DENMARK - ATP Group has recorded losses of DKK2.2bn (US$0.46bn) in the first quarter, with its investment portfolio returning -0.3%.
ATP's investment portfolio results were down DKK4.8bn, after tax on pension-savings returns of DKK0.9bn.
ATP said, provided market conditions did not deteriorate further, the supervisory and executive boards still believed it was possible for the ATP Group to achieve results of between DKK1 and 4bn - before recognition of any additional provisions resulting from increases in life expectancy and any bonus additions to pensions and pension commitments.
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.