AM BEST AFFIRMS CREDIT RATINGS OF KB INSURANCE CO., LTD.

HONG KONG, Nov 3 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of KB Insurance Co., Ltd. (KBI) (South Korea). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect KBI’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. The ratings also reflect the support that the company receives from its parent, KB Financial Group Inc. (KB Group) and its strategic importance to KB Group.

KBI’s risk-adjusted capitalisation has remained at the very strong level, as measured by Best’s Capital Adequacy Ratio (BCAR). The company exhibited good accessibility to the capital market through the recent issuances of subordinated bonds. Other balance sheet strength considerations include KBI’s relatively low debt leverage and healthy coverage ratios, as well as its conservative investment strategy.

AM Best assesses KBI’s operating performance as adequate, with a weighted five-year average consolidated return-on-equity ratio of 9.0% (2018-2022) and an operating ratio of 96.4%. The company’s underwriting profitability improved materially in 2022, mainly driven by favourable long-term line performance as a result of decreased medical indemnity loss ratio due to several rounds of rate hikes and stabilised medical claims. KBI’s investment income continues to be a major source of earnings with a stable trend in its net investment returns.

As a wholly owned subsidiary of KB Group, one of the largest financial holding companies in South Korea, KBI remained the fourth-largest non-life insurer in South Korea with a stable market share of approximately 13%, based on gross premiums written in 2022.

KBI is important to KB Group strategically in terms of business diversification given that it is the only non-life insurer within the group. Since its affiliation to KB Group in 2015, KBI has a track record of receiving explicit support including direct capital support and a no-dividend policy between 2019 and 2022 in preparation for new regulatory regimes, such as IFRS 17 and K-ICS. Implicit support includes shared distribution channels and group-wide marketing activities under one KB brand.

Negative rating actions could occur if there is a significant deterioration in KBI’s balance sheet strength fundamentals or if support from KB Group is reduced to a degree that no longer supports the current level of enhancement. Positive rating actions could occur if the company’s operating performance demonstrates strong and consistent results to positively distinguish itself from industry peers. 

http://mrem.bernama.com/viewsm.php?idm=47425

MARBLE REINSURANCE CREDIT RATINGS AFFIRMED - AM BEST

KUALA LUMPUR, Nov 3 (Bernama) -- Global credit rating agency AM Best has affirmed Micronesia’s Marble Reinsurance Corporation (Marble Re) Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent).

The outlook of these credit ratings is stable, reflecting Marble Re’s balance sheet strength, which the rating agency assesses as strong, as well as its strong operating performance, neutral business profile, and appropriate enterprise risk management.

AM Best in a statement said the balance sheet strength was well-supported by Marble Re’s risk-adjusted capitalisation, which was assessed at the strongest level, as measured by Best’s Capital Adequacy Ratio.

The company’s capital base, albeit small, is viewed to be sufficient supported by low net underwriting leverage and minimal investment risk from a highly liquid and conservative investment portfolio.

Marble Re’s operating performance has been consistently strong with a five-year (2018-2022) average combined ratio of 59 per cent.

For the fiscal year ended March 31 the company recorded notable growth in premium income and net profit due to the strong performance of Marubeni Corporation’s trading business, which was attributable to higher commodity prices and foreign exchange benefits from Japanese Yen depreciation.

Marble Re’s combined ratio is expected to remain favourable and below 60 per cent. Notwithstanding the moderate volatility in its major business line, primarily due to fluctuations in the commodity price, AM Best expects the company’s underwriting margin will remain favourable over the medium term supported by strict underwriting discipline and a conservative reinsurance programme.

As a wholly owned subsidiary and a single-parent captive of Marubeni Corporation, one of Japan’s largest general trading companies, Marble Re provides reinsurance and insurance protection against group-related risks across different regions, and it is well-integrated within the parent group with respect to risk management, corporate governance and internal control systems.

 -- BERNAMA

NEW TRANSPORTATION MEANS AT TOMORROW.MOBILITY WORLD CONGRESS

KUALA LUMPUR, Nov 3 (Bernama) -- Fira de Barcelona and EIT Urban Mobility, an initiative of the European Institute of Innovation and Technology (EIT) and a body of the European Union will jointly organised Tomorrow.Mobility World Congress (TMWC) from Nov 7 to 9 in Barcelona, Spain.

Deemed an ultimate platform for sustainable and intelligent urban mobility, over 100 international experts will come together at the event, to address the crucial challenges the transportation sector is facing and share effective, proven solutions.

