​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

MBB : LoGiurato: Extra time off helps SU going into postseason play

first_img Published on March 6, 2011 at 12:00 pm Facebook Twitter Google+ ‘War’ starts a little after 5 p.m. for Syracuse most days during the week.That’s when, a little more than an hour into practice, the players scrimmage five-on-five. The starters make up one side, and the first five off the bench — Dion Waiters, Mookie Jones, C.J. Fair, James Southerland and Fab Melo — usually make up the other team.And to Waiters, who runs the point for the second team, ‘war’ is the best way to describe it.‘We battle in practice,’ Waiters said after SU’s 107-59 win over DePaul on Saturday. ‘We want to get better — and I want to get better — at the end of the day. So when the second group comes on and we’re playing against Scoop and them — the starting five — we go hard.‘It’s a war out there.’AdvertisementThis is placeholder textThe Orange got a lot more of that these past two weeks, when it had five days to prepare for a game at Georgetown and a week for the game against the Blue Demons on Saturday.The time off was important for multiple reasons, most of them obvious. But almost every member of SU expressed how important the breaks were between games.That was because Syracuse displayed a rejuvenated, in sync and, at times, perfected style of play Saturday against DePaul. In the largest margin of victory in Big East conference history, the Orange secured a double-bye in the upcoming Big East tournament in what was easily its most impressive performance of the season. And that should bode well for a team that looked so good coming off an obscene amount of rest Saturday.‘We go to New York with a good thing — the double-bye,’ SU head coach Jim Boeheim said. ‘It didn’t work out too well last year. You’re going to play a team that is coming off a good win and gain confidence from that. We’ll see what happens when we get down there.’Granted, SU looked rejuvenated against a DePaul team that obviously doesn’t take lessons from Charlie Sheen. So let’s talk about the stats Boeheim starts to bring up — because they are not in Syracuse’s favor. Since the league instituted the double-bye two years ago, higher-seeded teams have struggled.The teams that receive double-byes are 7-6 overall the past two years. The quarterfinal round, especially, has been a toss-up.Syracuse, of course, was a lower seed two years ago when it knocked off Connecticut in the legendary six-overtime thriller. Last year, three of the four top seeds were knocked off in the round.But from watching the past two wins for this SU team, it’s evident the added rest and practice time were the two things that contributed most to the Orange’s recent dominance.‘A week can either hurt you or help you,’ SU forward Kris Joseph said. ‘And in our case, I think it really helped us.’Specifically with respect to the win over the Blue Demons, the week between games helped Syracuse get in sync offensively. That was something it failed to do most of the time in two impressive wins at Villanova and Georgetown last week. Those games were won on the defensive end of the floor.Lessons from the time off showed Saturday as the Orange excelled in both its steady transition attack and its half-court offense. It showed when Jackson zipped seamless line-drive passes to Waiters in the transition attack. It showed for the freshman Waiters, when he zigzagged his way through the Blue Demons’ defense for 12 points and three assists.And it showed for the entire Orange offense as Boeheim played all 17 players on his roster. In a balanced attack, six players scored in double figures. Fair — who used the time off to rest an injured ankle — went for 11 on 4-of-4 shooting and 3-of-3 from the free-throw line. Melo came through with perhaps his best game of the season, scoring 10 on perfect shooting and grabbing six rebounds.Now Syracuse has that extra day before the Big East tournament starts. More importantly, thanks to the last two weeks of work, SU appears to be hitting its stride at exactly the right time.‘When you finally get a chance to go out there and play,’ Waiters said, ‘it’s all out. You take everything you learn from practice and the hard work you put in. And it’s starting to pay off.’Brett LoGiurato is the sports editor at The Daily Orange, where his column appears occasionally. He can be reached at bplogiur@syr.edu. center_img Commentslast_img read more

