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AM Best Affirms Credit Ratings of Third Point Reinsurance Ltd. and Its Subsidiaries; Revises Outlooks to Negative

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OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has revised the outlooks to negative from stable and
affirmed the Financial Strength Rating of A- (Excellent) and the
Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of Third Point
Reinsurance Company Ltd. (Bermuda) and Third Point Reinsurance (USA)
Ltd. (Bermuda). AM Best also has revised the outlooks to negative from
stable and affirmed the Long-Term ICRs of “bbb-” of Third Point
Re (USA) Holdings, Inc. (TP USA) (Wilmington, DE) and its
ultimate holding company, Third Point Reinsurance Ltd. (TPRE) (Bermuda).
Concurrently, AM Best has revised the outlook to negative from stable
and affirmed the Long-Term Issue Credit Rating of “bbb-” on the $115
million 7% fixed senior unsecured notes due 2025 of TP USA.

The ratings reflect TPRE’s balance sheet strength, which AM Best
categorizes as very strong, as well as its marginal operating
performance, neutral business profile and appropriate enterprise risk
management.

The negative outlooks reflect AM Best’s concern over the company’s
business profile given its prolonged inability to generate an
underwriting profit, which has resulted in an average combined ratio of
105.6% for the five years from 2014 to 2018. Furthermore, recent changes
in senior management will need to prove beneficial to TPRE’s market
profile over the medium to long term. The company will need to enhance
its business profile gradually and achieve a core portfolio of business
that can deliver a sustainable level of technical profitability going
forward.

TPRE’s risk-adjusted capitalization, as measured by Best’s Capital
Adequacy Ratio (BCAR), was categorized as strongest as of year-end 2018.
Although surplus has trended down over the past five years (2018-2014),
AM Best expects the company to continue to run its operations while
maintaining the strongest BCAR level. An offsetting factor in AM Best’s
balance sheet strength assessment is TPRE’s high-risk investment
appetite, which exposes its capital to potential short-term volatility.
However, AM Best believes that the company’s investment adviser, Third
Point LLC, has begun to take appropriate actions to mitigate this risk
and stabilize investment earnings going forward.

TPRE has achieved a level of marginal operating results on average over
recent years. The company has not reported an underwriting profit since
inception, and its investment results have been volatile and below AM
Best’s expectations over the cycle. AM Best will continue to monitor the
company’s underwriting performance closely in future years.

TPRE has a diversified reinsurance portfolio that historically focused
on quota shares of lines of business with lower volatility. The company
recently hired senior underwriters with extensive experience and began
expanding into higher margin lines of business, including property
catastrophe and specialty reinsurance. TPRE has established strong
relationships with reinsurance brokers and progressively grown its
business footprint despite challenging market conditions. Additionally,
AM Best considers risk management capabilities to be appropriate for
TPRE’s risk profile.

This press release relates to Credit Ratings that have been published
on AM Best’s website. For all rating information relating to the release
and pertinent disclosures, including details of the office responsible
for issuing each of the individual ratings referenced in this release,
please see AM Best’s
Recent
Rating Activity
web page. For additional information
regarding the use and limitations of Credit Rating opinions, please view
Understanding
Best’s Credit Ratings
. For information on the proper media
use of Best’s Credit Ratings and AM Best press releases, please view
Guide
for Media – Proper Use of Best’s Credit Ratings and AM Best Rating
Action Press Releases
.

AM Best is a global rating agency and information provider with a
unique focus on the insurance industry. Visit
www.ambest.com
for more information
.

Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its
affiliates. ALL RIGHTS RESERVED.

