Latest News
Toshiba TV’s AI-Enhanced REGZA Engine ZRi Delivers an Immersive Viewing Experience
HONG KONG, April 12, 2024 /PRNewswire/ — Toshiba TV is taking a leap forward in television technology with its AI-powered REGZA Engine ZRi, delivering an engaging viewing experience for users. The integration of AI has improved user interaction with their TVs, offering customization and optimization tailored to individual preferences and environments.
At the core of Toshiba TV’s innovation is the REGZA Engine ZRi Chip, a key technological component that enables the TV to deliver stunning visuals in up to 4K resolution, enhanced by Dolby Vision IQ and HDR 10+ adaptive. This chip ensures sharp visuals and vibrant colors, elevating the content for viewers. In addition, by leveraging machine learning algorithms, the REGZA Engine ZRi Chip automatically adjusts the picture and sound settings according to the content being viewed and the viewing environment, creating an immersive experience for viewers.
Toshiba TV’s commitment to delivering exceptional audio-visual experiences through AI innovation is evident in its range of products. Its flagship model, the X9900, features an AI Picture Optimizer and AI 4K Upscaling technologies, setting new standards in picture quality through sharpness and vibrancy. Additionally, it includes Eye Comfort technology, which intelligently reduces glare, enhances clarity, and adjusts screen brightness according to the surrounding environment, ensuring a comfortable viewing experience.
For sports enthusiasts, the Z870 introduces an array of features tailored specifically for immersive sports viewing experiences. With its AI Football Mode and AI Sports Mode, viewers can expect to dive deep into the action, where every detail and movement is vividly portrayed with exceptional clarity and realism.
When it comes to sound quality, the Z670 incorporates AI Sound technology, automatically adjusting the balance between high, mid, and low-frequency sounds for a rich audio experience.
Toshiba TV continues to lead in innovation by merging advanced technology with AI, setting a new benchmark for viewing experiences. Toshiba TV wants viewers to experience the future of entertainment, where every moment unfolds as a masterpiece.
About Toshiba TV:
With a 70+ years history in TV production, Toshiba TV is known for its innovative ideas and groundbreaking inventions. By prioritizing superior image quality and auditory experiences, Toshiba TV sets new standards in entertainment. Emphasizing attention to product details and technological advancement, Toshiba TV integrates aesthetically pleasing design, quality assurance, and brand reputation to underscore its commitment to excellence, showcasing Toshiba TV’s long-standing design philosophy and continuous pursuit of product quality.
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Latest News
Brazil’s FinTech Revolution: Paving the Way for a Sustainable, Greener Future
The post Brazil’s FinTech Revolution: Paving the Way for a Sustainable, Greener Future appeared first on HIPTHER Alerts.
Latest News
Markel Group reports 2024 first quarter results
RICHMOND, Va., May 1, 2024 /PRNewswire/ — Markel Group Inc. (NYSE:MKL) today reported its financial results for the first quarter of 2024. The Company also announced today it filed its Form 10-Q for the quarter ended March 31, 2024 with the Securities and Exchange Commission. Markel Group aspires to build one of the world’s great companies and deploys three financial engines in pursuit of this goal: Insurance, Investments and Markel Ventures.
“We are pleased with the overall performance of our businesses as we start the year,” said Tom Gayner, Chief Executive Officer. “Our insurance team grew the top line year over year, and both operating income and the combined ratio improved significantly from the close of last year as we work towards our long-term profitability objectives. Net investment income increased amid higher interest rates, and our public investments were up meaningfully. Lastly, our Markel Ventures businesses had another terrific quarter, and we couldn’t be more pleased with the results of their efforts. Our promise to shareholders is to drive strong performance over the long-term, and with quarters like these, we continue to make progress towards that goal.”
The following table presents summary financial data, by engine, for the three months ended March 31, 2024 and 2023.
Three Months Ended March 31, |
|||
(dollars in thousands, except per share amounts) |
2024 |
2023 |
|
Operating revenues: |
|||
Insurance |
$ 2,185,718 |
$ 2,009,932 |
|
Investments |
1,140,331 |
528,777 |
|
Markel Ventures |
1,140,606 |
1,104,680 |
|
Total operating revenues |
$ 4,466,655 |
$ 3,643,389 |
|
Operating income: |
|||
Insurance (1) |
$ 135,825 |
$ 177,340 |
|
Investments |
1,140,331 |
528,777 |
|
Markel Ventures |
103,915 |
92,178 |
|
Consolidated segment operating income (2) |
1,380,071 |
798,295 |
|
Amortization of acquired intangible assets |
(44,285) |
(44,399) |
|
Total operating income |
$ 1,335,786 |
$ 753,896 |
|
Comprehensive income to shareholders |
$ 908,385 |
$ 646,365 |
|
Diluted net income per common share |
$ 75.43 |
$ 37.26 |
|
Combined ratio |
95.2 % |
94.0 % |
(1) |
See “Supplemental Financial Information” for the components of our Insurance engine operating income. |
(2) |
See “Non-GAAP Financial Measures” for additional information on this non-GAAP measure. |
Highlights of results from the quarter:
- Operating revenue and operating income growth of 23% and 77%, respectively, was primarily driven by our Investments engine.