The conference programme is structured around eight themes, namely Data Spaces; Inclusivity, Affordability & Fairness; Connected, Cooperative & Automated Mobility; Sustainable Urban Logistics; Multimodality; Urban Air Mobility; Energy Transition; and Active Mobility, according to a statement.

TMWC will focus on some of the key topics, including strategies to support public transport as a crucial element to make cities more liveable and meet ambitious emission reduction targets, the creation of a shared mobility data space to deploy extensive multimodal travel, and overcoming the challenges to fully implement autonomous vehicles.

Among some 100 speakers are San Francisco MTA Chief Innovation Officer and X (Alphabet’s Moonshot Factory) advisor, Timothy Papandreou; Chair of the Committee on Transport and Tourism at the European Parliament,  Karima Delli; and Los Angeles Metropolitan Transportation Authority Chief Innovation Officer, Seleta Reynolds.

The congress will also feature an exhibition space where 130 companies including BSM, Deloitte, KIA, Moventis, PTV Group, PricewaterhouseCoopers, Racc, Renfe, and Sener will showcase their latest products.

TMWC will be held alongside Smart City Expo World Congress, Tomorrow.Building, Tomorrow.BlueEconomy, focusing on the opportunities of the blue economy, apart from PUZZLE X, in which all together the events will gather over 25,000 visitors, 1,000 exhibitors, over 800 cities and more than 600 speakers in Barcelona.

-- BERNAMA

RESOLIAN BUYS CHINA-BASED BIOANALYTICAL CRO DENALI MEDPHARMA

KUALA LUMPUR, Nov 2 (Bernama) -- Resolian, a global bioanalytical contract research organisation (CRO) specialising in drug metabolism and pharmacokinetics for small and large molecules has acquired China-based bioanalytical CRO, Denali Medpharma.

Resolian Chief Executive Officer (CEO), Patrick Bennett in a statement said the strategic addition of Denali will significantly enhanced the company’s capabilities and strengthened its position in the global market.

“Denali’s founders and core scientists are internationally recognised across pharmaceutical research and development analysis and we are particularly excited to add Denali’s oligo, mRNA, and liposomal expertise to Resolian’s portfolio of services.

“We look forward to leveraging our growing company’s strengths to continue driving innovation and creating lasting value for our clients and stakeholders,” added Bennett.

Meanwhile, Denali CEO, Min Meng said the company was founded by a group of United States (US)-trained bioanalytical experts in a state-of-the-art lab facility in China to provide exceptional service for domestic and international clients.

“The Denali team is thrilled to join Resolian. We look forward to continuing this track record and offering even greater capabilities and trial flexibility as part of Resolian.”

Currently operates bioanalysis laboratory in the US, the United Kingdom, Australia and China, Resolian can initiate a project on four continents and easily transfer validated methods across labs, allowing therapeutic trials to extend to virtually any destination without changing bioanalytical CROs.

-- BERNAMA

TDCX CONTINUES EUROPEAN GROWTH TRAJECTORY WITH NEW ROMANIAN OFFICE

^{Daniel Mereuta, Country Director of TDCX Romania (first row, fifth from right) and employees settling into their new office space. (Photo: Business Wire)}


BUCHAREST, Romania, Oct 30 (Bernama-BUSINESS WIRE) -- TDCX (NYSE: TDCX), an award-winning digital customer experience (CX) solutions provider for technology and blue-chip companies has deepened its presence in Europe through its move to a bigger campus in Romania. Located in the northern part of Bucharest in Green Court Campus, the heart of the most dynamic business district in the north of Bucharest, the campus boasts inviting meeting spaces, recreational areas, a cafeteria and a cinema room for employees to enjoy movie nights together.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231029584846/en/

 

The expansion of TDCX’s Romanian campus represents the company's growth in the region and underscores its commitment to help more clients tap Europe as an outsourcing destination.

In just over two years, TDCX Romania has doubled its employee headcount, serving clients across diverse industries including automotive, e-sports, health-tech and software. Apart from serving existing clients and the new mandates, the expanded Romania campus is a strategic investment that will better equip TDCX to meet future client needs.

TDCX’s Romanian campus already has the ability to provide support in 15 languages, thus enabling it to deliver the type of multilingual and personalized service that is needed to serve Europe’s linguistically and culturally diverse market.