Contacts

Darian Ryan
Senior Financial Analyst
+1 908
439 2200, ext. 5449

darian.ryan@ambest.com

Steven
Chirico, CPA

Director
+1 908 439 2200, ext. 5087
steven.chirico@ambest.com

Christopher
Sharkey

Manager, Public Relations
+1 908 439
2200, ext. 5159

christopher.sharkey@ambest.com

Jim
Peavy

Director, Public Relations
+1 908 439
2200, ext. 5644

james.peavy@ambest.com

AM Best Affirms Credit Ratings of The Allstate Corporation and Its Key Subsidiaries

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OLDWICK, N.J.–(BUSINESS WIRE)–AM Best affirmed the Financial Strength Rating (FSR) of A+
(Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of
“aa” of the members of Allstate Insurance Group (Allstate).
Additionally, AM Best has affirmed the FSR of A (Excellent) and the
Long-Term ICRs of “a” of the members of Allstate New Jersey Insurance
Group (collectively referred to as Allstate New Jersey) (headquartered
in Bridgewater, NJ). Concurrently, AM Best has affirmed the FSR of A+
(Superior) and the Long-Term ICRs of “aa” of the key life/health members
of the Allstate Life Group (Allstate Life). At the same time, AM Best
has affirmed the Long-Term ICR of “a”, and all existing Long- and
Short-Term Issue Credit Ratings (Long-Term IR; Short-Term IR) of the
ultimate parent, The Allstate Corporation (Allcorp). The outlook of
these Credit Ratings (ratings) is stable.

All the above named companies are headquartered in Northbrook, IL,
except where specified. (See link below for a detailed listing of the
companies and ratings.)

The ratings of Allstate reflect its balance sheet strength, which AM
Best categorizes as strongest, as well as its strong operating
performance, favorable business profile and very strong enterprise risk
management (ERM).

Allstate’s strong capital position reflects its favorable earnings,
which have contributed to organic surplus growth in each of the past
five years on a pre-dividend basis. Allstate’s operating results
continue to be favorable due to enhanced pricing sophistication, and
improved loss cost and expense management while maintaining underwriting
discipline. Additionally, Allstate has a significant market presence and
favorable overall business profile as one of the largest personal lines
writers in the United States. Allstate also benefits from the additional
liquidity provided by Allcorp and its subsidiary, Kennett Capital, Inc.,
and through access to capital markets, lines of credit and its
commercial paper program. The group’s favorable margins are attributable
to enhanced pricing accuracy and risk optimization, along with its solid
core underwriting capabilities, prudent capital management and sizable
investment income. Lastly, underwriting results also reflect the
favorable impact of Allstate’s ongoing risk management actions, various
expense management initiatives and its significant investment in
technology, as Allstate has shown the ability to adapt quickly to market
trends to ensure continued underwriting and operating profitability.

Partially offsetting these positive rating attributes is Allstate’s
inherent exposure to natural disasters due to its expansive market
presence throughout the United States. However, Allstate over the past
several years has maintained an extensive catastrophe risk exposure
management program, including a significantly enhanced property
catastrophe reinsurance program, stricter underwriting guidelines,
increased deductibles and discontinuance of selected lines of coverage
such as earthquake. In addition, this expansive geographic presence
provides inherent diversification against the impact of one or a few
significant weather events. The group’s underwriting results in recent
years have benefited from these risk-management actions. While the group
maintains above-average underwriting and investment leverage, relative
to industry norms, it has maintained capital levels supportive of its
business risks.

The ratings of Allstate New Jersey reflect its balance sheet strength,
which AM Best categorizes as very strong, as well as its strong
operating performance, limited business profile and appropriate ERM.
Additionally, the ratings recognize the financial strength, ERM and
continued support of Allstate Insurance Company, as well as Allcorp.

Allstate New Jersey maintains favorable risk-adjusted capitalization,
consistently profitable operating performance and management’s local
market knowledge. These positive rating attributes are offset partially
by the group’s business concentration within one state, resulting in
potential operating variability due to local market disruptions and
localized catastrophe weather events. The ratings further recognize the
consistent profitability trends in underwriting in recent years, along
with the expectation that trends in capitalization and operating
performance will continue in the near to medium term.

The ratings of Allstate Life reflect its balance sheet strength, which
AM Best categorizes as very strong, as well as its strong operating
performance, favorable business profile and very strong ERM.
Additionally, the ratings recognize the financial strength and continued
support of Allstate Insurance Company, as well as Allcorp.

