KUALA LUMPUR, Aug 29 (Bernama) -- RF IDeas Inc has appointed Menya Nsanzumuco as International Pre-Sales Engineer, effective immediately.
RF IDeas is a leading innovator and manufacturer of employee badge and credential readers for in-building applications such as computer access, identification and secure print. The company in a statement said Menya Nsanzumuco will be based in London to provide pre-sales technical and business support to new and existing customers, partners, distributors and systems integrators throughout the Europe, Middle East and Africa (EMEA) and Asia Pacific (APAC) regions. “Menya’s rich technical background paired with his innate ability to relate to customers makes him a strong choice for this role,” said Senior Vice President – Global Sales and Marketing, Tod Besse. “As RF IDeas looks to strengthen our investment in the Europe and international markets, Menya’s role will be crucial in ensuring the satisfaction of our global clientele,” Besse added. Menya has more than ten years experience in remote, field, installation and software technical sales. He worked for several Fortune 100 companies including Xerox Scanners, General Electric and most recently Philips Health Systems UK and Ireland. He has a Master’s Degree in Electronics Engineering with Satellite Engineering from the University of Surrey and is fluent in English and French. More details on https://www.rfideas.com --BERNAMA
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SÃO PAULO, Aug 29 (Bernama-BUSINESS WIRE) -- Global market research company Euromonitor International presented a new analysis, “Retail in the Age of the Empowered Consumer,” at the Latam Retail Show, the leading retail event in Latin America.
The new research identifies a new consumer type who will change the future of the global retail landscape – armed with technology, the Empowered Consumer reads and writes product or service reviews, compares prices online, and interacts with companies via social media. 26 percent of consumers worldwide are Empowered Consumers. Of these, 52 percent are under the age of 35. Their young age indicates that their behaviors will continue as they age and will influence their children, the next generation of consumers. “Convenience is important in Empowered Consumers’ shopping experience. They prefer internet-enabled devices to make their purchase, as 74 percent of them make their purchases through smartphones versus 44 percent of non-Empowered Consumers,” comments Michelle Grant, head of retailing at Euromonitor International. “They enjoy the ability to save time and order at anytime from anywhere. They also expect the same shopping experience in whichever way they choose to purchase, thus retailers must embrace omnichannel retailing to meet these needs.” Empowered Consumers are five times more likely to write a product or service review than the non-Empowered Consumers, so companies that cannot meet the Empowered Consumer’s expectations may suffer consequences even after purchase completion. “Brands and retailers no longer control the information available about their products. Empowered Consumers can be your best customers and brand ambassadors, or they can be your worst nightmare, spreading negativity about your company,” concludes Grant. To download the presentation, please visit: http://bit.ly/emi_empoweredconsumers ABOUT EUROMONITOR INTERNATIONAL Euromonitor International is the world’s leading provider for global business intelligence and strategic market analysis. We have more than 40 years of experience publishing international market reports, business reference books and online databases on consumer markets. View source version on businesswire.com: https://www.businesswire.com/news/home/20180828005018/en/ Contact Euromonitor International Nathalia Ariza, +55 11 2970 2175 Communications Executive [email protected] Source : Euromonitor International HONG KONG, Aug 28 (Bernama-GLOBE NEWSWIRE) -- BITTECH Limited launches brand new Bittech NS miner for NeoScrypt algorithm. Initially, NeoScrypt was considered to be ASIC resistant. However, finally, it lost ground. The same was with Ethash and Equihash algorithms when BITMAIN and Innosilicon launched respective ASICs.
