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Achmea still suffering after 2016 exit from sector scheme coverage

first_imgAchmea will keep on incurring costs in the coming years stemming from its decision in 2016 to cease its administrative services to mandatory industry-wide pension funds.The Dutch insurer’s new subsidiary Achmea Pensioenservices (APS) lost €29m last year, an increase of €13m relative to 2017.Publishing its annual results for 2018, Achmea attributed the increased loss to its strategic choice to stop providing services to industry-wide schemes. A spokesman for the company said the costs of phasing out old IT systems would continue to affect profits in the coming years.“As a consequence, APS will also make a loss this year,” he said. Syntrus Achmea’s IT upgrade couldn’t support mandatory industry-wide schemesNovember 2016: Syntrus Achmea announces that it will be forced to stop providing administration services to 22 Dutch industry-wide pension funds after an IT upgrade proved unable to support the wide range of offerings.Several pension funds voiced concerns about the capacity of the Netherlands’ pension administrators to absorb 22 pension funds in a short space of time.March 2017: IT firm Centric enters into talks with Syntrus Achmea to take on eight schemes. One month later, six schemes agreed to transfer, with Centric taking on several Syntrus Achmea staff.July 2017: Wonen, the pension scheme for the furnishing sector, selects TKP Pensioen as its replacement administrator – the last of Syntrus Achmea’s clients to find a new provider.January 2018: Achmea rebrands its administration business after admitting the Syntrus brand had been ‘dented’.A better year for Achmea groupCentraal Beheer – a ‘general pension fund’, or APF – added 548 employers last year, and also welcomed the €162m pension fund Cindu. Two more employers, Yarden and ATM, joined from the now-liquidated Delta Lloyd APF.The company said 2018 was a very successful year on the employer market. Centraal Beheer now manages €1.3bn of pension assets for 21,500 participants in total.Assets under management at Achmea Investment Management increased by €9bn to €129bn last year, as a result of  adding new clients. These included the occupational pension fund for general practitioners (SPH), which moved its €10bn fiduciary mandate from PGGM to Achmea.However, market losses since September negatively affected Achmea IM’s assets, a spokesman said.Assets under management at Syntrus Achmea Real Estate & Finance – Achmea’s specialist property investment subsidiary – grew from €19.7bn to €21.5bn through new institutional mandates and  higher valuations. It reported a strong growth of residential property investments and residential mortgages. Last year, APS replaced Syntrus Achmea Pensioendiensten (SAP), the name of which disappeared after it had completed the disposal of the industry-wide pension funds.SAP had incurred annual losses since 2008 ranging from €10m to €40m, largely due to its administrative services to the mandatory sector pension funds. In 2016 it lost €22.5m, according to Achmea, mainly due to the cost of setting up the Centraal Beheer consolidation vehicle.In August 2017, Willem van Duin, Achmea’s chairman, said he expected SAP to become profitable soon.APS focuses on providing services to Achmea’s remaining pension fund clients, which include company schemes, occupational pension funds, non-mandatory sector schemes and Centraal Beheer.Timeline: Syntrus Achmea’s IT woeslast_img read more

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Mr. Edward Francis “Eddie” Thompson

first_imgMr. Edward Francis “Eddie” Thompson, age 77, of Vevay, Indiana, entered this life on October 7, 1939 in New York, New York, the son of the late, James Michael and Florence (Grieser) Thompson. He was raised in New York and Lynhurst, New Jersey where he attended school. Eddie was united in marriage on November 10, 1957 in New York, New York to Jeannie Marie Jurgensen and to this union arrived eight children to bless their home. Eddie and Jeannie shared nearly 60 years of marriage together until his death. He was employed as a pipefitter, plumber and steamfitter for Union Local #440 in Columbus, Indiana, retiring in 2001, after 30 years of service. Eddie resided in the Switzerland County community for the past 42 years. Eddie enjoyed remodeling their house, mowing his lawn and working. Eddie will be deeply missed by his loving family. Eddie passed away at 6:28 am, Monday, August 14, 2017, at the Norton Brownsboro Hospital in Louisville, Kentucky.Eddie is survived by his loving wife of nearly 60 years: Jeannie Marie (Jurgensen) Thompson of Vevay, IN; his daughters: Elizabeth Barone and her husband: David of Lynhurst, NJ, Lori Browning and her husband: Myron of Vevay, IN, Cindy Purnell and her companion: Phil Markland of East Enterprise, IN, Kelly May and her husband: James of Vevay, IN, Tracey Thompson and her companion: Verle Lock of Vevay, IN and Michelle Ritch and her husband: Clayton of Vevay, IN; his sons: James Thompson and his wife: Jessica of Indianapolis, IN and Robert Thompson and his wife: Elka of Vevay, IN; his grandchildren: Jennifer, Melissa, Isiah, Simone, Gernot, Katrina, Ashley, Courtney, Preston, Blake, Destiny, Justin, Eddie, Luke, Michael, Haley, Chase, Cameron and Ella and his 17-great-grandchildren.He was preceded in death by his parents: James Michael and Florence (Grieser) Thompson; his grandson: Mirco Wieczorek; his brothers: James and Robert James Thompson; his sister: Eileen Garland and his sister-in-law: Diana Thompson.Friends may call 5:00 pm – 8:00 pm, Thursday, August 17, 2017, at the Haskell & Morrison Funeral Home 208 Ferry Street Vevay, Indiana 47043. Private family funeral service.Interment will follow in the Vevay Cemetery, Vevay, Indiana. Memorial contributions may be made to Keeping Pace Cancer Fund % Community Foundation of Switzerland County. Cards are available at the funeral home.last_img read more

