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One stock that has provided stellar returns for its shareholders since its 2016 initial public offering (IPO) is Kinsale Capital (NYSE: KNSL). That's because people and businesses are always looking to protect themselves from risks such as weather-related events, liability protection, or cybersecurity attacks.
a huge increase in post-closing indemnification claims for breach of the no undisclosed liabilities seller representation [8] ). He leverages his extensive expertise and SRSAcquiom proprietary data to produce resourceful content regularly utilized by market practitioners. Lessons were and continue to be learned. Kip received his J.D.
Doing this puts the probabilities more on their side, with the bonus that fewer regulatory headaches, legal liability, and compliance issues occur – they more or less go away if you manage this kind of model properly. Previously : Bill Miller: Closet Indexers Are Killing Active Investing (October 28, 2016). Fiduciary Rule.
Kinsale Capital specializes in this specialty insurance , writing policies that cover small business casualty, construction, professional liability, and aviation, to name a few. Its management team has decades of experience in the industry, and its platform leverages its data and knowledge to analyze trends and price policies accordingly.
Additionally, we are leveraging innovation as a strategic differentiating tool to meet available demand and stay ahead of market trends. On the technology front, Newmar is beginning to leverage advanced 3D product development technology to successfully reduce the time to market for innovative products like its Super C Grand Star.
We started to develop third-party business back in 2016, focusing in the Midland and the Delaware Basins. The combination of the primary equity issuance and extending our debt to 2029 improved Delek Logistics' ability to pursue its growth plans through improved leverage and financial liquidity. We have come a long way with DKL.
Across the world, we're continuing to win in the market by leveraging our scale and relying on our local expertise of our bottling partners. Our balance sheet remains strong and our net debt leverage of 1.6 I had a question as it pertains to the Fairlife liability. This payment has grown as Fairlife has outperformed.
Economic leverage ticked down slightly to 5.7 This new partnership in conjunction with our existing recapture agreements should allow Annaly to leverage best-in-class industry partners without taking on the operational leverage and earnings cyclicality of an originator. And our leverage was down a touch heading into the quarter.
They operate as a closed system, leveraging existing reserves and capital, current premiums, as well as future new premiums under the LTC MYRAP plan to cover future claims and other obligations. Our second strategic priority is to leverage Genworth's LTC expertise to develop new, innovative aging services and solutions.
LTC had an adjusted operating loss of 71 million, driven by a liability remeasurement loss under LDTI. Turning to the next strategic priority, we continue to leverage Genworth's LTC expertise to develop innovative agent care solutions. Enact again had a very strong quarter with adjusted operating income of 134 million to Genworth.
Ashley Cordova -- Chief Financial Officer The only other thing I would add is this is the beauty of having a multi-indication platform is we get to leverage our experience and the knowledge that we built up in GBM directly into the lung cancer indication. 2025 is the demand generation here. Operator Thank you.
We've been an AI-first company since 2016, pioneering many of the modern breakthroughs that power AI progress for us and for the industry. You can imagine we started building TPUs in 2016. So it's a very leveraged way to do it, and I see that as a real opportunity ahead. First, our foundation of research leadership.
We leverage the Activate platform daily within our organization. And the most exciting part is that we're just getting started, and we have significant opportunity ahead of us to continue to leverage our partners and our learnings. Since 2016, we have closed 495 stores. Now, let's briefly review our Q2 marketing results.
And since that time, we've been an active contributor to its growth by leveraging our pharmaceutical grade cultivation and science driven approach to product innovation. In the first half of 2023, we saw close to 320,000 new approvals and this represents a significant increase since July of say, 2016.
Since 2016, we have paid 3.6 We look forward to leveraging our industry expertise and scale to drive operating efficiency and accelerate growth across platforms with attractive market opportunities and return profiles over time. And finally, we fuel our commitment to deliver positive operating leverage. Turning to Slide 14.
First, we're expanding in payments by continuing to win deals with a diverse set of customers, powering growth and acceptance, capturing a prioritized set of new payment flows, and exploring new ways to ensure payment choice by leveraging multiple alternatives, including card rails, ACH, blockchain, and open banking.
But if I look at your claim -- reported claim counts that you give in your statutory data, for other liability, it's down significantly for 2023 accident year. So I don't know if there's a data thing there or not, but reported claim counts at 12 months or 15% down in other liability. It is a severity issue that we're seeing there.
This activity is consistent with how customers are spending money in the 2016 to 2019 timeframe. With NII now growing and complementing our fee growth along with our continued solid expense discipline, we expect to return to operating leverage as we move through the quarters in 2025. After having fallen in the spring and early summer.
NAV is defined as total assets minus total liabilities and is also reported on a per-share basis. Following my comments, David and Jesse will provide additional comments regarding our investment strategy, investment portfolio, financial results, capital structure and leverage, and our expectations for the third quarter of 2024.
Eric has been part of our leadership team since 2016 and will be focused on reigniting growth, championing the Okta Secure Identity Commitment and building on Okta's reputation as the world's identity company. We've demonstrated exceptional leverage in our model and are positioned to deliver profitable growth for years to come.
We also continue to leverage data to create a more flexible, efficient, and intelligent network. full swing of implementation to leverage the expertise that John Smith and his team bring on the U.S. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
For example, Victory Hospitality Group in Portland, Maine, recently launched three markets on Toast in addition to their portfolio of award-winning restaurants that have been with us since 2016. Generative AI and leverage that in our CRM tool. So first, scaling restaurant locations and gaining share in our core business.
