Abu Dhabi’s sovereign fund buys 21% stake in UK pension insurer

first_imgIn the past 12 months PIC has backed pension fund buy-ins and buyouts worth more than £2.3bn. Competition within the sector has increased markedly in recent years, though, as companies seek to de-risk their existing DB pension schemes.Earlier this month, the trustees of the Littlewoods Pensions Scheme agreed an £880m (€1bn) pensioner buy-in deal with Scottish Widows and, in the first quarter, Rothesay Life acquired a £12bn portion of Prudential’s annuity book. According to JLT Employee Benefits, more than £19bn of bulk annuity transfer deals, longevity swaps, buy-ins, and buyouts have been struck in 2018 so far – close to the £21bn agreed in 2017.Tracy Blackwell, CEO at PIC, said: “We are confident that… they will continue to build on the valuable support provided by JC Flowers over the past 12 years, and ensure that PIC is ideally placed to meet the increased demand from pension fund trustees.”PIC has more than £25bn of assets, representing the benefits of over 150,000 individuals.Estimates put ADIA’s overall portfolio holdings at between $800bn (€692bn) and $875bn. The PIC purchase is the latest in a long line of investments by ADIA designed to build up its private equity arm across a range of sectors, including financial services, healthcare and technology.In recent years, ADIA has acquired stakes in KKR India Financial Services – a wing of the US private equity giant KKR – and US firm Hyatt Hotels, as well as holdings in the UK’s Gatwick Airport and Thames Water. The Abu Dhabi Investment Authority (ADIA), one of the largest sovereign wealth funds in the world, is to acquire up to 21.4% of the Pension Insurance Corporation Group (PICG) for an undisclosed amount from private investment firm JC Flowers.PICG is the parent company of Pension Insurance Corporation (PIC), the specialist insurer that provides bulk annuities to UK corporate pension schemes in what has become an increasingly buoyant market in recent years.“This investment is a further demonstration of our ongoing strategy to seek out principal investments in market-leading businesses with strong management teams,” said Hamad Shahwan Aldhaheri, executive director of the private equities department at ADIA. “PIC has proven its ability to respond to the growing trend for UK companies to de-risk their defined benefit [DB] pension obligations and, as such, has strengthened its position as the industry’s leading pension insurance provider.”last_img read more

NBA Finals 2019: Raptors players quiet classless fans who cheered Kevin Durant’s injury

first_imgStay classy, (some) Raptors fans.In sports, one of the most classless things a fan can do is cheer an opposing player’s injury, and that’s an unfortunate occurrence that happened during Game 5 of the NBA Finals on Monday night. Early in the second quarter of Game 5, Kevin Durant appeared to re-aggravate the same calf injury that caused him to miss significant time during the 2019 NBA playoffs. Durant was down for a bit, favoring his lower right leg before being helped off the court — and to the locker room — by Warriors personnel and teammates. (UPDATE: The Warriors believe Durant’s scheduled MRI will confirm a torn right Achilles tendon, according to ESPN’s Ramona Shelburne and Adrian Wojnarowski.)MORE: Complete highlights and more from Game 5 of Warriors vs. RaptorsBut as Durant was limping off the court, some clueless fans decided to cheer and wave away the Warriors’ superstar. In a (legitimately) classy move, Raptors players urged fans to pipe down. You can see Pascal Siakam, Danny Green, Kyle Lowry and others tell fans to knock it off in the video below.Both Warriors and Raptors players trying to tell the Toronto fans to stop cheering after KD’s injury… pic.twitter.com/0jbgKQ60Of— Def Pen Hoops (@DefPenHoops) June 11, 2019After initially cheering the injury, those in attendance started chanting for Durant and applauded him as he crossed the sideline and headed for the locker room. Mission accomplished, Raptors players.Come back stronger, KD. 💪 pic.twitter.com/aVOPsh8hBZ— theScore (@theScore) June 11, 2019Durant missed over a month of playoff basketball nursing a calf injury before returning on Monday.last_img read more