Gery: Shafer the right coach to keep Syracuse’s momentum moving forward

first_imgFor the last four years, Scott Shafer stuck to a simple approach. He was here to lead the Syracuse defense, here to do his job as he had at his previous seven coaching stops.So he did – he coached his players and he worked with the Orange coaching staff to resurrect a once-proud football program. He didn’t concern himself with much else.Simple turned out to be effective. Shafer was introduced as Syracuse’s head coach Friday, replacing Doug Marrone after serving as defensive coordinator for four years. Marrone’s departure earlier this month for the Buffalo Bills comes at a crucial time for Syracuse, as it loses many of its top playmakers just as it prepares to make the jump to the Atlantic Coast Conference.Shafer is the right man for the job. The right man to guide the team through the transition.“I felt in my heart that this guy is already a head coach,” SU Athletic Director Daryl Gross said Friday at Shafer’s introductory press conference.AdvertisementThis is placeholder textShafer’s resume speaks for itself. He’s paid his dues in the coaching profession, gaining the respect of his colleagues since he started his career as a graduate assistant at Indiana in 1991.He proved himself at Northern Illinois, where he led a unit that ranked toward the top in many defensive categories in the Mid-American Conference during much of his tenure. He proved himself at Western Michigan, where he helped the program go from one win in 2004 to eight in 2006 – a year in which his defense led the country in sacks and interceptions. And he proved himself at Stanford, where he worked under Jim Harbaugh, now the head coach of the San Francisco 49ers.“Scott is hard working, enthusiastic and of high character,” Harbaugh said in a statement. “Great things will happen with Shafe.”Great things have already happened with Shafer at Syracuse.Serving under Marrone, he helped Syracuse regain respectability after a disastrous 10-37 stretch in Greg Robinson’s four-year tenure as head coach left the program in shambles. In the last four years, the Orange put together two winning seasons highlighted by a pair of bowl victories and a share of the 2012 Big East title.Shafer left his mark on the program’s turnaround through his work with the defense. He did his job, getting the players to buy into his system and bringing out the best in them with his fiery coaching style.In his first season, SU finished 37th in the nation in total defense – a category it ranked 101st the previous year. The Orange was seventh in the country in 2010, which was the team’s first winning season (8-5) since 2001.It all contributed to the foundation for success laid by Marrone in the last four years – a foundation needed for Shafer to carry out his vision for the program’s future.“We want to make one of the best teams in the nation,” Shafer said. “That is a goal of ours.”It’s an ambitious goal, and whether SU achieves that remains to be seen. But Shafer is fired up after receiving his first head-coaching job – something that’s been a goal of his since he was 10 years old, growing up as the son of a high school football coach.He’s dedicated his life to coaching. He understands how to motivate his players. He knows what it takes to prepare his teams to play.He has a detailed plan for Syracuse football to achieve his goal – a vision of a hard-nosed team that plays a brand of football that’s fun to watch.It’s Shafer’s program now, and he’s ready to pour everything he has into making his vision a reality, just as he did the last four years leading the defense with his simple, effective approach.“I’m the type of person that always felt like you do your job and everything else takes care of itself,” Shafer said.This Syracuse team will be a reflection of Shafer. Comments Published on January 14, 2013 at 2:49 am Facebook Twitter Google+center_img Related Stories Cohen: Marrone accomplished goals at Syracuse, leaves with positive legacyShafer envisions ‘hard-nosed’ football programShafer excited about addition of ‘hard-nosed’ Bullough as defensive coordinatorShafer officially named as Syracuse’s next head coach; Spent last 4 seasons as defensive coordinatorShafer to lead Orange with intensity, put ‘fear of God’ into opponentslast_img read more

UPFI to Promote Healthcare, Education, Others

first_imgAmid a bad economy, vices and critical political challenges in Liberia, the Universal Peace Federation International (UPFI) has announced plans to help promote development in the country.The UPFI has an NGO (Non-governmental Organization) consultative status with the Economic and Social Council of the United Nations (UN).Dr. Thomas G. Walsh, the chairman of UPFI, disclosed that after the launch of the International Association of Parliamentarians for Peace in Liberia (IAPP-Liberia) in July, the country stands to benefit from programs, including the construction of a Peace Road, to promote an international highway and railway.Dr. Walsh said the UPF will support healthcare, through a negotiation with the Government of Japan, help develop a curriculum for tertiary education, and promote entrepreneurship and coffee production.He made the disclosure to journalists yesterday in the conference room of House Speaker Bhofal Chambers, following a close-door meeting with him.The UPFI Chairman further said the UPFI in collaboration with IAPP-Liberia will establish the Inter-Religion Association, promote peace and development, mutual respect and cooperation.He further said the presence of the IAPP would promote marriage and family values as well as the physical and spiritual beings of Liberians.Dr. Walsh is the Secretary-General of the Sunhak Peace Prize Foundation, and also serves on the International Council of the World Association of Non-Governmental Organizations and on the board of directors of the International Coalition for Religious Freedom.Others who were part of Dr. Walsh’s delegation included Rev. Adama Doumbia, Secretary General of UPF-Africa, and Rev. Pamela S.M. Mwanga, the President (Chairman) of the Family Federation for World Peace and Unification (FFWPU)-Liberia.After its establishment, the IAPP-Liberia will provide a forum for 73 members of the House of Representatives and 30 members of the Liberian Senate, to form part of the parliamentarians from all nations and political parties, allowing them to come together to dialogue and cooperate with each other, to search for solutions to local, national, regional and global problems.IAPP will work with many organizations and associations of parliamentarians around the world, some formally organized as intergovernmental bodies and others informally associated.The primary objectives of IAPP include the following: to promote good governance in all sectors of society; to develop high-quality educational programs for parliamentarians, and to promote and encourage dialogue and cooperation among parliamentarians from nations around the world, with the aim of promoting peace and human development.Other objectives of the IAPP include upholding core and universal principles, recognizing that all human beings are members of one global family; to protect, preserve and uphold the dignity and value of each human being; to strengthen the family as the central and most fundamental institution of human society; to work to build trust, mutual respect, and cooperation among the world’s peoples; and to encourage respect, inter-religious dialogue as essential to building a peaceful world.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more