The official release points out that new Bittech NS miner’s performance makes 63.2MH/s (equivalent to 55 Nvidia GTX1080 GPUs), power consumption is only 1250W, the price is $1,890, while the earning power is $30 as of August 29. New miner is powered by 24 chipsets, which model is kept under the hat. The miner has a regular appearance common to all other BITTECH units and is fitted with 1600W Murata/Artesun power adapter. New miner will be available in the mid of October 2018. BITTECH's mining hardware based on advanced 10nm semiconductor chips is an "all-in-one" solution with Murata/Artesyn inbuilt power supply units, supporting hot replacement. Even a newbie can set up its unsophisticated and user-friendly software. All miners are covered by 180-days warranty. BITTECH Limited was engaged in R&D with regard to 10 and 14nm advanced chips since early 2017. At the moment, the company has finished its R&D and offered own mining hardware to a wide range of customers. Aside from miners and chips, the company is going to establish four large data centers in Canada, Iceland, Estonia, and Russia. It has started the construction of Russia’s data center for 9000 miners with the total processing power of 21MW in April 2018. The company will lease a part of premises to its customers under colocation agreements. Contact Information: Bittech Limited, [email protected] A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/7eda178b-98b2-433f-89ca-f8f29f7beb33 A video accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/fb950a9d-6e1e-4b10-8780-ab7c33ed47db SOURCE : BITTECH LTD KUALA LUMPUR, Aug 28 (Bernama) -- Nestlé and Starbucks Corporation have closed the deal granting Nestlé the perpetual rights to market Starbucks Consumer Packaged Goods and Foodservice products globally, outside of the company’s coffee shops.
Both companies will work closely together on the existing Starbucks range of roast and ground coffee, whole beans as well as instant and portioned coffee besides capitalise on their experience and capabilities to work on innovation with the goal of enhancing Starbucks’ product offerings for coffee lovers globally. President and chief executive officer (CEO) of Starbucks, Kevin Johnson in a statement said the global coffee alliance with Nestlé is a significant strategic milestone for the growth of Starbucks and helps the company to amplify the brand around the world while delivering long-term value creation for Starbucks’ shareholders. Meanwhile, Nestlé CEO, Mark Schneider said the partnership demonstrates their growth agenda in action, giving Nestlé an unparalleled position in the coffee business with a full suite of innovative brands. The agreement significantly strengthens Nestlé’s coffee portfolio in the North American premium roast and ground and portioned coffee business. It also unlocks global expansion in grocery and foodservice for the Starbucks brand, utilising the global reach of Nestlé. It covers Starbucks packaged coffee and tea brands including Starbucks, Seattle’s Best Coffee, Teavana, Starbucks VIA Instant, Torrefazione Italia coffee and Starbucks-branded K-Cup pods. It excludes Ready-to-Drink products and all sales of any products within Starbucks coffee shops. Approximately 500 Starbucks employees in the United States and Europe will join the Nestlé family, with the majority based in Seattle and London. The international expansion of the business will be led from Nestlé’s global headquarters in Vevey, Switzerland. --BERNAMA New MG07SCA 14TB hard disk drives help SAS-based cloud-scale storage platforms achieve TCO objectives
TOKYO, Aug 28 (Bernama-BUSINESS WIRE) -- Toshiba Electronic Devices & Storage Corporation, a committed technology leader, today announced its new Enterprise Capacity 14TB [1] and 12TB helium-sealed SAS HDD models. The MG07SCA Series features 7,200 rpm performance, a SAS 12Gbit Interface [2], and Advanced Format Sector Technology. The hard disk drive boasts an industry-leading, 9-disk helium-sealed design and 14TB of Conventional Magnetic Recording (CMR) capacity for optimum compatibility. Toshiba’s helium-sealed design fits into industry standard 3.5-inch [3] drive bays. A 12TB model is also included in the Series offering. This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20180827005620/en/ The innovative 9-disk helium-sealed design utilizes Toshiba’s precision laser welding process, and a special top-cover design seals helium inside the drive offering high capacity and low power profile to the product. The SAS interface provides 12Gbits transfer rate performance and dual port capability for the data-path redundancy preferred by many storage solutions designers. The 14TB SAS model offers approximately a 40% increase in maximum capacity over Toshiba’s prior MG06 10TB SAS models. “Toshiba’s new helium-sealed 14TB and 12TB SAS models expand the choices available to our cloud-scale and storage solutions customers. By utilizing an innovative 9-disk design, Toshiba