Allstate Life’s overall balance sheet strength assessment is supported
by its very strong risk-adjusted capitalization and favorable liquidity,
as well as the organization’s expertise in stress testing and economic
capital modeling. Partially offsetting these strengths are the company’s
somewhat higher level of investment risk as a percentage of capital and
surplus, which is also higher than industry benchmarks. This risk is
mitigated partially by the use of a barbell asset allocation strategy,
which allows for longer dated annuity liabilities to be backed by
alternative assets, and the utilization of cash flow duration-matched
assets for shorter dated liabilities.

Allstate Life’s strong operating performance benefits from its core
traditional life and voluntary benefit product sales growth and its
favorable underwriting results, which are enhanced by a consistent
stream of net investment income. The company continues to manage the
run-off of its declining, yet sizable, exposure to interest sensitive
business within its annuities segment. Allstate Life’s recognized market
presence and strength of distribution across the organization create
additional benefits and synergies that drive its ability to compete in
its core markets. The company continues to work toward further
enhancement of digital capabilities in order to create a streamlined
consumer experience and increased efficiency. Allstate Life benefits
from a very strong risk culture and governance that has been embedded
throughout the organization.

A complete
listing
of The Allstate Corporation and its property/casualty and
life/health subsidiaries’ FSRs, Long-Term ICRs and Long- and Short-Term
IRs also is available.

This press release relates to Credit Ratings that have been published
on AM Best’s website. For all rating information relating to the release
and pertinent disclosures, including details of the office responsible
for issuing each of the individual ratings referenced in this release,
please see AM Best’s
Recent
Rating Activity
web page. For additional information
regarding the use and limitations of Credit Rating opinions, please view
Understanding
Best’s Credit Ratings
. For information on the proper media
use of Best’s Credit Ratings and AM Best press releases, please view
Guide
for Media – Proper Use of Best’s Credit Ratings and AM Best Rating
Action Press Releases
.

AM Best is a global rating agency and information provider with a
unique focus on the insurance industry. Visit
www.ambest.com
for more information
.

Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its
affiliates. ALL RIGHTS RESERVED.

Contacts

Edin Imsirovic
Senior Financial Analyst – P/C
+1
908 439 2200, ext. 5740

edin.imsirovic@ambest.com

Christopher
Sharkey

Manager, Public Relations
+1 908 439
2200, ext. 5159

christopher.sharkey@ambest.com

Kate
Steffanelli

Senior Financial Analyst- L/H
+1 908
439 2200, ext. 5063

kate.steffanelli@ambest.com

Jim
Peavy

Director, Public Relations
+1 908 439
2200, ext. 5644

james.peavy@ambest.com

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TechTarget Integrates 1st and 3rd Party Intent Data within Priority Engine Platform to Help Companies Make Faster Sales and Marketing Progress with Best Fit Accounts

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Enhanced account prioritization and intelligence combines
relevant TechTarget intent, fit and customer engagement data to improve
sales and marketing conversions

NEWTON, Mass.–(BUSINESS WIRE)–TechTarget,
Inc.
 (Nasdaq: TTGT), the global leader in B2B technology purchase
intent data and services today announced the release of enhanced account
rankings and insights in IT Deal Alert Priority
Engine
TM, fueled by 1st and 3rd
party purchase intent data. Marketing and sales teams will now be able
to leverage this new intelligence to get to the right accounts and
prospects faster, increasing conversions and accelerating pipeline.

“TechTarget has always focused on delivering ROI,” said Michael Cotoia,
CEO, TechTarget. “These new updates now make it even easier for our
customers to close deals faster by helping them find the prospects that
are directly in their sweet spot.”

