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AM Best Affirms Credit Ratings of Stewart Title Group Members

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AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of a- for the member companies of Stewart Title Group (Stewart). AM Best also has affirmed the Long-Term ICR of bbb- for the parent holding company, Stewart Information Services Corporation (headquartered in Houston, TX) [NYSE: STC]. The outlook of these Credit Ratings (ratings) is stable. See below for a listing of companies.

The ratings reflect Stewarts balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

These rating factors are a result of the groups favorable levels of risk-adjusted capitalization, and its consistently profitable underwriting and investment results. Stewart also benefits from its market position as the fourth-largest title insurance writer in the United States and writing business in all 50 states, as well as its growing international presence. This global diversification helps mitigate the concentration risk inherent to being a monoline writer of title insurance. AM Best views the recently announced acquisition of ET Investments as favorable in operating performance of Stewart.

Stewart Title Guaranty de Mexico, S.A. de C.V. became a member of Stewart on July 28, 2018, based upon the importance of its licensing in Mexico, which is necessary due to domestic regulations that do not permit branches to operate in Mexico. In addition, the company is a subsidiary of Stewart, and is fully integrated into the group via underwriting, reinsurance and claim processes, as well as through the administrative support provided by the U.S. operations.

Positive rating action may result from positive underwriting performance trends, accompanied by growth in risk-adjusted capitalization. Significant deterioration in operating performance that results in a decline in risk-adjusted capitalization may result in negative rating actions. Negative rating action also may result should the holding company experience liquidity issues or a significant increase in leverage.

The FSR of A- (Excellent) and the Long-Term ICRs of a- have been affirmed with a stable outlook for the following members of the Stewart Title Group:

  • Stewart Title Guaranty Company
  • Stewart Title Insurance Company
  • Stewart Title Limited

This press release relates to Credit Ratings that have been published on AM Bests 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 Bests Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings. For information on the proper media use of Bests Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Bests Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Kourtnie Beckwith

Financial Analyst

+1 908 439 2200, ext. 5124

[email protected]

Christopher Sharkey

Manager, Public Relations

+1 908 439 2200, ext. 5159

[email protected]

Fred Eslami

Associate Director

+1 908 439 2200, ext. 5406

[email protected]

Jim Peavy

Director, Public Relations

+1 908 439 2200, ext. 5644

[email protected]

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Huaneng Power International, Inc.: RMB 9.133 Billion Net Profit Attributable to Shareholders for the Three Quarters of 2020 Increased by 69.34%

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BEIJING, Oct. 27, 2020 /PRNewswire/ — Huaneng Power International, Inc. ("HPI", or the "Company") (NYSE: HNP; HKEx: 902; SSE: 600011) today announced its unaudited operating results prepared in accordance with the PRC GAAP for the nine months ended September 30, 2020.

For the three quarters of 2020, the Company and its subsidiaries recorded consolidated operating revenue of RMB 121.823 billion (equivalent to approximately USD 17.889 billion), representing a decrease of 4.31% compared to the same period of last year. The net profit attributable to shareholders of the Company was RMB 9.133 billion (equivalent to approximately USD 1.341 billion), representing an increase of 69.34% compared to the same period of last year. The earnings per share was RMB 0.50 and earnings per ADS amounted to RMB 20.13 (equivalent to approximately USD 2.957). The increase of Company’s net profit was mainly due to the decrease of fuel prices.

Encl: The unaudited summary financial information of the Company for the nine months ended September 30, 2020. The summary financial information is published under the listing regulations of the China Securities Regulatory Commission. The summary financial information was prepared in accordance with the Accounting Standards for Business Enterprises of the People’s Republic of China ("PRC GAAP"), which differs from the International Financial Reporting Standards ("IFRS") and the accounting principles generally accepted in the United States of America ("US GAAP"). No reconciliation with IFRS or US GAAP has been made in the presentation of the summary financial information. 

~End~

Encl: The unaudited summary financial information of the Company for the nine months ended September 30, 2020. The summary financial information is published under the listing regulations of the China Securities Regulatory Commission. The summary financial information was prepared in accordance with the Accounting Standards for Business Enterprises of the People’s Republic of China ("PRC GAAP"), which differs from the International Financial Reporting Standards ("IFRS") and the accounting principles generally accepted in the United States of America ("US GAAP"). No reconciliation with IFRS or US GAAP has been made in the presentation of the summary financial information. 


