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More people than ever are participating in at-home workouts. For months, gyms and fitness studios were closed. Many of these facilities are now beginning to reopen, with gym-goers needing to weigh the risk of exposure while navigating new COVID-19 procedures.
According to a TD Ameritrade study, gym membership cancellations have been booming — up a whopping 563% year over year. That’s why fitness brands are going all-in on a hybrid blend of virtual and in-person workouts.
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Virtual fitness platforms, such as Peloton, stayed ahead of the curve. And earlier this year, popular boutique fitness brand Equinox launched a virtual workout app of
The U.S. life/health industry saw more credit rating upgrades than downgrades in first-half 2020, driven primarily by improved levels of risk-adjusted capitalization. However, according to a new AM Best special report, negative rating actions could increase in the second half of the year as the COVID-19 pandemic negatively impacts companies’ sales, operations, operating performance and investments.
The Best’s Special Report, titled, “Life/Health Upgrades Outnumber Downgrades in First-Half 2020,” states that AM Best upgraded the Long-Term Issuer Credit Ratings of 12 rating units and downgraded four among life/annuity (L/A) and health carriers in the first half of 2020, compared with 15 upgrades and four downgrades in the first half of 2019. Upgrades were more concentrated in the L/A segment, which reported eight upgrades. Nearly 80% of rating actions in first-half of 2020 were affirmations, consistent with most years.
Positive rating developments for L/A/ carriers was mostly due to increased strategic