Ms. Sophie Chelmick, Executive Vice President, EMEA, TDCX, said, “Our campus in Bucharest is an important hub for our Europe operations. Romania is situated in the heart of Europe, making it easy to collaborate with clients and partners across the continent. Its business-friendly environment, cost-effectiveness and skilled workforce make it a favorable location for outsourcing, and we see strong potential in expanding our presence here. We hope that through our efforts to grow our Romanian campus, we will be able to attract interesting jobs that will lead to meaningful careers for our talents here.”

Contributing to the growth of Europe’s CX industry

The need for good CX is becoming increasingly important among European companies. Almost nine in 10 (89 per cent) of mid-sized and enterprise level companies in Europe acknowledge that CX innovation is required to protect their business from competitors¹.

This is echoed by a report² that stated that there is room to provide European customers more personalized services. This includes enabling frictionless and conversational customer interactions on a single channel. Brands therefore must continually invest and deliver improved experiences to keep their customers.

Mr. Daniel Mereuta, Country Director, TDCX said, "Today’s customers are better informed, better connected, and more demanding than before. Hence, it is getting increasingly tough for brands to navigate customer expectations, keep pace with technological innovations and hire the talent needed to drive customer satisfaction.

“As a specialist CX provider, we have an intimate understanding of the elements that are needed to deliver exceptional service and have refined our approach through years of experience. Our ability to balance technological innovations with the human touch, combined with our focus and agility, enables us to help our clients set up CX teams in less than three months. This covers the entire process from establishing the delivery model and hiring and training the required talent, thus providing clients with the speed and efficiency that is required to start delivering on their goals quickly.”

TDCX’s new Romanian campus is situated within a LEED Platinum-certified building, consistent with the company’s commitment to environmental sustainability in its choice of buildings. It is easily accessed by public transportation and is supported by various facilities, including a prominent shopping mall across the street.

About TDCX

Singapore-headquartered TDCX provides transformative digital CX solutions, enabling world-leading and disruptive brands to acquire new customers, to build customer loyalty and to protect their online communities.

TDCX helps clients achieve their customer experience aspirations by harnessing technology, human intelligence and its global footprint. It serves clients in fintech, gaming, technology, travel and hospitality, digital advertising and social media, streaming and e-commerce. TDCX’s expertise and strong footprint in Asia has made it a trusted partner for clients, particularly high-growth, new economy companies, looking to tap the region’s growth potential.

TDCX’s commitment to delivering positive outcomes for our clients extends to its role as a responsible corporate citizen. Its Corporate Social Responsibility program focuses on positively transforming the lives of its people, its communities and the environment.

TDCX employs more than 18,700 employees across 30 campuses globally, specifically in Brazil, Colombia, Hong Kong, India, Indonesia, Japan, Malaysia, Mainland China, Philippines, Romania, Singapore, South Korea, Spain, Thailand, Türkiye, and Vietnam. For more information, please visit www.tdcx.com.

____________________________
¹ Source: Zendesk. Report: The State of CX Maturity among Midsize and Enterprise Companies of Europe
² Source: Zendesk Blog: Here’s how EU businesses are keeping up with the latest customer expectations


View source version on businesswire.com: 
https://www.businesswire.com/news/home/20231029584846/en/

Contact

For enquiries:
media@tdcx.com

Source : TDCX

Cellebrite Furthers Global Commitment and Partnerships with Global Law Enforcement Community at International Association of Chiefs of Police Conference

TYSONS CORNER, Va. and PETAH TIKVA, Israel and SAN DIEGO, Oct. 24, 2023 (GLOBE NEWSWIRE) -- Cellebrite (NASDAQ: CLBT), a global leader in Digital Intelligence (“DI”) solutions for the public and private sectors, wrapped up a four-day presence at the 2023 International Association of Chiefs of Police (IACP) Annual Conference and Exposition. More than 16,000 police chiefs and other senior law enforcement professionals attended the single largest and most impactful law enforcement event of the year.

“IACP is a landmark event in the law enforcement community, and we are pleased to take this opportunity to reinforce our strong ties and relationships with law enforcement professionals,” said Yossi Carmil, Cellebrite CEO. “These officials understand perhaps better than most, how our shared mission for justice never sleeps, and I am incredibly grateful for their passion, drive and dedication. I am equally grateful for my team for their unrelenting efforts in support of our business and customers around the world.”

