TEXT-S&P summary: Asia Capital Reinsurance Group Pte Ltd.

(The following statement was released by the rating agency)

Dec 20 -

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Summary analysis -- Asia Capital Reinsurance Group Pte Ltd. ------- 20-Dec-2012

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CREDIT RATING: Country: Singapore

Local currency A-/Stable/--

Primary SIC: Surety insurance

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Credit Rating History:

Local currency Foreign currency

20-Nov-2008 A-/-- --/--

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Rationale

The ratings on Asia Capital Reinsurance Group Pte. Ltd. (ACR) reflect the

company's satisfactory financial profile and conservative investment profile.

Moderating factors include ACR's fluctuating operating performance and

uncertain emerging risk exposure.

We view ACR's risk-adjusted capitalization as moderately strong and supportive

of the rating. This is despite the impact of losses due to the floods in

Thailand in 2011. A capital injection by a strategic investor has strengthened

the company's capital profile, and the greater use of retrocession protection

has reduced exposure to individual as well as catastrophe risk. We expect

ACR's capitalization to strengthen due to the reduced uncertainty associated

with the company's reserve sufficiency.

ACR's investment profile is also supportive of the rating. The majority of the

company's assets are fixed-interest investments (91.4%) and cash and deposits

(6.1%). ACR uses most of its Asian regional fixed-interest securities to match

liabilities in markets in which it does business.

We expect ACR's operating performance to recover to satisfactory levels over

the next 24 months from the current moderate level. The company's de-risking

exercise and the increase in reinsurance premium rates should support the

improvement. The fluctuation in underwriting performance in recent years was

mainly due to the impact of catastrophes in the region. In line with the rest

of the reinsurance industry, ACR has tried to manage its exposure by

tightening terms and conditions on its business, requesting more information

on clients' underlying exposures, and increasing retrocession protection. We

expect these initiatives to lower the volatility in the company's operating

performance. Losses due to the floods in Thailand pushed the company's

combined ratio to 134.7% in the fiscal year ended March 31, 2012 (fiscal 2011).

We do not expect loss claims related to the floods in Thailand in 2011 to

increase significantly since we believe the company has received notification

of all substantial claims. ACR has adjusted for the notified claims following

consultations with independent loss adjustors. However, the possibility of

loss development from the adjusted claims still exists. We have accounted for

possible increases in these claims while assessing the company's credit

profile.

In our opinion, ACR's competitive position is satisfactory. Our view is

despite the company's short operating history and its significant business

growth. ACR's premium growth slowed in fiscal 2011 as it focused on managing

claims, catastrophe exposure, and capital. The company has since shifted focus

back to business growth. In our view, losses related to the Thai floods

weakened clients' confidence in ACR. However, we believe the impact is

manageable and the company's overall business profile is not significantly

affected.

Enterprise risk management

We assess ACR's enterprise risk management (ERM) as adequate, reflecting our

opinion that the company has an adequate understanding of its main risks, and

has the capability to identify, measure, and manage most of these risks. ERM

development was an important early feature in ACR's establishment and we view

that risk management continues to grow in importance within the company's

decision-making process.

ACR's risk culture is strong, reflecting the management's risk awareness, with

documented guidelines and limits. While an articulated risk tolerance policy

is in place, we believe further refinement is needed, given the company's

short operating history. ACR's underwriting and catastrophe risk control, as

well as its emerging risk management framework could be further developed. We

expect the company to continue to develop its strategic risk management

capabilities to complete its ERM framework.

Outlook

The stable outlook reflects our view that ACR's losses related to the floods

in Thailand have stabilized and that the company has sufficient capital buffer

to absorb further increases in claims. We believe the probability of ACR

facing losses similar to those in late 2011 are low due to the tightening of

terms and conditions on new business and higher protection of capital from

retrocession.

We may lower the ratings if ACR's capitalization deteriorates to a level that

is not supportive of the rating and if its underwriting performance weakens

due to significant underwriting losses. We may also lower the ratings if the

company's business profile deteriorates in the upcoming renewals due to

declining confidence of clients in the company.

We may upgrade ACR if its capital is extremely strong, it achieves its

business projections profitably, and its risk management is resilient to

insurance events. We consider the possibility of an upgrade to be remote for

the next two to three years.

Related Criteria And Research

-- Refined Methodology And Assumptions For Analyzing Insurer Capital

Adequacy Using The Risk-Based Insurance Capital Model, June 7, 2010

-- Interactive Ratings Methodology, April 22, 2009

-- Group Methodology, April 22, 2009

-- Summary Of Standard & Poor's Enterprise Risk Management Evaluation

Process For Insurers, Nov. 26, 2007

Source: http://news.yahoo.com/text-p-summary-asia-capital-reinsurance-group-pte-115407597--sector.html

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Murder suspects reveal details of college student's death

Published: Tuesday, December 18, 2012 at 6:27 p.m.