provides both SAS and SATA models at an industry leading 14TB capacity,” said Shuji Takaoka, General Manager of Storage Products Sales & Marketing Division at Toshiba Electronic Devices & Storage Corporation. “Our cloud-scale and storage solutions customers strongly value the power-efficient storage capacity enabled by Toshiba’s advanced 9-disk helium-sealed mechanics. By using helium to reduce the aerodynamic drag on the spinning media platters, the Toshiba 14TB model is able to provide approximately 55% (W/G[4]) lower operating power profile over the previous 10TB model, resulting in TCO [5] benefits for today’s dense storage platforms and cloud-scale service-solution architectures. Only helium-sealed HDD technology is able to deliver these customers’ TCO benefits with an amazingly low acquisition cost per GB.” Toshiba continues to expand its HDD product offerings with higher storage capacity and performance. The MG07SCA Series further illustrates Toshiba’s capability to advance the design of HDD storage devices for cloud-scale server and storage infrastructure, and to realize more cost-effective data-protection, data-retention, content serving and digital archiving. The 14TB and 12TB helium-sealed SAS HDD models are available for sampling today. For more information on the new product, please visit: https://toshiba.semicon-storage.com/ap-en/product/storage-products/enterprise-hdd/mg07scaxxx.html Follow @ToshibaStorage on Twitter For more information on Toshiba's full line of HDD storage products, please visit: https://toshiba.semicon-storage.com/ap-en/product/storage-products.html Notes: [1] Definition of capacity: A terabyte (TB) is 1,000,000,000,000 bytes. A computer operating system, however, reports storage capacity using powers of 2 for the definition of 1TB = 240 = 1,099,511,627,776 bytes and therefore shows less storage capacity. Available storage capacity (including examples of various media files) will vary based on file size, formatting, settings, software and operating system and/or pre-installed software applications, or media content. Actual formatted capacities may vary. [2] Read and write speed may vary depending on the host device, read and write conditions, and file size. [3] Form Factor: "3.5-inch" means the form factor of HDDs. They do not indicate drive's physical size. [4] Power efficiency is calculated based on active idle power consumption divided by formatted capacity. [5] Total Cost of Ownership. Product Inquiries: Toshiba Electronic Devices & Storage Corporation Storage Products Division https://toshiba.semicon-storage.com/ap-en/contact.html * Information in this document, including product prices and specifications, content of services and contact information, is current and believed to be accurate on the date of the announcement but is subject to change without prior notice. * Company names, product names, and service names mentioned herein may be trademarks of their respective companies. About Toshiba Electronic Devices & Storage Corporation Toshiba Electronic Devices & Storage Corporation combines the vigor of a new company with the wisdom of experience. Since becoming an independent company in July 2017, we have taken our place among the leading general devices companies, and offer our customers and business partners outstanding solutions in discrete semiconductors, system LSIs and HDD. Our 19,000 employees around the world share a determination to maximize the value of our products, and emphasize close collaboration with customers to promote co-creation of value and new markets. We look forward to building on annual sales now surpassing 700-billion yen (US$6 billion) and to contributing to a better future for people everywhere. Find out more about us at https://toshiba.semicon-storage.com/ap-en/company.html View source version on businesswire.com: https://www.businesswire.com/news/home/20180827005620/en/ Contact Media Inquiries: Toshiba Electronic Devices & Storage Corporation Chiaki Nagasawa, +81-3-3457-4963 Digital Marketing Department [email protected] Source : Toshiba Electronic Devices & Storage Corporation Clients in aggressively growing market can now make trades and access market information through Facebook Messenger
SINGAPORE, Aug 27 (Bernama-BUSINESS WIRE) -- TD Ameritrade Singapore Pte. Ltd. is bringing U.S. financial market updates, investor education, research and trading to its retail investors in Singapore through Facebook Messenger. TD Ameritrade’s chat bot for Messenger – powered by artificial intelligence (AI) technology and backed by live client service support – will give local retail investors one more way to access the U.S. equity markets and their investments where they are, when they need support, and in the most natural, conversational way. This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20180826005022/en/ “Our goal is to allow clients to seamlessly access TD Ameritrade features and functionality through the channels they’re familiar with and prefer,” said Sunayna Tuteja, head of strategic partnerships and emerging technologies at TD Ameritrade. “Investors in Singapore are active and engaged and have a particular affinity for Messenger, so we’re excited to bring trading and the best of TD Ameritrade education, knowledge and experiences to them through this channel.” By connecting with TD Ameritrade through Messenger, investors in Singapore can access on-demand market information, news and events; receive quotes and sector information presented in visual format with charts and graphs; and watch educational videos about investing. Equity and ETF trading is also available. Through the Messenger app, Singapore investors can also:
“We’ve seen solid growth in trading in the Singapore market as a result of our client’s high engagement rate. In fact, our Asia-based clients are eight times more active than our U.S. clients, placing a third of their trades through mobile,” said JB Mackenzie, managing director of TD Ameritrade Asia. “There is a lot of potential for us to better serve our clients in Singapore by providing investors with education on U.S. equity markets, and making information available through the channels they use every day; ultimately supporting our goal of helping investors become more comfortable investing in the U.S. equity markets.” TD Ameritrade, a U.S.-based leader in trading technology and solutions for individual investors, has a proud history of innovation dating back to its founding in 1975 that includes being the first to trade over touch-tone phone, the first to trade over the Internet, the first to offer mobile device trading, and – most recently – the first to leverage artificial intelligence to offer trading via bot.1 Investors in the U.S. can currently connect with TD Ameritrade through third-party platforms including Facebook Messenger, Amazon Alexa, Apple Business Chat and Twitter Direct Message. Scan the QR Code to connect with TD Ameritrade Singapore on Messenger. About TD Ameritrade Holding Corporation TD Ameritrade provides investing services and education to more than 11 million client accounts totaling more than $1.2 trillion in assets, and custodial services to more than 6,000 registered investment advisors. We are a leader in U.S. retail trading, executing an average of more than 780,000 trades per day for our clients, more than a quarter of which come from mobile devices. We have a proud history of innovation, dating back to our start in 1975, and today our team of nearly 10,000-strong is committed to carrying it forward. Together, we are leveraging the latest in cutting edge technologies and one-on-one client care to transform lives, and investing, for the better. Learn more by visiting TD Ameritrade’s newsroom at www.amtd.com, or read our stories at Fresh Accounts. Third party firms mentioned above are separate from and not affiliated with TD Ameritrade, which is not responsible for their services or policies. TD Ameritrade Singapore Pte. Ltd. (Reg. No. 200902152D) is licensed by the Monetary Authority of Singapore and does not provide tax, legal or investment advice or recommendations. Products and services offered in Singapore are provided by TD Ameritrade Singapore Pte. Ltd. and nothing in the published material is an offer or solicitation to conduct business in any other jurisdiction. TD Ameritrade Singapore Pte. Ltd. trading as TD Ameritrade. The TD Ameritrade logo is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank. © 2018 TD Ameritrade IP Company, Inc. Brokerage services provided by TD Ameritrade, Inc., member FINRA (www.FINRA.org) /SIPC (www.SIPC.org). 1 Sources: TD Ameritrade https://www.amtd.com/inside-td-ameritrade/our-history/default.aspx and https://www.amtd.com/newsroom/press-releases/press-release-details/2017/TD-Ameritrade-Enables-Trading-Through-Messenger/default.aspx View source version on businesswire.com: https://www.businesswire.com/news/home/20180826005022/en/ Contact TD Ameritrade Holding Corporation Christina Goethe Corporate Communications 201-369-8510 [email protected] @TDAmeritradePR or Jeff Goeser, 402-597-8464 Investor Relations [email protected] Source : TD Ameritrade Holding Corporation (GCC, Hong Kong, Singapore, UK lead NRIs investment sentiment)