And is there maybe a pull-forward of some expenses from next year in order to position you for improved positive operating leverage? So, it's important when you consider all this, our revenue and expense, that we are firmly committed to generating positive operating leverage over the back half of 2024. Matthew O'Connor -- Analyst OK.
We are well-positioned to drive growth for HashiCorp by leveraging IBM's enterprise incumbency and global reach. We have leveraged watsonx to build AI assistance through our software portfolio. And finally, we are seeing our infrastructure segment play a larger role as clients leverage their hardware investments in their AI strategies.
From 2016 through 2020, Maravai acquired companies, including TriLink BioTechnologies and Cygnus Technologies in 2016, Glen Research in 2017. The capability and infrastructure additions that came from pandemic-era investments give us a foundation for exceptional operating leverage going forward. This was Maravai 1.0,
Furthermore, from a risk management perspective, we view these credit investments as a prudent, natural hedge to the inherent rate exposure as we have on the liability side of our balance sheet. To that end, we ended the second quarter with leverage at 5.3 This was the 25th consecutive quarter of leverage at 5.5
Meanwhile, our leverage profile continues to improve as free cash flow grows, allowing us to increase the return of capital to shareholders through the recurring dividend and opportunistic share repurchases. Our strong free cash flow and liquidity profile allows us to reduce leverage while returning capital to shareholders.
Prismic will enhance our mutually reinforcing business system and drive future growth by leveraging our differentiated brands, global asset and liability origination capabilities, and multichannel distribution. In addition, we entered into a reinsurance agreement with Somerset Re for a $12.5 Turning to Slide 5.
When the company acquired the building in 2013 (it paid $850 million for a majority stake, then bought the remaining interest in 2016 for $913 million), it financed it with a $1 billion CMBS loan based on an appraised value of $2 billion. Brotschol said that at about 50 percent loan-to-value, the mortgage was conservatively leveraged.
Over 50% of that revenue growth coming from our non-rates businesses with nearly 40% of the revenue growth coming from our international business, which has averaged 18% since 2016. Excluding the impact of acquisitions, the midpoint of this range would represent an approximate 10% increase in line with our average expense growth from 2016.
NAV is defined as total assets minus total liabilities and is reported on a per share basis. From year-end 2016 through the second quarter of this year, we have increased the total fair value of our private loan portfolio by 337% and from 17% of our total portfolio at fair value to 35%. NAV per share increased by $0.46 times to 0.9
Across the world, we are leveraging our scale and local expertise to navigate varying local market dynamics. In Japan and South Korea, we had solid volume growth and won value share due to good traction on brand relaunches which leveraged enhanced taste and refreshed packaging and stepped-up performance in e-commerce channels.
They started with Cloudflare back in 2016 as a free customer and today use nearly all our products, spanning use cases as diverse as remote application access, workers, serverless development, and bot management. Just really impressive operating leverage in the model and a strong guide for the year. million contract, $7.2
The number one, we got to maintain our persistence in Medicare and commercial to grow this base business and leverage the $35 insulin copay that currently exists for Medicare and commercial insured. Thus, the upfront proceeds recorded as a liability for future sales of royalties, not as revenue. So, coverage, we know, is the No.
In late 2016, they had a deficit of more than $500 billion. A more strategic route is actively cultivating the surplus and leveraging it as an M&A tool. Remember pensions are all about managing assets and liabilities. Kraft Heinz Co. and Johnson & Johnson — were sitting on a combined $137 billion surplus as of Feb.
We are doing this by enhancing our innovation playbook, accelerating sustainability and software offerings, increasing penetration of our installed base, and leveraging our leadership position in high-growth regions. Building Automation sales were down 3% organically.
We are aggressively managing four principal areas that are within our control, including cost of acquisition, cost to serve, cost of goods sold, and G&A, R&D leverage. In cost to serve, we have outsourced select operational activities and further leverage third-party expertise in information technology and services.
We are leveraging AI and decisioning logic across our solution, adding more value, and eliminating mundane nonrevenue-generating activities for our clients. With GONE, our time-off product leverages decisioning logic to automatically approve, deny, or warehouse time-off requests by employees. So we've been able to leverage that.
Better performance has helped us to reduce our net leverage ratio for the third consecutive quarter. Improving profits and strong cash management are also benefiting our net leverage, which declined sequentially again, coming in at three times in Q3, more than a full-turn lower than where we exited fiscal 2023. We ended Q3 with $4.8
In the second quarter, we grew both membership fee income and member count by 5% year over year, leveraging both our new and existing clubs, as well as growing digital acquisition. turns of net leverage, consistent with the prior two quarters. We reported second quarter adjusted EBITDA of $268.8 million of debt and 0.8
billion, leveraging optimization initiatives in certain capital investments. And then my second question is on the recent discussions in China to once again implement supply side reforms for the steel industry back in 2016, 2017, that was a big pain for the industry, which led to a significant curtailment of excess steel capacity.
Secondly, there is unique technology involved here and we've been working with Petrobras since 2016. But also in terms of our own internal cycle time and benefit and leverage, if you will, as we go more so conversion to 2.0 Looking more closely at these major trends, let's start with the shift in capital flows.
We are confident that our strategy and mutually reinforcing business mix, which leverages the combined strength of our brand, global asset and liability origination capabilities, and multi-channel distribution will enable us to drive future growth and continue to expand access to investing, insurance, and retirement security.
for an oral agent in NET since 2016. Furthermore, the commercial organization would be well-positioned to leverage the RCC team infrastructure to achieve synergy in a new GU oncology indication. One, we really -- as I mentioned in my prepared remarks, we can leverage our existing RCC infrastructure. So, we're excited about this.
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