NEWARK, N.J. - U.S. Senator Bob Menendez (D-N.J.), the highest ranking Latino in the U.S. Congress, held a press conference today at Newark International Airport with local Puerto Rican community leaders to announce he is traveling to Puerto Rico to survey the devastation, gauge the federal response, and meet with local officials and residents on the ground to assess how Congress can help provide necessary resources.

Flanked by State Senator Teresa Ruiz, Newark City Councilman Luis Quintana, Newark City Councilman Anibal Ramos, the Senator announced he would be taking a commercial humanitarian flight out of Miami, Fla, to San Juan after the Trump Administration obstructed his previously organized Congressional Delegation (CODEL) with over a dozen Members of Congress.

CLICK TO WATCH Q & A https://www.youtube.com/watch?v=JmCbHpWqvEc

Menendez has played a leading role in Congress to ensure the federal government provides the necessary help to the U.S. citizens living in Puerto Rico and the U.S. Virgin Islands impacted by Hurricanes Maria and Irma. He has received briefings from FEMA and the Governor of Puerto Rico in the past few days, and has called on Republican leadership to allow Congress to do its part to help the 3.5 million American citizens on the islands recover and rebuild. Since Hurricane Maria ravaged the island, leaving wrought historic devastation, Senator Menendez:

* Sent a letter with his Senate colleagues asking President Trump to waive the local cost shares for Puerto Rico for FEMA disaster assistance. The cost share for most projects is 75% federal, 25% local.

* Joined colleagues in sending a request to Acting Secretary of Homeland Security Elaine Duke to extend the crucial Oct. 5 deadline for Dreamers to renew their DACA status in the wake of three storms that have disrupted the day-to-day lives of millions of people in the U.S., including in Puerto Rico.

* Lead a coalition of Senators in writing to Speaker Ryan and Leader McConnell urging them to bring up an emergency disaster supplemental bill to fund CDBG-DR, FEMA's disaster relief fund (DRF), and other disaster accounts. FEMA is expected to run out of money in its DRF before the end of the calendar year and no CDBG-DR funding is currently available for PR.

* Sent a letter to U.S. Airlines serving Puerto Rico requesting they take additional steps that ensure victims of Hurricane Maria are not stuck on the island due to unreasonable fees or exorbitant ticket prices to the mainland United States.

* Joined colleagues in sending a letter expressing deep concern about the situation in Puerto Rico and the U.S. Virgin Islands and outlining eight specific actions to be undertaken by the Trump administration.

Read this original document at: https://www.menendez.senate.gov/news-and-events/press/video-menendez-announces-fact-finding-mission-to-puerto-rico-to-survey-hurricane-damage-assess-federal-response

HONG KONG--(BUSINESS WIRE)-- AM Best has maintained its stable outlook on China’s non-life insurance segment, citing improved regulatory oversight, new growth opportunities and ongoing digitalisation and innovation.

The Best’s Market Segment Report, “Market Segment Outlook: China Non-Life Insurance,” states that enhanced regulatory oversight, particularly for non-motor lines such as property and liability, is expected to support pricing discipline, strengthen distribution practices and promote prudent market conduct. Additionally, new growth opportunities are emerging from initiatives under the nation’s latest five-year plan that focuses on technology finance, green finance, inclusive finance, pension finance and digital finance, as well as the expanding Chinese Interest Abroad business, despite moderating GDP growth and a slowdown in traditional non-life business’ premium growth.

“For Chinese Interest Aboard business, while expansion may enhance China non-life insurers’ geographical diversification over time, it’s important to note that insurers could also be exposed to unfamiliar risks that require advanced underwriting skills and robust risk management systems to protect against large financial losses,” said Lucie Huang, associate director, analytics, AM Best.

The report states that China’s non-life segment’s bottom line has been driven by investment returns, with the industry’s underwriting margin thin amid intense competition. Although underwriting profits are largely concentrated among large insurers that benefit from economies of scale, some smaller local insurers have achieved favourable underwriting margins by focusing on niche market segments. At the same time, concerns have emerged about China’s economic momentum due to lower GDP growth forecasts. In turn, insurers are shifting focus from top-line growth to bottom-line protection and efficiency.

“The industry’s priorities are increasingly shifting toward sustainable profitability and operational efficiency, supported by accelerated digitalisation and innovation. Beyond traditional reinsurance support, they are also adopting proactive risk reduction measures to better manage exposures, while enhancing the client experience and improving post-disaster response,” said James Chan, director, analytics, AM Best.

To access the full copy of this commentary, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=368348.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20260904832500/en/

Lucie Huang
Associate Director, Analytics
+852 2827 3416
[email protected]

James Chan
Director, Analytics
+852 2827 3418
[email protected]

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
[email protected]

Cynthia Ang
Senior Industry Research Analyst
+65 6303 5026
[email protected]

Source: A.M. Best Rating Services, Inc.