SINGAPORE, Aug 27 (Bernama-BUSINESS WIRE) -- Mumbai’s leading realty firm Omkar Realtors and Developers is set to launch one of the country’s biggest mixed-use realty hubs with an estimated SGD 4.4 billion topline revenue under the brand name Omkar International District (OID), first-ever such development of about 65 acres within the key micro market of Mumbai. The EOI (Expression of Interest) for the residential inventory on offer is available now with key channel partners (CPs) in the Singapore market. This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20180824005140/en/ Located adjacent to Andheri on the western highway in Mumbai, the mixed redevelopment being undertaken by Omkar Realtors will see a record 10 million sq. ft development. Out of this, 6 million sq. ft. is dedicated to residential development while balance 4 million sq. ft. will be retail and commercial development. The current 600-plus residential units project on offer is titled “Sereno”. The RERA compliant inventory consists of 1/2 BHK units with the ticket size ranging from Rs 93 lakh onwards (365 sq. ft.-510 sq. ft. carpet area). The project offering a record 35-plus amenities and 550-plus apartments has a range of collaborations with leading names in hospitality for a 5-star hotel and services. It will also be home to Mumbai’s biggest and most premium mall spanning over one million square feet. According to Mr. Rahul Maroo, Senior Vice President of the mid-sized conglomerate, Omkar Realtors: “The project’s EOI has opened to an encouraging response from the investors and end-users community within India and key International markets including Singapore. From our International inventory allocation of 150+ units, we have already crossed 90-plus EOI consents from GCC, UK, Hong Kong and Singapore. The NRI investors have shown a renewed bullish sentiment in our latest Mumbai development as the product pricing, designing and ROI potential meets their investment aspirations.” Mr. Maroo added that NRIs, particularly from the Singapore market, are keenly eyeing inventory in areas with upcoming infrastructure developments such as Metro, Monorail, new link roads connecting the East-West Corridors of Mumbai city and Andheri-Jogeshwari east highway corridor is one such key location in India’s prime realty market. Project Sereno, strategically located on the Western Express Highway, is within a 7-minute drive to domestic and international airports and is located across the road of the upcoming Metro rail. Mr. Maroo further stated that NRI investors and customers today are primarily looking at four factors to invest in the Mumbai realty market; namely minimum initial investment, RERA compliance, high rental yield potential and a brand which has proven delivery track record. “Brand Omkar, which is a mid-sized corporate conglomerate, scores favorably on all these four counts,” he remarked. The key target customer groups in this micro market spans SME’s, trading community, corporate professionals, media & entertainment industry. The location is one of the most sought after by Mumbai’s film and television fraternity including artistes and production houses. Omkar’s NRI outreach: Omkar has a 4500-strong customer base spanning pan India locations and key global NRI communities. In 2017, the customer and investors traction had been on the increase from NRI markets, particularly from the business and corporate communities. Currently, the brand enjoys a 650-plus customer base from international markets. Globally based NRI investors/customers base spanning corporate professionals and business communities have historically found connect with Mumbai’s trade and finance markets, apart from being the home country. These factions have been key investors across all ticket sized realty projects in Mumbai. Within the key markets of GCC, UK, Singapore, Hong Kong, Land USA, Omkar had notched up an impressive sale of 100-plus units for its Signet (Mumbai) residential project launched in mid-2017 and a record 250-plus units for its Lawns & Beyond (Mumbai) residential project launched in November 2017. The marked investment interest level from global investors is indicative of high trust quotient and transparency factor prevalent amongst customers for leading branded players in Mumbai’s residential market. “Omkar’s reach out focus directly and indirectly with fast-expanding global customer base has grown steadily over the years and we are committed to engaging customers emerging from this region in terms of empowering them with in-depth product experience, advance product awareness, flexible payment solutions and dedicated CRM,” Mr. Maroo added. Today, Brand Omkar has successfully designed projects aimed at luxury gated communities. This includes its most anticipated ultra-luxury residential development Omkar 1973 Worli and the largest and tallest luxury gated community in Mumbai’s suburbs, Omkar Alta Monte. Other key projects include Omkar Meridia and VIVE (Near BKC), Vayu (Mahim), Veda (Parel) and Ananta (Goregaon East), Crescent Bay (Parel) - JV with L&T Realty, Piramal Mahalaxmi (Mahalaxmi) - JV with Piramal Realty, Serendipity (BKC) - JV with Forum Group and Signet by Omkar (Malad East). View source version on businesswire.com: https://www.businesswire.com/news/home/20180824005140/en/ Contact Omkar Realtors & Developers Pvt. Ltd. Mr. Suresh Rathod, DGM - Corporate Communications Hand Phone - 919820007348 Direct – 912266254383 [email protected] www.omkar.com Source : Omkar Realtors and Developers KUALA LUMPUR, Aug 23 (Bernama) -- VistaJet is inviting Michelin award winning Hong Kong restaurant to re-invent its menu for passengers during the Chinese Mid-Autumn festival.
