​Ilmarinen predicts big 2020 year-on-year fall in contributions

first_imgJouko Pölönen, Ilmarinen’s chief executive officer, said: “In the second quarter, Ilmarinen’s investment portfolio yielded 5.9% and solvency strengthened to 124% as the equity markets recovered rapidly from the dramatic stock price plummet caused by the corona pandemic earlier in the year.”Equity investments ended the six-month period with a -4.2% return and fixed income investments finished with a -2.9% return, he said, while alternative assets turned out to be the best performers generating a positive result of 10.6%, and real estate returned 1.8%.The total result for the pension fund – which is the largest of the four mutual pension insurance companies in Finland’s earnings-related pension scheme – was -€1.1bn, compared with the €931m profit registered at last year’s halfway point.Total assets fell to €48.8bn at the end of June from €50.5bn the end of last year.Pölönen said “strong development” in cost-effectiveness had continued in the first half and operating expenses financed using loading income declined by €7m from the corresponding period last year.Commenting on the pandemic, Pölönen said Finland had been successful in limiting human suffering during the first wave of the pandemic, but acknowledged that the virus continued to spread globally, with a “worrying growth trend” in infection figures in some European countries.“A key factor in terms of future development is how well a resurgence of the virus can be prevented without extensive lockdown measures, which would exacerbate the economic crisis and unemployment,” said Pölönen.Looking for IPE’s latest magazine? Read the digital edition here. Ilmarinen reported a 2% loss on its investment portfolio in the first half of this year, and the Finnish pensions insurance company warned full-year contribution inflows would be much lower than last year because of effects of the COVID-19 pandemic.Releasing its January-to-June financial report, Ilmarinen said premiums written fell to €2.7bn from €2.9bn in the same period last year, as a result of an increase in temporary layoffs and a temporary discount to the statutory TyEL contributions from employers.Commenting on the outlook for the full year, the pension provider said: “Owing to growing unemployment and the temporary discount on employers’ TyEL contributions, premiums written will fall considerably year-on-year.”Investment returns ended the first half in the red for the Helsinki-based institution, despite having rebounded between April and June.last_img read more

Friday Night Lights: The D.O.’s high school football coverage

first_img Published on August 13, 2018 at 6:20 pm Few things excite a town like high school football, especially when it’s played under the lights on a crisp autumn Friday night. That’s why The Daily Orange Sports staff is launching new coverage this fall: “Friday Night Lights,” our high school football beat.There will be features, game coverage and previews — it’s our leap into covering what’s got the Syracuse-area buzzing every weekend.While The D.O. has always been committed to coverage of Syracuse University and SU Athletics, we recognize that community coverage is also a priority. “Friday Night Lights” is a great way to engage audiences off University Hill and expand our presence across the city.The high school coverage will be led by assistant sports editor Billy Heyen, and serves as another way to get young staff writers involved at The D.O.Local readers may already have a go-to spot for high school coverage, sure. But our reporting will be different. We’ll feature stories that aren’t told anywhere else, and cover games with a holistic approach, including a new focus on video content.AdvertisementThis is placeholder textD.O. Sports is excited about the new opportunity, and can’t wait to see you at local high schools, under the lights, this fall.Billy Heyen is an assistant sports editor at The D.O. He is your go-to source for high school football coverage and can be reached at wmheyen@syr.edu or @Wheyen3 on Twitter. Commentscenter_img Facebook Twitter Google+last_img read more

LeBron James, Lakers ring in 2020 after strong start to season

first_imgEL SEGUNDO — To welcome in the next decade, the Lakers shed their purple and gold for a night, opting for black-tie suits instead.They were all over each other’s social media feeds, dancing and smoking cigars on Monday night as LeBron James celebrated his 35th birthday.Because the Lakers play the Phoenix Suns on Wednesday night, New Year’s Eve celebrations are expected to be significantly toned down. James said he only decided three days before the big night that he would have a party at all, which his wife Savannah helped assemble on the short turnaround. It wasn’t just a birthday, but a turning of the page on the year as well.“I was able to kill two birds with one stone, get my teammates there, coaching staff, my family, my friends, people that’s been around for quite a while and we had a heck of a time,” he said. “So it was another opportunity for us to bond, which we did. And if it brings us closer, then fantastic. That’s what it’s all about for me, bringing us closer to family as possible.” Newsroom GuidelinesNews TipsContact UsReport an Error The Lakers warmed to the challenge of their tough schedule last month, playing a host of teams bound for the playoffs. The concern, Vogel acknowledged, is that over a third of the way in against less-than-stellar competition, complacency can sneak in.“It’s a different sort of stretch right now,” he said. “I think we begin to enter the dog days of the NBA season, which is like now until All-Star break where it gets a little monotonous and there’s a little bit of a grind and hopefully we can get through that stretch. And then once All-Star break hits, you’re in the home stretch after that.”One of the factors the Lakers feel is in their favor is chemistry. Multiple players have cited the 1-through-15 chemistry on the roster as a strength, and James’ birthday party was the latest event where the Lakers have largely shown up off the court as a group.James pointed to his youth league days as a model: When he was a young player, he and his teammates would go to parks or malls and play video games together.“Not only did it influence the way I play on the court, having an effect on how I play today, it also had an influence of how I grew up with my friends, too, and having that brotherhood,” he said. “If you know anything about my childhood, the guys that I grew up playing ball are still around, they’re still like my best friends.”The same concept is important to his NBA teams, James said, which is among the reasons everyone was invited. The feeling of the Lakers is that off-court chemistry will help form on-court bonds that can help them in competitive games.It also leads to some nice post-party texts.“The best thing about it is that my teammates said how much of a time they had,” he said. “My family and my friends had a heck of a time. Got a lot of messages this morning saying how much fun it was, how much love was in the air. So that’s what makes it cool for me. The people around me had a good time.”center_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREUCLA alum Kenny Clark signs four-year contract extension with PackersThe Lakers ended 2019 pretty tight-knit, with a strong body of work behind them. Leading the Western Conference standings and finishing a challenging December slate at 9-5, some of their hardest work is behind them even though the bulk of the schedule remains.The year wrapped on an upbeat note with wins over the Portland Trail Blazers and Dallas Mavericks. After that second victory, Coach Frank Vogel had a chance to look at the footage of his team holding the No. 1 offense in the NBA to just 95 points – to his surprise, he saw some opportunities where his defense (104.8 defensive rating, No. 7 in the NBA) could be even better.That’s the Lakers’ 2019 resolution: They’re still looking for the perfect performance.“It’s just reason for optimism that we still have a long way to go and a lot of room for improvement,” he said. “It’s exciting what we can be.”A big part of that has been success against the teams they are supposed to beat: The Lakers are 17-0 against teams under .500 this season. They’ll have an opportunity to extend that perfection with upcoming home games against Phoenix, New Orleans, Detroit and New York.last_img read more