Kresna Life Insurance prepares scheme to pay policyholders

first_imgPrivately-owned insurer PT Asuransi Jiwa Kresna (Kresna Life Insurance) is preparing a scheme to pay out its policyholders, as the company reels from the impact of COVID-19 on its finances.The company announced on May 14 that it would postpone insurance claim and benefit payments for Kresna Link Investa (K-LITA) and Protecto Investa Kresna (PIK) policyholders, citing force majeure as its reason.The details of the scheme will be disclosed to its policyholders as late as 30 days from the date of the notification letter issuance on May 14, Kresna Life announced in a statement on Monday. “The policyholders’ interest is our main priority. Therefore, we will continue to try our best to settle it in good faith by prioritizing our obligations to all policyholders,” president director Kurniadi Sastrawinata said in the statement.The insurer also asked policyholders for understanding, as it claimed the economic impacts of the COVID-19 pandemic were behind its failure to pay their policies.The economic and stock market crises caused by the pandemic have reportedly affected the insurer’s liquidity for its underlying investments, which led to it delaying and halting its policy payments temporarily, according to its notification letter.The delay applies to the payout for maturing policies from Feb. 11, 2020, to Feb. 10, 2021, as well as investment benefit payment claims due between May 14, 2020, and Feb. 10, 2021. “The adjustment to the amount of policy and investment benefits, along with the payment procedure, will be conducted after Feb. 11, 2021,” it stated.However, Kresna Life is not alone, as other insurers have encountered similar troubles.Previously, ailing life insurer Asuransi Jiwa Bersama (AJB) Bumiputera was said to have been facing difficulties paying its policyholders’ claims following turmoil within the insurer’s organization since 2016.State-owned insurer PT Asuransi Jiwasraya has also been in the spotlight following its failure to pay its customers’ matured policies worth Rp 16 trillion (US$1.07 billion) due to investment mismanagement.On Jan. 24, the AGO ordered the suspension of 800 securities accounts related to Jiwasraya as part of its ongoing investigation to uncover alleged corruption at the ailing insurer. The move led to privately-owned life insurer PT Asuransi Jiwa Adisarana Wanaartha (WanaArtha Life) suffering from liquidity problems.Topics :last_img read more

Kongsberg buying Rolls-Royce Commercial Marine for $660 million

first_imgIllustration. Image source: Rolls-RoyceNorway’s Kongsberg Group is set to buy Rolls-Royce Commercial Marine for half a billion British pounds, or around $661,4 million.Kongsberg said it was acquiring “a world-leading technology business within maritime operations,” which, on the other hand, has been struggling due to low offshore industry-related activity.Under the transaction, announced on Friday, Kongsberg will acquire Rolls-Royce Commercial Marine for around 500 million British Pounds.Rolls Royce said the enterprise value was £500 million, and its net proceeds would be around £350 million to £400 million.The final purchase price, however, will be determined based on Rolls-Royce Commercial Marine’s cash, debt and working capital at the time of completion of the transaction.Kongsberg on Friday said the combined would have entity equipment and deliveries associated to around 30,000 vessels worldwide.Rolls-Royce Commercial Marine has approximately 3,600 employees and an annual turnover of NOK 8.9 billion (2017), whilst KONGSBERG has approximately 7,000 employees and a turnover of NOK 14.5 billion (2017).The Norwegian company also stressed that Rolls-Royce Commercial Marine had experienced considerable reductions in activity levels due to challenging market conditions within the offshore-related activity.In 2017, the Rolls-Royce Commercial Marine business generated revenue of £817m with an operating loss of £70mRolls-Royce said the sale followed a strategic review of its Commercial Marine operations announced in January 2018.The sale includes propulsion, deck machinery, automation and control, a service network spanning more than 30 countries and ship design capability, which to date has seen around 1,000 ships of Rolls-Royce design delivered to offshore, cargo, passenger and fishing vessel customers.The main priority going forward for Kongsberg is ensuring profitability, and at the same time being an industry innovation leader.“The acquisition will also strengthen Norwegian ownership in the world leading Norwegian maritime cluster, whilst the company will have a stronger Nordic and international position,” Kongsberg said.Kongsberg will finance the acquisition of Rolls-Royce Commercial Marine through a combination of new equity and a new bond loan. The purchase price will be paid in cash upon completion of the transaction.Offshore Energy Today Stafflast_img read more