Highlights of Cellebrite’s event presence include:

• Center-floor exhibition booth space with demonstrations and presentations of the full suite of Cellebrite end-to-end solutions for the public sector including Pathfinder and Guardian;
• Cellebrite’s CEO and President of North America convened with DEA senior leadership, 132 senior law enforcement and chief leaders to discuss streamlining and modernizing the handling of digital data from time of extraction to prosecution;
• Multiple meetings with key officials representing many of the largest cities across America with 60 product demonstrations and more than 500 times as many booth visits when compared to 2022;
• An interactive “Solve Suite” where law enforcement gained hands-on experience using Cellebrite’s powerful digital intelligence solutions, including demoing its newest innovation, Smart Search, which led a police chief to expedite a request for Cellebrite solutions that was sitting on his desk;
• Panel moderation by Jared Barnhart, Digital Intelligence Specialist at Cellebrite, with key partners in the fight against human trafficking, including the National Center for Missing and Exploited Children (NCMEC), the Exodus Road and Raven – this powerful panel was one of the top-attended programs at the event;
• Presentation of “Unraveling Crime Mysteries” with Jared Barnhart, Digital Intelligence Specialist at Cellebrite, who shared his law enforcement expertise while discussing real-world examples of how digital intelligence solutions can enhance investigations to solve cases faster, smarter and more defensibly to accelerate justice;
• Connect Lounge Sponsorship, a popular meeting spot for law enforcement professionals to network with one another
  

The panel discussion on child trafficking was a remarkable convergence of global leaders committed to safeguarding children worldwide. They united to synergize their collective expertise for an accelerated mission. It called upon all law enforcement agencies and technology vendors to integrate cutting-edge solutions and increase the number of rescued children. The “Unraveling Crime Mysteries” presentation illuminated cases solved through technology, emphasizing the need for agencies to adopt smarter, tech-driven approaches. In its entirety, these platforms at IACP emphasized Cellebrite's unwavering commitment to collaborate with philanthropic and agency partners, aiming to make the modernization of investigations a reality, simplifying and expediting critical cases.

“I am so proud to be part of the Cellebrite team and to witness the partnership we have with the brave individuals in law enforcement both stateside and around the world,” Marque Teegardin, President, Cellebrite Americas. “Our agile, global team is steadfast in our support for one another, and we remain committed to ensuring our customers and partners are always equipped, ready and Cellebrite-powered.”

Media Contact:
Victor Cooper
Sr. Director of Corporate Communications + Content Operations
Victor.cooper@cellebrite.com
+1 404.804.5910

Investor Relations Contact:
Andrew Kramer
Vice President, Investor Relations
investors@cellebrite.com
+1 973.206.7760

About Cellebrite
Cellebrite’s (NASDAQ: CLBT) mission is to enable its customers to protect and save lives, accelerate justice, and preserve privacy in communities around the world. We are a global leader in Digital Intelligence solutions for the public and private sectors, empowering organizations in mastering the complexities of legally sanctioned digital investigations by streamlining intelligence processes. Trusted by thousands of leading agencies and companies worldwide, Cellebrite’s Digital Intelligence platform and solutions transform how customers collect, review, analyze and manage data in legally sanctioned investigations. To learn more, visit us at www.cellebrite.com and https://investors.cellebrite.com.

HITACHI ENERGY PASSES 150 GW IN HVDC LINKS INTEGRATED INTO THE POWER SYSTEM, EXPANDS CAPACITY TO MEET ACCELERATING ENERGY TRANSITION DEMAND

• $3 billion investment globally, in manufacturing and engineering footprint, R&D and partnerships • Workforce expansion with more than 8,000 people hired • 150 GW of HVDC links integrated into the power system by Hitachi Energy


Zurich, Switzerland, Oct 24 (Bernama-GLOBE NEWSWIRE) -- Hitachi Energy, a global technology leader that is advancing a sustainable energy future for all, announced today that it has enabled more than 150-gigawatts (GW) of high-voltage direct current (HVDC) links around the world integrated into the power system – sufficient to meet the peak power demand for Japan. The announcement follows the delivery of the first power from Dogger Bank, the world's largest offshore wind development, via the UK’s first-time use of HVDC technology on a wind farm. 

The company has consistently expanded its capacity to meet accelerating demand driven by the clean energy transition. Since 2020, when Hitachi began its strategic investment, Hitachi Energy has increased its workforce by more than 8,000. Within the same period, the company also invested $3 billion in manufacturing and engineering footprint, and Research & Development (R&D), expanding collaboration and driving the company to become the strategic partner throughout the customers' entire lifecycle.