Winning debuts for South Africa, Uganda coaches

first_imgIn other matches, there were away victories for Mozambique over Kenya and the Central African Republic over Niger while the Ivory Coast defeated the Democratic Republic of Congo in France.Benin at home and Malawi away snatched late draws against Zambia and Lesotho respectively and Togo came from behind to hold Equatorial Guinea in France. Ntseki was a controversial choice to succeed English coach Stuart Baxter after South Africa exited the 2019 Africa Cup of Nations in the quarter-finals.He had never been a head coach at senior level and critics alleged his appointment had more to do with the cash-strapped national football association needing a “cheap” replacement.– Immediate goal –But Ntseki insists he is up to the task with his immediate goal being to achieve a top-two finish in a 2021 Cup of Nations qualifying group including Ghana, Sudan and Sao Tome e Principe and reaching the finals.South Africa controlled most of the match against Mali, but a 75th-minute goal from Sekou Koita for the visitors created a tense finish.Judgment on Ntseki will have to be delayed as Mali lacked many of the players who took them to the last 16 of the Cup of Nations in Egypt this year.The 1-0 win for Mozambique over Kenya in Nairobi was a surprise with the only goal coming from Amansio Canhembe midway through the second half.Justin Shonga twice gave Zambia the lead against Benin in Porto Novo, but Michel Pote salvaged a 2-2 draw for the home side with a stoppage-time goal.Malawi left it almost as late to rescue a 1-1 draw away to Lesotho in Maseru with Hassan Kajoke scoring two minutes from time after Hlompho Kalake had put the home team ahead.Record seven-time African champions Egypt host Botswana Monday and 2019 Cup of Nations winners Algeria meet Colombia in France Tuesday as a six-day friendlies schedule continues.The matches are being used to prepare teams for the first two rounds of qualifying during November for the 2021 Cup of Nations in Cameroon.Share on: WhatsApp McKinstry (middle) with his new team of coaches. PHOTO FUFA MEDIAResultsEthiopia 0 Uganda 1South Africa 2 Mali 1 Johannesburg, South Africa | AFP |  South Africa and Uganda won international friendlies Sunday to give new coaches Molefi Ntseki and Northern Ireland-born Johnny McKinstry successful debuts.Goals from Dean Furman and Themba Zwane earned South Africa a 2-1 home victory in Port Elizabeth over Mali, who were missing many stars, including Southampton forward Moussa Djenepo.It was the first match for Bafana Bafana (The Boys) since xenophobic attacks on African immigrants in South Africa last month led Zambia and Madagascar to cancel friendlies.McKinstry guided Uganda to a 1-0 away win over Ethiopia in Bahir Dar with long-serving Emmanuel Okwi scoring the only goal midway through the first half.This is the third national coach post for the Irishman, who took charge of Sierra Leone in 2013 when only 27 years old and was later hired by Rwanda.last_img read more

Darren achieves English golf’s first DEAFinitely Inclusive Mark

first_img27 Sep 2016 Darren achieves English golf’s first DEAFinitely Inclusive Mark Lincolnshire PGA professional Darren Game has achieved golf’s first DEAFinitely Inclusive Mark in England. DEAFinitely Inclusive is UK Deaf Sports’ programme to provide deaf and hard of hearing people with information about clubs and facilities so they can be confident of receiving a fun and friendly sporting experience. The DEAFinitely Inclusive Mark is a quality assurance mark that deaf and hard of hearing people will receive a good service, including: • Coaches trained in deaf awareness • Clear details of how to contact the club by text or email • Support and expertise on how to develop as a player coach or volunteer Game, who teaches at his indoor Bourne Golf Centre and his Lincolnshire Junior Academy at Toft Golf Club, said: “Golf is a great sport for deaf and disabled people, whether it’s developing your own skills and etiquette or playing as part of a team. “Making the game accessible to all within the local community is a passion of mine and obtaining the DEAFinitely Inclusive Mark will open up the game to more people.” Becoming DEAFinitely Inclusive was a key aim for Game as he continued to develop his skills and make his existing coaching and playing opportunities more inclusive of deaf and hard of hearing people. He is a keen advocate that golf can be a game for all and has worked hard to develop links in his local area. These include Willoughby School where pupils with a range of impairments have benefitted from being involved in golf. Two of the pupils are continuing their golf at Toft, where Game has a junior development role. Jamie Blair, Disability Manager for England Golf commented: “It is really pleasing to see a coach and a facility make a strong commitment to including deaf participants in their golfing activity. “England Golf will continue to encourage more facilities to adopt the Mark and engage with their local deaf networks in partnership with UK Deaf Sport and England Deaf Golf.” Clive Breedon, National Participation Officer from UK Deaf Sport commented: “UK Deaf Sport are very pleased to accredit Bourne Golf Centre and their work with The Lincolnshire Junior Golf Academy as DEAFinitely Inclusive. Darren is keen to make golf accessible to people who are deaf or hard of hearing so we look forward to supporting him to do so.”last_img read more