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James Harden explains why he wore controversial ‘Blue Lives Matter’ mask

first_imgRockets star James Harden started trending on Twitter Thursday night, and it wasn’t because he entered the NBA bubble.Harden was seen wearing a mask that featured the United States flag with a blue line and a Punisher skull on top. The blue line is labeled as the “thin blue line” and is used as a sign of support for the Blue Lives Matter movement. The blue line refers to the blue color of uniforms worn by many police departments. James Harden: “It was just something that covered my whole beard. I thought it looked cool. That was it.” Harden said he’s in process of determining how he will voice his support for the Black Lives Matter while in NBA bubble, including whether he will have a message on jersey.— Tim MacMahon (@espn_macmahon) July 17, 2020James Harden on mask he wore yesterday: “I wasn’t trying to make a political statement..I wore it b/c it covered my whole face,my beard. .As I clearly talked about yesterday,me finding a way,whether it’s my jersey name or another way,to show my support for the Black Lives Matter” pic.twitter.com/2BMyH51peM— Mark Berman (@MarkBermanFox26) July 17, 2020Harden also spoke with reporters Thursday and said he was in favor of the nationwide protests that followed George Floyd’s death at the hands of Minneapolis police.The Rockets begin their season restart July 31 in a game against the Mavericks. The Punisher skull has also become a popular symbol within the same movement. Mask Up📸 @NBA pic.twitter.com/PFsIuJybYb— Houston Rockets (@HoustonRockets) July 17, 2020MORE: A list of players opting out of 2020 NBA seasonThe mask Harden was wearing is called “Blue Line Patriot” and the company that makes it says in the description, “Just when you think you’ve seen all we had to offer those who protect and serve. Remember those who have fallen with our new Thin Blue Patriot design.”Many saw Harden wearing this mask as support for the Blue Lives Matter movement at a time when police brutality has been the subject of protests around the world, and he was heavily criticized as a result.”This certified clown s—,” rapper Trey Songz tweeted about Harden. “I’ll say it for everybody who scared to. FOH.”Harden addressed the controversy in a Zoom call with reporters Friday. The Rockets star said the mask was not meant as a political statement, and that he only wore it because it’s a long mask that covers his beard.last_img read more

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Rich, Poor Alike May Now Run for Office

first_imgThe House of Representatives has taken a decision to drop registration fees for electoral offices in Liberia, thereby opening the entire contest to either the ‘rich or poor’.Said decision means that ordinary Liberians wanting to serve their country in public offices can do so without fear of spending huge sum of money for candidate’s registration in an electoral process.Plenary took the decision Tuesday, May 20, to reduce the registration fees for elected positions after the Senate attempted to amend the Electoral Law of 2006 and at the same time increased the fees for both legislative and presidential elections.Despite Representative Acarous Gray’s motion for Reconciliation filed, the House voted 26 for, four against with three abstentions in order to set the figures at US$2,500 for presidency, US$2,000 for the vice president while the Senate and House carried US$750 and US$500 respectively.In the wisdom of the House’s Committee on Elections and Inaugurations headed by Grand Bassa County Representative Gabriel B. Smith, increasing the registration fees for any given electoral process disenfranchises popular aspirants, who have merger resources to participate in the elections.Lofa County Representative Moses Kollie motion in favor of the reduction was greeted with cheers from many of his colleagues, who felt the Senate’s changes were intended to target their opponents in the ensuing Special Senatorial Election slated for October this year.The Senate’s amendment could not get the Lower House’s concurrence because of the 600 to 700 percent increase. “The committee believed that the intent of the Senate might have been good in so far as they seek to raise fund for our electoral programs, but the committee finds the proposed figures somewhat astronomical and unbearable; given the reality of our economic situation. Moreover, if this provision were to be maintained, it would place Liberia above all democratic countries in Africa in terms of candidates’ nomination fees on the continent,” Smith said.      Meanwhile, the Government of Liberia is yet to secure the US$10.3 million needed to fund the Special Senatorial Election. The Electoral body recently announced adjustment to the electoral process due to what sources closed to the Commission believed, “is the lack of resources to conduct the election in time.”The Commission failed to conduct what is considered, cardinal and critical component of the electoral period, the Issuance of the Writ of Election.Said process gives electoral magistrates across the 15 counties the authority to move into their respective area and conduct the election. However, up to press time, the process which should have been conducted on Friday, May 9 remains uncertain.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

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