Sanders (I-Vt.), Brian Schatz (D-Hawaii), Adam Schiff (D-Calif.), Chuck Schumer (D-N.Y.), Jeanne Shaheen (D-N.H.), Elissa Slotkin (D-Mich.), Tina Smith (D-Minn.), Chris Van Hollen (D-Md.), Mark Warner (D-Va.), Raphael Warnock (D-Ga.), Elizabeth Warren (D-Mass.), Peter Welch (D-Vt.), Sheldon Whitehouse (D-R.I.), and Ron Wyden (D-Ore.).

The text of the letter is here and below:

Dear Secretary Kennedy,

We write to express our serious concern with the Trump Administration’s recent decisions that threaten to undermine the nation’s biomedical research infrastructure and set us back generations. The steps the Trump Administration has taken will create a serious funding shortfall for research institutions nationwide, threaten to undermine progress on lifesaving scientific advancements, could cost the U.S. economy billions of dollars, and threaten the livelihoods of hundreds of thousands of workers.

As the largest public funder of biomedical research in the world, NIH plays a critical role in sustaining the research infrastructure necessary for scientific breakthroughs in cancer treatment, infectious disease prevention, and medical technology innovation, among many others. President Trump has wreaked havoc on the nation’s biomedical research system in recent weeks. In his first several days in office, President Trump imposed a hiring freeze, communications freeze, ban on travel, and cancellation of grant review and advisory panels that are necessary to advance research. While some of these efforts have been reversed, they continue to cause confusion and miscommunication among researchers and recipients of NIH funds.

Just last week, NIH announced an illegal plan to cap indirect cost rates that research institutions rely on. In capping indirect cost rates at 15 percent for NIH-funded grants, this policy would cut funding essential for conducting research, such as operating and maintaining laboratories, equipment, and research facilities. This change to NIH’s indirect cost rate represents an indiscriminate funding cut that will be nothing short of catastrophic for the lifesaving research that patients and families are counting on. The Administration’s new policy means that research will come to a halt, sick kids may not get the treatment they need, and clinical trials may shut down abruptly.

These confusing and harmful policy changes threaten patient safety. The strength of the American research enterprise – recognized as the best in the world – is built on Congress’ bipartisan commitment to supporting essential research infrastructure. This funding, which Congress has long appropriated on a bipartisan basis, fuels groundbreaking medical discoveries and cements the United States’ position as the global leader in biomedical research.

In addition to the stifling impact on discovering new cures and ripping away treatment from those who need it, changes to NIH policy and communications threaten jobs in all 50 states and the District of Columbia, with everyone from custodians, to research trainees, to scientists facing potential layoffs. NIH research supported more than 412,000 jobs and fueled nearly $93 billion in new economic activity in Fiscal Year 2023. Every dollar the NIH invests in research generates almost $2.50 in economic activity. These reckless policy changes not only threaten biomedical innovation and research, but also the livelihoods of thousands of workers in every state across the nation.

The Trump Administration has left researchers, universities, and health systems with great uncertainty about whether they can continue to support entire research programs and patient clinical trials across the country. Institutions and grantees nationwide are dealing with an unprecedented external communications “pause” enacted by new leadership at the U.S. Department of Health and Human Services, the lack of transparency regarding the Administration’s illegal funding freeze, and the uncertainty of how new Executive Orders would be applied to their critical work. These actions resulted in NIH freezing grant reviews and cancelling advisory meetings, delaying critical funding that scientists need to continue advancing new cures and treatments. These disruptions do not just slow research – they cost lives.

The NIH plays a critical role in our nation’s efforts to fund scientific advancements that improve health and save lives. Our standing as a world leader in funding and producing new medical and scientific innovations has been put at risk by these recent actions from the Trump Administration. We urge you to stop playing political games with the lifesaving work of the NIH and to allow NIH research to continue uninterrupted.

Sincerely,

MIL OSI USA News –

February 19, 2025
MIL-OSI Security: Ten Defendants Plead Guilty in Multimillion-Dollar Sports-Betting and Money Laundering Scheme

Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

BIRMINGHAM, Ala. – Ten men pleaded guilty this week to managing a multi-million-dollar sports-betting operation, announced United States Attorney Prim F. Escalona and Special Agent in Charge Demetrius Hardeman of the Internal Revenue Service Criminal Investigation, Atlanta Field Office.

Timothy J. Pughsley, 53, and Nathan Burdette, 39, of Birmingham, Alabama; Christopher Burdette, 32, of Chelsea, Alabama; Thomas Zito, 59, of Vestavia, Alabama; Gary Rapp, 46, of Lakeland, Tennessee; Mark Giaquinto, 52, of Upton, Massachusetts; Matthew Voorhees, 49, of Englewood, Colorado; David Richards, 39, of Las Vegas, Nevada; and Joshua Gentrup, 38, of Athens, Georgia, entered their guilty pleas before United States District Judge Madeline Haikala to conspiring to operate an illegal gambling business and to their participation in a money laundering conspiracy. Jonathan Lind, 46, of Birmingham, Alabama, also pleaded guilty to conspiring to operate an illegal gambling business. Sentencing hearings for the defendants are set in May 2025.

According to the plea agreements, Pughsley began operating a bookmaking organization at least 17 years ago. The organization eventually became known as “Red44,” and bookmaking and betting activities occurred online via an offshore server located in Costa Rica. It is estimated that the organization accepted over $2 billion in wagers during its existence. Within the plea agreements, the defendants—all senior agents within Red44—agreed to pay excise tax restitution totaling $19,777,382.61 to the IRS arising from their acceptance of wagers from sports betters across the U.S. and to satisfy any income tax obligations that remain outstanding.

“These guilty pleas are the end result of years of hard work by members of federal and state law enforcement agencies to enforce our nation’s gambling and tax laws,” Escalona said. “The defendants illegally accepted millions of dollars in wagers and lived lavishly while avoiding their excise tax obligations. This office will diligently pursue those who enrich themselves in violation of the law.”

