Varma’s investments yielded a return of 4.7 (–0.3) per cent, i.e. EUR 2.0 billion, in January–June. The market value of the investment portfolio reached a new record of EUR 45.0 (41.2) billion.
The total return on Veritas’ investments was 3.9 per cent in April–June and 7.3 per cent in the first half of 2021. The good investment result strengthened Veritas’ solvency, which increased to 131.5 per cent at the end of June. Veritas’ solvency capital surpassed one billion euros for the first time. Veritas attracted a record number of new customers in the second quarter.
The pandemic and the subsequent stimulus packages set the pace for the investment year 2020. The return on Veritas’ investments was 6.8 per cent in the fourth quarter of 2020, bringing the investment return for the whole year to 5.6 per cent. The good investment result strengthened Veritas’ solvency, which increased by the end of the year to 128.8 per cent.
The total return on Veritas’ investments was 8.3 per cent in January–September. Veritas’ equity investments performed best during the period of January–September, with a return of 17.2 per cent. The return on real estate investments was 4.1 per cent, fixed income investments 1.3 per cent and other investments 5.9 per cent.
The interim report summarizes Veritas' performance from January to March 2021. It notes that investments returned 3.3% over this period, strengthening the solvency ratio to 129.6%. Veritas also published its Corporate Responsibility Report on April 19th, detailing its responsible investment practices and goals of achieving a carbon neutral investment portfolio by 2035.
Elo Mutual Insurance Company: Pension assets grew at a record pace – return E...Työeläkeyhtiö Elo
The global economy recovered strongly in 2021. Growth was stronger than it had been in decades. This was also reflected in Elo’s investment income. The return on Elo’s investments was 14.0% (3.6%). The market value of Elo’s investments was EUR 29.4 (25.9) billion at the end of 2021.
Elo Mutual Insurance Company Interim Report 30.9.2021 presentationTyöeläkeyhtiö Elo
The interim report provides key financial information for Elo Mutual Pension Insurance Company for the period of January to September 2021. Some highlights include:
- Investment assets totaled €28.3 billion with a 9.4% return and 6.7% 10-year nominal return.
- Premiums written were €3 billion and pensions/benefits paid totaled €3 billion.
- Customer satisfaction improved with expanded online services and phone availability.
- The solvency ratio was 126.9% and solvency capital increased to €6.1 billion.
Elo Mutual Pension Insurance Company - Interim report 1 Januari - 31 March 2021Työeläkeyhtiö Elo
In January–March, the return on Elo’s investments was 3.9 (-9.5) per cent, or EUR 996.4 million. The market value of Elo’s investments at the end of March was EUR 26.8 billion. The solvency ratio was 125.0 per cent and solvency capital was 1.5 times the solvency limit.
Elo Mutual Insurance Company Interim Report 30.6.2021Työeläkeyhtiö Elo
This interim report provides key figures and information for Elo Mutual Pension Insurance Company for the period of January 1 to June 30, 2021. Some of the key highlights include:
- Investment assets totaled 27.8 billion euros with a 10-year nominal return of 6.0%.
- Premiums written totaled 1.98 billion euros while pensions and other benefits paid totaled 2.01 billion euros.
- The solvency ratio was 126.6% and solvency capital increased to 5.96 billion euros.
- Investments generated a return of 7.8% for the period, with listed equities and private equity investments performing strongly.
The total return on Veritas’ investments was 3.9 per cent in April–June and 7.3 per cent in the first half of 2021. The good investment result strengthened Veritas’ solvency, which increased to 131.5 per cent at the end of June. Veritas’ solvency capital surpassed one billion euros for the first time. Veritas attracted a record number of new customers in the second quarter.
The pandemic and the subsequent stimulus packages set the pace for the investment year 2020. The return on Veritas’ investments was 6.8 per cent in the fourth quarter of 2020, bringing the investment return for the whole year to 5.6 per cent. The good investment result strengthened Veritas’ solvency, which increased by the end of the year to 128.8 per cent.
The total return on Veritas’ investments was 8.3 per cent in January–September. Veritas’ equity investments performed best during the period of January–September, with a return of 17.2 per cent. The return on real estate investments was 4.1 per cent, fixed income investments 1.3 per cent and other investments 5.9 per cent.
The interim report summarizes Veritas' performance from January to March 2021. It notes that investments returned 3.3% over this period, strengthening the solvency ratio to 129.6%. Veritas also published its Corporate Responsibility Report on April 19th, detailing its responsible investment practices and goals of achieving a carbon neutral investment portfolio by 2035.
Elo Mutual Insurance Company: Pension assets grew at a record pace – return E...Työeläkeyhtiö Elo
The global economy recovered strongly in 2021. Growth was stronger than it had been in decades. This was also reflected in Elo’s investment income. The return on Elo’s investments was 14.0% (3.6%). The market value of Elo’s investments was EUR 29.4 (25.9) billion at the end of 2021.
Elo Mutual Insurance Company Interim Report 30.9.2021 presentationTyöeläkeyhtiö Elo
The interim report provides key financial information for Elo Mutual Pension Insurance Company for the period of January to September 2021. Some highlights include:
- Investment assets totaled €28.3 billion with a 9.4% return and 6.7% 10-year nominal return.
- Premiums written were €3 billion and pensions/benefits paid totaled €3 billion.
- Customer satisfaction improved with expanded online services and phone availability.
- The solvency ratio was 126.9% and solvency capital increased to €6.1 billion.
Elo Mutual Pension Insurance Company - Interim report 1 Januari - 31 March 2021Työeläkeyhtiö Elo
In January–March, the return on Elo’s investments was 3.9 (-9.5) per cent, or EUR 996.4 million. The market value of Elo’s investments at the end of March was EUR 26.8 billion. The solvency ratio was 125.0 per cent and solvency capital was 1.5 times the solvency limit.
Elo Mutual Insurance Company Interim Report 30.6.2021Työeläkeyhtiö Elo
This interim report provides key figures and information for Elo Mutual Pension Insurance Company for the period of January 1 to June 30, 2021. Some of the key highlights include:
- Investment assets totaled 27.8 billion euros with a 10-year nominal return of 6.0%.
- Premiums written totaled 1.98 billion euros while pensions and other benefits paid totaled 2.01 billion euros.
