AXA Germany sells Pensionskasse to rival insurer

first_imgGerman insurer Frankfurter Leben-Gruppe (Frankfurt Leben) has bought the €3bn multi-employer Pro bAV Pensionskasse from AXA Germany.No purchasing price was disclosed but both companies emphasised in press releases that the 260,000 contracts would be transferred without changes to guarantees or benefits.“Changes in the market and the regulatory framework have considerably slowed down new business and also led to shrinking membership numbers in the Pro bAV Pensionskassen,” AXA said in a statement.The company said it wanted to focus on other offerings in the occupational pension sector, such as direct insurance contracts and reinsurance. AXA also said the sale would help the Pro bAV Pensionskasse avoid having to raise costs for members.“Given its fundamentally different business model the Frankfurt Leben group can achieve a lower cost level for its clients,” AXA said.In Germany, Pensionskassen are insurance-based vehicles that are subject to similar regulations and maximum guarantee rates as insurers. The regulatory regime of Solvency II does not apply to them, however.In a statement, Frankfurt Leben confirmed it would offer “considerably reduced costs” and keep this level “over the long term”.The deal is subject to approval by BaFin, Germany’s financial regulator.The insurer was founded in 2015 to take over life insurance assets of German insurer Basler Versicherungen.Last year Frankfurt Leben bought another life insurance company, ARAG München, raising its assets to just over €5bn.So-called ‘run-off’ sales have led to an often heated political debate in Germany. Such deals involve insurers selling off life insurance contracts that have become more expensive and less attractive to handle in the low interest rate environment.The conservative CDU party had considered a legal provision obligating insurers to get clients’ consent before selling life insurance contracts.All debates have been put on hold during ongoing coalition talks as chancellor Angela Merkel attempts to form a new government.last_img read more

Steve Nash plans on playing against Jazz

first_imgESPN also pulled the Lakers’ loss Jan. 8 in Houston, while TNT dropped the Lakers’ loss Jan. 20 in Chicago, decisions that both stem from Kobe Bryant staying sidelined with a fractured left knee and the Lakers remaining in the Western Conference cellar.The Lakers originally had 25 national television appearances scheduled, including five on ABC, 10 on ESPN and 10 on TNT. Should Bryant return after the All-Star break or the Lakers begin an unexpected run, Lakers games could emerge back on the national telecasts. A team can make a maximum of 10 appearances on ESPN and TNT per season, opening the possibility for ESPN, TNT and the NBA to decide later to add a game that wasn’t originally planned.Injury updateD’Antoni said all the Lakers’ injured players, including Bryant (left knee), Pau Gasol (strained right groin), Nick Young (left knee), Jodie Meeks (sprained right ankle) Jordan Farmar (left hamstring) and Xavier Henry (bone bruise in right knee) could return as early as after All-Star weekend. Gasol received clearance Monday to work out on the elliptical. Henry performed individual shooting and medicine ball drills. Farmar also took part in shooting drills. “There’s no reason to sit out if it feels better tomorrow and I feel pretty good,” Nash said. “But if it is an issue, then I’m definitely not going to jeopardize any prolonged absences again.”Nash has played only nine games this season, leaving it possible that the Lakers could benefit financially from his absence. If an NBA-appointed official determines Nash couldn’t play another game, the Lakers wouldn’t have the final year of Nash’s contract worth $9.7 million counted against their cap. The team could also waive Nash through the stretch provision after this season, ensuring only $3.2 million counts against the salary cap annuallyfor the next three years. “It’s too early for him,” Lakers coach Mike D’Antoni said about Nash’s possible retirement. “He’ll have to decide that. He’ll feel it in his heart and his head. I’m sure he’s getting good advice. Right now w’ere trying to get to the next game and play well.”Change the channelIn what will mark the Lakers’ third dropped national telecast this season, the NBA announced that ESPN will no longer broadcast the Lakers-Brooklyn Nets game on Feb. 23 at Staples Center. Unless his body tells him otherwise, Steve Nash has no plans but to play when the Lakers (18-33) play tonight against the Utah Jazz (17-33) at Staples Center. He also has no plans to retire, either.“I work as hard as I can everyday to perform and keep going until I’m not playing anymore,” Nash said. “But right now, I have no intentions to stop playing.”Nash left midway through the third quarter of the Lakers’ 92-86 loss Sunday to the Chicago Bulls at Staples Center after feeling nerve irritation in his fractured left leg after colliding with Bulls guard Kirk Hinrich. That’s notable because Nash fractured his left leg last season, which soon created nerve damage that hurt his leg, back and hamstrings. He had also just appeared in three games since rehabbing the persistent nerve damage in his back for the past three months.Nash described his back as “still irritated” and believed he will have to deal with nerve damage “for the rest of my life.” But he felt fine enough to participate in portions of Monday’s practice that involved team strategy and shooting drills. He also downplayed the potential benefit of sitting out the Lakers’ next two games against Utah (tonight) and Oklahoma City (Thursday), which would allow him a full week of recovery over NBA All-Star weekend.center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more