“Excise tax evasion and illegal sports betting are not victimless crimes,” said Special Agent in Charge Hardeman. “Money obtained from illegal gambling operations is often used to finance other criminal activities. IRS-CI special agents are skilled at following the money to investigate and expose these illegal organizations, who will be held accountable. Thank you to our local, state, and federal partners who assisted in this investigation.”

IRS-Criminal Investigation and Homeland Security Investigations investigated the case, with assistance from the Vestavia Hills Police Department, Shelby County Sheriff’s Office, Alabama Department of Revenue, and Federal Bureau of Investigation. Assistant United States Attorneys Catherine Crosby, Kristen Osborne, and Ryan Rummage are prosecuting the case.

MIL Security OSI –

February 19, 2025
MIL-OSI USA: ICE Philadelphia apprehends alien previously arrested for multiple criminal offenses

Source: US Immigration and Customs Enforcement

YORK, Pa. – U.S. Immigration and Customs Enforcement arrested Noel Chinchilla-Avilez, a citizen of Honduras with a final order of removal, in York, Pennsylvania, Feb. 14. Chinchilla-Avilez has been charged with statutory rape and receiving stolen property in the United States.

“The arrest of Noel Chinchilla-Avilez, a criminal alien with a history of serious offenses, highlights our unwavering commitment to public safety. Our officers work tirelessly to protect our communities by removing individuals who pose a threat to our nation’s security,” said ICE Enforcement and Removal Operations Philadelphia acting Field Office Director Brian McShane. “We will continue to prioritize the safety and wellbeing of the American public by ensuring that dangerous criminals are held accountable and removed from our streets.”

“Today’s operation displays the dedication and expertise of our ICE team in tracking criminals. By targeting individuals with serious criminal backgrounds, we are sending a clear message that there is no safe-haven for those who commit heinous acts,” said ICE Homeland Security Investigations Philadelphia Special Agent in Charge Edward V. Owens. “Operations like this demonstrate our commitment to upholding the rule of law and ensuring the safety of the American public.”

A federal arrest warrant for Chinchilla-Avilez was obtained from the U.S. District Court for the Middle District of Pennsylvania, Feb. 10, for violation of failure to depart.

Chinchilla-Avilez was transported to the U.S. District Courthouse in Harrisburg, Pennsylvania, after his arrest and is currently remanded to federal custody while pending criminal proceedings.

Members of the public who have information about foreign fugitives, transnational gang members or other criminal aliens who are in the U.S. illegally are urged to contact ICE by calling the ICE Tip Line at 1 (866) 347-2423 or internationally at 001-1802-872-6199. They can also file a tip online by completing ICE’s online tip form.

For more news and information on how ICE carries out its immigration enforcement mission in Pennsylvania, Delaware and West Virginia, follow us on X at @EROPhiladelphia.

MIL OSI USA News –

February 19, 2025
MIL-OSI USA: ICE Boston arrests Guatemalan national convicted in Massachusetts for Assault and Battery on a Family Member, Intimidation, Violation of the Abuse Prevention Act

Source: US Immigration and Customs Enforcement

BOSTON — U.S. Immigration and Customs Enforcement Boston apprehended an illegally present, 27-year-old Guatemalan national convicted in Massachusetts of three counts of assault and battery on a family member, intimidation, and violation of the Abuse Prevention Act. Officers with ICE Boston arrested Wilber Chinic-Villagran, Jan. 26, in Framingham, Massachusetts.

“Wilber Chinic-Villagran illegally came to the Commonwealth of Massachusetts and committed some horrendous crimes,” said ICE Enforcement and Removal Operations Boston acting Field Office Director Patricia H. Hyde. “We simply will not tolerate such a threat to the residents of our Massachusetts communities. ICE Boston will continue to prioritize public safety by arresting and removing egregious alien offenders from New England.”

U.S. Border Patrol arrested Chinic, July 28, 2020, after he illegally entered the United States near Laredo, Texas. USBP voluntarily returned Chinic to Mexico.

Chinic illegally re-entered the United States on an unknown date, at an unknown location, and without being inspected, admitted or paroled by a U.S. immigration official.

On Feb. 7, 2023, ICE lodged an immigration detainer and a warrant for arrest against Chinic with the Middlesex County House of Corrections in Billerica, Massachusetts, following his arrest by local authorities. However, on Feb. 28, 2023, the MCHOC informed ICE that Framingham District Court released Chinic without honoring the detainer.

ICE lodged another immigration detainer against Chinic, Sept. 22, 2024, with the MCHOC following another apprehension by local authorities.

The Framingham District Court convicted Chinic, Oct. 23, 2024, for two counts of assault and battery on a family/household member, intimidation, and violation of the Abuse Prevention Act. The Court sentenced Chinic to 18 months in prison. The court suspended all but four months of that sentence.

The Framingham District Court convicted Chinic December 24, 2024, for an additional count of assault and battery on a family/household member. The court sentenced Chinic to 18 months in prison. The court suspended all but 90 days of that sentence. Later that day, the MCHOC informed ICE that Framingham District Court released Chinic without honoring their immigration detainer.

Chinic remains in ICE custody.

Members of the public can report crimes and suspicious activity by dialing 866-DHS-2-ICE (866-347-2423) or completing the online tip form.

Learn more about ICE’s mission to increase public safety in our New England communities on X: @EROBoston.

MIL OSI USA News –

February 19, 2025
MIL-OSI Security: Former Guatemalan Congressman sentenced to 18 years in federal prison for international drug trafficking violations in the Eastern District of Texas

Source: Office of United States Attorneys

PLANO, Texas – A former Guatemalan congressman has been sentenced to 18 years in federal prison for his role in an international drug trafficking conspiracy, announced Acting U.S. Attorney Abe McGlothin, Jr. of the Eastern District of Texas.

Jose Armando Ubico Aguilar, 45, a former senior Republic of Guatemala official, pleaded guilty to being involved in an international drug trafficking conspiracy and was sentenced to 216 months in federal prison by U.S. District Judge Michael Truncale on February 11, 2025.

According to information presented in court, Ubico Aguilar served as an elected member of the Congress of the Republic of Guatemala from 2016 to 2024. He also served as an elected Deputy and was the President of the National Defense Committee of the Congress of the Republic of Guatemala from 2018 to 2023.

