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German insurer buys €1.8bn Pensionskasse in ‘run-off’ deal

first_img“We are aware of the importance of occupational pensions for employees of the Cofra group, especially those of C&A and we will take on this responsibility unreservedly,” said Bernd Neumann, the insurer’s chief financial officer.No statement was made by C&A or Prudentia on the deal, which is still subject to approval by German supervisor BaFin.The sale of the Pensionskasse could be connected to rumours about a possible sale of C&A by Cofra, which has been reported in the German press.Frankfurt Leben is owned by Chinese finance group Fosun and is one of several run-off platforms to have started operating in the German market over the past two years.Life insurance companies and German Pensionskassen alike are struggling with the current low-interest rate scenario, which has challenged their ability to keep promises made in different market environments.By selling businesses to run-off platforms, companies can take some liabilities off their balance sheet. Experts have also argued that pension plans with falling memberships can benefit from pooling together on such platforms.Read more about run-off deals in Germany in the April issue of IPE. The Cofra Group, owner of fashion company C&A, has sold its German Pensionskasse to Frankfurter Leben-Gruppe (Frankfurt Leben).In total, €1.8bn in assets run for C&A’s 50,000 current and former employees in Germany were transferred to the run-off platform.The sale of Prudentia PK follows Frankfurt Leben’s purchase of AXA’s €3bn multi-employer Pensionskasse Pro bAV in February. The insurer now runs roughly €10bn of pensions and insurance assets.Frankfurt Leben, which specialises in running closed asset pools, said it would continue to run C&A’s pension plan and make payouts.last_img read more

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Wilder mocks ‘pillow fists’ of Fury ahead of rematch

first_img “I don’t believe he’ll be able to develop (power), no matter what trainer he brings in,” Wilder said. “You just don’t develop power in a couple of weeks… it’s impossible.” Fury, who is arguably the most skillful defensive boxer in the heavyweight division and outfoxed Wilder for long periods in the first fight, says he plans a more aggressive approach in the rematch. But Wilder is skeptical that the self-styled “Gypsy King” plans to go on the attack, and believes that he has already planted doubt in Fury’s mind after sending him to the canvas with a crushing combination in the 12th round last time. Fury miraculously recovered his senses after that knockdown and somehow managed to hang on for the draw. Wilder, however, believes he has inflicted lasting damage on the Briton. “If he brings the fight to me it’s going to make the fight that much more interesting,” Wilder said. Promoted Content14 Hilarious Comics Made By Women You Need To Follow Right Now10 Risky Jobs Some Women DoA Hurricane Can Be As Powerful As 10 Atomic Bombs6 Interesting Ways To Make Money With A Drone10 Characters Who Deserve To Be Official Disney PrincessesWho Is The Most Powerful Woman On Earth?The Models Of Paintings Whom The Artists Were Madly In Love With7 Black Hole Facts That Will Change Your View Of The UniverseBest & Worst Celebrity Endorsed Games Ever Made10 Extremely Gorgeous Asian Actresses7 Theories About The Death Of Our Universe7 Ways To Understand Your Girlfriend Better Read Also: Tyson Fury denies he’s nervous ahead Wilder rematch “Deep down in his heart, I really feel that he’s nervous from the first time. When you knock a person out and get a concussion, you never forget that. “You never forget who did it to you. And when you’re going back in the ring with that person a second time it has to be stressful. He knows what the truth was. “He can say he beat me by a wide margin but he honestly don’t believe that. If he believed he beat me, he wouldn’t have changed up so much.” FacebookTwitterWhatsAppEmail分享 Loading… World heavyweight champion Deontay Wilder ridiculed Tyson Fury’s punching power on Tuesday as the two unbeaten fighters prepare for their eagerly anticipated rematch in Las Vegas. Wilder, the reigning WBC champion, climbs back into the ring with British star Fury on February 22, 14 months after the two men battled to a thrilling draw in Los Angeles in December 2018. World champion Deontay Wilder (L) doubts Tyson Fury (R) possesses the punching power to knock him out in their February 22 rematch Fury, who was knocked down twice by Wilder in the first fight, insists he plans to chase a knockout in the rematch, believing he has little chance of winning a decision in front of Las Vegas judges. However, Wilder on Tuesday poured scorn on Fury’s threats of knockout – dismissing his opponent as having “pillows” for fists. Wilder, 42-0 with one drawn and 41 knockouts, cited his experience from the first Fury fight, revealing he had felt no soreness after the 12-round scrap. “I can’t tell you any rounds where I felt like I was threatened by his power,” Wilder said on a conference call. “He has pillows as fists. That’s how soft they were. Maybe my adrenaline was too high to feel anything. Sometimes after a fight you feel sore. But even after the fight I didn’t feel anything. “I took all his punches, the ones he landed, and I walked right through them. So I don’t respect none of his power. “He’s just a tall big man that can move around the ring. And that’s about it. As far as power, there’s none there.” – Power outage – Fury has switched trainers for next week’s rematch, bringing in Javan “Sugarhill” Steward in a move he hopes will boost his knockout power. Wilder, however, is unimpressed by the changes in Fury’s corner.last_img read more

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first_imgChange The Scene this Halloween at GartanThe All New Devil’s Realm has relocated to the Gartan Outdoor Centre for 2015 which makes for a perfect overnight destination for mid-term break for those how dare!The Devils Realm is a professional, frightening walk through the forest – this event is intense with effects that are intended to increase the realism of the experience.Stay if you DARE! Gartan are offering superb offers for those who wish to stay overnight, with dorm B&B €18pp, Private 4 Bed Room with shared bathroom only €60 in total and Private Ensuite Room which can accommodate up to 4 people only €75.Most bedrooms overlook the stunning Gartan Lake, and the dining area for dinner & breakfast also has unrestricted, breath taking views of this beautiful lake. For those just wishing for an adventurous family break without any frights, Gartan are offering excellent optional extras such as Kayaking, Canadian Canoeing, Gorge Walking, Hill walking and Much More – where else would you have so much choice this Halloween Break?Packages are available to include activities, lunch and dinner. Tickets for the Devils Realm, B&B are also available. For further information call Gartan now – limited availability 074 91 37032 or email office@gartan.comPlease note, the Devils Realm event is not suitable for under 12’s, however younger folk can stay and take part in other activities. For more details contact Gartan OETC. NOW WOULD YOU LIKE TO WIN a family pass to the Devils Realm & overnight B&B for a family of 4? If so, simply email halloween@gartan.com with your full name, address, contact number and answering the following question: What sort of canoeing can you do at Gartan?Closing date for entries is Thursday October 22 at noon. Usual Donegal Daily rules apply. No cash alternative. Break must be taken this Halloween. COMPETITION: WIN A SPOOKY FAMILY OVERNIGHT HALLOWEEN STAY AT GARTAN OUTDOOR CENTRE was last modified: October 15th, 2015 by John2Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:competitiondevil’s realmdonegalgartanoutdoor centrelast_img read more

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