TechTarget’s Priority Engine is a SaaS-based platform that delivers
direct access to the most active in-market accounts and fully
permissioned prospects doing purchase research in specific technology
markets. In addition to providing exclusive third-party intent insights
on the topical interests of accounts, recency and relevancy of activity,
vendor consideration and installed technologies, TechTarget is now able
to integrate multiple first-party insights, such as Ideal Customer
Profile (ICP) matching, direct engagement on a vendor’s website and
specific interactions buyers have with a customer’s content and
advertising across the TechTarget network within the platform to deliver
vastly improved account prioritization capabilities. This latest release
provides better tools for enterprise technology marketing and sales
teams to more effectively reach and engage high value accounts within
their total addressable market, including:

  • Personalized account rankings that reflect organic research
    with TechTarget AND direct engagement with the customer to improve
    marketing and sales effectiveness.
  • Ideal Customer Profile creation and filtering directly within
    Priority Engine to efficiently find, track and convert identified best
    fit customers.
  • Enhanced qualification intelligence showcases the key
    attributes that make accounts high priority targets, including: buying
    stage, ICP match and if there is a confirmed project.
  • Improved engagement signals show you precisely when accounts
    visit your website, click on your banners and/or download your content.
  • Indicators of new and recent activities give sales users new
    reasons to call and help them engage the buying team with highly
    tailored outreach.

TechTarget, named a Leader in The Forrester WaveTM: B2B
Marketing Data Providers, Q3 2018, has cemented its leadership in its
space because of the significant value and ROI its customers achieve.
TechTarget purchase intent insight is uniquely powerful because of how
it is made and how it is delivered to B2B tech marketers and sales
professionals. The actionable insights within the Priority Engine
platform are achievable because of the depth of original
decision-support content spanning 10,000 unique IT topics across
TechTarget’s network of over 140 enterprise technology-specific websites
as well as the Company’s suite of marketing and sales engagement
services.

“Over the past six months we’ve been focused on bringing even more
actionable data into Priority Engine to help our customers more
efficiently identify and make progress with best fit accounts,” said
Andrew Briney, Senior Vice President of Products, TechTarget. “This
release marks a major milestone in these efforts and a big leap forward
for the platform.”

To learn more about Priority Engine, please or visit TechTarget.com/Priority-Engine.

About TechTarget

TechTarget
(Nasdaq: TTGT) is the global leader in purchase intent-driven marketing
and sales services that deliver business impact for enterprise
technology companies. By creating abundant, high-quality editorial
content across more than 140 highly targeted technology-specific
websites, TechTarget attracts and nurtures communities of technology
buyers researching their companies’ information technology needs. By
understanding these buyers’ content consumption behaviors, TechTarget
creates the purchase intent insights that fuel efficient and effective
marketing and sales activities for clients around the world.

TechTarget has offices in Boston, London, Munich, Paris, San Francisco,
Singapore and Sydney. For more information, visit techtarget.com
and follow us on Twitter @TechTarget.

(C) 2019 TechTarget, Inc. All rights reserved. TechTarget and the
TechTarget logo are registered trademarks and IT Deal Alert and Priority
Engine are trademarks of TechTarget. All other trademarks are the
property of their respective owners.

Contacts

Media Inquiries
Garrett Mann
Director of Marketing
TechTarget,
Inc.
617-431-9371
gmann@techtarget.com

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BlackRock Declares Quarterly Dividend of $3.30 on Common Stock

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NEW YORK–(BUSINESS WIRE)–BlackRock, Inc. (NYSE:BLK) today announced that its Board of Directors
has declared a quarterly cash dividend of $3.30 per share of common
stock, payable June 20, 2019 to shareholders of record at the close of
business on June 6, 2019.

About BlackRock

BlackRock helps investors build better financial futures. As a fiduciary
to investors and a leading provider of financial technology, our clients
turn to us for the solutions they need when planning for their most
important goals. As of March 31, 2019, the firm managed approximately
$6.52 trillion in assets on behalf of investors worldwide. For
additional information on BlackRock, please visit www.blackrock.com
| Twitter: @blackrock | Blog: www.blackrockblog.com
| LinkedIn: www.linkedin.com/company/blackrock.

Contacts

Investor Relations
Samantha Tortora
212-810-5397
samantha.tortora@blackrock.com

Media Relations
Brian Beades
212-810-5596
brian.beades@blackrock.com

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