“The sentencing of this corrupt Guatemalan official who brokered and facilitated cocaine shipments into the United States while betraying his country through his partnerships with known drug traffickers and other corrupt officials shows the commitment of the Eastern District of Texas United States Attorney’s Office to identify, disrupt, and dismantle Transnational Criminal Organizations,” said Acting U.S. Attorney Abe McGlothin, Jr. “I am grateful to our law enforcement partners who worked tirelessly to ensure that Ubico Aguilar will no longer be allowed to hide behind his position of power.”

“The sentencing of this corrupt official who brokered and facilitated cocaine shipments into the United States sends a message to Transnational Criminal Organizations across the world that they will be held responsible for the poison they distribute into the United States,” said Dallas DEA Special Agent in Charge Eduardo A. Chávez. “This sentence reflects our continued resolve to partner with our international law-enforcement counterparts to fight greed, violence, and public corruption.”

On March 3, 2021, a federal grand jury in the Eastern District of Texas indicted Ubico Aguilar charging him with federal drug trafficking violations. In May 2024, Ubico Aguilar arrived in the United States and pleaded guilty. During his plea hearing, Ubico Aguilar admitted his role in the conspiracy, including relaying drug-related information and U.S. currency to another Guatemalan official on behalf of an international drug trafficker. These actions resulted in the safe passage of at least 450 kilograms of cocaine through Guatemala for distribution in the United States.

This effort is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) operation. OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF.

This case was investigated by the North Texas Organized Crime Drug Enforcement Task Force (“OCDETF”) Strike Force Group Two; the U.S. Drug Enforcement Administration’s Dallas Division; the DEA’s Guatemala City Country Office and the DEA’s San Jose (Costa Rica) Country Office; the FBI’s Dallas Field Office; the Homeland Security Investigation’s Dallas and Guatemala Field Offices; the U.S. Marshals Service’s Dallas Field Office; and Customs and Border Protection’s San Diego Field Office. The Justice Department’s Office of International Affairs of the Department’s Criminal Division also provided significant assistance in securing the surrender of Ubico Aguilar.

This case was prosecuted by Assistant U.S. Attorney Christopher Eason.

MIL Security OSI –

February 19, 2025
MIL-OSI Global: 5 ways to improve security governance and prevent future illegal mining tragedies from happening
Source: The Conversation – Canada – By Andrew Grant, Associate Professor of Political Studies, Queen’s University, Ontario

After six months trapped underground, roughly 246 illegal miners were rescued at Buffelsfontein gold mine in Stilfontein, South Africa, in mid-January following a court order and intense public outcry.

An estimated 2,000 miners had been trapped underground after police blocked food and water from families and supporters in an attempt to force them into surrendering for arrest. In total, 87 died, many from starvation or dehydration, according to civic groups. Some survivors reportedly resorted to eating cockroaches or the flesh of their deceased colleagues to survive.

Illegal miners, known as “zama zamas” in South Africa, are people who enter mining sites without authorization to extract leftover gold and other minerals, often under dangerous and exploitative conditions.

This incident highlights the current failures in security governance at abandoned mining sites. Rather than ensuring safety and protecting lives, the police response contributed to the scale of the tragedy.

To prevent similar tragedies, security governance at abandoned or closed mining sites must be improved, and inclusive policies that address employment needs must be implemented.

A dangerous occupation

As more mining sites in South Africa and across the world reach the end of their life cycles, the number of mine closures will increase, along with the need for more effective security governance.

The value of remaining minerals, combined with the dearth of alternatives to sustain livelihoods, has led some people to engage in illegal artisanal mining, despite the significant risks involved.

While illegal mining provides financial support for households in impoverished regions, it also releases pollutants into the environment, disrupts and degrades water resources and supports criminal networks.

South Africa is a prime example of these challenges. The country is home to an estimated 6,000 abandoned mines and 30,000 illegal miners. Security governance challenges are a major part of South Africa’s socioeconomic reality, and these challenges continue to grow despite government crackdowns in recent years.

Current enforcement efforts are doing little to address the decades of poor post-mine closure management. South Africa’s Petroleum and Mineral Resources Development Act requires mining companies to rehabilitate sites after closure, although compliance is sporadic, leaving communities and ecosystems at risk.

With limited job opportunities in the formal sectors of the economy, many young people aged 15 to 34 have turned to informal sectors, including illegal mining, due to its low entry barriers. Compounding the problem is the government’s failure to legally distinguish between illegal and informal mining.

5 ways to improve security governance

The Buffelsfontein incident is a grim reminder that security governance cannot rely solely on policing tactics. Addressing the worsening socioeconomic cycle of miners trapped in abandoned and uncontrolled mines will require governments, companies and local communities to build stronger relationships before crises arise.

Solutions must recognize that zama zamas work with no safety equipment and face daily threats from criminal syndicates who control mining territories. We propose five solutions that, together, address the socioeconomic and governance challenges:
1. The Petroleum and Mineral Resources Development Act should be amended so mining permits are only granted when firms provide a mine closure security plan. This plan must include physical barriers like fencing and sealed shafts, with local communities involved in security enforcement. Funding would come from an independent relinquishment fund via annual contributions over the active lifespan of the mine to an interest-earning annuity held by a local financial institution and monitored by government and civil society.
2. Security efforts should combine private security firms with community-based approaches, including hiring local residents in monitoring roles. This approach will foster trust, create jobs, improve security governance and enhance environment, social and governance (ESG) investment ratings.
3. Drawing from successful models in other countries like Chile, drones, unmanned aerial vehicles and artificial intelligence monitoring methods can help monitor and secure high-risk areas. When used ethically, such technologies can reduce unauthorized mining activities.
4. With unemployment in South African mining regions exceeding 40 per cent, governments and the private sector must focus on renewable energy, agriculture and entrepreneurship as economic alternatives for mining communities. Germany’s Emscher Park Project, for instance, has transformed coal mining regions into renewable energy hubs that create jobs and revitalize local economies. South Africa can also repurpose abandoned mining sites for such initiatives.
5. As South Africa turns its attention to critical minerals, it has an opportunity to expand its green bonds to include funding for post-closure financial recovery for mining communities. These funds could finance infrastructure projects, vocational training and education so mining communities can transition successfully to other economic sectors.
Lessons for Canada

Canada is no stranger to the challenges of managing mines after closure. Across the Yukon, Northwest Territories and northern parts of several provinces, tailing pond failures have led to environmental pollution during the post-closure phase of the mining cycle.

