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Folksam Liv sees business growth slow after 59% surge in premiums

first_imgSwedish life and pensions provider Folksam Liv reported rapid growth in premiums in the first half of this year, rising 59% to SEK8.94bn (€939m) from SEK5.60bn in the same period last year, but warned that growth would stall in the second half.In its interim report for January to June 2015, Folksam said the continued strong growth was due to a high level of interest in its traditional life insurance, which it said carried good conditions for policyholders.Jens Henriksson, deputy director and group head of Folksam Liv, said: “Folksam Liv is expected to have lower growth in the rest of the year, compared with the first half.”This was because it had made changes to its traditional life insurance pension product and stopped selling the mortgage and insurance product Senior Capital, he said. On July 1, the guarantee level for the company’s traditional pensions was cut, with the return promise applying to only 85% of contributions after that date compared with 95% before.Folksam said most customers had accepted the new conditions and carried on with their pension savings, but that the changes were expected to result in a slowdown in growth in the autumn.Folksam Liv’s return for January to June fell to 3.7% from 5.3% in the same period last year.The solvency level rose to 162% at the end of June from 155% at the end of December, and total assets grew to SEK165.6bn from SEK156.2bn at the end of last year.Meanwhile, local government sector pension fund KPA Pension, which is 60% owned by Folksam and 40% owned by the Swedish Association of Local Authorities and Regions (SKL), reported a 4.0% return from January to June, down from 6.0% in the same period the year before.Premiums grew in the first half to SEK10.2bn from SEK8.8bn, the fund said.KPA Pension said it had won several pensions contracts in the first half, including contracts from municipalities of the city of Stockholm and of East Gotland.Assets under management grew to SEK134.6bn at the end of June from SEK116.7bn.last_img read more

Exciting day of U21 divisional hurling finals

first_imgIn the Mid the U21A hurling crown was claimed by Thurles Sarsfields, who defeated Loughmore-Castleiney 1-16 to 1-8.Upperchurch-Drombane beat Moyne/Templetuohy 4-7 to 1-10 in the division’s U21B hurling final.In the West the U21A hurling final between Cappawhite/Treacys and Clonoutly/Rossmore was postponed but the B hurling decider did go ahead – Lattin-Cullen Gaels beat Galtee Rovers/Emly 1-11 to 0-10.last_img

Florida Man Charged After Forcing Sex, Unknown Substances on Woman

first_imgA North Florida man is behind bars on sexual battery charges, following an incident that allegedly occurred last January.Detectives arrested Efthimios Michael Zachary Mikedis on Wednesday.According to deputies, he offered to give the victim a ride from Orange County to her aunt’s home in Marion County.When Mikedis arrived to pick her up, the victim noticed a gun in his waistband. Mikedis was in the car with his mother, Shannon James, and another man named Robert McDaniel.The victim reported to deputies that she told Mikedis she no longer wanted to go with them, but Mikedis told her she had to.After she entered the van, Mikedis forced an unknown substance into her mouth.He then escorted the woman to a camper behind a residence, where she began to lose consciousness.Photo courtesy: Marion County Sheriff’s OfficeDeputies say the woman recalls being sexually battered by both Mikedis and McDaniel.After she woke up, she tried to call an Uber, but Mikedis forced another unknown substance into her mouth.She then began to hallucinate. The woman told detectives that Mikedis also burned her hair with a cigarette, dragged her by the hair, and put scissors to her throat.The woman was eventually taken to a Winn-Dixie parking lot by James and was forced out of the vehicle.Efthimios Mikedis is charged with one count of sexual battery.Meanwhile, detectives are still searching for McDaniel.last_img read more