- The solvency ratio was 126.6% and solvency capital increased to 5.96 billion euros.
- Investments generated a return of 7.8% for the period, with listed equities and private equity investments performing strongly.
The document summarizes polio case data from 2005 to 2013 in India. It shows that the number of wild polio cases declined significantly from 874 in 2007 to just 1 case in 2011 and no cases reported in 2012. The last polio cases reported in India's major states (Uttar Pradesh, Bihar, West Bengal) were in 2010-2011. Globally in 2012, 222 polio cases were reported with the majority in Nigeria, Pakistan, and Afghanistan. Surveillance of acute flaccid paralysis cases in India shows no confirmed polio cases and a large number under investigation in 2012-2013.
Veritas Pension Insurance succeeded in attaining excellent investment returns in 2021. The return from the investments during the year amounted to 12.6 per cent, i.e., close to EUR 0.5 billion. Equity investments generated 25.2 per cent, real estate investments 9.5 per cent, fixed-income investments 1.6 per cent, and other investments 7.4 per cent. The good investment return strengthened Veritas solvency.
SpareBank 1 Gruppen reported strong financial results for 2017, with record profits for its life insurance subsidiary SpareBank 1 Forsikring AS.
Key highlights for 2017 include:
- Pre-tax operating profit of NOK 2.21 billion, up 10% from 2016.
- Record profit of NOK 836 million for SpareBank 1 Forsikring AS, the life insurance subsidiary, driven by strong premium growth and financial income.
- Continued strong insurance profitability and financial returns for SpareBank 1 Skadeforsikring AS, the non-life insurance subsidiary, with a pre-tax profit of NOK 1.31 billion.
- Higher operating
Venture capital fundraising in 2007 reached its highest level since 2001, with 235 funds raising $34.7 billion. This 9.4% increase from 2006 continued the trend of annual fundraising gains, driven by capital-intensive sectors like life sciences and clean technology. While approaching 2001 levels, the 2007 funds were more diversified across early, balanced, later, and expansion stages, versus the early focus in 2001. New funds accounted for 55 of the 235 total, with a ratio of follow-on to new funds of approximately 3-to-1.
- The company reported a 13.7% increase in net profit for the first half of 2014 compared to the same period in 2013. Equity increased 4.6% while funding decreased 18%.
- Net interest income increased 8.5% driven primarily by a 37% increase in trade receivables. Net profit from financial operations rose 15.5% and net provisions decreased 20%.
- The loan portfolio grew 10.5% with trade receivables increasing 11.5%. Credit quality improved with the net NPL to total loans ratio falling to 1.8% from 2.6% at the end of 2013.
The return on Varma’s investments was 13.5 per cent, i.e. EUR 6.7 billion, in January–September 2021. Private equity investments yielded nearly 40 per cent and hedge funds more than 11 per cent.
The document provides a corporate fact sheet for SWY:TSX as of April 30, 2012, summarizing key information such as the number of common shares and options/warrants outstanding, cash and debt positions, board of directors and officers, auditors, and corporate details. It discloses that the company entered a $20 million debt facility in May 2012 and issued 15 million warrants exercisable at $1.21 per share until 2017 to the lenders.
We demand a reasonable Icesave agreement to avoid national bankruptcyInDefence
The document discusses Iceland's Icesave obligation and argues that the current agreement puts an unnecessarily heavy burden on Iceland. It compares the agreement to other examples that assume a seven-year grace period and 15-year maturity, such as Bradford & Bingley, which used floating LIBOR rates. The document also notes that unlike typical debts, there are no assets behind the Icesave obligation for Iceland to recover, and servicing it will require foreign exchange draws on Iceland's reserves for 15-20 years.
This document summarizes the financial highlights of Jamuna Bank Limited for years 2014-2015 and targets for 2016. Some key points:
- Total deposits grew 2.89% to 1,17,794.90 crore in 2015. Core deposits grew 17.17% and loans and advances grew 12.03%.
- Import business grew 17.33% in 2015 while export business grew 3.22% and guarantee business grew 110.38%.
- Operating profit grew 18.73% for the bank and 14.73% when consolidated. Total capital grew 14.73% and required CRAR was maintained above 10%.
- Non-performing loans were 5.37% of total loans
Venture capital fundraising strengthened in the second quarter of 2008, with 71 funds raising $9.1 billion, a 3% increase from the same period in 2007. While the number of funds decreased by 14%, the total dollar amount raised was up. Follow-on funds outnumbered new funds by approximately 2 to 1. The top three largest funds raised were Lightspeed Venture Partners VIII ($800 million), Foundation Capital VI ($750 million), and Kleiner Perkins Caufield & Byers XIII ($700 million).
The document is a balloon payment loan calculator that shows a borrower taking out a $10,000 loan at 9% annual interest rate over 36 months. It calculates that the borrower will make 12 monthly payments of $318 before paying a balloon payment of $7,012.86 after 12 months, for a total payment of $10,828.86 and $828.86 in total interest paid. It includes an amortization schedule showing the monthly breakdown of principal and interest payments over the life of the loan.
The Board of Directors of Banca IFIS met today under the chairmanship of Sebastien von Furstenberg and approved the results for the first half of 2013.
The first half 1 January-30 June 2013
Net banking income increasing by 22,7% to 132 million Euro.
Net profit from financial activities increasing by 14% to 105 million Euro.
Cost/income ratio further improving, down to 28,1% from 32,2%.
Profit for the period increasing by 16,7% to over 44 million Euro.
Turnover for the first six months: 2.509 million Euro.
Retail funding exceeded 3,9 billion Euro.
Non-performing loans/total loans in the trade receivables sector: 3,5%, compared to 4,3% at the end of 2012 and 3,7% at 30 June 2012.
70 new employees taken on in the first six months of 2013.
Solvency: 13,9%.
Core Tier 1: 14,2%.
The second quarter 1 April-30 June 2013
Net banking income amounting to 65 million Euro (+18,2%).
Net profit from financial activities increasing by 14,0% to 52 million Euro.
Net profit amounting to 21,6 million Euro (+19,6%).