VistaJet Ltd with Duddell’s will add on-board Michelin stars cantonese dining experience with exclusive in-flight menu and limited-edition mooncakes to celebrate the upcoming festival. President of Asia at VistaJet, Leona Qi said the idea behind the campaign starts with their shared passion for curating one-of-a-kind discovery experiences. Both VistaJet and Duddell’s match welcoming attitude and a passion for art, to create the perfect surrounding to share good food and holiday celebration, a statement said. The exquisite food is not limited to the air - guests will be able to enjoy the VistaJet menu in September at Duddell’s restaurants in both Hong Kong and London, which offer classic Cantonese favorites in a refined and artistic setting. Duddell’s coveted cream custard mooncakes will also be made available outside of their Hong Kong restaurant for the first time. The delicacies will come in a limited-edition gift box and bag featuring artwork by celebrated Hong Kong-based painter, Chu Hing Wah. The exclusive festive offering is dedicated to all VistaJet members’ appreciating fine dining experiences and looking for suggestive ways to celebrate the holiday with seasonal menu for flights departing from Hong Kong. The menu is comprised of double-boiled black chicken soup with qi zi herbs and fish maw -- a rich and nutritious dish brimming with collagen from the fish maw -- and the Cantonese delicacy braised whole African abalone five heads with shiitake mushroom. Meanwhile, Duddell’s London will also present its own menu for flights departing from the city including European favorites and regional variations. VistaJet is the first and only global aviation company. It has flown corporations, governments and private clients to 187 countries, covering 96 per cent of the world. More information at https://www.vistajet.com. -- BERNAMA KUALA LUMPUR, Aug 23 (Bernama) -- LG Chem -- a leading contender of Sea Water (SW) reverse osmosis (RO) -- awarded with three contracts to supply Brackish Water (BW) RO membranes to major utilities in the U.S.
President of IT&E Materials Division in LG Chem, Cheoldong Jeong said the company has made great progress in BW RO business in both municipal and industrial sectors after launching BW RO product line two years ago. In August 2018, LG Chem received a contract to supply replacement membranes to the Silicon Valley Advanced Water Purification Center -- the largest plant of its kind in northern California and the focal point of the Santa Clara Valley Water District’s recycled water expansion. It also received a contract to supply 3,170 energy saving BW ES elements in June to the Ground Water Replenishment System -- the world’s largest indirect potable reuse facility -- in the Orange County Water District, a statement said. LG Chem has won a replacement bid in April for the Edward C. Little Water Recycling Facility in the West Basin Municipal Water District following a successful on-site trial last year and supplied anti-fouling BW AFR membranes to the facility. With the recent success, LG Water Solutions was honored with Distinction in the Water Technology Company of the Year at GWI’s 2018 Global Water Awards. More information at http://www.lgwatersolutions.com. -- BERNAMA HONG KONG, Aug 24 (Bernama-BUSINESS WIRE) -- A.M. Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” from “a-” of Hanwha General Insurance Company Limited (HGI) (South Korea). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect HGI’s balance sheet strength, which A.M. Best categorizes as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. HGI’s ratings also consider the strategic importance to its parent company, Hanwha Life Insurance Co., Ltd. (Hanwha Life). HGI’s strong balance sheet strength is supported by its risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), being at the very strong level after the issuance of hybrid bonds in July 2018. HGI has high but declining asset leverage and premium leverage ratios, as well as a relatively more aggressive investment strategy. The rating upgrades are based on HGI’s improved risk-adjusted capitalization in 2018 due to the issuance of hybrid bonds and an expected high net profit retention for the full fiscal year. The company reclassified a large part of its bond portfolio from available for sale to held-to-maturity in 2018, reducing the potential volatility that a rise in interest rates could bring to its capital and surplus. HGI’s operating performance has improved over the past five years, mainly driven by increases in net investment income. In terms of underwriting performance, HGI’s loss ratio has declined to the lower range of the industry in 2017. However, its combined ratio remains elevated due to a high expense ratio, reflecting its relatively small premium base relative to its peers. In regard to business profile, HGI is the sixth-largest non-life insurance company in South Korea. Its market share, in terms of direct premiums written, has slowly increased over the past five years and reached 7% in 2017. HGI benefits from the Hanwha brand and by being a subsidiary of Hanwha Life, South Korea’s second-largest life insurer in terms of premium income in 2017. HGI is important to Hanwha Life in terms of business and earnings diversification. It has received capital support from Hanwha Life and the Hanwha Group upon issuing new shares. HGI also benefits from access to Hanwha Life’s distribution channel, and from cooperation in areas such as information technology, asset management and risk management. Positive rating action is unlikely in the near term. Negative rating actions could occur if there is a significant deterioration in the company’s risk-adjusted capitalization. Negative rating actions also could occur if there is a significant decline in the parent company’s financial strength and credit profile. Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication. This press release relates to Credit Ratings that have been published on A.M. 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 A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases. A.M. Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information. Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. http://mrem.bernama.com/viewsm.php?idm=32539 |
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