- Our Investments engine benefited from the impact of more favorable market value movements within our equity portfolio in 2024 compared to 2023, as well as a 37% increase in net investment income reflecting higher interest rates in 2024 compared to 2023. Generally accepted accounting principles (GAAP) require that we include unrealized gains and losses on equity securities in net income. This may lead to short-term volatility in revenues and operating income that temporarily obscures our underlying operating performance.
- Our Markel Ventures engine grew segment operating income by 13% in 2024 as a result of revenue growth and improved operating margins across a number of our businesses.
- Growth in our Insurance engine revenues of 9% was primarily attributable to an increase in earned premiums driven by new business growth and more favorable rates on select lines of business.
- The higher combined ratio in 2024 compared to 2023 was primarily driven by a higher attritional loss ratio on our U.S. general liability and professional liability product lines.
We believe our financial performance is most meaningfully measured over longer periods of time, which tends to mitigate the effects of short-term volatility and also aligns with the long-term perspective we apply to operating our businesses and making investment decisions. The following table presents a long-term view of our performance.
Three Months |
Years Ended December 31, |
||||||||
(dollars in thousands) |
2024 |
2023 |
2022 |
2021 |
2020 |
||||
Operating income: |
|||||||||
Insurance (1) |
$ 135,825 |
$ 348,145 |
$ 928,709 |
$ 718,800 |
$ 136,985 |
||||
Investments (2) |
1,140,331 |
2,241,419 |
(1,167,548) |
2,353,124 |
989,564 |
||||
Markel Ventures |
103,915 |
519,878 |
404,281 |
330,120 |
306,650 |
||||
Consolidated segment operating income (3) |
1,380,071 |
3,109,442 |
165,442 |
3,402,044 |
1,433,199 |
||||
Amortization and impairment |
(44,285) |
(180,614) |
(258,778) |
(160,539) |
(159,315) |
||||
Total operating income (loss) |
$ 1,335,786 |
$ 2,928,828 |
$ (93,336) |
$ 3,241,505 |
$ 1,273,884 |
||||
Net investment gains (losses) (2) |
$ 902,281 |
$ 1,524,054 |
$ (1,595,733) |
$ 1,978,534 |
$ 617,979 |
||||
CAGR in closing stock price per share (4) |
|||||||||
December 31, 2019 to March 31, 2024 |
7 % |
(1) |
See “Supplemental Financial Information” for the components of our Insurance engine operating income. |
(2) |
Investments engine operating income includes net investment gains (losses), which are primarily comprised of unrealized gains and losses on equity securities. |
(3) |
See “Non-GAAP Financial Measures” for additional information on this non-GAAP measure. |
(4) |
CAGR – compound annual growth rate. |
* * * * * * * *
A copy of our Form 10-Q is available on our website at mklgroup.com or on the SEC website at www.sec.gov. Readers are urged to review the Form 10-Q for a more complete discussion of our financial performance. Our quarterly conference call, which will involve discussion of our financial results and business developments and may include forward-looking information, will be held Thursday, May 2, 2024, beginning at 9:30 a.m. (Eastern Time). Investors, analysts and the general public may listen to the call via live webcast at ir.mklgroup.com. The call may be accessed telephonically by dialing (888) 660-9916 in the U.S., or (646) 960-0452 internationally, and providing Conference ID: 4614568. A replay of the call will be available on our website approximately one hour after the conclusion of the call. Any person needing additional information can contact Markel Group’s Investor Relations Department at [email protected].
Additionally, our shareholders meeting will be held on May 22, 2024 at the University of Richmond Robins Center at 2:00 p.m. (Eastern Time). The shareholders meeting will be part of a two-day event we are calling the 2024 Reunion, which is open to shareholders, employees, and friends of Markel Group. More information on the agenda and registration for the 2024 Reunion is available at mklreunion.com.
Supplemental Financial Information
The following table presents the components of our Insurance engine operating income.