The document summarizes budgeted receipts for the 2010-2011 fiscal year through April for the City of Gautier's general fund, water and sewer utility, and solid waste fund. It shows that for the general fund, 60% of the annual budget has been received to date, leaving $3.7 million in anticipated receipts. For the water and sewer utility, 52.4% of the annual budget has been received with $3.2 million remaining. The solid waste fund has received 51.6% of its annual budget with nearly $677,000 left in anticipated receipts.
- The company's reserves and surpluses increased by 45.74% due to higher profits in 2012 compared to 2011. The company's working capital also increased substantially by 72.23%.
- While secured and unsecured loans decreased, investments also decreased substantially to repay some of the loans. Liquid assets like cash and debtors increased significantly.
- Inventory levels increased possibly due to lower demand, but the company's inventory turnover ratio remains high, indicating efficient inventory management.
- Key financial ratios like debt-equity, earnings per share and price-earnings all improved in 2012 compared to previous years, signaling stronger financial performance.
This document summarizes the financial results of Banca Ifis Group for the first half of 2015. It shows a significant increase in net profit of 161.3% compared to the first half of 2014. Total equity increased by 19.7% while funding decreased by 16.1%. Key performance indicators like cost of credit quality and book value per share improved compared to the same period last year. Overall revenues and net profit increased substantially, demonstrating strong financial performance for the first six months of 2015.
This document provides an overview and outlook for Veolia Environnement for 2008 from its Investor Day presentation on October 22nd, 2008. It estimates operating cash flow for 2008 will be between €4.1-4.2 billion, down from initial estimates due to economic slowdown impacts in areas like Germany, Italy, waste management, and deferred projects. It also discusses plans to reduce net investments to €3.9 billion in 2008 while accelerating €1 billion in disposals. Finally, it summarizes Veolia's strong financial stability with secure debt profile, liquidity position, and financial ratios within credit rating agency guidance.
Danaher Corporation announced record results for its third quarter and first nine months of 2005. Net earnings for Q3 2005 were $229 million, up 14% from Q3 2004. Sales for Q3 2005 were $1.966 billion, an increase of 12.5% over Q3 2004. For the first nine months of 2005, net earnings were $646 million, up 22.5% compared to the same period in 2004. Sales for the first nine months were $5.721 billion, up 16.5% year-over-year. The CEO attributed record results to growth from existing businesses and acquisitions.
Venture Capital Fundraising Activity - Q1 2008 mensa25
Venture capital fundraising activity slowed in the first quarter of 2008, with 57 funds raising $6.3 billion, a 31% decrease in the number of funds raised compared to the first quarter of 2007. Follow-on funds dominated fundraising, with 52 follow-on funds raised compared to just 5 new funds. The ratio of follow-on to new funds was approximately 10-to-1 for the quarter, compared to less than 3-to-1 in the first quarter of 2007. The largest funds raised focused on balanced stage investments in life sciences and clean technologies.
The document summarizes the annual general meeting (AGM) of the UK chapter of the International Institute for Business Analysis for the 2011 fiscal year. It provides an overview of the chapter's finances, achievements in 2010, and plans for 2011. The chapter saw increased revenues and membership in 2010 and a net profit of nearly £10,000. Plans for 2011 include ensuring a successful conference, establishing new branches, defining the chapter's purpose, and improving membership processes.
The market value of Varma’s investments rose to EUR 45.4 (42.4) billion in January–September. The investment portfolio generated a return of 6.2 (3.1) per cent or EUR 2.7 billion, and the company’s solvency strengthened to EUR 11.4 (10.1) billion.
The document summarizes polio case data from 2005 to 2013 in India. It shows that the number of wild polio cases declined significantly from 874 in 2007 to just 1 case in 2011 and no cases reported in 2012. The last polio cases reported in India's major states (Uttar Pradesh, Bihar, West Bengal) were in 2010-2011. Globally in 2012, 222 polio cases were reported with the majority in Nigeria, Pakistan, and Afghanistan. Surveillance of acute flaccid paralysis cases in India shows no confirmed polio cases and a large number under investigation in 2012-2013.
Veritas Pension Insurance succeeded in attaining excellent investment returns in 2021. The return from the investments during the year amounted to 12.6 per cent, i.e., close to EUR 0.5 billion. Equity investments generated 25.2 per cent, real estate investments 9.5 per cent, fixed-income investments 1.6 per cent, and other investments 7.4 per cent. The good investment return strengthened Veritas solvency.
SpareBank 1 Gruppen reported strong financial results for 2017, with record profits for its life insurance subsidiary SpareBank 1 Forsikring AS.
Key highlights for 2017 include:
- Pre-tax operating profit of NOK 2.21 billion, up 10% from 2016.
- Record profit of NOK 836 million for SpareBank 1 Forsikring AS, the life insurance subsidiary, driven by strong premium growth and financial income.
- Continued strong insurance profitability and financial returns for SpareBank 1 Skadeforsikring AS, the non-life insurance subsidiary, with a pre-tax profit of NOK 1.31 billion.
- Higher operating
Venture capital fundraising in 2007 reached its highest level since 2001, with 235 funds raising $34.7 billion. This 9.4% increase from 2006 continued the trend of annual fundraising gains, driven by capital-intensive sectors like life sciences and clean technology. While approaching 2001 levels, the 2007 funds were more diversified across early, balanced, later, and expansion stages, versus the early focus in 2001. New funds accounted for 55 of the 235 total, with a ratio of follow-on to new funds of approximately 3-to-1.
- The company reported a 13.7% increase in net profit for the first half of 2014 compared to the same period in 2013. Equity increased 4.6% while funding decreased 18%.
- Net interest income increased 8.5% driven primarily by a 37% increase in trade receivables. Net profit from financial operations rose 15.5% and net provisions decreased 20%.
- The loan portfolio grew 10.5% with trade receivables increasing 11.5%. Credit quality improved with the net NPL to total loans ratio falling to 1.8% from 2.6% at the end of 2013.
The return on Varma’s investments was 13.5 per cent, i.e. EUR 6.7 billion, in January–September 2021. Private equity investments yielded nearly 40 per cent and hedge funds more than 11 per cent.
