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BACB pension scheme transacts first open-tendered underwritten buy-in

first_imgThe British Arab Commercial Bank (BACB) Pension Scheme has entered into a £12m (€14.5m) insurance contract with Partnership, in the UK’s first tendered medically underwritten buy-in.The £12m deal covered all non-insured pensioners in the £60m scheme and was arranged via a third-party information collector.MorganAsh collected the medical information from the scheme’s members via a questionnaire. It then passed on the results to all interested insurers to formulate their bids.Insurers responded to the tender based on the identical medical information, resulting in a more competitive price for the trustees to transact. This differed from the process seen thus far, where deals are completed after a pension scheme selects an insurer upfront.JLT Employee Benefits (EB) had worked with insurers and MorganAsh to develop the process for its clients.Graham Wardle of BESTrustees, who chairs the BACB scheme, said the board received a 95% response rate from members, allowing the trustees to obtain an accurate price for the exercise.“We were able to achieve a competitive price by selecting Partnership Assurance, and we are pleased with how streamlined the process was,” he said.“The continual de-risking of our pension scheme is an important goal and ensures the long-term security for our members.”Buyout consultant at JLT EB, David Barratt, said the new process designed by the consultant could be important for schemes looking for effective and efficient de-risking.“We are continually looking to improve efficiencies for our clients and are delighted to have brought this new process to the market,” he said.Partnership Assurance director of corporate partnerships, Will Hale, said the tendered deal represented a landmark in the underwritten bulk annuity market.“We were happy to support JLT Employee Benefits develop this new market process,” he said.“A common approach to the collection of member information will ensure schemes wishing to de-risk through a choice of insurers, and they can be confident of attaining a competitive price.”last_img read more