Woods says meeting Mandela “inspiring time”

first_imgTiger Woods makes his approach shot on the 18th hole during the first round of the Northwestern Mutual World Challenge golf tournament at Sherwood Country Club, Thursday, Dec. 5, 2013, in Thousand Oaks, Calif. (AP Photo/Mark J. Terrill)THOUSAND OAKS, Calif. (AP) — Tiger Woods said the death of Nelson Mandela was “a sad day for many people,” especially those who had the chance to meet him.That moment was 15 years ago for Woods when he was in South Africa for the Million Dollar Challenge.“It’s sad for everyone who got a chance to not only meet him, but I’ve been influenced by him,” Woods said Thursday after the first round of his World Challenge. “I got a chance to meet him with my father back in ’98. He invited us to his home, and it was one of the inspiring times I’ve ever had in my life.”Woods did not go into details of stories about Mandela that he has told many times over the years.At the British Open this summer, when Mandela’s health was failing, he told of walking into a living room in Mandela’s home and feeling a presence he couldn’t describe.“It still gives me chills to this day, thinking about it,” Woods said in July at Muirfield. “A gentleman asked us to go into this side room over here and, ‘President Mandela will join you in a little bit. And we walked in the room, and my dad and I were just kind of looking around. And I said, ‘Dad, do you feel that? And he says, ‘Yeah, it feels different in this room.“And it was just like a different energy in the room,” Woods said. “We just looked at each other and just shrugged our shoulders and whatever. And maybe, I’m guessing probably 30 seconds later, I heard some movement behind me and it was President Mandela folding up the paper. And it was pretty amazing. The energy that he has, that he exudes, is unlike any person I’ve ever met. And it was an honor to meet him at his home. And that’s an experience that I will never, ever forget.”Woods later paid his respects on Twitter.“Pop & I felt your aura went we met, I feel it today & I will feel it forever. You have done so much for humanity…” said one tweet from Woods. It was followed by, “You will always be in my heart Mr. Mandela.”Woods, the first player of Black heritage to win the Masters in 1997 with a record-breaking performance, was in the middle of overhauling his swing in the fall of 1998. The week after Thanksgiving, he played the Casio World Open in Japan and then made his first trip to South Africa.“I had read all the information about him,” Woods told The Associated Press in a 2003 interview. “If you’re a minority, you’ve read up on what he did. To go through what he did for 27 years and come out and be as humble as he was, and then run the country … how tough a person do you have to be to do that?”Woods returned to South Africa five years later for the Presidents Cup, a time when there was uncertainly whether Americans would travel such a long distance in November for the event. Woods never gave it a second thought, telling the AP he surely would have gotten a phone call from Mandela.“How can you not want to do anything for that man?” he said.Mandela met with Woods, Ernie Els and the rest of the players that week at the Presidents Cup, and he attended the opening ceremony.Woods was informed of Mandela’s death after finishing his round at Sherwood Country Club, and before he spoke to reporters.“He certainly had an impact on my life and certainly my father’s,” Woods said. “When he came out (of prison), the country could have fallen apart. It could have gone a lot of different ways, and he led it to where it’s at now. And the world is going to miss him.”For Mandela to spend 27 years in prison and emerge without hatred is what Woods found difficult to fathom.“I don’t think any of us probably here could have survived that and come out as humble and as dignified as he did,” Woods said. “And to lead an entire nation and to basically love the world when he came out, I think that’s a testament to his will and his spirit and who he was.”last_img read more