The document provides a corporate fact sheet for SWY:TSX as of April 30, 2012, summarizing key information such as the number of common shares and options/warrants outstanding, cash and debt positions, board of directors and officers, auditors, and corporate details. It discloses that the company entered a $20 million debt facility in May 2012 and issued 15 million warrants exercisable at $1.21 per share until 2017 to the lenders.
We demand a reasonable Icesave agreement to avoid national bankruptcyInDefence
The document discusses Iceland's Icesave obligation and argues that the current agreement puts an unnecessarily heavy burden on Iceland. It compares the agreement to other examples that assume a seven-year grace period and 15-year maturity, such as Bradford & Bingley, which used floating LIBOR rates. The document also notes that unlike typical debts, there are no assets behind the Icesave obligation for Iceland to recover, and servicing it will require foreign exchange draws on Iceland's reserves for 15-20 years.
This document summarizes the financial highlights of Jamuna Bank Limited for years 2014-2015 and targets for 2016. Some key points:
- Total deposits grew 2.89% to 1,17,794.90 crore in 2015. Core deposits grew 17.17% and loans and advances grew 12.03%.
- Import business grew 17.33% in 2015 while export business grew 3.22% and guarantee business grew 110.38%.
- Operating profit grew 18.73% for the bank and 14.73% when consolidated. Total capital grew 14.73% and required CRAR was maintained above 10%.
- Non-performing loans were 5.37% of total loans
Venture capital fundraising strengthened in the second quarter of 2008, with 71 funds raising $9.1 billion, a 3% increase from the same period in 2007. While the number of funds decreased by 14%, the total dollar amount raised was up. Follow-on funds outnumbered new funds by approximately 2 to 1. The top three largest funds raised were Lightspeed Venture Partners VIII ($800 million), Foundation Capital VI ($750 million), and Kleiner Perkins Caufield & Byers XIII ($700 million).
The document is a balloon payment loan calculator that shows a borrower taking out a $10,000 loan at 9% annual interest rate over 36 months. It calculates that the borrower will make 12 monthly payments of $318 before paying a balloon payment of $7,012.86 after 12 months, for a total payment of $10,828.86 and $828.86 in total interest paid. It includes an amortization schedule showing the monthly breakdown of principal and interest payments over the life of the loan.
The Board of Directors of Banca IFIS met today under the chairmanship of Sebastien von Furstenberg and approved the results for the first half of 2013.
The first half 1 January-30 June 2013
Net banking income increasing by 22,7% to 132 million Euro.
Net profit from financial activities increasing by 14% to 105 million Euro.
Cost/income ratio further improving, down to 28,1% from 32,2%.
Profit for the period increasing by 16,7% to over 44 million Euro.
Turnover for the first six months: 2.509 million Euro.
Retail funding exceeded 3,9 billion Euro.
Non-performing loans/total loans in the trade receivables sector: 3,5%, compared to 4,3% at the end of 2012 and 3,7% at 30 June 2012.
70 new employees taken on in the first six months of 2013.
Solvency: 13,9%.
Core Tier 1: 14,2%.
The second quarter 1 April-30 June 2013
Net banking income amounting to 65 million Euro (+18,2%).
Net profit from financial activities increasing by 14,0% to 52 million Euro.
Net profit amounting to 21,6 million Euro (+19,6%).
The document summarizes budgeted receipts for the 2010-2011 fiscal year through April for the City of Gautier's general fund, water and sewer utility, and solid waste fund. It shows that for the general fund, 60% of the annual budget has been received to date, leaving $3.7 million in anticipated receipts. For the water and sewer utility, 52.4% of the annual budget has been received with $3.2 million remaining. The solid waste fund has received 51.6% of its annual budget with nearly $677,000 left in anticipated receipts.
- The company's reserves and surpluses increased by 45.74% due to higher profits in 2012 compared to 2011. The company's working capital also increased substantially by 72.23%.
- While secured and unsecured loans decreased, investments also decreased substantially to repay some of the loans. Liquid assets like cash and debtors increased significantly.
- Inventory levels increased possibly due to lower demand, but the company's inventory turnover ratio remains high, indicating efficient inventory management.
- Key financial ratios like debt-equity, earnings per share and price-earnings all improved in 2012 compared to previous years, signaling stronger financial performance.
This document summarizes the financial results of Banca Ifis Group for the first half of 2015. It shows a significant increase in net profit of 161.3% compared to the first half of 2014. Total equity increased by 19.7% while funding decreased by 16.1%. Key performance indicators like cost of credit quality and book value per share improved compared to the same period last year. Overall revenues and net profit increased substantially, demonstrating strong financial performance for the first six months of 2015.
This document provides an overview and outlook for Veolia Environnement for 2008 from its Investor Day presentation on October 22nd, 2008. It estimates operating cash flow for 2008 will be between €4.1-4.2 billion, down from initial estimates due to economic slowdown impacts in areas like Germany, Italy, waste management, and deferred projects. It also discusses plans to reduce net investments to €3.9 billion in 2008 while accelerating €1 billion in disposals. Finally, it summarizes Veolia's strong financial stability with secure debt profile, liquidity position, and financial ratios within credit rating agency guidance.
Danaher Corporation announced record results for its third quarter and first nine months of 2005. Net earnings for Q3 2005 were $229 million, up 14% from Q3 2004. Sales for Q3 2005 were $1.966 billion, an increase of 12.5% over Q3 2004. For the first nine months of 2005, net earnings were $646 million, up 22.5% compared to the same period in 2004. Sales for the first nine months were $5.721 billion, up 16.5% year-over-year. The CEO attributed record results to growth from existing businesses and acquisitions.
Venture Capital Fundraising Activity - Q1 2008 mensa25
Venture capital fundraising activity slowed in the first quarter of 2008, with 57 funds raising $6.3 billion, a 31% decrease in the number of funds raised compared to the first quarter of 2007. Follow-on funds dominated fundraising, with 52 follow-on funds raised compared to just 5 new funds. The ratio of follow-on to new funds was approximately 10-to-1 for the quarter, compared to less than 3-to-1 in the first quarter of 2007. The largest funds raised focused on balanced stage investments in life sciences and clean technologies.
The document summarizes the annual general meeting (AGM) of the UK chapter of the International Institute for Business Analysis for the 2011 fiscal year. It provides an overview of the chapter's finances, achievements in 2010, and plans for 2011. The chapter saw increased revenues and membership in 2010 and a net profit of nearly £10,000. Plans for 2011 include ensuring a successful conference, establishing new branches, defining the chapter's purpose, and improving membership processes.