Update on the latest sports

first_imgThe seven were among the former free agents the clubs had to make decisions on by Sunday, five days ahead of opening day.New York Mets catcher René Rivera and Colorado catcher Drew Butera were given $100,000 retention bonuses this weekend, allowing those teams to keep them with minor league contracts.Among those released ahead of the deadline were Philadelphia pitcher Francisco Liriano and infielder Logan Forsythe, Mets first baseman Matt Adams and Washington reliever Fernando Abad.Released players remain eligible to re-sign with the teams.In other major league news: Share This StoryFacebookTwitteremailPrintLinkedinRedditGOLF-MEMORIALRahm in command at Muirfield VillageDUBLIN, Ohio (AP) — Jon Rahm will move to the top of world golf rankings after a convincing victory at the Memorial. July 19, 2020 Update on the latest sports NASCAR-TEXASChildress gets 1-2 sweep at TexasFORT WORTH, Texas (AP) — Richard Childress Racing had a successful day at Texas Motor Speedway.Austin Dillon stayed in front after a restart with two laps to go and beat rookie Tyler Reddick to the checkered flag. That gave Childress a 1-2 NASCAR Cup finish and quite a show for spectators spread out in the stands.Dillon raced to his third career win and first since Daytona at the start of the 2018 season. He stayed in front on three late restarts, the first after an incident with 29 laps left that shuffled the fast car of Ryan Blaney to a lap back. Bass said he spoke with general manager Ross Atkins and emphasized that players prefer a big league stadium. The veteran reliever added that players are willing to share a home venue with another team and make other sacrifices.Canada denied the Blue Jays’ request to play at Rogers Centre because the regular-season schedule would require frequent travel back and forth from the United States, where COVID-19 cases are surging.The team’s minor league options are its training facility in Dunedin (duh-NEE’-dehn), Florida, or its Triple-A affiliate stadium in Buffalo.NFL-TRAINING CAMPSNFL players urge league to address health concerns Rahm closed with a 3-over 75 for a 9-under total, three strokes ahead of second-round co-leader Ryan Palmer at Muirfield Village. The 25-year-old Spaniard was leading by seven shots on Sunday before a double-bogey on the par-5 11th cut into his advantage. Rahm later received a two-stroke penalty after being initially credited with a five-stroke win.To become the No. 1 golfer, Rahm had to win the tournament and hope Rory McIlroy finished no better than third. McIlroy tied for 32nd.Rahm joins Seve Ballesteros as the only Spaniards to reach No. 1.Tiger Woods carded a 76 for the second time in three days, leaving him at plus-6. GOLF-NICKLAUS-CORONAVIRUS Joey Logano finished third, with Kyle Busch coming in fourth a day after he finished ahead of the field in two races. Series points leader Kevin Harvick was fifth.NHL-PENGUINS-CROSBYSidney Crosby out with health issuePITTSBURGH (AP) — Pittsburgh Penguins star Sidney Crosby is dealing with an unspecified health issue. Crosby left a team scrimmage early on Saturday and then was held out of practice a day later. Neither head coach Mike Sullivan nor assistant coach Mark Recchi (REH’-kee) offered any detail on what might be ailing Crosby. Some drivers took a knee and others again did not in disorganized scenes before Sunday’s race. As in the previous two races this season, all drivers were supposed to gather before the national anthem to stand while wearing “End Racism” T-shirts. Hamilton and others like his Mercedes teammate Valtteri Bottas and Ferrari’s Sebastian Vettel took a knee but others appeared to be hurriedly arriving late and not even in position. Nicklaus, wife recovered from coronavirusDUBLIN, Ohio (AP) — Jack Nicklaus says he’s recovered from a health scare.The golf legend revealed during Sunday’s CBS telecast of the Memorial that he and his wife tested positive for the coronavirus at the onset of the pandemic.He said his wife had no COVID-19 symptoms, while Nicklaus had a sore throat and a cough. Nicklaus said they were home in North Palm Beach, Florida, from March 13 “until we were done with it” on about April 20.Nicklaus and his wife, Barbara, turned 80 a month apart at the start of the year. — Nationals outfielder Victor Robles took part in his first workout of the summer following a two-week quarantine. Robles had some at-bats, ran the bases and says he should be ready to start opening day.— The Tigers have announced that Matthew Boyd will start the season opener against Cincinnati. Boyd had been slated to start the opener in March and now will get the chance a few months later. VIRUS OUTBREAK-MLB-BLUE JAYSBlue Jays looking at alternate sites for home gamesTORONTO (AP) — The Toronto Blue Jays want to play their home games in a major league ballpark this season. That’s according to pitcher Anthony Bass, who says the front office is working to find a major league ballpark for the team. UNDATED (AP) — NFL players are publicly pleading with the league to address several health and safety concerns on the eve of training camp. The league informed teams on Saturday that training camps will open on time even though discussions with the players’ union regarding testing for the coronavirus and other health and safety protocols are ongoing. Rookies for Houston and Kansas City are set to report Monday and rookies for other teams are due on Tuesday. Players for all teams are scheduled to report by July 28. Many prominent players expressed their thoughts in a social media blitz Sunday.Seahawks quarterback Russell Wilson, whose wife is pregnant, wrote: “We want to play football but we also want to protect our loved ones.”And Saints quarterback Drew Brees tweeted, “If the NFL doesn’t do their part to keep players healthy there is no football in 2020.” He wrote, “We need Football! We need sports! We need hope!” Associated Press HUNGARIAN GRAND PRIXHamilton wins 8th Hungarian GP to equal Schumacher F1 recordBUDAPEST, Hungary (AP) — Formula One champion Lewis Hamilton has won the Hungarian Grand Prix for the eighth time to equal Michael Schumacher’s single-venue record and take the championship lead. Hamilton’s latest victory from pole position was as comfortable as the nearly 9-second margin over Max Verstappen suggested. The British driver’s 86th GP win moved him just five behind Schumacher’s F1 record of 91. Hamilton is also demanding more support from Formula One’s governing body and urged other drivers to make more of an effort in the fight against racism. The Penguins have about two weeks to get ready to face Montreal in the qualifying round of the playoffs.MLB-FREE AGENTSWalker, Volquez, Holland, Morrison make opening-day rostersUNDATED (AP) — Philadelphia second baseman Neil Walker, Texas pitcher Edinson Vólquez and Pittsburgh pitcher Derek Holland have made opening-day rosters.So have Milwaukee first baseman Logan Morrison, Cincinnati pitcher Nate Jones, Tampa Bay pitcher Aaron Loup and New York Yankees pitcher Luis Avilán.last_img read more