Ffion makes history thanks to Girls Golf Rocks

first_img Tags: Eaton Golf Club, Ffion Jones, Girls Golf Rocks Girls Golf really Rocks for Cheshire teenager Ffion Jones who is about to make history as the first female junior captain at her club.Ffion, who only started playing golf 14 months ago thanks to the Girls Golf Rocks campaign, will be the 2018 junior captain at Eaton Golf Club in Chester.The 17-year-old got into golf after her mum spotted an advert for Girls Golf Rocks, the recruitment campaign run by England Golf and the Golf Foundation which inspires more girls to take up the game.At first Ffion was reluctant to go along to the taster session at Eaton as she didn’t think she would know anyone. But when she arrived she found she knew several of the other girls and in her own words “golf was a lot better than I thought.”In fact, she enjoyed golf so much so that when her Gran offered to buy her a junior membership at Eaton for Christmas she jumped at the chance to join the club. She’s since been followed by her 11-year-old brother and the two of them can be found practising together at the club on most days.Over the last 12 months Ffion has lowered her handicap from 36 to 21.8 and was the most improved woman golfer of the year for 2017. She has also played for Eaton in matches against other local clubs, is currently playing in Eaton’s junior winter league and recently, along with her brother, their friend and one of the clubs pros, won a night golf competition where they were the only juniors playing.Ffion is studying for her A Levels at Christleton High School and then will take a gap year when she plans to work and play as much golf as possible to achieve her aim of getting her handicap down to single figures.She will also be carrying out her role as junior captain throughout 2018 and hopes that this will help her to get to know the other juniors better and encourage more girls to become members of Eaton Golf Club. She would especially like to see more girls playing in the winter junior league next year to redress the balance in the league which this year has three girls and 19 boys taking part.Eaton’s Head PGA Professional Bill Tye, commented: “I could tell from the start that Ffion was a talented ball player and she has excelled. She’s really, really keen, completely hooked on the game and we thought we would give her this honour.”Ffion’s mum Hilary Jones – who is not a golfer – said: “All the members and the staff at Eaton Golf Club have been really good to the juniors at Eaton and I’m really pleased that I signed Ffion up for Girls Golf Rocks. It’s also great for me to see Ffion and her younger brother enjoying an activity together, golf is good for them as a physical activity but it also teaches them other things such as honesty and respect “.Ffion herself says:  “I really wish my mum had signed me up for golf years ago, I enjoy it so much and am really excited to be Eaton’s first female junior captain.’Alison Lysons, England Golf Club Support Officer in Cheshire commented “It’s exciting to hear that someone coming through the Girls Golf Rocks programme has developed such a love for golf and is becoming her club’s first female junior captain. Eaton Golf Club has a great junior programme and Ffion’s experience will be invaluable in encouraging other young girls to take up the game of golf there”.Lauren Spray, Women and Girls’ Participation Manager at England Golf added: “It’s fantastic to see how quickly Ffion has progressed through the programme, attaining a handicap in such a short space of time and getting it down to 22 is fantastic to hear.“As part of Girls Golf Rocks we ask girls to become county ambassadors to inspire new girls who come into the programme. By being appointed junior captain Ffion will now be one of those vital role models to new girls coming into the programme and at Eaton. This is a fantastic success and we wish Ffion all the best with her A Levels and her year as junior captain!”For more information about Girls Golf Rocks click here For more information about junior golf at Eaton Golf Club contact Bill Tye at bill@billtye.co.uk center_img 17 Dec 2017 Ffion makes history thanks to Girls Golf Rocks last_img read more

Adopt-A-Pet Dog of the Week

first_imgFacebook16Tweet0Pin0Submitted by Adopt-A-Pet of SheltonLuna Bosco is still waiting for her forever and loving family to come to Adopt-A-Pet and take her home! Luna is a beautiful 2-year-old female Blue PitBull Terrier whose birthday is November 14, 2014.  She weighs approximately 50 pounds, is spayed, and up to date with her vaccinations.  Luna loves sitting for treats, fetch, walks, laying in the sun, chewing bones and car rides (she just falls asleep). This smart girl knows obedience commands, has good recall and received 30 days training from Muck Creek Kennels in Roy, WA.  Luna is doing very well with meeting other dogs, following commands, and learning all kinds of fun things. Luna prefers a stable and calm home (adults only please), daily exercise, and someone who will continue to be her leader and challenge her mind!  If you are interested in this beautiful girl, and would like to take advantage of a day of personal instruction at Muck Creek Kennels with Luna, contact Adopt-A-Pet in Shelton, WA.  Emails are preferred.Adopt-A-Pet has many great dogs and always need volunteers. To see all our current dogs, visit www.adoptapet-wa.org, Facebook at “Adopt-A-Pet of Shelton Washington” or at the shelter on Jensen Road in Shelton. For more information, email thedoghouse3091@hotmail.com.last_img read more

LVR salutes top Bomber athletes following stellar season

first_imgL.V. Rogers is getting ready to wap things up on another exciting school year at the Fairview High School.Bombers teams brought back a pair of BC High School Provincial titles in Boy’s Rugby and Girl’s Soccer to hang on the walls of the Hangar.However, before the final test has been marked, the athletic department saluted its top students during the annual awards ceremony.Some of the award winners included: Jonah Thiele: Top Male Scholar Athlete award:  for a student who excelled in both their chosen sport as well as their academics.  Jonah is an elite soccer player.Kyra Burkart: Top Female Scholar Athlete award:   “  “     “     “       “      Kyra was one of the stars on her soccer and field hockey teams.Naomi Perkins: Received the Most Outstanding Female Athlete award: for her play in soccer led LVR’s Soccer Team to a Provincial Championship and was awarded the tournament MVP. Perkins also received the Best All Around Athlete award (besides soccer, she also excelled in basketball, field hockey and X-Country Running).Darian Johnson: Best All Around Male Athlete award – for his achievements on the basketball, soccer, and X-Country Running Teams.Josh Matosevic: Most Dedicated Athlete award – for his extreme dedication to his own personal growth as a basketball player and for helping with the Steve Nash Foundation which promotes basketball to our local elementary school youngsters.Eli Swan-Wilson: Most Oustanding Male Athlete — Swan-Wilson captained the LVR Rugby Team to a AA Tier 2 Provincial Championship.  He received a “Commissioner’s 15” recognition, rugby’s version of being selected to the all-star team.last_img read more