Wildcats roll out red carpet for Female Midget AAA Hockey tournament

first_imgBy The Nelson Daily SportsThe Kootenay Wildcats play host to the first Super Weekend of the B.C. Female Midget AAA Hockey season beginning today at the Nelson and District Community Complex and Civic Centre Arenas.Wildcats open the five-team round robin tournament at 5:30 p.m. in the Civic Centre Arena against Vancouver Fusion.The teams split a two-game series last week in Nelson. The Cats, thanks to a strong third period, edged Vancouver 5-4 in the opener. The Fusion came back in game two to win 5-1.The tournament begins today at 10:45 a.m. in the Civic Centre Arena with Prince George Cougars meeting the Okanagan Rockets.Kootenay plays Okanagan Rockets at 8 a.m. Saturday in the NDCC Arena before battling Prince George Cougars at 2 p.m. in the Civic Centre Arena.Kootenay concludes the tournament Sunday with a game at 10:45 p.m. against Fraser Valley Phantom.
Ice cooled by CougarsThe Prince George Cougars pulled off a road sweep against the Kootenay Ice in B.C. Hockey Major Midget League action in Castlegar.The Cougars scored three first period goals en route to a 5-2 victory during game one. Derek Georgopoulos of Cranbrook and Joren Johnson of Nelson scored for the Ice.In game two the Ice once again exploded in the first period, this time scoring four times to dump Kootenay 6-1. Luke Bertolucci of Trail scored the lone goal in the second period for Kootenay.Kootenay takes to the road to meet the South Island Thunderbirds Saturday in Victoria. South Island is 3-3-4 on the season, good enough for fifth in the 11-team league. The 2-5-1 Ice are [email protected]last_img read more

Forever Young Long Dark Brown Honey Blonde, Great colour but too shiney on top to pass for real hair

first_imgThis is wonderful don’t brush it however as it will spoil the hair as i observed out will be buying a different one shortly nevertheless. Fantastic quality item and extremely good worth for cash.Terrific colour but way too shiney on major to pass for authentic hair. Attractive long wig, fantastic colour but significantly to too shiney on crown to glance like actual hair. Good for extravagant costume nevertheless. Also i did not obtain my ‘free cap’ as marketed in the offer :(.Key specs for Forever Young Long Dark Brown Honey Blonde with Free Cap Number 27CTL4 Ladies Fringeless Fashion Wig:Stunning extra long hair in fringeless style with a feathered cutLuscious layered hairs styled so that the sides sweep into the face with a feathered cutThis top quality wig is made of best Kanekalon synthetic hair so silky and smooth it feels and moves like real human hairPerfect collection for everyday easy wear or for special occasionsA Free Wig Cap is included in this saleComments from buyers“all theee wigs are qualitt, Wig itself looks nice pity I dont know how to adjust, not worth the money and you won’t get a free cap, and good hairline and parting, I love this wig nice and comfortable the only problem I , Great value for money”Acquired my mate to layer it and it appeared astounding. The blonde tips seemed superb.And good hairline and parting. This is a high-quality wig, lovely texture, and fantastic hairline and parting, the colour is incredibly wonderful too, with different tones in the blonde, pure hunting and a good cost.Not value the money and you will not likely get a free cap. I did not receive the free cap and have no way of getting in touch with you about it, for that price i would of envisioned greater as i can feel to get the parting in area and it retains obtaining caught up, messy and tangled. Wonderful colour but will not likely get once more.Best for my ronda rousey haloween outfit. Obtained this for a extravagant costume social gathering and was really satisfied with the appear.Wig itself appears to be pleasant pity i dont know how to alter. Item arrived swiftly even so did not involve free wig cap as advertised an no recommendations on how to change. As a new wig consumer guidance are a need to. Wig alone looks awesome pity i dont know how to change it.This wig is quite extremely long but i experienced it minimize into a style was a little bit much too quickly tangled up being g so long. Pretty and which good colour excellent healthy high-quality for a excellent cost. I have now long gone on to obtain extra from this seller rapidly following working day shipping. Longer ones i advised a mannequin head to maintain the clearly show. All nicely packaged with entire guidance. Each and every adjustable for your head. The types with a pretty sharp parting are likely appear more like a wig so i go door significantly less parted glimpse. A fraction of selling price i paid out for my nhs wig and that is heading bald. Advocate wigs from this vendor fantastic solution fantastic value rapid shipping and delivery and terrific consumer products and services.I love this wig awesome and cozy the only trouble i. I adore this wig good and snug the only trouble i have with it is that does tangle rapidly but about all pleased with it.last_img read more

