Veritas makes 7.4% investment return, but contributions fall

first_imgNiina Bergring, CIO, said: “We are very pleased with the result, considering the market situation.”Fixed income performance had lowered the overall result, she said, with the asset class ending with a return of just 1.5%.Property investments, which the company said were traditionally strong within its portfolio, returned 5.9%.Total contributions fell by 1.2% to €452.8m from €458.2m, while pensions and other benefits paid out rose 7.3% to €432m.Veritas blamed the fall in contributions partly on payroll developments, with pension client numbers declining, and partly on the fact more corporate clients had failed this year to make their scheduled contributions.Managing director Jan-Erik Stenman said he was not surprised by the slide in contributions.“We are now seeing the aftermath of the general economic situation,” he said.“In the course of 2013, the impact of globalisation hit our customers – small and medium-sized enterprises – which had hitherto perhaps fared better than large companies in the current economic situation.”Over the year, Veritas lost 1.8% of employees as clients, or 53,339 workers.Total investment assets rose to €2.4bn, up €170m from a year earlier.Solvency capital increased during the year to end at 27.8% of technical provisions from 24.1% a year before, Veritas said, adding that this meant solvency capital was 2.1 times the solvency limit. Finland’s Veritas produced a 7.4% return on investments in 2013, but saw contributions fall by 1.2% as globalisation effects hit small and medium-sized enterprises (SMEs) in the country.Reporting preliminary results for last year, Veritas said it was the positive trend in equity markets that boosted investment returns, particularly at the end of the year.The 2013 investment return was helped by listed equities, which generated the pension insurer’s highest returns at 18.3%.However, the overall return was down from last year, when investments ended the year with a profit of 11.3%.last_img read more

Kane jets to Caribbean for warm weather rehab in bid to be fit for Euros

first_imgHARRY KANE is hoping a trip to the Caribbean will speed up his recovery from hamstring surgery and have him perfectly poised for the Euros, according to reports.The Daily Mail say the Spurs striker has flown out to the tropics to complete a warm weather training programme.2 Kane has flown out to the Caribbean to speed up his recoveryCredit: ReutersEngland frontman Kane had an operation last month to repair the damage he suffered in Spurs’ 1-0 defeat at Southampton on New Year’s Day.SPURS NEWS LIVE: Follow all the latest news on TottenhamOne top doctor has warned Kane is likely to miss the Euros because his recovery will take longer than expected.But the man himself looked to be making great strides in a workout video he posted to his 2.3 million Twitter followers last week.He said he was making “good progress”.And this journey to warmer climes is all part of his planned rehab carefully put together by Tottenham medics.Clubs regularly plan warm weather training camps.The heat loosens tight muscles and increased vitamin D levels are reportedly beneficial to those in rehab.Kane is expected to start running outdoors next month and could make the final few games of his club’s season.2tottenham newsHARRY ALL FOUR ITKane admits Spurs must win EIGHT games to rise into Champions League spotGossipALL GONE PETE TONGVertonghen wanted by host of Italian clubs as long Spurs spell nears endBELOW PARRSpurs suffer blow with Parrott to miss Prem restart after appendix operationPicturedSHIRT STORMNew Spurs 2020/21 home top leaked but angry fans slam silver design as ‘awful”STEP BY STEP’Jose fears for players’ welfare during restart as stars begin ‘pre-season’KAN’T HAVE THATVictor Osimhen keen on Spurs move but only if they sell Kane this summerA run out there should stand him in good stead to lead his country at what is basically a home Euros.Spurs boss Jose Mourinho did look to try to land Olivier Giroud in the recent window as a replacement for Kane.But winger Steven Bergwijn and midfielder Gedson Fernandes were the only new arrivals.Harry Kane works out to stretch his leg in Tottenham training gymlast_img read more

Nicaragua patrols its new Caribbean maritime territory

first_imgNo related posts. MANAGUA – Nicaraguan Army Gen. Julio César Avilés said Tuesday that Nicaraguan Coast Guard ships are now patrolling the maritime area recently turned over to the country following a ruling by the International Court of Justice.“We are at the [maritime border] limits that the world court has assigned us. We sailed east of longitude 82 and the cays of Quitasueño, Serrana and the southern part of San Andrés, and there is no presence of Colombian Navy ships,” he added.The military official said he was confident that Nicaragua and Colombia – which rejects the court ruling – “will soon make the necessary arrangements to keep peace and security in the Caribbean.”On radio and television Monday night, Nicaraguan President Daniel Ortega announced his country would “exercise sovereignty” over the maritime territory. But he added that fishermen from San Andrés, Honduras, Costa Rica and Jamaica could “fish where the usually have, … but now, Nicaragua must grant permission.”On Nov. 19, the world court issued a binding ruling in a dispute between Bogotá and Managua that stated all islands, islets and cays in the disputed area belong to Colombia, while some 90,000 km2 of maritime territory in the Caribbean was placed under Nicaraguan control.Colombia rejected the decision and on Monday formed a committee of experts to consider legal action, including a possible withdrawal from the Bogotá Pact of 1948, by which that country accepted the world court’s jurisdiction. Facebook Commentslast_img read more