Daily Archives: November 17, 2018

Navigators Stockholders Approve Merger with The Hartford

STAMFORD, Conn., Nov. 16, 2018 (GLOBE NEWSWIRE) — The Navigators Group, Inc. (NASDAQ:NAVG) (“Navigators”) announced that, at a special meeting of stockholders held today, Navigators’ stockholders approved the adoption of the previously announced merger agreement relating to the proposed transaction between Navigators and The Hartford Financial Services Group, Inc. (“The Hartford”), whereby Navigators will become a wholly owned subsidiary of The Hartford.

Subject to the terms and conditions of the merger agreement, at the effective time of the merger, each eligible share of Navigators common stock will be cancelled and converted into the right to receive $70.00 in cash.  The merger remains subject to various closing conditions, including receipt of various regulatory approvals, and is expected to close during the first half of 2019.

About Navigators

The Navigators Group, Inc. (NASDAQ: NAVG)(“Navigators” or the “Company”) is a global specialty insurance holding company.  We provide customized insurance solutions designed to protect clients from the complex risks they face.   For more than 40 years, Navigators has added value for policyholders—both in underwriting and in claims—through the depth and quality of our technical and industry expertise.  Industries we serve include maritime, construction, energy, environmental, professional services and life sciences.  Headquartered in Stamford, Connecticut, Navigators has offices in the United States, the United Kingdom, Continental Europe and Asia.  For more information, please visit navg.com.

About The Hartford
The Hartford Financial Services Group, Inc., (NYSE: HIG)(“The Hartford”) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Connecticut. The Hartford is a leader in property and casualty insurance, group benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at https://www.thehartford.com.

Forward Looking Statements

Certain information in this communication constitutes “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts.  They often include words such as “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “seeks” or words of similar meaning, or future or conditional verbs, such as “will,” “should,” “could,” “may,” “aims,” “intends,” or “projects.”  However, the absence of these words or similar expressions does not mean that a statement is not forward-looking.  These statements may relate to risks or uncertainties associated with:

  • the satisfaction of the conditions precedent to the consummation of the proposed merger, including, without limitation, the timely receipt of stockholder and regulatory approvals (or any conditions, limitations or restrictions placed on such approvals);
  • unanticipated difficulties or expenditures relating to the proposed merger;
  • the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, including in circumstances which would require the Company to pay a termination fee or reimburse The Hartford for certain of its expenses;
  • legal proceedings, judgments or settlements, including those that may be instituted against the Company, its board of directors, executive officers and others following the announcement of the proposed merger;
  • disruptions of current plans and operations caused by the announcement and pendency of the proposed merger;
  • potential difficulties in employee retention due to the announcement and pendency of the proposed merger;
  • the response of customers, policyholders, brokers, service providers, business partners and regulators to the announcement of the proposed merger; and
  • other factors described in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2017 filed with the SEC on February 22, 2018.

The Company can give no assurance that the expectations expressed or implied in the forward-looking statements contained herein will be attained. The forward-looking statements are made as of the date of this communication, and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.

Investors
Ciro M. DeFalco
Executive Vice President and Chief Financial Officer
cdefalco@navg.com
203-905-6343

Media
Courtney Oldrin
Head of Communications
coldrin@navg.com
203-905-6531

APECs private sector encouraged to invest in digital economy

Jakarta (ANTARA News) – APEC economic leaders encouraged the Asia-Pacific business community to invest in infrastructure that will increase digital access, a fundamental driver of inclusive economic growth, noted the APEC Secretariats written statement issued and received here, Saturday.

“All APEC members today are expanding their digital access. We look to the private sector to capitalize on this and make investments that lead to more innovations,” Papua New Guinean Prime Minister Peter ONeill, the chair and host of APEC Summit 2018, stated.

Prime Minister ONeill addressed local and visiting members of the business community in Port Moresby on Friday (Nov 16), kicking off a two-day summit that brings together the regions leaders and the private sector ahead of the annual meeting of APEC Economic Leaders.

The meeting will prioritize trade and economic cooperation in the Asia-Pacific region.

Papua New Guineas theme for APEC in 2018 focuses on capitalizing on new technologies to give more vulnerable sectors greater access to participating in the economy.

“While free trade is vital, this alone will not deliver the sustained and the wider economic development that we aspire to. Policies must be aimed at improving productivity, raising low- and middle-income levels, so that we are able to ensure a better standard of living for our people,” Prime Minister ONeill noted.

APEC includes developing economies as well as some of the worlds most advanced. While the regions GDP has more than tripled over the last decades, the forum has, in recent years, increasingly focused on ensuring that the benefits of this growth are enjoyed by all people. Digital technology is seen as a way to make economic growth more inclusive.

Prime Minister ONeill also highlighted the need to encourage investment to deliver efficient, reliable, and more affordable internet access.

“In Papua New Guinea, our government is leading the way in encouraging investment infrastructure that will facilitate digital access, especially by small to medium enterprises and our business community,” he remarked.

“There should be no space for a digital divide, on whatever grounds that divide may be generated, whether it is gender, ethnic grouping, education, or where the person lives,” he added.

Source: ANTARA News

Indonesia, Belarus to cooperate on research, technology, innovation

London (ANTARA News) – Indonesia and Belarus have agreed to establish cooperation in the fields of research and technology, innovation, and higher education as part of the 2019-2020 action plan in science and technology.

