Author: Web Desk

MIAMI, Oct. 8, 2021 /PRNewswire/ — Knight Capital Funding and Forward Financing are pleased to have reached a mutually agreeable financial resolution of the matter Knight Capital LLC v. Forward Financing LLC, Forward Financing SPV LLC, and Justin Bakes, pending in the Eleventh Judicial Circuit Court in and for Miami-Dade County, Florida, Case No. 2016-28657-CA-01.

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SHENZHEN, China, Oct. 8, 2021 /PRNewswire/ — At HUAWEI CONNECT 2021, Huawei unveiled four new upgrades of its CloudCampus 3.0 Solution: all-new Wi-Fi 6 APs, “Solar System” campus switches, enterprise-class “cloud on-ramp” converged gateways, and intelligent operations and maintenance (O&M) practices. Huawei also shed light on a future-proof Wi-Fi 6 Advanced technology framework oriented for wireless production networks.

These upgrades reaffirm Huawei’s continuous focus on experience-centric campus networks. With such networks, enterprises will benefit from premium fully-wireless access and optimal cloud access in a wide range of scenarios — such as intelligent workplaces, intelligent buildings, and intelligent production — all accelerating the digitalization of industries.

Enterprises around the world are increasingly recognizing the importance of digital transformation. In order to accelerate their digital transformation, more enterprises are investing heavily in cutting-edge network technologies — including IoT, wireless, cloud, and AI.

Moreover, access users and devices continue to proliferate on the campus network. According to IDC’s forecast, there will be 41 billion connected IoT devices and over 14 billion connected non-IoT devices globally by 2025. Meanwhile, cloudification is a growing trend among enterprises looking to deploy digital services. Gartner predicts that more than 85% of enterprises services will be deployed on the cloud in 2025.

“In the era where all things are getting connected intelligently, ubiquitous high-quality connections are crucial to enterprises’ business intelligence and also foundational for their digital services,” said Dr. Li Xing, President of the Campus Network Domain, Huawei’s Data Communication Product Line. “While ‘diving into digital’, each enterprise needs to build an experience-centric campus network that connects people and all things as well as office and production applications. Only then can enterprises accelerate industrial digitization.”

To accelerate digital transformation for enterprises, Huawei’s CloudCampus 3.0 Solution is equipped with new features in four aspects: wireless, wired, WAN interconnection, and intelligent O&M.

• The three unique wireless capabilities — dynamic-zoom smart antenna, AI roaming, and intelligent multimedia scheduling — empower enterprises to build a fully wireless network that delivers a continuous experience. To elaborate, dynamic-zoom smart antenna innovatively supports both omnidirectional and high-density modes, greatly improving user experience in high-density environments and increasing the speed by up to 20%. AI roaming effectively resolves the pain point of frequent service interruptions during roaming at corners. The all-new AirEngine 6761-22T is the industry’s highest-performance Wi-Fi 6E AP, reaching a speed of 6.58 Gbps. Leveraging such capabilities, enterprises can build an all-gigabit network to benefit from “zero-waiting” user access, remote interaction, and file transfer.
• Another upgrade is Huawei’s “Solar System” Solution, which is purpose-built to help enterprises build a fully-wireless network for intelligent buildings. This solution introduces an innovative optical-electric PoE mechanism that makes it possible to deploy wired networks on demand, just like wireless networks. The resulting benefits include easy access of 10GE wireless APs, integrated access of disparate IoT endpoints, and lowered network construction and deployment costs.
• Enterprises are looking for fast, secure, and reliable cloud access, and Huawei’s all-new NetEngine AR6710 gateway holds the answer. This gateway integrates security, routing, and switching functionalities, and stands out with 2 Gbps performance and 48-port gigabit switching capabilities. It is also embedded with IPS, URL filtering, firewall, virus control, application control, and other security features, offering rock-solid security for branch services. SRv6 SD-WAN is a unique capability that implements intelligent traffic steering over all paths across the entire network to achieve optimal experience. With such an all-in-one design, the NetEngine AR6710 gateway is effectively three devices in one. All of these traits make the NetEngine AR6710 gateway ideal as an egress gateway for an enterprise with over 1000 users, with lower CAPEX.
• Huawei also integrated a large number of AI capabilities into its iMaster NCE to improve campus network O&M efficiency and enhance experience throughout the entire lifecycle, from planning and construction to maintenance and optimization.

In the past few years, Wi-Fi 6 — the latest wireless access technology noted for its higher bandwidth and larger user density — has gained popularity in enterprise markets. But it still cannot fully meet the demands for ultra-low latency of less than 10 ms, ultra-high reliability of 99.999%, ultra-large bandwidth of over 2 Gbps, and strong security.

To meet these demands, Huawei went beyond Wi-Fi 6 through continuous innovation, and launched a future-proof Wi-Fi 6 Advanced technology framework, extending Wi-Fi from enterprise workplaces into production environments. This latest iteration builds on the large capacity, low latency, and wide connectivity features of Wi-Fi 6, adding three unique capabilities: network-wide gigabit, real-time intelligent control, and harmonized IoT and sensing.

Looking ahead, Huawei will continue to work with more industry ecosystem partners to develop WLAN solutions based on Wi-Fi 6 Advanced technology architecture. Doing so will help build a speedy, stable, and smart wireless production network best suited for production and digital services such as machine vision, remote operations, and robotics.