Investing in post-closure mine rehabilitation can prevent future harms to the environment, as well as enhance the human security of local communities. Green investors and sustainable finance funds like those informed by the Institute for Sustainable Finance must take a more active role in funding these efforts.

The Buffelsfontein tragedy should serve as a wake-up call: security governance must evolve from punitive enforcement to proactive protection. Providing alternative livelihoods to illegal mining weakens criminal networks, removes dangerous working conditions, reduces environmental harms and saves lives.

Though Canada is considered a mining superpower, it could learn valuable lessons from South Africa’s experience. Adopting our suggested solutions could help Canada address its own abandoned mine risks and ensure a more sustainable future for its mining communities.

Andrew Grant has received grants from the Social Sciences and Humanities Research Council of Canada

Benjamin Ofosu-Atuahene has received funding in the form of an Ontario Graduate Scholarship.

Olusola Ogunnubi has received funding from the Social Sciences and Humanities Research Council of Canada.

– ref. 5 ways to improve security governance and prevent future illegal mining tragedies from happening – https://theconversation.com/5-ways-to-improve-security-governance-and-prevent-future-illegal-mining-tragedies-from-happening-248741
MIL OSI – Global Reports –
February 19, 2025
MIL-OSI USA: Senator Luján Speaks at New Mexico Legislature

US Senate News:

Source: United States Senator Ben Ray Luján (D-New Mexico)

Video of the speech is available HERE.
Santa Fe, N.M. – On Presidents’ Day, U.S. Senator Ben Ray Luján (D-N.M.) delivered remarks to a joint session of the New Mexico Legislature at the New Mexico State Capitol.
“It’s always an honor to be back at the Roundhouse. As a proud son of New Mexico, I grew up witnessing the dedication and hard work of those who serve in the State Legislature. Through my dad and his colleagues, I learned the importance of working together, standing up for what’s right, and serving our fellow New Mexicans. I’ll always be a strong voice for our state, and I’m grateful for the partnership of the legislature.
“My job is to serve the people of New Mexico. Just last year, through constituent services, we saved New Mexicans millions of dollars—helping families, veterans, and small businesses navigate federal agencies. My team is committed to going above and beyond for our communities.
“I had the privilege of welcoming several guests for my address. One of them was Mariah Solano from Santa Fe. She had been denied life-saving cancer treatment by her insurance, but my office intervened. Thanks to the quick efforts of everyone involved, I’m happy to share that she is now receiving the care she needs. Another guest, Leo Maes, a beloved New Mexico musician, faced a life-altering medical emergency while traveling abroad, leaving him paralyzed from the neck down. My office worked closely with the State Department to coordinate his treatment and bring him home. Today, thanks to the grace of God and the incredible care of New Mexico’s medical professionals, he is not only recovering but walking again.
“No matter our political differences, our shared values and traditions as New Mexicans unite us. In challenging times, like those we face today, we must stand together, speak up, and look out for one another.”

MIL OSI USA News –

February 19, 2025
MIL-OSI Security: Guatemalan National Sentenced To 23 Months In Prison For Illegal Reentry In The United States

Source: Office of United States Attorneys

SCRANTON – The United States Attorney’s Office for the Middle District of Pennsylvania announced that Eddie Damian-Guillen, age 38, of Guatemala, was sentenced on February 13, 2025, to 23 months’ imprisonment by United States District Court Judge Malachy E. Mannion for illegal reentry into the United States by an illegal alien.

According to Acting United States Attorney John C. Gurganus, Damian-Guillen was encountered in the United States at Pike County Correctional Facility in Pennsylvania, having been arrested for driving under the influence of a controlled substance. Damian-Guillen was previously removed from the United States in 2003, 2004, and 2020. His removal in 2020 followed his conviction and sentence for assault in the first degree in Connecticut, in which he ran over a victim with his car following a bar fight.

Damian-Guillen will be removed from the United States following service of his sentence.

The case was investigated by the United States Immigration and Customs Enforcement and Removal Operations. Assistant U.S. Attorney Kyle A. Moreno prosecuted the case.

# # #

MIL Security OSI –

February 19, 2025
MIL-OSI Asia-Pac: Korea-Malaysia summit (November 2024)
Source: Government of the Republic of Korea

Korea-Latvia summit (November 2024)

President Yoon Suk Yeol on Nov. 28 hosted a summit at his office for visiting Latvian President Edgars Rinkevics on raising bilateral cooperation and analyzing regional and international situations.

Both leaders agreed to strengthen bilateral cooperation in sectors such as bio and pharmaceuticals, national security and the defense industry.

Korea-Malaysia summit (November 2024)

President Yoon Suk Yeol on Nov. 25 hosted summit talks in Seoul with Malaysian Prime Minister Anwar Ibrahim, who was on an official visit to Korea, and adopted a joint statement on their newly formed strategic partnership.

Both leaders welcomed the resumption of negotiations on a bilateral free trade agreement this year and agreed to accelerate efforts to conclude the deal next year. They also pledged to raise cooperation in infrastructure and supply chains for core minerals.
Korea-Peru summit (November 2024)

President Yoon Suk Yeol and Peruvian President Dina Boluarte on Nov. 16 held a bilateral summit at the Presidential Palace in Lima, Peru, and agreed to bolster cooperation in the defense sector and infrastructure.
The two countries concluded memorandums of understanding on joint production of KF-21 fighter jet parts, development of naval ships (submarines) and cooperation in army ground equipment.
- Current Affairs President Yoon’s visits to Peru, Brazil for APEC, G20
Korea-ASEAN summit (October 2024)

President Yoon Suk Yeol on Oct. 10 attended the 25th Association of Southeast Asian Nations (ASEAN) Summit at the National Convention Centre in Vientiane, Laos, where he and ASEAN leaders agreed to form a comprehensive strategic partnership and launch joint projects in a range of sectors.