"Electricity will be the backbone of the entire energy system and will help to drive the clean energy transition. Today’s announcement shows how we are enabling our customers to accelerate the development of the power grids that energy system requires," said Claudio Facchin, CEO of Hitachi Energy.

The continuing investments are in line with the Hitachi Energy 2030 Plan and Hitachi's Mid-term Management Plan 2024.

Investments in the three focus areas of Hitachi Energy 2030 Plan:

1. Continuously strengthening the power grid core business
The company has invested heavily in expanding capacity and new hires across the globe in Europe, the Middle East and Africa, North and South America, and Asia Pacific. Examples from this year alone are the power quality factory and the global technology and innovation center in India, and the transformer factory in China. In addition, it has recently invested in Sweden, Switzerland, and the US.

Investments in R&D 
Sustainable solutions: EconiQ™ contains no sulfur hexafluoride (SF₆) proven to significantly reduce carbon footprint throughout the entire life cycle. Next-generation power semiconductors like RoadPak for e-Mobility. Digital technologies like Lumada Asset Performance Management and IdentiQ™ for HVDC and power quality.

2. Doubling efforts on digital and services and expansion at the edge of the energy system
Digitalization and Service: The new generation of Lumada Asset Performance Management software solution features advantages of Artificial Intelligence; the acquisition of majority stake in eks Energy, a power conversion technology provider to enhance storage and flexibility at the edge of the energy system. 

3. Innovation, synergies, partnerships, and M&A to accelerate growth
Increasingly strong collaborations have led to new business models, framework agreements for capacity reservation, and global standards, allowing for better planning to meet demands. Some key projects enabled by the company’s technologies are Champlain Hudson Power Express, TenneT’s 2GW Program, and Project Lightning, a first-of-its-kind subsea power transmission project.

The IEA report, “Electricity Grids and Secure Energy Transitions” states that grid investment needs to nearly double by 2030 to over $600 billion per year after stagnation at the global level, and building out of grids requires a secure supply chain and a skilled workforce.  

Rapid electrification of transport, buildings, and industries is increasing the demand for secure, sustainable, and flexible electricity globally. The company is committed to continuously strengthening its business toward the forecast of the 2050 energy system; where it sees an installed global power generation capacity of four times today and a transfer of electrical energy, which is three times compared to what it is today.

“Since we started the journey with Hitachi in July 2020, we have been able to accelerate our growth and expansion, also leveraging synergies across Hitachi Group,” Facchin added. “With more than a century of energy expertise, combined with digitalization as an enabler, we can scale at pace and provide innovative services and solutions to our customers. As Hitachi, we have a unique position across IT, OT and product capabilities to support our customers throughout the entire lifecycle.”

                                                                                                                                 -END-

About Hitachi Energy Ltd.
Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. We serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Together with customers and partners, we pioneer technologies and enable the digital transformation required to accelerate the energy transition towards a carbon-neutral future. We are advancing the world’s energy system to become more sustainable, flexible and secure whilst balancing social, environmental and economic value. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries. Headquartered in Switzerland, we employ around 40,000 people in 90 countries and generate business volumes of over $10 billion USD.
https://www.hitachienergy.com
https://www.linkedin.com/company/hitachienergy
https://twitter.com/HitachiEnergy

About Hitachi, Ltd.
Hitachi drives Social Innovation Business, creating a sustainable society through the use of data and technology. We solve customers' and society's challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products. Hitachi operates under the business structure of “Digital Systems & Services” - supporting our customers’ digital transformation; “Green Energy & Mobility” - contributing to a decarbonized society through energy and railway systems, and “Connective Industries” - connecting products through digital technology to provide solutions in various industries. Driven by Digital, Green, and Innovation, we aim for growth through co-creation with our customers. The company’s consolidated revenues for fiscal year 2022 (ended March 31, 2023) totaled 10,881.1 billion yen, with 696 consolidated subsidiaries and approximately 320,000 employees worldwide. For more information on Hitachi, please visit the company's website at https://www.hitachi.com.

Attachments

• Hitachi Energy passes 150 GW in HVDC links integrated into the power system, expands capacity to meet accelerating energy transition demand
• Hitachi Energy passes 150 GW in HVDC links integrated into the power system, expands capacity to meet accelerating energy transition demand

Jocelyn Chang
Hitachi Energy
media.relations@hitachienergy.com

SOURCE : Hitachi Energy Ltd.