About Huaneng Power International, Inc.

Huaneng Power International, Inc. is one of China’s largest listed power producers with controlled generation capacity of 111,971 MW and equity-based generation capacity of 98,217 MW. The power plants of the Company are located in 26 provinces, autonomous regions and municipalities in China. The Company also has a wholly-owned power company in Singapore, and an invested power company in Pakistan.

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FreshToHome raises $121M – the largest ever Series C funding in India Consumer Tech

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– Led by Investment Corporation of Dubai (ICD), Investcorp, Ascent Capital, The United States International Development Finance Corporation (DFC) and Allana with significant follow-on investment from Series B lead investor Iron Pillar

– Capital to support fast-paced expansion of the brand in India and the Middle East – targeting $200M Sales in 2021 while maintaining current EBITDA profitability in mature cities through deeper supply chain integration on the platform

BANGALORE, India and SINGAPORE, Oct. 27, 2020 /PRNewswire/ — FreshToHome, the world’s largest fully integrated online brand in fresh fish and meat e-commerce raised $121M in Series C funding led by Investment Corporation of Dubai (ICD) – the principal investment arm of the Government of Dubai, Investcorp – a leading global manager of alternative investments, Ascent Capital – a leading India-focused growth capital provider, U.S. Government’s development finance institution – DFC, the Allana Group and other investors. Iron Pillar, the lead investor from Series B participated in this round with a significant investment of $19M. Barclays was an advisor for the transaction.

FreshToHome raises $121M – the largest ever Series C funding in India Consumer Tech
FreshToHome raises $121M – the largest ever Series C funding in India Consumer Tech

 

"COVID-19 transformed the fish and meat purchasing behaviour of consumers dramatically. Due to safety concerns, consumers made the habit-forming shift to e-commerce and we saw online demand for our products going up many folds this year thanks to safety guarantee of ‘100% Fresh and 0% Chemicals‘. FreshToHome stands by the brand’s assurance and creates enormous social and economic impact by enabling sellers to directly source from the fishermen and farmers with its patent-pending AI-powered supply chain technology and aided by a state-of-the-art cold chain. We are just beginning to scratch the surface of a very large market and the current capital raise will help us realize our full potential through rapid expansion in India and the Middle East," said Shan Kadavil, Co-Founder and CEO of FreshToHome.

FreshToHome is the world’s largest fully integrated online brand in fresh fish and meat e-commerce, with approximately 1.5 Million (15 Lakh) B2C orders per month and $85M (~INR 600 Crore) annualized sales on the platform.

"We are pleased to partner with FreshToHome and to support the vision of management and the growth of the company. FreshToHome is a leader in leveraging AI-based technology and business innovation to bring a superior value proposition to customers and suppliers in a large and important market. At ICD, we seek to partner with companies like FreshToHome that are able to break new ground for the greater good while also enjoying a large shareholder value creation opportunity. This successful fundraising is a strong recognition of the company’s achievements and significant potential," said Khalifa Al Daboos, Deputy CEO of Investment Corporation of Dubai.  

Shan Kadavil and other co-founders of FreshToHome have a Silicon Valley entrepreneurship background, having been part of leadership teams of companies such as Zynga.  Some of the early backers of FreshToHome include Mark Pincus – Zynga founder, David Krane – CEO of Google Ventures, Pete Briger – Chairman of Fortress, Abdul Aziz Al-Ghurair – Chairman of Mashreq Bank, Rajan Anandan of Sequoia and other renowned investors. 

"DFC’s first equity deal with FreshToHome demonstrates the power of our new equity tool to drive development and advance U.S. foreign policy," said  US Government’s DFC CEO Adam Boehler. "This project will support economic growth and strengthen agricultural supply chains in a key U.S. partner."

Support from its existing large Middle East-based investors such as CE-Ventures – the corporate venture capital platform of Crescent Enterprises significantly helped in aiding its expansion in the UAE, where it is already one of the top 5 e-grocers.

Gaurav Sharma, Head of Private Equity at Investcorp India added, "At Investcorp, we look at companies who redefine the category with proven top-line and bottom-line impact. We believe that FreshToHome fits this bill perfectly and is poised to achieve significant scale. We look forward to this partnership and supporting the company in realising its full potential."