They also agreed to stimulate trade and investment through a bilateral free trade agreement and the Regional Comprehensive Economic Partnership, while creating a “conducive and favourable environment” for ASEAN and Korean business such as the ASEAN-ROK (Republic of Korea) Business Council.
- Current Affairs President Yoon’s visit to 3 Asian nations
Korea-Japan summit (October 2024)

President Yoon Suk Yeol on Oct. 10 held a summit with Japanese Prime Minister Shigeru Ishiba at a hotel in Vientiane, Laos, their first talks since the prime minister assumed office on Sept. 1.

Both leaders agreed on the growing need to raise bilateral cooperation in regional and global issues and expand the horizons for such collaboration on the global stage.
- Current Affairs President Yoon’s visit to 3 Asian nations
Korea-Philippines summit (October 2024)

President Yoon Suk Yeol, on a state visit to the Philippines, on Oct. 7 agreed with Philippine President Ferdinand Marcos Jr to form a bilateral strategic partnership at their summit held at the presidential Malacanang Palace in Manila.

Both leaders also adopted a joint declaration on higher cooperation in all sectors including national security and economy like nuclear power plants.
- Current Affairs President Yoon’s visit to 3 Asian nations
Korea-Czechia summit (September 2024)

President Yoon Suk Yeol on Sept. 19 discussed with Czech President Petr Pavel in Prague cooperation in strategic sectors including nuclear power plants. Both leaders also shared opinions on developing their bilateral strategic partnership.

Korea-New Zealand summit (September 2024)

President Yoon Suk Yeol and New Zealand Prime Minister Christopher Luxon on Sept. 4 at their bilateral summit adopted a joint statement on stronger bilateral relations in trade, economy, science, human exchange, national security and international cooperation.

Both leaders also agreed to elevate their Partnership for the 21st Century concluded in 2006 to a comprehensive strategic partnership.
Korea-Germany summit (July 2024)

President Yoon Suk Yeol on July 10 in Washington held bilateral talks with German Chancellor Olaf Scholz on the sidelines of the NATO Summit.
President Yoon said he hopes to work more closely with Germany on global issues such as support for Ukraine, supply chain disruptions and the climate crisis. He also hailed Germany’s application to join the United Nations Command.
- Current Affairs President Yoon’s US visit for NATO Summit
Korea-Japan summit (July 2024)

President Yoon Suk Yeol on July 10 in Washington held bilateral talks with Japanese Prime Minister Fumio Kishida on the sidelines of the NATO Summit.
President Yoon said, “The recent signing by Russia and North Korea of a comprehensive strategic partnership treaty and their accelerated closeness in military and economic ties are raising serious concern over global security as well as that of East Asia.”
- Current Affairs President Yoon’s US visit for NATO Summit
MIL OSI Asia Pacific News –
February 19, 2025
MIL-OSI Asia-Pac: Korea-Latvia summit (November 2024)
Source: Government of the Republic of Korea

Korea-Latvia summit (November 2024)

President Yoon Suk Yeol on Nov. 28 hosted a summit at his office for visiting Latvian President Edgars Rinkevics on raising bilateral cooperation and analyzing regional and international situations.

Both leaders agreed to strengthen bilateral cooperation in sectors such as bio and pharmaceuticals, national security and the defense industry.

Korea-Malaysia summit (November 2024)

President Yoon Suk Yeol on Nov. 25 hosted summit talks in Seoul with Malaysian Prime Minister Anwar Ibrahim, who was on an official visit to Korea, and adopted a joint statement on their newly formed strategic partnership.

Both leaders welcomed the resumption of negotiations on a bilateral free trade agreement this year and agreed to accelerate efforts to conclude the deal next year. They also pledged to raise cooperation in infrastructure and supply chains for core minerals.
Korea-Peru summit (November 2024)

President Yoon Suk Yeol and Peruvian President Dina Boluarte on Nov. 16 held a bilateral summit at the Presidential Palace in Lima, Peru, and agreed to bolster cooperation in the defense sector and infrastructure.
The two countries concluded memorandums of understanding on joint production of KF-21 fighter jet parts, development of naval ships (submarines) and cooperation in army ground equipment.
- Current Affairs President Yoon’s visits to Peru, Brazil for APEC, G20
Korea-ASEAN summit (October 2024)

President Yoon Suk Yeol on Oct. 10 attended the 25th Association of Southeast Asian Nations (ASEAN) Summit at the National Convention Centre in Vientiane, Laos, where he and ASEAN leaders agreed to form a comprehensive strategic partnership and launch joint projects in a range of sectors.

They also agreed to stimulate trade and investment through a bilateral free trade agreement and the Regional Comprehensive Economic Partnership, while creating a “conducive and favourable environment” for ASEAN and Korean business such as the ASEAN-ROK (Republic of Korea) Business Council.
- Current Affairs President Yoon’s visit to 3 Asian nations
Korea-Japan summit (October 2024)

President Yoon Suk Yeol on Oct. 10 held a summit with Japanese Prime Minister Shigeru Ishiba at a hotel in Vientiane, Laos, their first talks since the prime minister assumed office on Sept. 1.

Both leaders agreed on the growing need to raise bilateral cooperation in regional and global issues and expand the horizons for such collaboration on the global stage.
- Current Affairs President Yoon’s visit to 3 Asian nations
Korea-Philippines summit (October 2024)

President Yoon Suk Yeol, on a state visit to the Philippines, on Oct. 7 agreed with Philippine President Ferdinand Marcos Jr to form a bilateral strategic partnership at their summit held at the presidential Malacanang Palace in Manila.

Both leaders also adopted a joint declaration on higher cooperation in all sectors including national security and economy like nuclear power plants.
- Current Affairs President Yoon’s visit to 3 Asian nations
Korea-Czechia summit (September 2024)

President Yoon Suk Yeol on Sept. 19 discussed with Czech President Petr Pavel in Prague cooperation in strategic sectors including nuclear power plants. Both leaders also shared opinions on developing their bilateral strategic partnership.