The market value of Varma’s investments rose to EUR 45.4 (42.4) billion in January–September. The investment portfolio generated a return of 6.2 (3.1) per cent or EUR 2.7 billion, and the company’s solvency strengthened to EUR 11.4 (10.1) billion.
- Varma's investments returned -0.4% in the first quarter of 2018, with the value of total investments at €45.7 billion.
- Market volatility increased in early 2018, lowering returns on investments, though solvency remained strong at €11.1 billion.
- Varma has over 544,000 pensioners and insures over 342,000 employees and entrepreneurs in Finland.
In 2017, the return on Varma’s investments was 7.8% (4.7%) or EUR 3.3 billion. Value of investments grew to EUR 45.4 (42.9) billion. Solvency strengthened by EUR 1.3 billion and amounted to EUR 11.5 (10.2) billion at year-end. Cost efficiency continued to show positive development: Varma used 67% (72%) of the insurance contributions meant for operating expenses.
Varma's interim report presentation 1 January - 31 March 2020Työeläkeyhtiö Varma
Varma’s solvency remained at a good level in the first quarter of 2020, even though the coronavirus pandemic that spread worldwide stopped the economy in its tracks.
In January–September, Varma’s investments yielded a strong 8.8% investment return. Return on investments was EUR 3.9 billion, and the market value of investments rose to EUR 47.4 billion.
Varma reported a 1.7% return on investments in the first half of 2018, reaching a new record high of €46.4 billion in market value. While market volatility lowered returns initially, performance recovered in the second quarter. Over ten years, Varma's average nominal return is 5.1%. Solvency remains at a strong level of 132.4%, above the required minimum. Operations were efficient with a loading profit of €24 million.
Technopolis Plc reported strong financial results for full year 2017, with net sales up 4.4% and EBITDA up 4.3%. Occupancy rates increased across all business units, with the group average reaching 96.1%. The company will propose a dividend of EUR 0.17 per share. For 2018, Technopolis estimates net sales will remain stable while EBITDA may be slightly lower, accounting for a property divestment in 2017. The company will continue its strategy of organic expansion and potential acquisitions to create shareholder value.
This interim report from Elo Mutual Pension Insurance Company discusses the impacts of the COVID-19 pandemic on their business in the first quarter of 2020. It notes increases in pension applications and customer contacts during this period. Investments suffered losses due to market volatility caused by the pandemic. The report provides key figures on policyholders, pensions, investments and solvency. It expresses uncertainty around future economic outlook due to the pandemic.
Metso reported its Q3/2018 results, with orders up 8% and sales up 18% compared to Q3/2017. Adjusted EBITA was €96 million, up from €43 million, and earnings per share were €0.40 compared to €0.13 previously. For minerals, orders were up 9% and sales up 19% while the segment's adjusted EBITA margin improved. Flow control saw a 6% order increase and 15% sales growth, with its adjusted EBITA margin also higher. The company continued executing its growth strategy through capital expenditures, R&D investments, and pursuing acquisitions. Its market outlook expects increased minerals equipment demand and stable minerals services and flow control demand
In 2016, the return on Varma’s investments was 4.7% (4.2%) or EUR 2.0 billion. The market value of investments increased to a record high: EUR 42.9 (41.3) billion. Solvency strengthened by EUR 243 million and amounted to EUR 10.2 (10.0) billion at year-end.
Varma's interim report presentation 1 January - 30 September 2020Työeläkeyhtiö Varma
Varma’s investment returns continued to recover in the third quarter from the abrupt fall in share prices caused by the coronavirus crisis early in the year. The market value of the investments increased by EUR 1.5 billion compared to the situation at the end of June and totalled EUR 46.8 billion at the end of September. According to President and CEO Risto Murto, an issue that is even more critical for the pension system than realised returns is the development of employment.
Varma's 2018 financial statement reported a negative 2% return on investments due to declining share prices late in the year. Key figures included €5.1 billion in premiums written, €5.7 billion paid out in pensions to 343,400 recipients, and €44 billion in total investments. Solvency remained strong at 1.6 times the limit, with a solvency capital of €9.6 billion and a ratio of 127.5%. Current topics discussed included rising retirement ages, an increase in disability pensions, and use of the new Incomes Register to speed pension processing.
This interim report from Elo Mutual Pension Insurance Company covers the period from January to September 2023 and provides key figures and information about their investments, pensions paid out, insured persons, and financial results. Some key points:
- Investment assets totaled €28.8 billion with a 5.3% 10-year nominal return and 2.7% return for the period.
- Total number insured was over 510,000 and they pay pensions to nearly 248,100 people.
- Pensions and other benefits paid totaled over €3.1 billion for the period.
- The solvency ratio was 120.3% and solvency position was 1.4, both
Metso 2017 H1 Half-year Review presentationMetso Group
- Orders received in the second quarter were slightly lower than the previous year, adjusting for a large mining order in the comparison period. Service order intake grew 8% with positive momentum across all regions and segments.
- Sales were up 1% overall but did not yet reflect the growth in orders due to timing of deliveries. Profitability was impacted by lower sales, unfavorable sales mix, and raw material price pressure.
- The order backlog increased and provides a solid base for deliveries in the second half of the year, although some postponements are still expected compared to planned delivery timetables.
We are very satisfied with the strong nine month and third quarter results. They show that we are delivering on the promises of our Ambition 2018 strategic plan. The combined ratio, margins in guaranteed life, return on equity and solvency all exceed our targets.
The return on Varma’s investments remained on a steady growth track in the third quarter of the year, after market turbulence in the beginning of 2018. The nine-month return on Varma’s investments was 3.5% (6.2%) or EUR 1.6 billion.
- Sales volumes grew but the weakening USD and unfavorable product mix decreased Q3 net sales. Operating profit declined due to ramp-up costs of the new US production line and growth investments.
- The company successfully refinanced its debt to provide a solid financial position for executing its 2017-2021 growth strategy focused on sustainability and innovation.
- While cash flow from operations decreased in Q3 due to lower profits and increased working capital, the company expects the new US production line to positively impact profits starting in 2018.
