Latest news with #MMIC
The Herald Scotland
12-08-2025
- Business
- The Herald Scotland
Glasgow is on the up – we need just new powers and resources to thrive
Read more: At Glasgow Airport in Renfrewshire, AMIDS continues to grow and develop as Scotland's principal location for Advanced Manufacturing, acting as a hub and key resource for industry and innovators throughout the country. From its beginning as the location for the University of Strathclyde's Advanced Forming Research Centre (AFRC), AMIDS has gone on to be the chosen location for the Scottish Government and Scottish Enterprise-funded National Manufacturing Institute Scotland (NMIS). NMIS, which receives major funding from the UK's Catapult programme as one of its core facilities, is operated by Strathclyde and is helping transform Scottish manufacturing providing companies with access to new manufacturing technologies collectively known as 'Industry 4.0'. Additionally, industry partners CPI chose AMIDS to locate its £88M, UK-leading Medicines Manufacturing Innovation Centre (MMIC) using continuous manufacturing technologies to produce vital new medicines. MMIC has invested a further £10M in a new Oligonucleotide Manufacturing Innovation Centre of Excellence (OMICE) to help develop sustainable manufacturing processes for new drugs to help treat cancer, heart disease and Alzheimer's; this again has benefitted from both national and devolved government support. The importance of technology (Image: PA) The Innovation Districts and the Glasgow City Region Cabinet's ten-year track record of delivering the joint UK and Scottish Governments' £1.13Bn City Deal programme provides the UK government with assurance that their funding of a £44M Innovation Accelerator and £160M Investment Zone will bear real fruit in boosting regional and national growth, productivity and jobs. These pump-priming investments will leverage a further £347M in private funding and generate growth across advanced manufacturing, quantum technologies and the space sector, supporting over 10,000 jobs and creating new skills and market opportunities. However, Glasgow City Region (GCR) and its partners, including the Glasgow Economic Leadership (GEL) Board, can deliver more if they had powers, resources and flexibilities from Scottish and UK governments. GCR is already showing the value of strategic collaboration across local authorities, business and academia as well as with Scottish and UK government agencies. This would require Glasgow City Region receiving new powers and responsibilities for skills and apprenticeships to help better match regional skills demand with strategic skills supply - as was proposed by the Withers' Review. For the UK Government, Glasgow could be treated on the same basis as major English metropolitan areas like Greater Manchester and the West Midlands which have been granted 'single pot' budgets allowing them to better coordinate resources across economic and social programmes to best meet their needs. Last week's announcement by Lord Patrick Vallance, UK Minister for Science, Research and Innovation, that Glasgow would be awarded £30M of Local Innovation Partnership funding, alongside its English peers, is welcome evidence that the UK Government in Lord Vallance's words is committed to 'support places with the greatest untapped productivity potential'. This latest award is testament to the power of partnership working across the city region and its innovation partners as well as with UK and Scottish governments and their agencies. And it is warmly welcomed by the GEL Board. GEL brings together senior leaders and executives from GCR's private, public and academic sectors and across key sectors including Advanced Manufacturing, Life Sciences, Finance & Business Services, Tourism & Events, Creative Economy, Digital Technology and Higher & Further Education. This unprecedented business connectivity underpins GEL's role as the primary 'business community advisor' to the GCR Cabinet and supports sectoral delivery of real economic impact. The GEL Board now has a city region-wide remit, however its focus remains the same: to drive greater strategic alignment in economic development efforts from the private, public and academic sectors and to support greater investment across Glasgow city region, across key sectors, the innovation economy and in new skills and job opportunities. GEL has responded positively to the calls from Councillor Susan Aitken, chair of the GCR Cabinet, and Stuart Patrick, CEO of Glasgow Chamber of Commerce, to define and seek greater powers to turbo charge the next phase in the development of Glasgow city region. To explore this further, the GEL Board is delighted that the Deputy First Minister and the Secretary of State for Scotland will participate in our next meeting. Encouragingly, they have both accepted and will attend together. We have shown that things work best when collaboration is prioritised. We have an opportunity to move the partnership working between GCR and the Scottish and UK governments to a new level and to provide GCR with the support to enable it to deliver for its citizens, the city region, Scotland and the UK. That is a prize that we can all get behind and the time to do it is now. Professor Sir Jim McDonald OBE is the principal of the University of Strathclyde and co-chair of the Glasgow Economic Leadership Board