Korea-New Zealand summit (September 2024)

President Yoon Suk Yeol and New Zealand Prime Minister Christopher Luxon on Sept. 4 at their bilateral summit adopted a joint statement on stronger bilateral relations in trade, economy, science, human exchange, national security and international cooperation.

Both leaders also agreed to elevate their Partnership for the 21st Century concluded in 2006 to a comprehensive strategic partnership.
Korea-Germany summit (July 2024)

President Yoon Suk Yeol on July 10 in Washington held bilateral talks with German Chancellor Olaf Scholz on the sidelines of the NATO Summit.
President Yoon said he hopes to work more closely with Germany on global issues such as support for Ukraine, supply chain disruptions and the climate crisis. He also hailed Germany’s application to join the United Nations Command.
- Current Affairs President Yoon’s US visit for NATO Summit
Korea-Japan summit (July 2024)

President Yoon Suk Yeol on July 10 in Washington held bilateral talks with Japanese Prime Minister Fumio Kishida on the sidelines of the NATO Summit.
President Yoon said, “The recent signing by Russia and North Korea of a comprehensive strategic partnership treaty and their accelerated closeness in military and economic ties are raising serious concern over global security as well as that of East Asia.”
- Current Affairs President Yoon’s US visit for NATO Summit
MIL OSI Asia Pacific News –
February 19, 2025
MIL-OSI: Grupo Bolsa Mexicana de Valores Partners With IPC to Deploy Beeks Technology to Simplify the Process of Onboarding New Participants Into the Market
Source: GlobeNewswire (MIL-OSI)
- The launch of a new infrastructure for co-location reduces entry barriers for market participants, facilitating their operation in the Mexican financial markets.
- Deployment includes a primary site and an alternate site in Mexico City to provide greater security for all participants.
MEXICO CITY and GLASGOW, United Kingdom, Feb. 18, 2025 (GLOBE NEWSWIRE) — Grupo Bolsa Mexicana de Valores (BMV), with more than 130 years of experience, and IPC, a leading company in technology and services related to global financial markets, announced the signing of an agreement to launch the advanced Beeks’ technology infrastructure. The deployment includes primary and disaster recovery sites in Mexico City, providing a secure solution to support BMV’s market growth and innovation.

With the launch of this new infrastructure, set to go live in the second half of 2025, BMV will provide secure and scalable co-location services to its clients. This will allow clients to host their operations directly on the platform, eliminating the need for a proprietary site.

“This agreement allows us to deliver cutting-edge technology, with a low-latency infrastructure deployed locally in Mexico City. We are well-positioned to meet the evolving needs of our market participants, remain at the forefront of innovation and as a leader in the region.” said Jorge Alegría, CEO of Grupo BMV.

The agreement was signed with IPC as the contracting party; Beeks will manage end-to-end deployment of the Exchange infrastructure. Leveraging Beeks’ extensive expertise and proven technology, BMV members will benefit from a robust, flexible, and secure solution designed specifically for capital markets.

“Beeks technology offers a dedicated, fully managed infrastructure for exchanges and trading venues worldwide,” said Gordon McArthur, CEO of Beeks Group. “We are proud to partner with BMV and leverage our established relationship with IPC to deliver cutting-edge solutions to the financial markets. This two-site deployment will ensure resiliency, security and scalability, supporting BMV’s ambitions for growth and innovation in the market.”

IPC’s Tito Singh, CRO added: “This is a great example of the strength of our partnership strategy, working with the best suppliers to support our customer first approach. It reinforces our long-term relationship with Beeks and our ongoing collaboration to deliver innovative, market-leading solutions in the industry.”

By deploying Beeks technology, BMV is well positioned to attract liquidity, drive market access and reinforce its position as a leader in Latin America’s financial ecosystem.

About Grupo Bolsa Mexicana de Valores

The Mexican Stock Exchange with more than 130 years of experience makes it possible for the securities and derivatives market to operate in Mexico, through a group of leading companies that offer services in the capital, derivatives and debt markets, as well as post-trade services, information products and added value.

To learn more, visit www.bmv.com.mx/en/Grupo_BMV.

About IPC

IPC Systems, a leader in technology and specialized services that has driven global financial markets for more than 50 years, is at the forefront of next-generation e-commerce connectivity and cloud communications, setting the standard for exceptional service, innovation, and expertise.

IPC’s customer-centric approach is enhanced by an extensive and diverse financial ecosystem that spans all asset classes and connects market participants anywhere in the world to improve communication, collaboration, and compliance. Global services include e-commerce, business communications, and infrastructure-as-a-service solutions.

IPC is ideally positioned to anticipate change and stay aligned with rapidly changing markets, and to empower clients to adapt to change, now and in the future.

For more information, visit ipc.com

About Beeks

Beeks is a trusted technology partner offering a secure and scalable private infrastructure designed specifically for the financial markets. Our platform operates exclusively in dedicated environments, ensuring unprecedented compliance, performance, and control for capital markets participants.

With a focus on low-latency infrastructure-as-a-service, Beeks supports the trading activities of global banks, financial exchanges, asset managers, brokers, and independent software providers. Our solutions are independent of public cloud providers, yet fully compatible with hybrid configurations, offering a flexible, on-demand operating model with no costly upfront costs.

Beeks provides expert support 24 hours a day, seven days a week and a scalable infrastructure that evolves with your business needs, enabling fast time to market with deployments in days, not months. Our innovative offerings, including Beeks Analytics to improve data analytics and performance, demonstrate our commitment to delivering excellence and driving fintech growth.

To learn more about Beeks Group and its offerings, visit beeksgroup.com.

Media Contact

Martina Vargas on behalf of IPC
T: (352) 282-1294
marti@capvstrategies.com

The MIL Network –
February 19, 2025
MIL-OSI Global: Trump’s lurking assault on Canada rests on endless lies and irrational populism

Source: The Conversation – Canada – By Ilan Kapoor, Professor, Critical Development Studies, York University, Canada

United States President Donald Trump has temporarily put his trade war against Canada and Mexico on hold after vowing to slap 25 per cent tariffs on most Canadian and Mexican imports, although he’s imposed tariffs on all steel and aluminum, including from Canada.