Ajuy local falls in drug bust

first_imgHe was25-year-old fast food employee Dan Dideles of Ajuy, Iloilo, a police reportshowed. ILOILO City –Police arrested a man in a drug buy-bust operation in Barangay San Rafael,Mandurruiao district. The suspect was detained in the lockup cell of theMandurriao police station, facing charges for violation of Republic Act 9165, orthe Comprehensive Dangerous Drugs Act of 2002./PN An undercoverofficer initially bought from Dideles a sachet of suspected shabu for P1,500. Five moresachets of suspected illegal drugs were seized during Dideles’ arrest around6:30 a.m. on Dec. 10, police said. last_img

August 9, 2017 Police Blotter

first_imgAugust 9, 2017 Police Blotter080917 Batesville Police Blotter080917 Decatur County EMS Report080917 Decatur County Fire Report080917 Decatur County Jail Report080917 Decatur County Law Reportlast_img

Pastor arrested in Rushville church molesting case

first_imgPrintRushville, In. — Police in Rushville have made an arrest in an ongoing child molesting investigation involving a pastor at the Rushville Baptist Temple. The probe began in September when the mother of a three-year-old reported the activity to the Indiana Department of Children’s Services.Garry Evans, 72, has been charged with three counts of child molesting, four counts of sexual battery and five counts of child solicitation- all felonies.A search warrant was executed at the church on September 22.Court documents indicate Evans lured the girl into his office with a promise of candy then pulled his pants down and asked the girl to touch his penis. He also told the girl not to tell anyone about the contact.Following the arrest four more girls under the age 10 came forward with reports of sexual advances. Police believe there could be more victims.last_img read more

Officers identified in Wednesday Brownstown shooting

first_imgJoe KellyBrownstown, In. — The Indiana State Police investigation into an officer-involved shooting at the Brownstown Police Department Wednesday morning and have identified the officers involved.The first officer involved in the shooting has been identified as Brownstown Police Chief Tom Hanner.  Chief Hanner is a 15 year law enforcement veteran.  He has been chief of the Brownstown Police Department for seven years and previously served with the Jackson County Sheriff’s Department.  The second officer has been identified as Assistant Chief Joe Kelly.  Assistant Chief Kelly is a 12 year law enforcement veteran and previously served with the Indiana Capital Police before being hired by the Brownstown Police Department.Tom HannerBoth Chief Hanner and Assistant Chief Kelly have been placed on administrative leave per department protocol.At the conclusion of the investigation, the Indiana State Police will submit the investigation to the Jackson County Prosecutor’s Office for review.last_img read more

Syracuse shuffles defensive linemen through front in search of stability

first_img Facebook Twitter Google+ As of right now, there are no defensive tackles in the Syracuse locker room. There are no nose tackles or defensive ends, either. Only defensive linemen.That’s the way defensive line coach Tim Daoust and the rest of the Syracuse coaching staff are addressing the units at least, shuffling them regularly through spring ball in search of finding a successful rotation.With Jay Bromley off to the NFL, the group is left with no leader and a number of questions.“It’s really been by committee,” Daoust said. “We’re playing a lot of guys in there.”With three rising seniors — nose tackle Eric Crume and defensive ends Micah Robinson and Robert Welsh — there is experience on the line, but the production has been limited. The trio managed just seven sacks and 17.5 combined tackles for loss last season, compared to Bromley’s 10 sacks and 14.5 tackles for loss despite regular double teams.AdvertisementThis is placeholder textEach showed flashes of potential, but none were consistent playmakers.“It’s a different road that I’m not used to as far as being a leader,” Crume said, “but I’ve just got to step into my role and keep getting better. Like everybody else on the D-line, we’ve just got to keep getting better.”Also in the mix are rising senior nose tackle Ryan Sloan and junior defensive tackle Marcus Coleman, rising sophomore defensive end Isaiah Johnson and Ron Thompson, a rising junior tight end-turned-defensive end.And by fall, it’s possible 6-foot-4, 330-pound junior college transfer Wayne Williams could crack the rotation, as well.But currently, he’s focused solely on improving his conditioning. Defensive coordinator Chuck Bullough said he can only go for 5-10 plays at full speed.“When we first got to winter running, it was like, ‘Oh my God, he’s out of shape,’” Bullough said. “He was huge.”Sloan and Coleman have gotten first-team snaps in Syracuse’s Okie and other three-down linemen sets, while Daoust emphasized Johnson’s improved conditioning and Thompson’s elite talent.But in the team’s open practice last Tuesday, the highlights for the group came few and far between.A swim move by Welsh, playing right defensive end, led to his swatting of a Terrel Hunt pass attempt, and ensuing championship belt celebration.Surrounding that, though, were five lengthy touchdowns and limited pressure on the quarterback.“Developing leaders right now is essential for our defensive unit,” Coleman said.Last year, Bromley would keep the group in line after a lengthy running play or ineffective pass rush. As of now, no one has stepped up.Crume, Robinson and Welsh seem to be the logical choices, but none have filled the role yet. And none have the talent that the NFL-bound Bromley did even as a rising senior.It’s clear there will need to be more balanced production from the group. But only time and repetition will tell which defensive linemen become tackles and ends, and which are pushed to the back of the pack.Said Coleman: “We’re trying to be one of the most aggressive and attacking defenses in the country.” Comments Published on April 15, 2014 at 12:10 am Contact Stephen: | @Stephen_Bailey1last_img read more

