UK roundup: Western United, Rothesay Life, Just Retirement, NEST, Allianz GI

first_imgRothesay Life has secured another tranche of liabilities from the Western United Group Pension Scheme, after completing a £111m (€134m) buy-in transaction.The scheme currently has around 14,000 members with around £500m in assets, of which £115m were insured in early 2013.The arrangement covers former employees of the Vestey Group, and was secured through the exchange of cash and UK gilts in return for the insurance policy.Group head of reward for Vestey Group, Ben Fowler, said the transaction represented the next step in the scheme’s de-risking strategy. “We returned to Rothesay Life because they provided a low-risk solution with operational precision and accompanying longevity, pension increase and re-investment protection,” he added.In other bulk annuity news, Just Retirement has completed a £36.5m single medically underwritten buy-in transaction, which it believes is the largest of its kind.The deal covers 200 members of a pension scheme in the shipping industry, who are all aged between 65 and 80. The insurer gathered medical information by conducting telephone interviews with an 85% response rate.It was agreed purely through a transfer of assets, with no additional cash contributions from the sponsoring company.Just Retirement director of DB solutions, Tim Coulson said: “The industry in which the members of the scheme worked resulted in a prevalence of medical and lifestyle conditions that was not fully reflected by traditional rating factors.”The scheme was advised by LCP,with partner Clive Wellsteed, said: “This is an interesting transaction for a scheme that is unlikely to have completed a buy-in without the advent of medical underwriting.”Lastly, the National Employment Savings Trust (NEST) has appointed Allianz Global Investors as investment strategy advisers, who will look to provide the DC-trust with scenario modeling.Allianz will also provide the fund with advice on the investment strategy of its target-date funds, as well as capital market assumptions, risk management and analysing the expected risk and returns from the fund’s investments.The company said its offering would support, and be complementary to, NEST’s in-house investment team, with advice coming on a project-by-project basis.Mark Fawcett, CIO of the fund, said the appointment of Allianz GI was due to a previous successful relationship.Elizabeth Corley, CEO of Allianz GI, said: “By offering our independent investment advisory expertise, we are pleased to be supporting NEST giving employers, from the smallest firms to the largest organisations.”last_img read more

Martin wraps up 11th track title at Independence Motor Speedway

first_imgBy Ryan Clark INDEPENDENCE, Iowa (Aug. 23) – Nobody has won more track championships or Late Model features at Independence Motor Speedway than Curt Martin.He added to that stellar career Saturday night.Martin, who entered the night tied atop the standings with Darren Ackerman, led all 30 laps of the IMCA Late Model feature and took the checkers half of a lap ahead of Jon Passick during Budweiser Season Championships. It was Martin’s 95th Late Model win in weekly racing history and his 11th track championship at the speedway, his first since 2006. Martin’s first track title came in 1984.Troy Cordes, Alex Zwanziger and Benji Irvine also locked up track titles by finishing the season in victory lane. Roger Ciesielski earned his first Independence win in the IMCA Sunoco Stock Car division while Norman Chesmore earned track champion honors in that division.All feature events were lined up straight-up based on season point totals. The top four in each division’s standings were given the chance to double their money by taking the Indee Challenge – winning the feature after starting at the tail of the field. From his front row start, Martin quickly pulled away from Ackerman and extended his advantage to over a straightaway before a lap seven caution bunched the field. Martin continued his dominant performance when racing resumed and built a half a lap lead when the yellow flag again bunched the field with nine laps to go. He pulled away once more on that restart to drive to the convincing win.Cordes earned his fifth win of the year in the Performance Bodies IMCA Modified 25-lapper. He took the lead at the drop of the green while Tyler Droste worked his way past Scott Hogan for second on lap two. Cordes held the point on a lap 11 restart as he and Droste pulled away from traffic. Droste kept pace with the leader, however was unable to challenge for the win as Cordes drove to victory and his fourth track title in the division.Zwanziger earned the first track championship of his career in the Karl Chevrolet Northern SportMod division.Zwanziger set the pace at the drop of the green and built a sizable advantage over the pack. Meanwhile, Jenae Gustin, who took the challenge and started at the tail, made a quick run through the 18-car field. Gustin found herself in the top five after just six laps and worked her way past Danny Dvorak for second with three laps to go. Gustin closed the gap on the leader, however Zwanziger was too strong out front as he raced to victory in the caution-free 20-lapper. Irvine fought off heavy pressure from Justin Wacha in lapped traffic to earn his seventh win of the season and his second straight IMCA Sunoco Hobby Stock track championship. Irvine built a comfortable lead until he encountered slower traffic midway through that 20-lapper. Wacha chased Irvine through the backmarkers in the waning laps and challenged to the inside of the leader, however Irvine held on for victory. All four drivers at the top of the IMCA Sunoco Stock Car standings took the challenge and started at the tail of that 12-car feature. That left Jason Hocken on the pole for that 25-lapper. Hocken paced the field for the first 15 laps while Cieisielski raced into contention from a third row start. Ciesielski raced past Hocken on the 16th circuit to drive to victory.Chesmore wrapped up track championship honors by simply taking the green flag in the event. He finished fourth in the feature.last_img read more