He has also upped the ante by threatening to increase tariffs should Canada carry through on its own threat of retaliatory tariffs, with the possibility of further sanctions in the spring following a U.S. government study investigating ways to address the country’s trade deficits.

This is nothing less than an attempt at the economic subordination of Canada by its giant and — until very recently — friendly neighbour and ally. But what makes Trump’s impending trade war even more absurd is that it is based on a series of lies.

Trade, drugs, migrants, banks

Trump has claimed that the U.S. has a “US$200 or $250 billion” trade deficit with Canada. The American government’s own data show that the trade in goods deficit with Canada in 2024 was US$55 billion.

But when you factor in services (in technology or finance), an area in which the U.S. currently enjoys a trade surplus, the annual U.S.-Canada annual trade deficit falls to US$45 billion. And if you exclude energy exports, sold to the U.S. at a discount, the trade scales tip decidedly in favour of the U.S.

Then we also have Trump’s claim that tariffs are needed to penalize Canada for allowing an “invasion” of drugs (mainly fentanyl) and undocumented migrants into the U.S.

But once again, figures from his own government agencies show that only 1.5 per cent of migrants apprehended in 2024, and a mere 0.2 per cent of all fentanyl impounded at U.S. borders in 2024, originated in Canada.

Finally, just hours before the American reprieve on tariffs, Trump raised a new red herring: that Canada does not allow American banks into the country. But many U.S. banks do operate in Canada, making up half of the country’s foreign banking assets.

The grip of populism

So why such lies? I suggest that we need to look to nationalist populism for an explanation. A deep, often irrational, emotional bond underpins this form of populism.

Just as was the case in his 2016 election campaign, Trump’s 2024 campaign successfully tapped into people’s frustrations and anxieties over everything from high food prices to the housing crisis and rising precarious employment as he promised once more to “make America great again.”

Tariffs featured prominently, with Trump bidding to put “America First” by punishing the country’s three largest trading partners — Mexico, Canada and China — for their alleged “unfair” trade practices.

These types of seductive populist slogans unite people under a common banner, soothing their anxieties. But the accompanying peril is their dependence on the construction of national enemies to unify the nation. In 2016, Trump singled out Muslims and Mexicans. Today it is migrants, trans people and America’s supposed three main trading villains.

Dangerous sentiments

Trump’s populism is therefore built on irrational, if not dangerous, sentiments: blind fear, pridefulness, xenophobia, transphobia, racism and aggression.

No wonder he engages in both blatant falsehoods and unabashed bullying. His lies are integral to his continuing attempts to paint the U.S. as a victim, despite its global supremacy in many areas, thereby justifying attempts at subordinating America’s putative “enemies” and even its friends. Populist sentiment, precisely because it is rooted in the irrational exuberance of pride and unity, cares little about facts, logic or veracity.

A case in point is Trump’s affirmation that the U.S. is “subsidizing” Canada as a result of the trade deficit. The allegation contravenes any economic sense — trade deficits are the result of market-driven imports exceeding exports — yet its deployment here evokes the anxiety-producing prospect that Canada is ripping off American taxpayers.

Populist passion trumps rational argument. Bluster whips up national fervour.

Much ado about nothing

This is also why Canada’s efforts to appease Trump have yielded little to date. Days after Trump’s election win, Prime Minister Justin Trudeau was quick to visit him at his Florida estate in an attempt to reassure him on fentanyl and migrants.

The Canadian government then announced a $1.3 billion border security package and improved state oversight of the production of opioids.

In the days leading up to Trump’s tariff executive order, Canadian federal ministers and provincial premiers also frantically engaged in a public relations offensive (interviews on American TV, meetings with congressional lawmakers and Trump’s cabinet nominees) aimed at changing minds. All to no avail.

Trump finally blinked only a few hours before the Feb. 4 tariff deadline. All it took was the offer by Trudeau of measures that, for the most part, had already been included in the previously announced border security/fentanyl measures. It seems the repackaged deal was enough to allow the president to declare a victory, while granting Canada a mere temporary reprieve.

Read more:
Trump’s tariff threats show the brute power of an imperial presidency

So all in all, much ado about not too much. Lots of theatrics and brinkmanship, but little advancement, especially on the supposed main problem to be addressed — trade deficits.

The Trump administration has basically stuck to its populist platform, providing more evidence that rational decision-making does not play a role.

Quite the opposite, in fact: attempts to appease Trump appear to have been taken as proof that his threats work, and more demands are undoubtedly in store. That’s evident by the continuing prospect of tariffs in March and the possibility of more to come afterwards (including on steel and aluminum).

Self-defeating irrationality

Trump’s tariff war is senseless. If the measures go ahead, they could plunge Canada into a painful recession requiring state stimulus to support the economy and jobs, and retaliatory and counter-retaliatory trade measures.

This may well be Trump’s intention — he has declared he wants to annex Canada by “economic force” — but it is likely to backfire. Any future trade war will harm not just Canada, Mexico and China, but also the U.S.

Canada’s counter-tariffs target Red States, where Trump derives most of his electoral support.

And given the American dependence on Canada for some 50 per cent of its crude oil imports, Canada’s nuclear option is to impose export tariffs on oil to the U.S. That would cause American prices at the pump to increase dramatically overnight and prove highly unpopular.

In the longer term, then, no one stands to win as a consequence of Trump’s irrational populist policy-making. In the meantime, expect not much else from Trump’s administration than more unpredictability, brinkmanship, intimidation … and, yes, lies.

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

– ref. Trump’s lurking assault on Canada rests on endless lies and irrational populism – https://theconversation.com/trumps-lurking-assault-on-canada-rests-on-endless-lies-and-irrational-populism-249256

MIL OSI – Global Reports –

February 19, 2025
MIL-OSI: Visited App Releases List of Top Travel Destinations in 2024

Source: GlobeNewswire (MIL-OSI)

TORONTO, Feb. 18, 2025 (GLOBE NEWSWIRE) — The travel app, Visited, by Arriving In High Heels Corporation, has published a travel report which showcases top travel trends around the world with highlight of 2024 travels.