Similar to Varma's Interim Report 1 January - 30 June 2017 (20)
Of Varma’s investments, US equities performed best in the first half of the year. In the summer, inflation took a downward turn and interest rates reached their peak. Varma received international recognition by being ranked third in a comparison reviewing the transparency of responsible investing.
The return on Varma’s investments in January–June was 2.6 (-4.3) per cent. The value of Varma’s investments was EUR 57.4 (56.2 on 1 Jan) billion.
I början av året gav de amerikanska noterade aktierna bäst avkastning bland Varmas placeringar. Inflationen började sjunka under sommaren och räntorna toppade. Varma fick internationellt erkännande genom att knipa en tredje plats i en jämförelse om transparens i ansvarsfullt placerande.
I januari–juni avkastade Varmas placeringar 2,6 (-4,3) procent. Placeringarnas värde uppgick till 57,4 (56,2 vid årets början) miljarder euro.
Varman sijoituksista yhdysvaltalaiset osakkeet tuottivat parhaiten alkuvuonna. Kesällä inflaatio kääntyi laskuun ja korot saavuttivat huippua. Varma sai kansainvälistä tunnustusta sijoittumalla kolmanneksi vastuullisen sijoittamisen läpinäkyvyyttä arvioivassa vertailussa.
Varman sijoitukset tuottivat tammi–kesäkuussa 2,6 (-4,3) prosenttia. Varman sijoitusten arvo oli 57,4 (56,2 vuoden alussa) miljardia euroa.
This document provides a summary of Varma's interim report for the period of January 1 to September 30, 2022. Some key points:
- The return on Varma's investments was -4.9% and the value of investments was €56.4 billion. Solvency capital remained strong at €14.2 billion.
- New disability pension applications for mental health reasons increased among young women but decreased among young men. Rehabilitation applications overall declined 11% compared to the same period in 2021.
- Varma joined the Science Based Targets initiative to set emissions reduction targets and was ranked first in a study on responsible investment transparency.
Den snabba inflationen och räntehöjningarna under perioden januari–september reflekterades även i Varmas placeringars utveckling. Trots kraftiga kursreaktioner fick Varma fortfarande positiv avkastning på nästan hälften av bolagets placeringar.
Under perioden januari–september var avkastningen på Varmas placeringar -4,9 (13,5) procent. Placeringarnas värde uppgick till 56,4 miljarder euro (59,0 vid årets början).
Kiihtynyt inflaatio ja korkojen nousu heijastuivat tammi–syyskuussa Varman sijoitusten kehitykseen. Voimakkaista kurssireaktioista huolimatta edelleen lähes puolet Varman kaikista sijoituksista tuotti positiivisesti.
Sijoitusten tuotto oli tammi–syyskuussa -4,9 (13,5) prosenttia. Varman sijoitusten arvo oli 56,4 (59,0 vuoden alussa) miljardia euroa.
The return on Varma’s investments in January–June was -4.3 (10.4) per cent. The value of investments was EUR 56.7 (59.0 on 1 Jan) billion at the end of June.
Avkastningen på Varmas placeringar under perioden januari–juni var -4,3 (10,4) procent. Vid utgången av juni uppgick placeringarnas värde till 56,7 miljarder euro (59,0 vid årets början).
Varman sijoitusten tuotto oli tammi-kesäkuussa -4,3 (10,4) prosenttia. Sijoitusten arvo oli kesäkuun lopussa 56,7 (59,0 vuoden alussa) miljardia euroa.
Arbetspensionsbolaget Varmas solvens låg kvar på en stark nivå under årets första kvartal. Varmas onoterade placeringar bidrog med positiv avkastning men totalavkastningen blev negativ till följd av kursnedgången i början av året.
Työeläkeyhtiö Varman vakavaraisuus säilyi vahvana vuoden ensimmäisellä neljänneksellä. Positiivista tuottoa toivat listaamattomat sijoitukset kokonaistuoton jäädessä miinukselle alkuvuoden kurssilaskun seurauksena.
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This presentation was uploaded with the author’s consent.
This presentation by Juraj Čorba, Chair of OECD Working Party on Artificial Intelligence Governance (AIGO), was made during the discussion “Artificial Intelligence, Data and Competition” held at the 143rd meeting of the OECD Competition Committee on 12 June 2024. More papers and presentations on the topic can be found at oe.cd/aicomp.
This presentation was uploaded with the author’s consent.
Carrer goals.pptx and their importance in real lifeartemacademy2
Career goals serve as a roadmap for individuals, guiding them toward achieving long-term professional aspirations and personal fulfillment. Establishing clear career goals enables professionals to focus their efforts on developing specific skills, gaining relevant experience, and making strategic decisions that align with their desired career trajectory. By setting both short-term and long-term objectives, individuals can systematically track their progress, make necessary adjustments, and stay motivated. Short-term goals often include acquiring new qualifications, mastering particular competencies, or securing a specific role, while long-term goals might encompass reaching executive positions, becoming industry experts, or launching entrepreneurial ventures.
Moreover, having well-defined career goals fosters a sense of purpose and direction, enhancing job satisfaction and overall productivity. It encourages continuous learning and adaptation, as professionals remain attuned to industry trends and evolving job market demands. Career goals also facilitate better time management and resource allocation, as individuals prioritize tasks and opportunities that advance their professional growth. In addition, articulating career goals can aid in networking and mentorship, as it allows individuals to communicate their aspirations clearly to potential mentors, colleagues, and employers, thereby opening doors to valuable guidance and support. Ultimately, career goals are integral to personal and professional development, driving individuals toward sustained success and fulfillment in their chosen fields.
This presentation by Nathaniel Lane, Associate Professor in Economics at Oxford University, was made during the discussion “Pro-competitive Industrial Policy” held at the 143rd meeting of the OECD Competition Committee on 12 June 2024. More papers and presentations on the topic can be found at oe.cd/pcip.
This presentation was uploaded with the author’s consent.
Why Psychological Safety Matters for Software Teams - ACE 2024 - Ben Linders.pdfBen Linders
Psychological safety in teams is important; team members must feel safe and able to communicate and collaborate effectively to deliver value. It’s also necessary to build long-lasting teams since things will happen and relationships will be strained.