Three Months Ended March 31, |
Years Ended December 31, |
||||||||||
(dollars in thousands) |
2024 |
2023 |
2023 |
2022 |
2021 |
2020 |
|||||
Insurance operating income (loss): |
|||||||||||
Insurance segment |
$ 107,310 |
$ 96,504 |
$ 162,176 |
$ 549,871 |
$ 696,413 |
$ 169,001 |
|||||
Reinsurance segment |
12,010 |
24,234 |
(19,265) |
83,859 |
(55,129) |
(75,470) |
|||||
Other insurance operations |
16,505 |
56,602 |
205,234 |
294,979 |
77,516 |
43,454 |
|||||
Insurance |
$ 135,825 |
$ 177,340 |
$ 348,145 |
$ 928,709 |
$ 718,800 |
$ 136,985 |
Non-GAAP Financial Measures
Consolidated segment operating income is a non-GAAP financial measure as it represents the total of the segment operating income from each of our operating segments and excludes items included in operating income. Consolidated segment operating income excludes amortization of acquired intangible assets and goodwill impairments arising from purchase accounting as they do not represent costs of operating the underlying businesses. The following table reconciles operating income to consolidated segment operating income.
Three Months Ended March 31, |
Years Ended December 31, |
||||||||||
(dollars in thousands) |
2024 |
2023 |
2023 |
2022 |
2021 |
2020 |
|||||
Operating income (loss) |
$ 1,335,786 |
$ 753,896 |
$ 2,928,828 |
$ (93,336) |
$ 3,241,505 |
$ 1,273,884 |
|||||
Amortization of acquired intangible assets |
44,285 |
44,399 |
180,614 |
178,778 |
160,539 |
159,315 |
|||||
Impairment of goodwill |
— |
— |
— |
80,000 |
— |
— |
|||||
Consolidated segment operating income |
$ 1,380,071 |
$ 798,295 |
$ 3,109,442 |
$ 165,442 |
$ 3,402,044 |
$ 1,433,199 |
About Markel Group
Markel Group Inc. is a diverse family of companies that includes everything from insurance to bakery equipment, building supplies, houseplants, and more. The leadership teams of these businesses operate with a high degree of independence, while at the same time living the values that we call the Markel Style. Our specialty insurance business sits at the core of our company. Through decades of sound underwriting, the insurance team has provided the capital base from which we built a system of businesses and investments that collectively increase Markel Group’s durability and adaptability. It’s a system that provides diverse income streams, access to a wide range of investment opportunities, and the ability to efficiently move capital to the best ideas across the company. Most importantly though, this system enables each of our businesses to advance our shared goal of helping our customers, associates, and shareholders win over the long term. Visit mklgroup.com to learn more.
Cautionary Statement
Certain of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Statements that are not historical facts, including statements about our beliefs, plans or expectations, are forward-looking statements. These statements are based on our current plans, estimates and expectations. There are risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by such statements. Factors that may cause actual results to differ are often presented with the forward-looking statements themselves. Additional factors that could cause actual results to differ from those predicted are set forth in our Annual Report on Form 10-K for the year ended December 31, 2023, including under “Business Overview,” “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” “Safe Harbor and Cautionary Statement,” and “Quantitative and Qualitative Disclosures About Market Risk,” and in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, including under “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” “Safe Harbor and Cautionary Statement,” and “Quantitative and Qualitative Disclosures About Market Risk”. We assume no obligation to update this release (including any forward-looking statements) as a result of new information, developments, or otherwise. This release speaks only as of the date issued.
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Latest News
Ageras Secures €82M Funding to Drive Fintech Acquisitions
Ageras, a Danish-founded fintech company, has announced a successful fundraising round, raising €82 million in an oversubscribed private placement. This funding round brings the company’s total funding to nearly €200 million, signaling a significant milestone in its growth journey.
Established in 2012 by serial entrepreneurs Rico Andersen and Martin Hegelund, Ageras initially began as an online marketplace connecting small businesses with accountants and bookkeepers. Over time, it has evolved into a comprehensive fintech enterprise with approximately 250 employees and a robust cloud-based software product.
Ageras serves over 300,000 SMEs across Europe with its cloud-based accounting software. By integrating its solutions into a unified platform for invoicing, accounting, payroll, banking, and finance, Ageras empowers business owners to streamline their operations and focus on core activities.
The newly raised capital will enable Ageras to pursue new acquisitions. CEO Rico Andersen emphasizes the company’s commitment to simplifying small business operations amidst a challenging regulatory landscape. Andersen highlights the importance of mergers and acquisitions (M&A) in accelerating the realization of this vision, enabling Ageras to enhance its product offerings and expand its market presence.
Ageras achieved positive EBITDA for the first time in 2023, closing the fiscal year with a record-high Annual Recurring Revenue (ARR) of €41 million, compared to €27 million in 2022.
Investcorp led the funding round, with investments from Folketrygdfondet and Lazard. Gilbert Kamieniecky, Head of Private Equity Europe at Investcorp, expresses confidence in Ageras’ growth trajectory and strategic development since their initial investment in 2017. Kamieniecky underscores the significance of this funding round in enabling Ageras to pursue accretive M&A activities, expand its product portfolio, and capture a larger market share in the fintech industry.
Source: tech.eu
The post Ageras Secures €82M Funding to Drive Fintech Acquisitions appeared first on HIPTHER Alerts.
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