Alistair is the first Senior Series champion

first_img However, he had a few anxious moment before his win was confirmed because he’d failed to score on his last hole. “That gave me panic stations!” he said. “To come here and play in a final at the home of England Golf, and to play well and win, is what dreams are made of.”  Click here for full results from the Senior Series final  Image copyright Leaderboard Photography Booth is a big fan of the Senior Series, which has offered one-day qualifying events across the country, with the option of a second competition day for members of the England Golf Captains programme. The Series has also had an order of merit attached with the top players also booking places in the final, which was played as part of England Golf Week, an annual celebration of handicap golf.  16 Aug 2017 Alistair is the first Senior Series champion He also tried to qualify for the Captains’ final – which will be played tomorrow – but missed out. Booth, the chairman of Frilford Heath Golf Club, was centenary captain there in 2008.center_img His other golfing interests include a seat on the England Golf Board and in addition he is President of the BB&O (Berks, Bucks & Oxon) Golf Union and the independent Chairman of the Greenkeepers’ Training Committee. Tags: Alistair Booth, Golf Week, Senior Series Frilford Heath’s Alistair Booth is the first winner of the new England Golf Senior Series, claiming the title by the narrowest of margins.  He was in a three-way tie after scoring 36 points on the Bracken course at Woodhall Spa, but beat Gillian Curley (Northamptonshire County) and Alan Wilson (Romsey) on countback.  The six-handicapper is a keen competitor but is also heavily involved in golf administration and added: “I don’t play as much as I would like and I should practice far more than I do, so my golf blows hot and cold, but today it blew hot.” He set up his score with 20 points over his first nine holes, starting from the 10th.last_img read more

Selkirk continues to stockpile players, adds Grandview Steelers sniper Kyle Golz

first_imgThe Selkirk College Saints Men’s Hockey team continues to stock pile players for the upcoming B.C. Intercollegiate Hockey League season as the school inked forward Kyle Golz (Surrey, B.C.) to a commitment letter for the 2012-13 campaign. Golz joins the Saints from the Pacific International Junior Hockey League’s Grandview Steelers, where he finished the 2011/12 season as the team’s top goal scorer.”Kyle brings experience and character to our line-up,” says Saints head coach Jeff Dubois. “He has a good shot, good size, and he’s played at a high level. I expect him to adjust quickly to the college game and take advantage of the opportunity to play a significant role for us in his first BCIHL season.”Golz scored 17 goals and totalled 28 points on the season despite missing 12 games to injury, and added 94 penalty minutes.In two-plus PIJHL seasons split between the Steelers and Aldergrove Kodiaks, Golz scored 32 goals and picked up 21 assists in 66 games. The 6-foot-2 centre has also spent time in the WHL and BCHL, having split the 2008/09 season between the Prince Albert Raiders and the Quesnel Millionaires. “I’m looking forward to joining the Saints and becoming a part of a growing hockey program,” says Golz, who describes himself as a skilled, strong skating power forward.”I’m excited because it looks like were going to have a solid team and I know a number of the guys who have been recruited for this season. I’d like to step in, be a top player and help the team win its first BCIHL championship.” Golz is the seventh forward and ninth player overall to commit to the Saints for the 2012/13 season. He joins fellow forwards Thomas Hardy (Aldergrove, PIJHL), Jackson Garrett (Comox Valley, VIJHL), Cole Thomson (Kerry Park, VIJHL), Scott Swiston (Creston, KIJHL), Matthew Luongo (Aldergrove, PIJHL) and Brodie Gibbon (Oceanside, VIJHL), defenceman Dylan Smith (Richmond, PIJHL) and goaltender Stephen Wolff (Oceanside, VIJHL).last_img read more