But, how safe is a team? How can we determine if there are any factors that make the team unsafe or have an impact on the team’s culture?
In this mini-workshop, we’ll play games for psychological safety and team culture utilizing a deck of coaching cards, The Psychological Safety Cards. We will learn how to use gamification to gain a better understanding of what’s going on in teams. Individuals share what they have learned from working in teams, what has impacted the team’s safety and culture, and what has led to positive change.
Different game formats will be played in groups in parallel. Examples are an ice-breaker to get people talking about psychological safety, a constellation where people take positions about aspects of psychological safety in their team or organization, and collaborative card games where people work together to create an environment that fosters psychological safety.
This presentation by Tim Capel, Director of the UK Information Commissioner’s Office Legal Service, was made during the discussion “The Intersection between Competition and Data Privacy” held at the 143rd meeting of the OECD Competition Committee on 13 June 2024. More papers and presentations on the topic can be found at oe.cd/ibcdp.
This presentation was uploaded with the author’s consent.
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This presentation was uploaded with the author’s consent.
This presentation by OECD, OECD Secretariat, was made during the discussion “Pro-competitive Industrial Policy” held at the 143rd meeting of the OECD Competition Committee on 12 June 2024. More papers and presentations on the topic can be found at oe.cd/pcip.
This presentation was uploaded with the author’s consent.
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This presentation was uploaded with the author’s consent.
This presentation by OECD, OECD Secretariat, was made during the discussion “The Intersection between Competition and Data Privacy” held at the 143rd meeting of the OECD Competition Committee on 13 June 2024. More papers and presentations on the topic can be found at oe.cd/ibcdp.
This presentation was uploaded with the author’s consent.
XP 2024 presentation: A New Look to Leadershipsamililja
Presentation slides from XP2024 conference, Bolzano IT. The slides describe a new view to leadership and combines it with anthro-complexity (aka cynefin).
The importance of sustainable and efficient computational practices in artificial intelligence (AI) and deep learning has become increasingly critical. This webinar focuses on the intersection of sustainability and AI, highlighting the significance of energy-efficient deep learning, innovative randomization techniques in neural networks, the potential of reservoir computing, and the cutting-edge realm of neuromorphic computing. This webinar aims to connect theoretical knowledge with practical applications and provide insights into how these innovative approaches can lead to more robust, efficient, and environmentally conscious AI systems.
Webinar Speaker: Prof. Claudio Gallicchio, Assistant Professor, University of Pisa
Claudio Gallicchio is an Assistant Professor at the Department of Computer Science of the University of Pisa, Italy. His research involves merging concepts from Deep Learning, Dynamical Systems, and Randomized Neural Systems, and he has co-authored over 100 scientific publications on the subject. He is the founder of the IEEE CIS Task Force on Reservoir Computing, and the co-founder and chair of the IEEE Task Force on Randomization-based Neural Networks and Learning Systems. He is an associate editor of IEEE Transactions on Neural Networks and Learning Systems (TNNLS).
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This presentation was uploaded with the author’s consent.
Competition and Regulation in Professions and Occupations – ROBSON – June 202...
Varma's Interim Report 1 January - 30 June 2017
1. Varma’s Interim Report
1 January–30 June 2017
11.8.2017 | Varma’s Interim Report 1 January–30 June 2017
2. 11.8.2017 | Varma’s Interim Report 1 January–30 June 2017
Market value
of investments, €
45.0 bn
Return on
investments
4.7%
Solvency capital, €
11.2 bn
Strong result as economy recovers
3. Investment returns 2008−2017
11.8.2017 | Varma’s Interim Report 1 January–30 June 2017
Investments yielded a return of EUR 2.0 billion
The average nominal return on investments over ten years is approx.
4.2%, calculated in accordance with the recommendations issued by TELA.
* 1-6/2016 return on investment was -0.3 %
*
4. The value of Varma’s investments reached a new record of EUR 45 billion
11.8.2017 | Varma’s Interim Report 1 January–30 June 2017
6. Since 2009, the cumulative return on Varma’s investments is 78.2%, i.e. €20.1 billion
11.8.2017 | Varma’s Interim Report 1 January–30 June 2017
European sovereign
debt crisis
ECB begins quantitative
easing
Commodity prices
plummet
Post-financial-crisis recovery has been reflected in investments for some time
7. Composition of the investment result
11.8.2017 | Varma’s Interim Report 1 January–30 June 2017
8. Investments classified according to risk
11.8.2017 | Varma’s Interim Report 1 January–30 June 2017
1-6/2017 1-6/2016 1-12/2016 24 m
Return Return Return
MWR MWR MWR Vola-
€ mill. % € mill. % € mill. % € mill. % % % % tility
17,927 40 9,454 21 14,614 35 18,066 42 2.9 2.2 4.2
Loan receivables 1,446 3 1,446 3 1,345 3 1,432 3 2.1 1.9 4.2
Bonds 12,117 27 12,872 29 11,238 27 12,780 30 3.7 3.0 5.3 3.3
Public bonds 4,227 9 5,419 12 4,649 11 5,374 13 2.9 3.2 1.8
Other bonds 7,891 18 7,454 17 6,589 16 7,406 17 4.1 2.9 7.8
Other money-market instruments and deposits 4,363 10 -4,864 -11 2,031 5 3,854 9 -1.1 -0.4 -0.4
17,190 38 17,506 39 15,266 37 18,527 43 7.0 -3.1 6.4
Listed equities 13,316 30 13,633 30 11,848 29 14,793 35 7.9 -5.5 4.5 9.7
Private equity 2,815 6 2,815 6 2,592 6 2,794 7 3.6 4.0 11.2
Unlisted equities 1,058 2 1,058 2 826 2 940 2 2.9 13.5 23.7
3,654 8 3,654 8 3,855 9 3,643 9 2.5 2.6 -0.9
Direct real estates 2,839 6 2,839 6 3,154 8 2,897 7 1.9 2.6 -2.6
Real estate funds 816 2 816 2 701 2 746 2 4.5 2.9 6.8
6,218 14 7,104 16 6,808 17 7,320 17 3.8 -0.8 5.3
Hedge funds 6,259 14 6,259 14 6,505 16 7,184 17 3.6 -0.6 5.6 3.0
Commodities -19 0 70 0 315 1 137 0
Other investments -22 0 775 2 -13 0 -2 0
44,989 100 37,718 84 40,544 98 47,555 111 4.7 -0.3 4.7 5.0
Impact of derivatives 7,270 16 698 2 -4,703 -11
44,989 100 44,989 100 41,242 100 42,852 100
The modified duration for all the bonds is 4.1.