Business Wire
10-06-2025
- Business
- Business Wire
AM Best Withdraws Credit Ratings of Michigan Professional Insurance Exchange
OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of 'a-' (Excellent) of Michigan Professional Insurance Exchange (MPIE) (Grand Rapids, MI). The outlook of these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn these ratings as the company has requested to no longer participate in AM Best's interactive rating process. The ratings reflect MPIE's balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings also reflect rating enhancement provided by Curi Insurance Group. MPIE's balance sheet strength assessment is supported by the strongest level of risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), and is underpinned by a significant reduction in underwriting risk following MPIE being placed into run-off effective Jan. 1, 2024. This followed its 2023 acquisition and the related loss portfolio transfer and quota share reinsurance agreements by and among Constellation Solutions, Inc., and MMIC Insurance, Inc. (MMIC), which are subsidiaries of Curi Holdings, Inc. Under these agreements, 100% of MPIE's net loss, loss adjustment expenses, and unearned premium reserves were ceded to MMIC. All eligible policies were renewed by MMIC. MPIE's balance sheet strength assessment also reflects the exchange's limited scope and decline in surplus as all subscriber savings accounts and unassigned surplus as of the date of the acquisition have been paid to subscribers. The exchange does benefit from a liquid investment portfolio and has a history of prudent reserving and favorable development. Nevertheless, future earnings prospects are limited due to recent changes in business strategy. 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 Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
Indian Express
29-05-2025
- Health
- Indian Express
Fresh 7 COVID cases in Kolkata, number of active cases in Bengal now 30
Seven new COVID-19 cases have been reported from four hospitals in Kolkata, taking the active case count in the state to 30. According to sources, two patients are currently being treated at a private hospital in Alipore. One of them, an 89-year-old man from Alipore, required oxygen support due to respiratory distress. Although his condition is now improving, he remains in isolation in the ICU. Meanwhile, a 41-year-old woman from Thakurpukur is also admitted to the same hospital. Hospital sources said she had complained of a headache, fever, and respiratory issues. Although she does not require oxygen support, she has been kept in isolation as a precaution. One COVID-positive patient has been admitted to a private hospital off EM Bypass. Additionally, two swabs tested positive at a private hospital in Salt Lake. Hospital sources confirmed that hospitalization was necessary for these two individuals. Two more patients with COVID-19 have also been admitted to the same Salt Lake hospital. At the Kolkata Port Trust Hospital, two patients currently admitted have also tested positive for COVID-19. Although the state health department has yet to issue any official directives, sources said that officials are watching out more vigilantly for possible symptoms. Two isolation wards have been kept ready at the Infectious Diseases (ID) Hospital in case the number of cases increases. Health department officials, however, said that there is no cause for concern at the moment. Meanwhile, with fresh COVID-19 cases being reported in Bengal, the Kolkata Municipal Corporation (KMC) has decided to install banners across all its health units in the city. These banners will promote awareness about basic precautions such as handwashing, wearing masks, and maintaining social distance. Deputy Mayor Atin Ghosh, who also holds the MMIC (Health) portfolio, held a meeting earlier this week with health officers from all boroughs. Speaking to the media, Ghosh said, 'Though there has hardly been any instance of the virus affecting the lower respiratory tract, elderly people with comorbidities need to be cautious. The virus can spread fast, but the chances of it being fatal, as of now, are low.' Health workers across all wards have been directed to collect information regarding COVID-19 symptoms, in addition to their usual data collection related to malaria and dengue. They have been instructed to isolate any individual showing influenza-like symptoms or signs of severe acute respiratory infection.