Students in ROTC take different path

first_imgWhile many students spend their four years of college doing a combination of studying and socializing, others enrolled in USC’s Naval ROTC, Army ROTC and Air Force ROTC training programs dedicate their educations to a different cause.“I felt that there was something more out there for me my senior year of high school,” said Leon Sung, a senior majoring in kinesiology. “Being part of a team and working to accomplish something really appealed to me.”Aim high · Students in USC’s Air Force ROTC stand at attention during the Southern California Invitational Drill meet, which was held in Redondo Beach in March 2013. – Ralf Cheung | Daily TrojanSung is currently a cadet training officer and is responsible for planning and organizing task conditioning standards for the cadets he supervises. As the task force north commander, he also works with students at California State University, Dominguez Hills, in planning programs for students there and at USC.Eyobed Mesfun, a sophomore majoring in economics, however, joined the military program for entirely different reasons.“I’ve always wanted to get into government and politics, either through the military or through the civilian world,” Mesfun said.Students in NROTC and ROTC programs have workouts known as PT, or physical training, on Monday, Wednesday and Friday mornings from 6:20 a.m. to 7:30 a.m.The program also includes Friday labs after the workouts, when the cadets take part in leadership activities, including squad tactics and techniques to handle chaotic situations and remain calm.“Right now I’m just focusing on learning as much as possible and figuring out exactly what I’m going to do and my role in the program,” Mesfun said.Students in the program are also required to take a military science class every semester that varies from two to four units. Additionally, they are required to participate in a Leadership Development Exercise once a semester, which focuses on “building more mentally agile and adaptive leaders,” according to Sung. Other exercises include the Ranger Challenge, a skills competition for cadets.“You also have the traditional ROTC extracurriculars, such as color guard — we protect the American flag and display it during football games,” Sung said.According to Sung, the Army ROTC is the largest branch, with opportunities that include specialty schools, promotions and various duty locations.“Across the organization, people truly are professionals,” Sung said. “We have one standard set of army values.”Though those in the programs share the same values, students find their own niches in each branch. For example, according to Mesfun, students in the Air Force program are typically resigned to engineering.“Most of the roles [the Air Force has] are support roles and they are not in the field conducting operations and tasks,” Mesfun said.Mesfun himself was originally part of the Air Force program, but switched into the Army because he felt it was a better fit for him.“I wanted to just have a more hands-on role in my military activity and my career,” he said. “I realized if I was going to be an Air Force officer I would be really limited in what I would be able to do in the field.”As students get older, they acquire more responsibilities within the program. Seniors are responsible for helping to run the program.“Sophomores and freshman are typically more like sponges, and they’re just there to absorb and learn,” Mesfun said.Even though he has only been part of the Army program for two months now, Mesfun said that he felt welcomed by his fellow students.“We’re all part of a pretty tight-knit group, and they welcomed me pretty quickly,” he said.Though each branch is part of the military, the branches tend not to work together.“Each program is designed to work completely independently from the other programs,” Sung said.Many branches have started to work alongside each other, but it is difficult because of the different training standards in each branch.Mesfun said he felt the different branches had different specializations.“I feel like Army’s more focused on the physical aspect and well-roundedness while Air Force is more focused on managerial and logistics and background information to support everything,” he said.last_img read more