Last Modified: Tuesday, December 18, 2012 at 6:27 p.m.

In interviews at the New Hanover County jail Monday, Christopher D. Cromartie Jr., 23, and Daniel E. Henry, 17, reiterated what District Attorney Ben David said in court Monday. They said Quintel R. Grady, also known as ?Ghost,? killed Joshua Proutey, the teenager who had just clocked out of work Thursday night at the Hannah Block Community Arts Center when he was robbed and killed in a gravel parking lot. A fourth suspect, Jasmine N. Dottin, allegedly waited in a getaway car nearby.

Both Cromartie, who had been working with troubled teens in the community, and Henry admitted to playing a role in the deadly robbery. While their accounts differ, many of the details they provided were initially disclosed by police and prosecutors at a news conference Monday. The interviews paint the clearest picture yet of the events leading up to Proutey's death.

The other two suspects, Dottin, 19, and Grady, 22, declined interview requests.

All four were arrested late Sunday or early Monday and charged with felony first-degree murder, robbery with a dangerous weapon and conspiracy to commit robbery with a dangerous weapon. Cromartie, Henry and Dottin are each additionally charged with attempted burglary. All of the suspects except Henry face the prospect of the death penalty. Because of his age, the maximum Henry could receive is life in prison.

Hours before the shooting Thursday, authorities believe that Cromartie, Henry and Dottin tried to burglarize a house off Churchill Drive. But they alerted the homeowners while trying to break in and ran off without taking anything. Cromartie said he needed the money to travel to New York to pick up his 3-year-old son.

?I figured if I robbed a white person in a good neighborhood, they're bound to have money lying around,? he added.

A man who answered the door at the Churchill Drive house Monday declined to comment on the attempted break-in.

After the burglary attempt failed, Cromartie said he, Henry and Dottin were joined by Grady at a house in Creekwood, a federally subsidized housing neighborhood on North 30th and Emory streets. There, Grady showed Henry a revolver he brought with him, Cromartie said. Henry and Grady planned to rob somebody to get money for gas and a marijuana wrap, Cromartie said. The four piled into a car, and Dottin drove them downtown, Cromartie said.

Once downtown, Cromartie said Dottin waited in the car while Henry and Grady walked around, searching for a target. Cromartie said that after getting out of the car, he followed Henry and Grady at a distance, staying nearby for protection in case something went wrong but reluctant to get directly involved in the actual robbery.

At first, police and prosecutors say, the men spotted a woman and began following her. They said the woman realized she was being stalked, went into her gated yard and began to call 911, but did not.

Afterward, the group turned around and walked in the other direction on Front Street, headed toward Market Street. Cromartie said he watched as Henry and Grady turned into an alley across the street from the Peking Gourmet Chinese Restaurant at 120 S. Front St. The alley leads to a set of parking lots behind the Community Arts Center, where Proutey, a Cape Fear Community College student, had just gotten off work as the night manager.

Proutey was in his truck with a Jimmy John's sandwich, cookie and fountain drink when Grady approached him, authorities said.

Henry said Grady held the gun on Proutey, who dropped his sandwich. Henry said he bent down to pick it up as Grady proceeded to rummage through Proutey's pockets.

At this time, prosecutors say, Proutey handed over the two $5 bills that were in his wallet but asked if he could keep his ID because it would be difficult to replace. Henry said that when Grady moved to hand Proutey back the ID, Proutey stepped out of his truck. Grady ordered him back inside. Proutey froze. Henry said Grady ordered Proutey a second time to get back in his truck. Proutey didn't move.

Henry said Grady pulled the trigger.

?I was in shock,? Henry said. ?This is the first time I have seen someone die.?

Cromartie said he heard the gun fire and saw Proutey collapse on the ground. He said he ran to Proutey and felt for a pulse. Proutey's heartbeat was high, then low, then high, and low, and, finally, nothing, Cromartie said.

?I knew it was over for him,? he said.

Cromartie said he ran up the street and jumped in the getaway car behind Henry and Grady. He said he could smell gunpowder in the car. En route to a gas station on Market Street, Cromartie asked Grady why he shot Proutey.

?He disobeyed me,? Grady said, according to Cromartie. ?I told him to get in the car. He was about to walk off.?

At some point, Cromartie said, the men tossed the sandwich out the window. As they drove away, he said, passers-by found Proutey lying on the gravel, keys still clutched in his hand and the ice in his fountain drink melting by his feet.