Ohio Pork Council names Emily Bir director of communications

first_imgShare Facebook Twitter Google + LinkedIn Pinterest The Ohio Pork Council announced Emily Bir as the director of communications, effective immediately. Bir will serve as the media relations contact and manage all internal and external communications efforts on behalf of the Ohio Pork Council.“We are pleased to have Emily join the Ohio Pork Council as the communications director and are confident her professional abilities will benefit the Council, and its members,” said Bill Knapke, Ohio Pork Council president. “We look forward to what Emily’s knowledge and experience will bring to the Ohio Pork Council and working with her in this position.”Prior to joining the Ohio Pork Council, Bir served in numerous communications roles in Ohio, Michigan and New Hampshire. Most recently, she worked for Strategic Public Partners, a Columbus-based public relations firm, where she managed media relations and grassroots engagement for clients in Ohio, and across the country.Bir began her career in Michigan where she led communications efforts for several political campaigns and offices, including the Michigan Senate Majority Leader’s office.Bir is a graduate of Michigan State University with a Bachelor’s degree in Communications.last_img read more

Video: Joel Stave Misses On Crucial 4th Down Throw, Iowa Wins Heartland Trophy

first_imgWisconsin flag bearer runs across the field.LINCOLN, NE – OCTOBER 07: A cheerleader for the Wisconsin Badgers celebrates a score against the Nebraska Cornhuskers at Memorial Stadium on October 7, 2017 in Lincoln, Nebraska. (Photo by Steven Branscombe/Getty Images)Wisconsin entered the season as Big Ten West favorites, but after this afternoon’s game, things in that division have been thrown for a loop. The Iowa Hawkeyes pulled off an upset of the No. 19 Badgers in Madison, winning the Heartland Trophy for the first time since 2009. Wisconsin had a chance to take the lead, but Joel Stave fired incomplete on a 4th & 2, looking for tight end Troy Fumagalli on the play.Not the best throw here— Dan Lyons (@Dan_Lyons76) October 3, 2015He looked for a pass interference call, and there was some contact, but the refs held their flags, and Iowa was able to take a knee and win the game.The Heartland Trophy comes BACK to Iowa City! #IOWAvsWIS I’m done bragging now.— Y2Jason Strasburg (@Strasconsin) October 3, 2015Iowa is 5-0 with the win, and a favorable schedule ahead. This year could be a big one for Kirk Ferentz and his Hawkeyes.last_img read more

MSC to Buy Hanjins Share in Long Beach Terminal

first_imgzoom Swiss-based container shipping major Mediterranean Shipping Company (MSC) has signed an agreement to buy Hanjin Shipping’s stake in a container terminal at California’s Port of Long Beach, according to Yonhap News Agency.Namely, the Seoul Central District Court has reportedly given its nod to the contract with MSC, under which Hanjin will sell its 54 percent stake in terminal operator Total Terminals International (TTI).Although the financial terms of the deal were not revealed, the stake in TTI was earlier estimated to be worth more than KRW 400 billion (USD 344.5 million).The remaining 46 percent stake in the terminal operator is already held by MSC.Yonhap said that the contract still needs to receive approvals from a US court, as well as the US port authority.A spokesperson from MSC said that Hanjin, Terminal Investment Limited (TIL) and Hyundai Merchant Marine (HMM) “are progressing approvals for completion of a Purchase and Sale Agreement related to the Hanjin interests in TTI.”The spokesperson added that the parties “expect that all approvals will be achieved by early January 2017.”At the beginning of December, MSC and South Korea’s carrier HMM jointly submitted a bid to acquire the stake the Long Beach container terminal.The latest sale comes a month after the bankrupt South Korean container carrier Hanjin Shipping sold its Asia-US route network to South Korean shipping company Korea Line Corp., part of SM Group, for KRW 37 billion.Scheduled to be finalized on January 5, 2017, the deal includes Hanjin’s business network and client information related to the route and subsidiaries and logistics management systems in seven countries.World Maritime News Stafflast_img read more