MGA cancels Sports Fantech’s B2C gaming licence

first_img Related Articles Betby receives green light from MGA August 10, 2020 Share Share Submit MGA survey reveals investment postponements as COVID-19 biggest rupture  May 28, 2020 StumbleUpon MGA report reveals 14 licences cancelled in 2019 June 23, 2020 The Malta Gaming Authority (MGA) has continued its crackdown on operators in breach of the country’s gaming laws after it confirmed it has cancelled Sports Fantech’s B2C gaming licence with immediate effect. Under the new ruling, Sports Fantech will no longer be permitted to carry out any gaming operations, register new players or accept new customer deposits. However, the regulator has specified that the operator ‘is required to retain and provide all registered players with access to their player accounts and to refund all funds standing to the credit of players in line with the applicable law’.Sports Fantech was previously authorised to offer type 4 gaming services such as controlled skill games on a B2C basis via its licence.The MGA ruled that Sports Fantech breached paragraph H of the Third Schedule to the Gaming Act, whereby it failed to make payments to the MGA when lawfully due.Sports Fantech will be permitted to appeal the ruling under article 43 of the Gaming Act. Earlier this year, the MGA announced a trio of licensee suspensions, confirming that it had suspended the licences of German/Turkish online bookmaker Betixx Limited, alongside Silema-based industry games developer Morpheus Games (MT).The MGA also fully terminated the operator licence of World-of-bets EU Limited, which had held a licence in Malta since 2008. Under the termination, the regulator redirected visitors from the World-of-bets flagship portal wobets.com towards an MGA holding page.last_img read more