On Sunday night, when police moved in to arrest Cromartie in the Proutey killing, they found him about 9:30 p.m. at the Wilmington Coastal Boxing gym on Anderson Street.

Cromartie was a member of the Portia M. Hines Park Project, part of the New Hanover County Blue Ribbon Commission on the Prevention of Youth Violence, and he claimed to be the manager of the gym, part of the Wilmington Coastal Boxing Inc., a nonprofit club for at-risk youth.

Cromartie's arrest shocked Wilmington Coastal Boxing Inc. President Deryll McCas-

kill, who said Cromartie was recently ?suspended for misconduct and foul language in the gym.?

McCaskill said that aside from giving Cromartie a key to the gym so he could let in contractors bidding on work, the Wilmington native had no formal connection with the club. And when club leaders learned Cromartie had business cards made up proclaiming himself manager, they found it amusing.

?We thought it was a big joke,? McCaskill said. ?He called himself a manager and it seemed to keep him off the street, so we let it go. The dilemma we have now is ? because of that, did he have idle time to do something as catastrophic as what he's accused of.?

Staff writers F.T. Norton and Pressley Baird contributed to this report.

Brian Freskos: 343-2327

On Twitter: @BrianFreskos

Source: http://www.starnewsonline.com/article/20121218/ARTICLES/121219653/1177?Title=Murder-suspects-reveal-details-of-college-student-s-death

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Stack Trace:

[NullReferenceException: Object reference not set to an instance of an object.] detailNews.Page_Load(Object sender, EventArgs e) +134 System.Web.Util.CalliHelper.EventArgFunctionCaller(IntPtr fp, Object o, Object t, EventArgs e) +14 System.Web.Util.CalliEventHandlerDelegateProxy.Callback(Object sender, EventArgs e) +35 System.Web.UI.Control.OnLoad(EventArgs e) +99 System.Web.UI.Control.LoadRecursive() +50 System.Web.UI.Page.ProcessRequestMain(Boolean includeStagesBeforeAsyncPoint, Boolean includeStagesAfterAsyncPoint) +627

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Version Information:?Microsoft .NET Framework Version:2.0.50727.3634; ASP.NET Version:2.0.50727.3634

Source: http://www.hospitalitybizindia.com/detailNews.aspx?aid=15409&sid=1

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Red Cross Volunteer Describes Sandy Hook Victims Families ...

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By Debbie Emery - Radar Reporter

Emergency services, media outlets and charitable organizations have all flooded into the small?Connecticut?city of Newtown, and RadarOnline.com exclusively spoke to one Red Cross volunteer who sacrificed his time during the busy holiday season to help the victims of Friday's horrific shooting massacre.

"All of the TV cameras -- it looks like every television camera that was ever built! -- were set up on the small street aimed at the Sandy Hook Fire Station," Dave Kemp, of nearby Vernon,?Connecticut, told Radar, as he compared the loss and mourning to that of Ground Zero after 9/11 or New Orleans in the wake of Hurricane Katrina.

PHOTOS: The Victims Of The Sandy Hook Elementary School Massacre

"The families are all going to Reed Middle School, which is where we have been feeding them and where the mental health workers congregated to receive and counsel everyone in any way they could. The remaining children were also taken care of there by trained adolescent experts and all the little brothers and sisters of the victims were given toys."

As RadarOnline.com previously reported, Adam Lanza, 20, shot his mother Nancy in her bed before taking an arsenal of her firearms to the school. As police drew in on him, he shot himself in the head.

The victims who lost loved ones in the shower of bullets that left 20 children and six adults dead were joined by brothers, sisters, aunts and uncles at the Red Cross support center as the community rallied together to help each other.

PHOTOS: President Obama & Mourners At Sandy Hook Vigil

"The parents were in various conditions emotionally. They all stayed for several hours and I was surprised to see that, but I got the sense that they were really getting a lot out of it," Kemp told Radar.?"There was over 100 case workers and volunteers and 40 or 50 family members at any one point in a day.
"The youngest kids really didn't seem to understand what was happening, they had a nice day and got to play and have a lot of attention and?supervision," he explained. "The little ones seemed happy and smiling when they left. It was like they had gone to the park - they just don't understand what death is.

"What was harder is when there was a group of six or eight teenage girls together and they were holding each other up. They were struggling."
Surrounded by crying and grieving parents who had lost their beloved children, the loving father and new grandfather revealed that he was most touched when they thanked him for his help.

PHOTOS: Celebs Involved In Murder

"That they had been through all of this and then still thanked me for being there, that was hard for me as I didn't expect it," he said.

"It is very difficult to accept their appreciation and say that to them, you just choke up. I feel bad that I can't respond fluently and easily, I found it difficult to express myself back but this is the least I could do.