Canada does not treat us right says Trump as he threatens new

first_imgWASHINGTON – President Donald Trump is complaining about Canadian trade practices while threatening some as-yet-undefined international tax that has revived fears he might be contemplating new American import penalties.The U.S. president made the remarks at the White House on Monday while unveiling a long-awaited infrastructure plan. During a lengthy session with reporters, he complained about countries considered allies of the U.S.He mentioned one directly to America’s north.”Canada does not treat us right in terms of the farming and the crossing the borders,” Trump said.”We cannot continue to be taken advantage of by other countries.”It’s unclear what he was referring to. In the past, he has complained about Canada’s dairy controls and softwood lumber. Administration officials have also expressed anger over Canada’s wide-ranging attack at the World Trade Organization on the U.S. system for imposing duties.Meanwhile, the White House downplayed the tax threat Monday and various U.S. media outlets said there was nothing imminent.Trump did promise more clarity on a new tax. More details could be coming this week, he suggested.”We are going to charge countries outside of our country — countries that take advantage of the United States,” Trump said. ”Some of them are so-called allies but they are not allies on trade. … So we’re going to be doing very much a reciprocal tax and you’ll be hearing about that during the week and the coming months.”It’s unclear what type of tax he’s referring to. Earlier this year, the administration dropped the idea of a border-adjustment tax in its since-passed fiscal reform, because of widespread opposition on Capitol Hill.The confusion was compounded by several factors:—In the U.S., Congress sets tax rates — not the president. And the Congress, which just completed a major tax reform, has shown little inclination to hike taxes.—Tariff rates, meanwhile, are negotiated at the WTO.—The idea wasn’t even mentioned in the White House’s 2018 budget proposal — which was released Monday.The most specific clue Trump offered involved motorycles.He complained that the U.S. brings in products tariff-free and other countries sometimes charge more than 50 per cent tariffs on the same product: ”Harley-Davidson. They’re treated very unfairly in various countries. You know the countries I’m talking about,” Trump said. ”So we’re going to be doing very much a reciprocal tax.”Those motorcycle tariffs are highest in Asia — they don’t exist in North America.Several trade experts contacted Monday confessed to some confusion about what the president was threatening. Dan Ikenson of the Cato Institute said the only action he could think of might violate international trade law.It involves a rarely used retaliatory measure from a 1974 U.S. trade law.”Could be anything, but nothing he could do, while remaining true to the trade rules,” Ikenson said.”Presumably, he could invoke Section 301 (of the 1974 U.S. Trade Act) and threaten to impose taxes to mitigate, countervail, reverse foreign practices that he finds unfair. (That) could pass muster with U.S. law, but not WTO rules.”last_img read more

Atlantic Canada trade mission hopes to bolster regions trade links to China

first_imgHALIFAX – A federal-provincial trade mission is heading to China this week with hopes of bolstering Atlantic Canada’s presence in one of the world’s largest consumer markets.Federal Agriculture Minister Lawrence McAulay, Treasury Board president Scott Brison, and the premiers of Nova Scotia, Prince Edward Island and Newfoundland and Labrador, will join more than 70 businesses, universities, and organizations participating in trade shows and business-to-business meetings.The aim is to promote Atlantic Canada’s food, education, clean growth, and tourism sectors.In an interview Monday, Brison said the co-operative effort is part of the Atlantic Growth Strategy launched by Ottawa and the four provinces in 2016.“A regional approach, where the federal government helps support the work of our businesses in Atlantic Canada and the work of our provincial governments, can make a real difference and take the level of trade and opportunity over time to a new level,” said Brison, a Nova Scotia MP.He said the goal is to build on the trust and relationships that have been established in the Chinese market.“That requires face-to-face interactions and meetings, and you can’t just go there once, you have to go there repeatedly over a sustained period.”Nova Scotia Premier Stephen McNeil will be travelling to China for the second time this year — it will be his sixth trip overall.According to the federal government, exports to China from Atlantic Canada grew 37 per cent last year to more than $1.5 billion, with seafood exports having doubled in the past five years alone.Chinese tourism is also on the rise, while Atlantic Canadian universities currently get more than 30 per cent of their international students from the economic powerhouse.Brison said about 30 million Chinese enter the middle class every year, and that country’s consumer culture has developed tastes for such items as high-quality food and wine.He said they are trends that represent a great opportunity for Atlantic Canada, which is producing world renowned seafood, particularly lobster.“We have opportunities that simply didn’t exist 10 years ago in terms of the China relationship,” he said.In Nova Scotia’s case, China is the province’s second largest trading partner after the U.S., with exports having grown from $150 million in 2012 to $494 million in 2016.McNeil said opening China to products such as lobster has been key to keeping prices at higher market levels.“That has allowed the extra money received for that price to be spun around in every rural community across the province,” he said. “It’s one of the best rural economic strategies that we have.”Another key is convincing even more Chinese students to study in the region, the premier said.“They currently are the largest number of international students who come here. We believe that number can grow substantially to continue to help sustain our post-secondary institutions.”The trade delegation is to visit the cities of Qingdao, Shanghai, and Beijing, where it will take part in the China Fisheries and Seafood Expo, the China International Import Expo, and the Canada China Business Council Annual General Meeting and Business Forum.last_img read more