No. 8 Syracuse uses big 2nd-half run, low shooting to edge No. 4 Florida, 17-15

first_img Facebook Twitter Google+ Published on March 7, 2018 at 4:53 pm Contact Billy: | @Wheyen3 Syracuse entered Wednesday’s game against Florida leading the country in scoring offense at 18.75 goals per game. Florida was only allowing 11.20 goals per game. Something had to give.Florida’s defense yielded, and Syracuse didn’t stop scoring until the game was out of reach. Even though the Gators came out of the gates strong and hung tight in the first half with goals of their own, it was the Orange’s offense that proved to be enough in the Carrier Dome.Against No. 4 UF (4-2), SU’s (4-1, 0-1 Atlantic Coast) offense boosted it to avoid a losing streak and pick up a 17-15 win. The offensive outburst was keyed by a 7-0 run in the middle of the second half. After falling to then-No. 11 Virginia on Sunday, SU bounced back against UF by beating Florida’s star goalie Haley Hicklen, again and again. “Our offense did what they needed to do,” SU head coach Gary Gait said. “They kept scoring goals.”Syracuse emerged from the first half up 9-8 after a back and forth affair. Of those nine SU goals in the first half hour, six came from low shots on Hicklen, who had saved 16 shots in an upset of now-No. 3 North Carolina on Sunday. AdvertisementThis is placeholder textMidway through the first half, SU’s leading goal-scorer last season Riley Donahue spun to her right and burned her defender. No defender stood in front of her, but to shoot from her stronger left side, she’d have to be creative. No problem.Donahue brought the head of the stick down toward her left ankle and flicked the ball towards the cage. It went right between Hicklen’s legs and into the back of the net, the most eye-catching of six goals that were too low for the UF goalie to stop in the first half.“We definitely watched film on (Hicklen),” SU’s Nicole Levy said. “But I feel like when you’re in tight on someone, it’s easier to just hitch high and put it low.”The scoring frenzy was stunted for the final eight minutes of the first half. After a Gators goal 33 seconds into the second half tied the game at 9-apiece, it would be all Syracuse until it was too late.Sam Swart started the second-half SU scoring much like she did on a first-half goal of hers. She set up on the right wing, hopped up and down a few times and then burst to her stronger left side. After blowing by her defender, she whipped a shot from her left hip below the stick of Hicklen and into the net for a hat trick.“I feel like our passing is so fast around in a circle, the defense couldn’t keep up,” Swart said. “… We just continue, continue, continue.”A few minutes after Swart’s goal, Emily Hawryschuk was fouled and got a free-position shot from the left slot. She wound up and fired a low shot from her hip that skidded off the ground and past Hicklen’s right hip, putting Syracuse up two.The Orange run was far from over. Three quick goals, either in transition or on easy finishes in front of the cage, brought the run to five-straight goals. Then, Donahue went low again. Twice more.Hicklen entered Wednesday’s contest ranked third in the country in saves per game (13.0) and fifth in save percentage (54.6). But besides a few minutes she sat out in the first half, the Orange had her number all game long. The recipe, as it was on SU’s sixth-straight goal in the second half, never wavered from finding the bottom of the net. It worked and Donahue’s simple finish below Hicklen’s stick made it 15-9 with fewer than 15 minutes left.Less than two minutes later, Donahue completed her shooting-low hat trick. Alie Jimerson, stationed behind the net, picked Donahue out cutting right down the center of the field, who scooped the ball low and by Hicklen’s left ankle for an easy finish. The Orange had scored seven straight.“I think that for that 7-0 run, we ran them off the field in the midfield,” Gait said, “and really took advantage of our two-line midfield system, and I think it showed.”The run ended with a Shayna Pirreca goal with 12:30 remaining. But that wouldn’t end up mattering. Syracuse’s final goal of the game came from its game-leader, Levy, and it featured one more low finish.Set up at the X behind the net with about eight minutes left, Levy was marked tightly. She spun once but didn’t gain an edge. She spun again, still no edge. So she just used a quick first step to her right, wrapped around the cage and shot between Hicklen’s legs. The Florida goalie still didn’t have an answer for that spot, and although Syracuse didn’t beat her again, the Orange had beaten her low a few too many times for the Gators to hang.Florida scored five goals in the closing minutes to keep the game within reach and keep Syracuse on edge. But the Gators’ comeback wasn’t enough to overcome a seven-goal deficit.“I was very proud of our team how they responded throughout the game,” Gait said. “We didn’t allow them to make their run until the very end.”After Tuesday’s practice, Syracuse had gathered in a circle near one of the end zones on the Carrier Dome turf. Gait implored his players to get a good night’s sleep and to relax their minds before Wednesday’s game against Florida. His final message was simple.“Great opportunity to get back to where we were a few days ago,” Gait told his team.Syracuse took advantage of the opportunity. Behind an offense that just keeps scoring, the Orange is back where it wants to be. Commentslast_img read more

Munster looking to get back to winning ways

first_imgRassie Erasmus’s side – with Nenagh man Donnacha Ryan making his first start of the campaign – take on the Newport Gwent Dragons in Wales at 5.15.Ten minutes before that defending champions Connacht begin their encounter with Zebre in Italy.last_img