BaFin unconcerned by stress test failure of nearly dozen Pensionskassen

first_imgNearly a dozen German Pensionskassen have failed the stress set by local supervisor BaFin, the body has announcedHowever, the supervisor added that it was not concerned about the short-term risk-bearing capacity of Pensionskassen.Of the 146 Pensionskassen supervised by the German supervisor BaFin, 131 filed the results for the issued stress test.Some 11 Pensionskassen failed the test in 2013, compared to seven in the previous year. Only three of those Pensionskassen failed all scenarios and the supervisor added none of the eleven institutions were among the 20 largest in the sector in Germany.Additionally, five of those that failed the test are already closed for new entries. The BaFin added the underfunding level was “generally low” and the Pensionskassen concerned had already put in place measures to improve risk tolerance and achieve the necessary solvency levels – or will do so soon.As part of its internal prognosis on the impact of a continued low interest rate scenario, the German supervisor calculated the average net interest rate granted by Pensionskassen for 2013 at 4.3%, slightly below the 4.4% granted the year before.The supervisor said in its annual report: “With some Pensionskassen, BaFin had to raise awareness last year that in times in which capital gains will most likely continue to decline it is more important to strengthen buffers than to increase member payouts.”Overall, German Pensionskassen reported a solvency level of 134%, which was similar to that of the previous year and “generally speaking” fulfilled the solvency requirements, BaFin pointed out.“This obviously continues to ensure the short-term risk-bearing capacity in the sector,” the supervisor added.Based on projections, BaFin calculated an increase in contributions to Pensionskassen by €6.4bn in 2013, bringing the total number of assets managed in the sector to €131bn – although the increase was also aided by capital gains.However, the increase in contributions at 2.6% last year was less pronounced than in 2012 when it amounted to 5.9%.Regarding the 31 Pensionsfonds, the other major vehicle in the German occupational retirement landscape which is less strictly regulated in its investment and liability management, BaFin also noted a decrease in contributions from €831m in 2012 to €742m last year.“The fluctuations in contributions are mostly down to the fact that with a Pensionsfonds, depending on the contract, contributions are often made as one-off lump sum payments,” the supervisor explained.It added all Pensionsfonds passed the BaFin’s internal stress test and fully covered their liabilities.Assets managed by Pensionsfonds increased from €1.4bn to €1.6bn year-on-year.last_img read more

Rightlander “will significantly improve our affiliate compliance”, says Argyll director

first_img Submit StumbleUpon Share Share Argyll orders full compliance makeover with TruNarrative  August 17, 2020 Related Articles SBC Magazine Issue 10: Kaizen Gaming rebrand and focus for William Hill CEO August 25, 2020 Rightlander tackles ‘bad actors’ with new compliance tool August 12, 2020 Online operator Argyll Entertainment insists that its latest agreement with compliance tool Rightlander will significantly improve “affiliate compliance processes and procedures”.Argyll, which operates the RedZone, SportNation and GiveMeBet brands, will now use Rightlander’s advanced solutions in an attempt take its compliance procedures to the next level.  Rightlander will scan Argyll Entertainment affiliate websites, monitoring all activity which mentions or links to their brands for compliance related breaches, whilst also searching for certain events and conditions defined by the operator.Argyll Entertainment Commercial Director Philip Bell explained: “Affiliates are a significant source of new player traffic to our sportsbook brands, but we want to ensure they are engaging this traffic in a responsible and compliant manner.“Rightlander will significantly improve our affiliate compliance processes and procedures and ensure all of our partners are playing by the rules.”  Ian Sims, founder of Rightlander, added: “We are delighted to have joined forces with another big-name operator to help them improve their affiliate compliance initiatives.“Argyll Entertainment is among a growing number of gambling operators that are prioritising affiliate compliance and our tool is a great way for them to do this. It takes on much of the heavy lifting making it easy for operators to ensure affiliate compliance.”last_img read more

Near sold out crowd view Hunger Games – The Mockingjay, Part 1; movie to continue at Regent for 10 more nights

first_img Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comments Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. There are no comments posted yet. Be the first one! Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new comments Regent Theater premiere was heavily attended. This picture was taken about 15 minutes before showtime. by Tracy McCue, Sumner Newscow — Wellington Regent Theater manager Jerry Fike said it was “close” to being sold out for the premiere of the Hunger Games – Mockingjay Part 1 Thursday evening. A huge crowd was on hand to see the world premiere of the third installment of the Hunger Games. The local movie goers enjoyed the two-hour plus movie featuring Katniss and all her drama. Really? Almost dying for a cat?If you missed it, don’t worry. The movie will continue the next 10 nights at the Regent including showings at 7 p.m. on Friday, Saturday and Sunday.Follow us on Twitter.last_img read more