The open currency position is 21.7% of the market value of the investments.
1
Includes accrued interest
Risk positionRisk positionMarket Value Risk position
Market value
Real estate investments
Other investments
30-June-2017 30-June-2016
31-December-
2016
Total investments
Investment allocation at fair value
Market valueMarket value
Fixed-income investments
1
Equity investments
9. Investments in Finland 28%, €12.7 bn
11.8.2017 | Varma’s Interim Report 1 January–30 June 2017
10. Investment returns for Varma and the markets
11.8.2017 | Varma’s Interim Report 1 January–30 June 2017
% Varma
Finnish
equities
European
equities US equities
Euro
government
bonds
Euro
corporate
bonds
06/2017 4.7 11.4 7.0 9.3 -1.1 0.6
2016 4.7 13.3 1.7 12.0 3.3 4.7
2015 4.2 15.9 9.6 1.4 1.6 -0.7
Average nominal return
5 years 6.8 19.7 11.7 14.6 5.1 4.5
10 years 4.2 5.3 2.6 7.2 5.1 4.6
Since 1999 *
5.6 8.9 4.4 5.7 4.6 4.4
Average real return
5 years 6.1 18.8 10.9 13.9 4.4 3.8
10 years 2.7 3.7 1.1 5.6 3.5 3.1
Since 1999 *
4.0 7.2 2.7 4.1 3.0 2.8
*
Varma, as it is today, was founded in mid-1998, so comparison data earlier than 1999 is not available.
Finnish equities = OMX Helsinki Cap Index Euro government bonds = IBOXX Eurozone EUR (Total Return)
European equities = Stoxx 600 Total Return Index EUR Euro corporate bonds = IBOXX Corporate Overall Performance Index EUR (Total Return)
US equities= S&P500 Total Return Index
11. Solvency very strong
• Solvency capital was EUR
11.2 billion at the end of June
(10.2 bn on 1 Jan), and 133.3
per cent in relation to the
technical provisions (130.9%
on 1 Jan).
• Solvency capital was on a
sustainable level, i.e. 1.7 (2.0)
times the solvency limit.
11.8.2017 | Varma’s Interim Report 1 January–30 June 2017
The figures are in line with the legislation in effect at the time.
12. Key figures
11.8.2017 | Varma’s Interim Report 1 January–30 June 2017
6/2017 6/2016 2016
Premiums written, € million 2,444 2,324 4,675
Pensions paid, € million ¹) 2,752 2,680 5,345
TyEL-insured 500,030 489,970 493,890
YEL insurance policies 35,470 36,450 36,000
Pensioners 342,480 337,260 340,100
Investments, € million 44,989 41,242 42,852
Return on investment, € million 2,012 -143 1,953
Return on investment, % 4.7 -0.3 4.7
Total result, € million 1,051 -733 457
Loading profit, € million 16 17 39
Operating expenses as % of loading component 75 75 72
Technical provisions, € million 35,601 33,392 33,501
Solvency capital, € million 11,234 9,136 10,199
Solvency ratio % 2)
133.3 128.3 130.9
Solvency capital/solvency limit 1.7 2.0 1.9
Average number of personnel, Parent Company 526 545 540
1)
2)
Before the reduction of received clearing of pay-as-you-go (PAYG) pensions
Pension assets in relation to the technical provisions under §11 of the Ministry of Social Affairs and Health’s decree
governing pension institutions (614/2008). All years are presented in the new format.
13. 536,000342,000
11.8.2017 | Varma’s Interim Report 1 January–30 June 2017
Insured employees and
entrepreneurs
Pensioners
Latest developments for customers
€2.8 bn
Pensions paid
14. Latest developments for customers
11.8.2017 | Varma’s Interim Report 1 January–30 June 2017
• Development of digital services continues. A
software robot was taken into use in pension
services, freeing up personnel to focus on
more demanding expert and customer work.
• Varma made 13,300 new pension decisions –
up 17%.
• Cost-effectiveness at a good level. Varma
used 75%, or €50 million, of the assets
reserved to cover operating expenses for
that purpose.
• The result of the TyEL transfer round that
ended in June was EUR 2.3 million.
• We published new workability management
contracts between 1 April and 30 June 2017.
16. Varma’s CSR focus areas
Responsibility for Varma employees Cost-effective use of funds
Open and pro-active
communication
Ethical and transparent
business
Responsibility
in investment operations
Mitigating climate
change
Securing
solvency
High-quality implementation
of pension provision
Promoting workability
and longer careers
11.8.2017 | Varma’s Interim Report 1 January–30 June 2017
17. CSR actions in the first half of 2017
• Varma will 7 build solar power
systems at several of its properties
around Finland, including its head
office
• Charging of electric and hybrid cars
possible at 250 spaces in the
company’s Salmisaari parking facility
5,000 new solar panels, 250
charging stations for green cars
• Varma in top 6 in WWF survey on how
well equity portfolios are aligned with
the Paris Climate Agreement
• Varma has excluded investments in
coal mines and in energy companies
who rely on coal for more than 1/3 of
their electricity production
European leader in sustainable
equities
Responsibility reflected in share
ownership policy
• Our share ownership policy
transparently outlines our principles
and expectations as a shareholder
• Responsibility included as a new part
of the policy: we require companies,
e.g., to comply with international
norms and to report on the impacts of
climate change on their business
11.8.2017 | Varma’s Interim Report 1 January–30 June 2017
19. Current economic issues
• The global economy appears to be
recovering on a large scale.
• Finland has finally made it on board the
global economic recovery. Growth is strong
and steady and is boosted by exports, private
consumption and investments.
• We still need to see stronger growth in
employment. The strengthened economic
growth has not yet significantly improved the
labour market situation.
11.8.2017 | Varma’s Interim Report 1 January–30 June 2017