Lonzo Ball’s cleaned-up shot draws approval from Lakers brass

first_img Newsroom GuidelinesNews TipsContact UsReport an Error EL SEGUNDO — What can Lonzo Ball do to improve his shot? If you asked 10 different people, you’re likely to get 10 different answers.But it seems Ball went in search of his own answers to that question after shooting just 36 percent from the field last year, one of the worst guard efficiencies in the league. And watching Ball lately, the powers-that-be in the Lakers’ front office seem satisfied that he’s come a long way.“Man,” said Magic Johnson, pantomiming Ball’s adjustments Thursday afternoon, “it is beautiful.”Ball’s stroke has always been unconventional, and even in recently released team footage, it’s still odd-looking: The 20-year-old holds the ball further left than most right-handed shooters, and he flicks his wrist sideways from his set hand. Trail Blazers, Grizzlies advance to NBA play-in game; Suns, Spurs see playoff dreams dashed Lakers practice early hoping to answer all questions How athletes protesting the national anthem has evolved over 17 years AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREUCLA alum Kenny Clark signs four-year contract extension with PackersThe new motion has traces of the old motion, but cleaned up: The Lakers like that he sets more to the center than he used to, and General Manager Rob Pelinka thinks the release is a little less clunky.Pelinka, who used to have shooting contests with former Michigan teammate and 3-point ace Glen Rice, admitted he has talked to Ball a lot about shooting. But he insisted the team hasn’t pushed him to make huge changes in mechanics, only to find a more consistent, fluid stroke.“I feel like you can boil it down to release, the spin on the ball and arch,” Pelinka said. “So I had many conversations with Zo of, just get those things right where you feel fluid about it. He would take things in. The way he’s shooting the ball looks a lot more fluid now.“Before he was the No. 2 overall pick back in 2017, Ball had a transcendent one-and-done year at UCLA, during which he shot 41 percent from 3-point range. The Lakers hope he finds the touch he once had as a prospect, which could help him play more off the ball – a necessary role since he’ll be sharing the court with playmakers LeBron James and Rajon Rondo next season. Pelinka said he thinks Ball could be valuable as a catch-and-shoot player in those instances, as long as the shot continues to improve.center_img Sign up for Home Turf and get exclusive stories every SoCal sports fan must read, sent daily. Subscribe here.It’s not the only thing Ball has worked on, of course: Johnson cited Ball’s rapt attention for film study, including a handful of sessions with Magic himself. While he spent the summer recovering from knee surgery, he was often in the team’s weight room, watching his teammates play scrimmages on the court feet away. Johnson thinks the development of other young players, especially Kyle Kuzma, could be a motivating force for Ball.Johnson, the president of basketball operations, famously said last summer he expected Ball’s jersey to hang from the rafters one day. He was more tempered Thursday when evaluating the second-year point guard, but still confident.“I am excited for Lonzo,” he said, “and he is going to be fine.”OFF-CENTERMore than a few people have noticed the Lakers seem precariously thin close to the basket.While the team’s wing options are robust, the only center with significant NBA experience on the roster is JaVale McGee, a 10-year vet who averaged less than 10 minutes per game the past two seasons for the Golden State Warriors. While Croatian big man Ivica Zubac is also a traditional center, the roster structure has fueled speculation that other forwards (including LeBron James) might play more small-ball center.Johnson and Pelinka didn’t seem to sense a weakness: In an era when the “positionless” basketball the Warriors often play is a goal for many teams, a traditional big man takes on less importance, Johnson suggested.“You know the game has gone to (smaller play),” he said. “There’s not a true center playing backup, and we’ve got one of the best going to be there.”McGee, a long-limbed shot-blocker, hasn’t averaged double-digit points since 2012. But defensively, he’s expected to make a difference, and the Lakers think he’s gained character from his runs with the Warriors.Outside of McGee, Pelinka said the front office wanted to design the roster with “thrust”: a variety of players who could attack and pounce the length of the court to pressure opponents. Just because the Lakers don’t have a ton of big man experience doesn’t mean they lack length. Pelinka also pointed out the team has seven players who are 6-foot-9 or taller (even though some of those players are guards).“As the game is moving to be more positionless, we really don’t talk about center or point guard,” he said. “It is a positionless game and we have a long roster with adequate size for sure.”ROSTER SPOT REMAINS OPENIt was notable that Pelinka said Thursday he feels the Lakers’ roster is especially deep from “one to 14.” Because there’s a 15th spot that so far is unfilled.Related Articles Lakers, Clippers schedules set for first round of NBA playoffs Trail Blazers beat Grizzlies in play-in, earn first-round series with the Lakers Expect that spot to remain empty for at least a little while longer. Even as training camp begins Tuesday, the Lakers want to keep a spot open. It could serve as spot help for a need identified in camp, Pelinka said, or if the team gets into a trade discussion, they could receive two players for one.The Lakers want to keep their options on the table.“We do want to have that flexibility, and we just want to keep it open because the team is so deep,” he said. “We don’t have any current needs right now.”last_img read more