To learn more about Huawei’s CloudCampus Solution, visit https://e.huawei.com/en/solutions/business-needs/enterprise-network/campus-network

Huawei hosts HUAWEI CONNECT 2021 online from September 23 to October 31. The theme of this year’s event is Dive into Digital. We’re going to dive deep into the practical application of technologies like cloud, AI, and 5G in all industries, and how they can make organizations of all shapes and sizes more efficient, more versatile, and ultimately more resilient as we move towards economic recovery. For more information, please contact our local team or check out https://www.huawei.com/en/events/huaweiconnect

Agreement will sharpen Cigna’s focus on the growth path for its rapidly expanding global health portfolio

BLOOMFIELD, Conn., Oct. 8, 2021 /PRNewswire/ — Cigna Corporation (NYSE:CI), a global health service company, today announced a definitive agreement with Chubb (NYSE: CB) to sell its life, accident and supplemental benefits businesses in seven countries for $5.75 billion dollars. The transaction is expected to be completed in 2022, subject to applicable regulatory approvals and customary closing conditions.

“Our agreement with Chubb is another step forward in advancing our strategic focus on our global health services portfolio,” said David M. Cordani, president and chief executive officer, Cigna Corporation.  “We are proud of our success in building these life, accident and supplemental benefits businesses in Asia Pacific and improving the well-being and sense of security of our customers throughout the region.”

Upon completion of the transaction, Chubb will acquire Cigna’s life, accident and supplemental benefits businesses in Hong Kong, Indonesia, Korea, New Zealand, Taiwan and Thailand as well as Cigna’s interest in a joint venture in Turkey.  In Korea, Chubb will acquire and plans to continue to operate the business under the LINA Korea (Life Insurance Company of North America Korea) brand.

Cigna will continue to operate its robust international health businesses for the globally mobile population, as well as local market services in the Middle East, Europe, Hong Kong, Singapore and its joint ventures in Australia, China and India.

Chubb will pay Cigna a cash consideration of $5.75 billion. The transaction is not subject to a financing condition and Cigna expects to realize approximately $5.4 billion of net after-tax proceeds from this transaction. Cigna expects to utilize the proceeds from the transaction primarily for share repurchase, broadly consistent with Cigna’s capital deployment framework. The impact of the transaction is expected to be neutral to slightly dilutive to Cigna’s earnings per share in 2022.

“The addition of Cigna’s business, which is overwhelmingly A&H, will rebalance our global portfolio toward this important region,” said Evan G. Greenberg, chairman and chief executive officer, Chubb. “We have long admired and respected Cigna’s business in Asia including its talented people, innovative products, technical and analytical capabilities, distribution and management.”

Cigna and Chubb are committed to ensuring a smooth transition for customers, partners, clients and employees throughout this period.

Wachtell, Lipton, Rosen & Katz is serving as lead legal counsel, and Baker McKenzie is serving as lead regulatory counsel on the transaction.

About Cigna
Cigna Corporation (NYSE: CI) is a global health service company dedicated to improving the health, well-being and peace of mind of those we serve. Cigna delivers choice, predictability, affordability and access to quality care through integrated capabilities and connected, personalized solutions that advance whole person health. All products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Cigna Health and Life Insurance Company, Connecticut General Life Insurance Company, Evernorth companies or their affiliates, and Express Scripts companies or their affiliates. Such products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy, vision, supplemental benefits, and other related products.

Cigna maintains sales capability in over 30 countries and jurisdictions, and has over 190 million customer relationships throughout the world. To learn more about Cigna®, including links to follow us on Facebook or Twitter, visit www.cigna.com.

NOTES:

1. The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternate uses of capital. The share repurchase program may be effected through open market purchases or privately negotiated transactions in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended, including through Rule 10b5-1 trading plans. The program may be suspended or discontinued at any time.
2. Earnings per share means adjusted income from operations on a fully diluted basis. At the consolidated level, adjusted income from operations is not determined in accordance with accounting principles generally accepted in the United States (“GAAP”) and should not be viewed as a substitute for the most directly comparable GAAP measure, shareholders’ net income. Adjusted income (loss) from operations is defined as shareholders’ net income (or income before taxes for the segment metric) excluding net realized investment results, amortization of acquired intangible assets and special items. Cigna’s share of certain realized investment results of its joint ventures reported in the International Markets segment using the equity method of accounting are also excluded. Adjusted income (loss) from operations is measured on an after-tax basis for consolidated results.

CIGNA FORWARD LOOKING STATEMENTS

This press release, and oral statements made in connection with this release, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on Cigna’s current expectations and projections about future trends, events and uncertainties. These statements are not historical facts. Forward-looking statements include statements relating to the impact of the sale of Cigna’s life, accident and supplemental benefits businesses, including, without limitation, the impact of the transaction on Cigna’s projected earnings per share, Cigna’s share repurchase other capital deployment plans, the projected closing date for the transaction and the projected impact of the transaction on the parties. You may identify forward-looking statements by the use of words such as “believe,” “expect,” “plan,” “intend,” “anticipate,” “estimate,” “predict,” “potential,” “may,” “should,” “will” or other words or expressions of similar meaning, although not all forward-looking statements contain such terms.

Forward-looking statements are subject to risks and uncertainties, both known and unknown, that could cause actual results to differ materially from those expressed or implied in forward-looking statements. Such risks and uncertainties include, but are not limited to: receipt of the regulatory approvals necessary for the transaction; the satisfaction or waiver of closing conditions for the transaction; effects on the business as a result of uncertainty surrounding the proposed transaction; as well as more specific risks and uncertainties discussed in Cigna’s most recent report on Form 10-K and subsequent reports on Forms 10-Q and 8-K available on the Investor Relations section of www.cigna.com. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made, are not guarantees of future performance or results, and are subject to risks, uncertainties and assumptions that are difficult to predict or quantify. Cigna undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by law.

Cigna Contacts:
Investor Relations
Alexis Jones
Alexis.Jones@cigna.com

Media
Ellie Polack
Elinor.Polack@cigna.com

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