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

Transfer applications up slightly

first_imgThe USC Office of Admission has seen a small increase in the number of transfer applications received this year, though officials say the jump is not dramatic.According to Tim Brunold, director of undergraduate admission, the number of transfer applications is up about 3 to 5 percent.Brunold said the increase of California applicants is not drastically different than the overall increase in applications, though he suspects the slight increase can be attributed to the current turmoil in higher education.“It’s probably been a 200 application increase from California, which would be proportional to that overall increase,” Brunold said.With the recent budget cuts to California higher education, state community colleges and University of California schools have had to cut back on the number of courses offered to its students, raising a possible explanation for the increase in transfer applications.“I wouldn’t say that the increase has been dramatic,” Brunold said. “It’s not as if we are seeing a huge percentage increase from a certain type of school, but there definitely has been a reasonable size increase from the UCs. Last year we got about 400 from the UC system, and this year we have about 450 — an increase that is more than coincidental.”According to preliminary data, the quality of the transfer applicant pool has also stayed at a high level, a trend that the admission office said it sees every year.“We do ask for students to self-report what their GPA is, and that number is at the same high quality it has been in past years,” Brunold said. “Those patterns look similar, which is a very positive thing for us.”For Kevin Khakshouri, a junior majoring in policy, planning and development, his transfer from Santa Monica College to USC brought with it a change in work ethic.“You have to do a lot more reading; it’s basically more work,” Khakshouri said of his transition to USC. “I could get by without doing the reading, whereas at ’SC I can’t wait till the last minute. I have to stay consistent.”For USC, the recent transfer applicant pool is indicative of the increasing caliber of students looking to transfer.“Our transfer applicants are very high quality. Last year the average transfer had a 3.65 GPA. Every indication so far is that the quality has stayed the same. It certainly has not gone down,” Brunold said. “It’s getting to the point where the typical rate of transfer admission is similar to freshman admits.”last_img read more

Unbeaten Auburn visits Mississippi St. to open SEC schedule

first_img Written By WATCH US LIVE Associated Press Television News COMMENT SUBSCRIBE TO US First Published: 3rd January, 2020 17:33 ISTcenter_img Here are a few things to watch in Southeastern Conference basketball as league competition opens this week:GAME OF THE WEEKENDLOOKING AHEADCan LSU and Tennessee bounce back?: LSU is the defending SEC regular-season champion and Tennessee owned the nation’s No. 1 ranking for nearly a month last season, but both teams are struggling a bit as they prepare to meet Saturday in Knoxville. Tennessee (8-4) has dropped three of its last four games andNUMBERS GAMEAuburn is one of only two unbeaten Division I teams along with No. 13 San Diego State (14-0). … SEC teams have gone 8-3 in head-to-head matchups with the Atlantic Coast Conference but have a combined 9-16 record against the Big East, Big Ten, Big 12 and Pac-12. … Kentucky’s Ashton Hagans has recorded at least six assists in nine straight games. He has an SEC-leading 7.3 assists per game. … After winning 31 straight home games, Tennessee has dropped two of its last three at Thompson-Boling Arena. … The SEC’s only Top 25 teams are Auburn and No. 17 Kentucky. … The SEC had five teams in the top 50 of theIMPACT PERFORMERGeorgia’s Anthony Edwards was rated as the nation’s No. 2 prospect in his class, according to composite rankings of recruiting sites, and the 6-foot-5 guard has lived up to that considerable billing thus far. Edwards ranks second in the SEC in scoring (19.7), behind only Vanderbilt’s Aaron Nesmith (23.5). Edwards showed his ability to deliver in big games by scoring 37 points in a loss to No. 14 Michigan State. Edwards gets another chance to showcase his talents Saturday at No. 9 Memphis, when he matches up with the Tigers’ talent-laden freshman class.ON THE WOMEN’S SIDEThe SEC enters conference play with six teams in the Top 25: No. 4 South Carolina, No. 11 Texas A&M, No. 13 Kentucky, No. 15 Mississippi State, No. 20 Arkansas and No. 22 Tennessee. … Heading into Thursday’s games, Texas A&M’s Chennedy Carter ranked fifth among Division I players in scoring (22.8) and Auburn’s Unique Thompson was fifth in rebounding (12.2). Last Updated: 3rd January, 2020 17:33 IST Unbeaten Auburn Visits Mississippi St. To Open SEC Schedule Here are a few things to watch in Southeastern Conference basketball as league competition opens this week: LIVE TV FOLLOW USlast_img read more