The pension fund has insured some £8.2bn of liabilities through buy-in transactions since 2014. It has struck five such deals with Scottish Widows, and three with Prudential. In addition to the bulk annuity policies, it also has a £2bn liability-driven investment portfolio managed by BlackRock.According to its most recent annual report, in March last year it made the decision to liquidate all its return-seeking assets, the allocation to which had by then been reduced to 3% of total fund assets. As as at the end of March this year it only had £45m of such investments left, representing 0.4% of assets.Aon has estimated that £12.7bn of risk transfer deals were placed in the first half of this year, noting that this used to be the typical market size for the whole year before the strong growth in the market in 2018-2019, fuelled mainly by some large full scheme buyouts.2020, in contrast, has so far been dominated by pensioner transactions, it noted.Yesterday a £930m buy-in for Littlewoods pension scheme with Rothesay Life was announced. ICI Pension Fund is the pension fund for the former Imperial Chemicals Industries, taken over by Akzo Nobel in 2008.The trustee was advised on the transaction by LCP and Allen & Overy.To read the digital edition of IPE’s latest magazine click here. ICI Pension Fund completed a £70m (€76m) buy-in with Legal & General Assurance Society in May, its 17th such de-risking deal.With £10.3bn in assets and more than 85% of its membership comprising pensioners, the pension fund is one of the largest and most mature defined benefit schemes in the UK.The buy-in in May was its ninth with Legal & General, with whom it established an innovative umbrella contract in 2014 in connection with a then record-breaking package of liability insurance. “This latest transaction demonstrates the value of [that] contract […] and highlights what can be achieved by trustees with thorough preparation, the right experienced advisors and a clear decision making framework,” said Heath Mottram, CEO, ICI Pension Fund.
After one-week break, because of BiH national team match, on Saturday, the 19th round of BiH Football Premier League will continue and will offer a very good sports Saturday.Eight matches are going to played. Željezničar will play against Gošk, Zvijezda Gradačac against Slavija, Borac against Zrinjski; Travnik against Radnik, Široki Brijeg against Čelik, Leotar against Rudar Prijedor, Velež against Gradina and Sarajevo against Olimpic.The table score of BiH Premier League:1. ŽELJEZNIČAR 412. SARAJEVO 373. OLIMPIC 334. ŠIROKI B. 315. BORAC 316. SLAVIJA 297. ZRINJSKI 298. ČELIK 249. RADNIK 2410. LEOTAR 2311. RUDAR 2112. VELEŽ 2013. ZVIJEZDA 1814. TRAVNIK 1715. GOŠK 1616. GRADINA 14
Being the Daytona 500 winner comes with a whirlwind media tour. For Kevin Harvick, that has meant appearances on “The Late Show with David Letterman,” “Live with Regis and Kelly,” California Speedway Day in L.A. at Hollywood and Highland, “Jimmy Kimmel Live,” and radio spots with ESPN’s Dan Patrick in Bristol, Conn., Steve Mason and John Ireland on KSPN 710-AM, and Rick Dees on KMVN 93.9-FM in Los Angeles. “They’ve been very organized with everything, making things go really smoothly,” Harvick said. “We’ve been able to rest at night and have somewhere nice to sleep, too. It’s really not been much worse than being at home.” He arrived Wednesday in LosAngeles, but won’t see California Speedway, the site of this weekend’s NASCAR races, until this afternoon. When he gets there, things won’t settle down. Harvick will run in all three races at California Speedway this weekend. He will be in the NASCAR Craftsman Truck Series race Friday night, the Busch Series race Saturday and the Nextel Cup Series race Sunday. Once he gets on the race track, it might be his first chance for a little peace and quiet – so to speak – since winning the Daytona 500. “Still going to race all three races,” said Harvick, driver of the No. 29 Chevrolet Monte Carlo for Richard Childress Racing in the Cup Series. “We planned on doing that from the beginning. Just trying to get the truck program started off on the right foot. Be in the Busch car this week, too. When you’re in the car at the track, you can kind of get away from the rest of it.” In addition to winning the Daytona 500, Harvick also won the Busch Series season opener at Daytona International Speedway in the Richard Childress Racing No. 21 Chevrolet. Driving for Childress, Harvick won last year’s Busch Series championship – in dominating fashion – but has decided not to race the entire Busch Series schedule this year. He is splitting his time in the Busch Series between his own Kevin Harvick Inc. car and the one for Richard Childress Racing. For the California Speedway Busch Series race, Harvick will be in his own team’s No. 33 Chevrolet Monte Carlo. Tony Stewart drove the No. 33 Chevy to an eighth-place finish in the Daytona race. This is the first of eight Busch Series races Harvick plans to run in his own No. 33 entry. Harvick will also be racing one of his own trucks, the No. 2 Chevrolet Silverado, in the Truck Series race. “I am doing four races in a KHI truck this year,” Harvick said. “Clint (Bowyer) will drive in four truck races for me this year and Cale Gale will drive in three more.” With successful teams in both the Busch and Truck Series, Harvick said he and his wife, DeLana, are not entertaining any desire to move into the Cup. “We don’t have any plans right now,” Harvick said. “DeLana and I are really trying to get our arms around what we do need to do, don’t need to do, in the Busch and Truck Series, really try to focus on that.” Seeing his Cup boss run his three-car team, Harvick said he has a good understanding of how much effort and commitment it takes to run a Cup team. “We can still enjoy being the driver and being a team owner with the Busch and Truck,” Harvick said, “where I don’t think we could do both if we owned the Cup car.” 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!