"’FreshToHome’s unique collaborative approach with fishermen, farmers, and use of tech-based solutions on procurement give them an edge in emerging as the best reliable brand in the segment and a potential contender for the Unicorn Club," said Raja Kumar, Founder & CEO, Ascent Capital.

For details, Contact: [email protected] 

Photo – https://mma.prnasia.com/media2/1320774/freshtohome_series_c_funding.jpg?p=medium600 
Logo – https://mma.prnasia.com/media2/1320773/FreshToHome_Logo.jpg?p=medium600

 

 

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STRATACACHE Launches Full Line of LINQ Intelligent Tablets Designed and Built by Consumer Engagement Experts

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DAYTON, Ohio, Oct. 27, 2020 /PRNewswire/ — STRATACACHE today announced the launch of commercial grade LINQ all-in-one intelligent tablets, designed and built by STRATACACHE’s customer engagement engineers. The tablets are integrated across all digital signage, interactive experience, and mobile commerce/mobile shopping platforms in the STRATACACHE family including Scala, X2O Media and Real Digital Media, and range in size from 11" to 55", combining powerful performance with a slim form factor to deliver powerful interactive digital experiences.

LINQ tablets are optimized for fixed applications such as point of sale, digital catalogs, digital signage, self-service kiosks and interactive guided selling solutions, ideal for STRATACACHE’s global clientele including marketing and innovation teams.
LINQ tablets are optimized for fixed applications such as point of sale, digital catalogs, digital signage, self-service kiosks and interactive guided selling solutions, ideal for STRATACACHE’s global clientele including marketing and innovation teams.

Designed to withstand continuous commercial use in any high-volume retail, hospitality, QSR or brand environment, LINQ tablets are optimized for fixed applications such as point of sale, digital catalogs, digital signage, self-service kiosks and interactive guided selling solutions, ideal for STRATACACHE’s global clientele including marketing and innovation teams.

LINQ tablets are equipped with a front-facing camera and integrated mobile sensors, enabling consumer detection and identifying demographics, which allows marketers and innovators to create highly personalized consumer experiences tailored to the current audience. LINQ tablets also support the latest generation of artificial intelligence and guided selling/suggestive engine technology by STRATACACHE.

"Evolving our product line to include intelligent tablets is key to addressing our clients’ needs to personalize and automate digital solutions such as smart lockers, pickup automation, next gen point of sale, product discovery, wayfinding and assisted selling tools, so they can truly tailor digital engagement with consumers and employees," said Chris Riegel, CEO of STRATACACHE. "Strategically, we designed our tablets with our customers’ end goals in mind, ensuring there is flexibility in choosing hardware that fits their project, while providing a complete technology solution at a highly competitive market price."

STRATACACHE engineered LINQ tablets from the bottom up for reliability and scale, featuring a purpose-built design specifically tailored for digital engagement applications. With continuous 24/7 commercial use, the screens use DC-AC power, eliminating the need for battery power. For sizes 18.5" or smaller, POE is standard, eliminating the need for commercial AC power, providing cost savings and flexibility for installation. LINQ tablets feature:

  • Wide viewing angle
  • Enhanced brightness and color contrast
  • Enterprise security and hardening
  • Proven, scalable CMS platform for content distribution and device management
  • Optional accessories such as payment processing, barcode scanning, and NFC
  • Choice of Linux, Android and Windows Operating Systems
  • Choice of ARM or X86 based hardware platforms

Learn more at stratacache.com/linq-commercial-tablets/.

About STRATACACHE
STRATACACHE delivers in-store retail experience transformation and exceptional customer journeys through a wide array of marketing technology. Our solutions enable retailers to learn deeply about their customers’ shopping preferences and behaviors, delivering targeted promotional or task-based messaging on any digital display. With 3.3 million+ software activations globally, we power the biggest digital networks for the world’s largest brands. Across the STRATACACHE family of complementary Marketing Technology solution companies, we have the technology, expertise and track record to bring retail innovation that delivers results. Learn more about the STRATACACHE family at www.stratacache.com, on Twitter @STRATACACHE or on Facebook.

Photo – https://mma.prnasia.com/media2/1320327/stratacache_linq.jpg?p=medium600
Logo – https://mma.prnasia.com/media2/659530/STRATACACHE_Logo.jpg?p=medium600

 

Related Links :

http://www.stratacache.com

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Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
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