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

Edna Ellen Swift

first_imgEdna Ellen Swift, 99, of Aurora, Indiana, passed away Tuesday December 4, 2018 in Lawrenceburg, Indiana.She was born April 2, 1919 in Switzerland County, Indiana, daughter of the late Clarence A. Heath and Mary (Givens) Heath.Edna was a member of Ebenezer Baptist Church. Her faith was very important to her. Edna attended a weekly Bible Study and was active in the Women’s Missionary Group. In her younger years she helped with cleaning and any other needs that the church had.Edna loved to play pinochle, work cross word puzzles, and she was an avid reader. She was a Red’s fan, an IU Hoosiers fan and a UC Bearcats fan. Her most valuable possessions were her Lord, family, church family and friends.Edna is survived by her children, Wayne L. (Cheryl) Swift of Aurora, IN, Kathy A Scudder of Aurora, IN, Karen S. (Dexter) Caudill of Milan, IN; 11 grandchildren, and many great-grandchildren.She was preceded in death by her parents, loving husband, John D. Swift, son, John M. Swift; brothers, Warren, Russell and George Heath, and sisters, Mildred Hayes and Betty Miller.Friends will be received Friday, December 7, 2018, 11:00 am – 1:00 pm at the Rullman Hunger Funeral Home, 219 Mechanic Street, Aurora, Indiana.Services will be held at the Funeral Home, at 1:00 pm with Pastor Tommy Fehrman officiating.Interment will follow in the River View Cemetery, Aurora, Indiana.Contributions may be made to Shop with a Cop or the Clearing House. If unable to attend services, please call the funeral home office at (812) 926-1450 and we will notify the family of your donation with a card.Visit: www.rullmans.comlast_img read more

Franzen beats Schrader, rest of Modifieds at Maquoketa

first_imgKile Vohringer continued his hot start to 2019 with another Shawn’s Auto Service IMCA Hobby Stock 12-lap victory. MAQUOKETA, Iowa (June 1) – He watched the monkey jump off his back. We’ve finally been changing some stuff, dropping some bars we usually don’t do and it ended up working.” Jarrett Franzen actually pushed that chimp in dominating form, leading all 20 laps of the QCJeeps.com IMCA Modified feature Saturday evening at Maquoketa Speedway.  David Brandies moved by Jimmy Comins about halfway through the Gade Race Engines / REV Chassis IMCA Stock Car 15-lap feature and went on to win. Andy Nezworski started sixth but only took seven laps to move by Matt Ryan for the lead and cruised to his second straight Andover Meat IMCA Late Model win.  “Nice and smooth, nice little track. I really enjoyed it.,” said Schrader, who started 14th after winning a ‘B’ main and moved up nine slots by the end.  By Rob Hinckley  “I got lucky on the start,” Franzen said. “(Polesitter) Tyler Madigan pushed on the start and I started second row inside and it was pretty much a bottom race track.” Timmy Current started 11th and picked his way to the runner up spot, followed by Bryce Garnhart and Tyler Madigan.  The win ended a string of “almosts” in the Fryer Motorsports No. 60F.  Franzen and team celebrated on Stead Family Children’s Hospital Night and beat all the stars, including Ken Schrader, who wound up fifth. Soppe was involved in an opening lap crash, restarted on the tail and worked his way back to the point by lap 12 of the 15-lap finale. Tyler Soppe won for the fourth straight time in the B&D Pit Stop IMCA Northern SportMods, but this time in a little more dramatic fashion.  “Seems like we’ve led until lap 16 and the car burns off,” he said. “ Schrader was complimentary of his first visit to Maquoketa.  Action continues on the 3/8-mile dirt oval this Saturday June 8 highlighted by QCJeeps.com Night and the QCJeeps.com IMCA Modifieds racing for $1,000 to win a Fast Shafts All-Star Invitational ballot qualifying event.last_img read more

Year 2016: A year of big money sport deals

first_imgShare on: WhatsApp Paris, France | AFP | Money flooded into sport in 2016 faster than ever before and flooded out in the shape of fatter salaries for the stars who have become multi-million business brands.Paul Pogba’s world record transfer to Manchester United set the tone for a year of big money deals that handed the French 23-year-old wealth beyond the dreams of most of his Old Trafford fans.But even Pogba has got a long way to go to catch up with gold-plated stars like Barcelona’s Lionel Messi and his Real Madrid rival Cristiano Ronaldo, the world’s highest paid athlete according to Forbes, who banks just short of $1.7 million (1.6 million euros, £1.4 million) a week in salary and endorsements.Pogba’s five-year contract to join United may have raised eyebrows among football fans and critics but top-flight managers and sports business insiders had already priced-in mega transfer inflation.The explosion of TV rights made the Pogba contract possible, flooding the coffers of the English Premier League, making a mockery of economic austerity and the jobless queues.And the tide of high finance in sport did not stop there. TV income rose 40 percent for Germany’s Bundesliga while the US NBA enjoyed a vintage financial year and Formula One motor racing attracted a multi-billion dollar US takeover bid.Three years after Welshman Gareth Bale set a world record transfer figure of 101 million euros (around £80 million) for his move to Real Madrid, Pogba upped the ante with his 105 million-euro transfer to Manchester in August despite his failing to set sparks flying for France in Euro 2016.Former Manchester United manager Alex Ferguson told the Daily Mail that the moment the £8.3 billion ($10.75 billion, 9.6 billion euros) domestic TV deal covering 2016-2019 was signed between the Premier League and Sky Sports and BT Sport, “transfer values and salaries were going to go up.”– Star power – The result was not long in coming. Premier League clubs spent 1.38 billion euros during the 2016 summer transfer market window, 34 percent up on the previous year.The British game’s star power also spilled over into foreign markets, where broadcast rights sell to the highest bidder. The biggest deal to date was signed in November with Chinese video streaming service PPTV for 600 million euros.Elsewhere in Europe the Bundesliga cashed in hugely with a TV deal worth 3.48 billion euros over the next three years, a near 40 percent jump on the past year.If economic hardship tightened the purse strings somewhat in some other parts of Europe, the cash flowed thick and fast in basketball in the United States, where TV income tripled and the sport generated global revenue of $5.2 billion (4.8 billion euros) with operating profit of $900 million, a record, according to Forbes.At the same time, NBA clubs saw their value rise by an average 13 percent with the New York Knicks topping the financial league at $3 billion.With TV income up sharply since last year — and slightly higher than Premier League levels — NBA clubs are pushing up salaries, with LeBron James of the Cleveland Cavaliers seeing his $23 million dollar paycheck boosted to $30.9 million for the 2016/17 season.Formula One was also a big winner in the financial stakes. The sport deemed to be in severe decline still managed to attract the high rollers with US firm Liberty Media, run by billionaire John Malone, buying out F1’s parent company in a deal which values the sport at $8 billion.Formula One is gambling on gaining more exposure worldwide, including in the United States, hoping to generate an even wider revenue stream in the future. Logically, that will translate as even more money in the bank for the big stars.last_img read more