The agreement was reached during the two-day visit of Indonesian Research, Technology and Higher Education Minister Mohamad Nasir to Belarus on November 13-14, 2018, as part of the 25th anniversary of Indonesia-Belarus relations.

Enjay Diana, spokesperson of the Indonesian Embassy in Moscow, informed Antara here on Saturday that in Belarus, Nasir held a series of meetings, including opening the Second Meeting of the Republic of Indonesia Joint Working Group on Science and Technology and Higher Education and bilateral meetings as well as witnessed the signing of a memorandum of understanding between the Indonesian Ministry of Research, Technology, and Higher Education and the Belarus Ministry of Education.

At the second meeting of the Joint Working Group in the State Committee on Science and Technology in Belarus, the minister affirmed that diplomatic relations between Indonesia and Belarus had entered the 25th year.

Both countries share the same interest of preparing the millennial generation to master science and technology and innovation in order to realize a nation that is capable of facing global challenges.

The Ministry of Research, Technology, and Higher Education and the State Committee on Science and Technology in Belarus agreed on an action plan in the fields of science and technology and innovation for the 2019-2020 period.

Cooperation between Indonesia and Belarus encompasses developing contacts between universities; exchanging information on various tertiary programs; designing curriculum programs; conducting field research, dialog, joint seminars, and conferences; and teaching mobility programs and students, among others.

The collaboration also covers the fields of engineering, agriculture, and information technology.

Source: ANTARA News

News Featue – Preserving Indonesias sea turtles by Rahmad Nasution

Bogor, W Java (ANTARA News) – Indonesia is an archipelagic nation that is blessed by the Almighty God with an array of flora and fauna, several of which are categorized as “iconic species.”

According to the Ocean Health Index, a valuable tool for assessing ocean health, iconic species are “animals or plants which are important to cultural identity as shown by their involvement in traditional activities.”

Indonesia is home to several iconic species, one of them being the sea turtle. The World Wildlife Fund (WWF) Indonesia has also reported that six of the seven living species of sea turtles that scientists recognize can be found in the country.

According to the WWF Indonesias official website, four of the six species of sea turtles — green turtles (Chelonia mydas), “belimbing” or leatherback turtles (Dermochelys coriacea), “sisik” or hawksbill turtles (Eretmochelys imbricata), and “lekang” or olive Ripley turtles (Lepidochelys olivacea) — lay their eggs on several of the countrys coastal areas.

The WWF Indonesia further noted that the Indonesian waters are also the most important migratory route of sea turtles at the crossroads of the Pacific and Indian Oceans.

Abun Sub-districts coastal areas in Tambrauw District, West Papua Province, for instance, are known as the largest nesting spots of leatherback turtles in the Pacific region.

The Derawan Islands in East Kalimantan Province are recorded by the WWF Indonesia as the biggest nesting spots of green turtles in Southeast Asia.

In Java Island, Trisik Beach in Kulon Progo District, Yogyakarta Province, is also known as the green turtles nesting spot.

Head of the Abadi Turtle Conservation Agency at Trisik Beach Jaka Samudro revealed on Wednesday that the number of sea turtles reaching the beach has increased significantly this year as observed from the existence of 17 nests.

The nests had at least 1,700 eggs. This number sharply increased as compared to 800 recorded last year, Samudro remarked.

Samudro explained that the progress was achieved as a result of moving the location of shrimp aquaculture rearing from Trisik Beach to the northern areas following the recent giant waves that hit the coastal area.

The 17 nests of sea turtles at the Abadi Turtle Conservation Agencys site has been frequented by tourists on the weekend, he noted, adding that the agencys volunteers were trained on ways to become good public campaigners.

“We have frequently received upgrading programs on preserving the sea turtles, so that we are competent in sharing knowledge and information on the turtles,” Samudro stated.

In response to the conservation efforts being undertaken at Trisik Beach, Head of the Yogyakarta Natural Resources Conservation Agencys Conservation Unit Untung Suripto said conserving the sea turtles necessitated public awareness and participation.

Hence, all community members, including businesspersons, should be engaged in public campaigns on conserving turtles and several other endangered animals.

Education tourism, which the Abadi Turtle Conservation Agency at Trisik Beach has been running, will help rectify the peoples behavior and boost their knowledge on sea turtles as well as the locals economy, he stated.

The Trisik coastal area has frequently been visited by green sea turtles for laying eggs, but predators and irresponsible people tend to take the eggs. The sea turtles were also affected by the noisy and light conditions, he pointed out.

In addition to high sensitivity to light that may cause blindness in sea turtles, the US Governments National Oceanic and Atmospheric Administration (NOAA) Fisheries also pointed out to the dangers posed by marine debris and trash to the survival of these animals.

Hence, marine debris and trash in oceans should be reduced to prevent the sea turtles from getting entangled in them or accidentally consuming the waste.

The NOAA Fisheries also suggests that removing “recreational beach equipment, such as chairs, umbrellas, and boats at night” is also helpful for preventing the sea turtles from turning away.

Considering the importance of possessing proper knowledge of the nature of sea turtles, Head of the Yogyakarta Natural Resources Conservation Agencys Conservation Unit Untung Suripto said educating the locals and visitors is undoubtedly necessary.

The Kulon Progo district government and all related elements in society are expected to participate in the conversation efforts, one of them being by respecting and enforcing the existing regulations.

Shrimp breeding in aquaculture and mining activities around the coastal area should be stopped since they may endanger the sea turtles habitat. At the same time, both locals and visitors are continuously educated about the nature of these animals.

Source: ANTARA News