"The Red Cross has brought a great number of licensed mental health counselors here. There are so many other agencies too -- ? Save The Children, the Southern Baptists, the Billy Graham people ? who all gather when there are disaster situations.

PHOTOS: Stars Who Died In Bizarre Ways

"It is hard to judge how the atmosphere in Newtown has changed as I wasn't here before, but everyone has said it was close-knit and friendly in the first place, but certainly those who live here are doing what they can."

What is next to decide for the rural New England town is the future of the surviving students and how they will get back into the routine of school in the wake of such a tragedy.

"It has just been decided that some of the smallest children will be going to school in one of the nearby towns," he explained. "And there is quite a bit of conversation about whether they will ever open the elementary school up again.?That remains to be seen."

PHOTOS: America's Unknown Psycho Serial Killers

"Anyone can understand how hard it must be to go back there. I do not know what that is going to result in. All the children are off school right now, two funerals occurred on Monday and the rest will happen over the next few days so there is a lot of the grief counseling going on."

With Christmas just around the corner, the volunteers are hoping that their work will be done in Newtown by the weekend so they can return to their own loved ones ? and no doubt hug them even tighter than ever.

"I got home on Saturday night, and my wife asked how it went, and I couldn't speak, I couldn't get the words out of my mouth," Kemp revealed to Radar. "I know that I will need some mental health help myself as our counselors take care of us too. This is only day three for us, we're spending all of our adrenalin and energy here and really not sleeping well."

PHOTOS: The Most Intriguing Cold Cases In History

A veteran of many years volunteering for the Red Cross, the huge-hearted man revealed that the devastating aftermath in his home-state is one of his most challenging assignments yet.

"The hardest ones have been Ground Zero in New York after 9/11, in 2005 at Hurricane Katrina, then about 18 months ago there were 30 or 40 tornadoes that hit Alabama and tore it to shreds, that was tough," he revealed.

"This is among the most difficult after being out in the field 46 times."

?

RELATED STORIES:

President Obama Calls For Change At Sandy Hook Vigil; Reads Names Of 20 Children Killed In Massacre

Sandy Hook Killer Adam Lanza: 'Deeply Disturbed Kid, Couldn't Feel Pain'

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Sandy Hook Elementary Teachers Hailed As Heroes

Source: http://www.radaronline.com/exclusives/2012/12/sandy-hook-massacre-funerals-victim-families-heartache-red-cross-volunteer

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Apple wins patent case against Motorola

Apple Inc. (AAPL)?s iPhone didn?t violate patent rights owned by Google Inc. (GOOG)?s Motorola Mobility for a sensor that prevents accidental hang-ups, a U.S. International Trade Commission judge said today.

The patent is invalid, ITC judge Thomas Pender said in a notice posted on the agency?s docket. The judge?s findings are subject to review by the full commission, which has the power to block imports of products that infringe U.S. patents.

?We?re disappointed with this outcome and are evaluating our options,? Jennifer Erickson, a spokeswoman for Motorola Mobility, said in an e-mail.

The commission in August ordered Pender to consider a possible violation after it cleared Apple of Motorola Mobility claims related to other patents for 3G technology. This is the second time the judge has said there was no violation of the patent, which applies to a sensor used to determine the proximity of a person?s head to the device.

Google spent $12.5 billion to buy Motorola Mobility, in large part to obtain its trove of more than 17,000 patents so it had some leverage against Apple, which had been suing Google clients. Apple contends certain phones that run on Mountain View, California-based Google?s Android operating system copied unique features and the look of the iPhone.

The full determination by the judge will become public after both sides get a chance to redact confidential information.

Kristin Huguet, an Apple spokeswoman, said the company had no comment.

Apple lost a separate case that it had filed against Motorola Mobility at the Washington agency. The Cupertino, California-based iPhone maker is challenging that decision at the U.S. Court of Appeals for the Federal Circuit.

The two companies have fights in the U.S. and Europe over patented inventions related to smartphones. Some district court cases, including one in which Apple accused Motorola Mobility of breaching obligations to license its patents on reasonable terms, were thrown out and also are on appeal with the Federal Circuit. Others are pending in federal court in Florida.

The case is In the Matter of Certain Wireless Communication Devices, Portable Music Data, Processing Data Devices, Computers and Components Thereof, 337-745, U.S. International Trade Commission (Washington).

To contact the reporter on this story: Susan Decker in Washington at sdecker1@bloomberg.net

To contact the editor responsible for this story: Bernard Kohn at bkohn2@bloomberg.net

Source: http://feeds.loopinsight.com/~r/loopinsight/KqJb/~3/4xPLKKIwyic/apple-wins-ruling-in-motorola-mobility-patent-case-at-itc.html

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