Visited is a travel tracking app, which lets users map out their travel journey, mark famous places visited on travel lists and helps with trip planning for their itinerary feature. It is the ultimate travel bucket list planning app, as it has over 150 travel lists available from ancient sites to golf destinations. The app is available in 30 languages for both iOS or Android and is free to download.

According to Visited’s travel stats, the average global traveler has been to 18 countries. While American travelers have been to 23. Travelers from the United Arab Emirates have visited the most countries, with an average of 30 countries visited. Swiss and Finnish travelers came in second and third as the most well-traveled. The most popular countries to visit are France, Spain, Italy, Germany, the UK, and the U.S.

The most sought-after places to visit are Australia, Japan, New Zealand and Brazil. The top destinations that American travelers want to travel to include Australia, Greece, and New Zealand. The highest numbers of American users have traveled to Mexico, Canada, France, the UK, and Italy.

The most popular travel destinations in the world in 2024 were in Europe, while the U.S. is in 12^th spot, Turkey is in 10^th spot and Thailand is in 15^th spot. For American travelers, 2024 saw the UK, Portugal and Japan topping the list of the most visited countries.

The most popular travel lists are world wonders, capitals of the world and culinary experiences.

The travel report was compiled based on 2.4 million international users and over 300,000 U.S. users. To see more top travel lists and browse top destinations worldwide, download Visited on iOS or Android. For the full travel report, visit https://visitedapp.com/travel-report-results/

To learn more about the Visited app, visit https://visitedapp.com.

About Arriving In High Heels Corporation

Arriving In High Heels Corporation is a mobile app company with apps including Pay Off Debt, X-Walk, and Visited, their most popular app. Visited Media provides customized travel research services to travel companies.

Contact Information

Anna Kayfitz

anna@arrivinginhighheels.com

The MIL Network –

February 19, 2025
MIL-OSI: WSO2Con 2025 to Showcase How Enterprises Can Embrace ‘Platformless Modernization’ to Drive Innovation
Source: GlobeNewswire (MIL-OSI)

Austin, TX, Feb. 18, 2025 (GLOBE NEWSWIRE) — WSO2Con 2025 will empower enterprises to embrace ‘Platformless Modernization’ by showcasing real-world strategies, expert insights, and innovations that simplify development, accelerate digital transformation, and future-proof IT infrastructures. Keynotes, customer stories and technical discussions during the three-day event will explore and deep-dive into how enterprises can transform digital innovation by eliminating the complexities of traditional platforms either by adopting an enterprise-grade internal developer platform or leveraging software-as-a-service offerings to build your own. The event will take place from March 18 to 20, 2025, in Barcelona, Spain, at the Palau de Congressos de Catalunya.

Delivering a platform experience without the complexity

Platformless modernization aims to redefine how organizations build, deploy, and manage applications. Traditional platforms often come with operational overhead, requiring businesses to maintain infrastructure and navigate complex configurations. A platformless approach removes these burdens, making the platform layer invisible to developers, so they can focus on just building innovative applications and providing better digital experiences to their customers and users.

At WSO2Con 2025, WSO2 executives and industry experts will explore what platformless modernization means for enterprises, offering insights into:
- How businesses can deliver developer-friendly experiences without the overhead of managing platforms
- Strategies for enabling rapid, secure, and scalable application development powered by API management, integration, and identity solutions
- The role of internal developer platforms (IDPs) in modernizing software delivery with AI, Kubernetes, and cloud-native architectures
Insightful keynotes and customer success stories

The conference will feature a distinguished lineup of keynote speakers. In his opening keynote, WSO2’s Founder and CEO, Dr. Sanjiva Weerawarana will discuss the vision for platformless modernization with WSO2 technical experts providing in-depth sessions on how platformless is shaping the future of integration, API management and identity & access management.

Jeremy Schneider, Senior Partner & Co-Head of Global Software & High-Tech Practice, McKinsey and Company will provide a framework for navigating evolution in the digital economy in his keynote Every Company is a Software Company. In other keynote presentations, Amy Bingham, vice president & chief information officer at Pekin Insurance will share learnings on how Pekin turned a challenging year of unprecedented setbacks into a story of resilience, rebuilding, and long-term success in an increasingly unpredictable world. Jonathan Pearl, executive director – technology product management at financial services company, BNY Mellon, will explore the power of APIs and how they can be used to drive modernization, innovation and collaboration – both internally and externally. He will discuss the key principles and best practices for designing, building, discovering and governing APIs, as well as the cultural and organizational changes needed to successfully support an API first strategy.

Registration for WSO2Con 2025 is still open with a flash sale from February 18 to 21, 2025. To register and view the full agenda, visit https://wso2.com/wso2con/2025/.

About WSO2

Founded in 2005, WSO2 is the largest independent software vendor providing open-source API management, integration, and identity and access management (IAM) products. WSO2’s products and platforms—including our next-gen internal developer platform, Choreo—empower organizations to leverage the full potential of APIs for secure delivery of digital services and applications, enabling thousands of enterprises in over 90 countries globally to drive their digital transformation journeys. Our open-source, API-first approach frees developers and architects from vendor lock-in, enabling rapid digital product creation. Recognized as leaders by industry analysts, WSO2 has over 800 employees worldwide with offices in Australia, Brazil, Germany, India, Spain, Sri Lanka, the UAE, the UK, and the US, with USD100M in annual recurring revenue. Visit https://wso2.com to learn more. Follow WSO2 on LinkedIn and X (formerly Twitter).

Trademarks and registered trademarks are the properties of their respective owners.

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The MIL Network –
February 19, 2025

Category: Latin America

Updates to this page

A dangerous occupation

5 ways to improve security governance

Lessons for Canada

Trade, drugs, migrants, banks

The grip of populism

Dangerous sentiments

Much ado about nothing

Self-defeating irrationality