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juliaswansoninsuranceadvisor · 17 days

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Retirement Planning and Insurance in the Cayman Islands: A Comprehensive Guide

Retirement is a milestone that many people look forward to, but it’s also a phase of life that requires careful planning to ensure financial security. In the Cayman Islands, where the cost of living is relatively high, having a robust retirement plan is essential. This comprehensive guide will walk you through the key components of retirement planning and the critical role that insurance plays in securing a comfortable retirement in the Cayman Islands.

1. The Importance of Retirement Planning in the Cayman Islands

Retirement planning is about more than just saving money — it’s about ensuring you have the financial freedom to live comfortably in your golden years. With the unique financial landscape of the Cayman Islands, including its tax-free environment and higher cost of living, individuals must consider various factors when planning for retirement.

Keywords: retirement planning, financial freedom, Cayman Islands

When planning for retirement, it’s essential to consider future expenses such as healthcare, housing, and lifestyle changes. A well-thought-out retirement plan will help ensure that you can maintain your standard of living without financial stress. Additionally, in the Cayman Islands, it’s crucial to factor in the lack of direct taxes, which means you may have fewer tax-advantaged retirement accounts than in other countries. However, this also offers an opportunity to maximize investments and wealth accumulation.

2. The Role of Insurance in Retirement Planning

Insurance is a critical element of a successful retirement plan. It provides protection against unforeseen events that could derail your savings, such as health issues, accidents, or even death. By incorporating insurance into your retirement plan, you safeguard your financial future and provide for your loved ones.

Keywords: insurance, retirement plan, health issues, financial future

For retirees in the Cayman Islands, medical expenses can be a significant burden, especially if you’re dealing with critical illnesses or prolonged care. Life insurance, health insurance, and critical illness coverage are key components that can provide financial relief in times of need. Furthermore, some life insurance plans offer investment opportunities, allowing you to accumulate wealth that can be used during retirement.

3. Types of Insurance for Retirement Planning in the Cayman Islands

There are several types of insurance policies available in the Cayman Islands that can be integrated into your retirement strategy. These include life insurance, health insurance, and long-term care insurance.

Keywords: life insurance, health insurance, long-term care insurance, Cayman Islands

Life Insurance: Life insurance is vital for retirees who want to leave behind a financial legacy for their loved ones. Certain life insurance policies also provide investment opportunities that can be cashed out during retirement.

Health Insurance: Health insurance is indispensable, especially as you age and require more medical attention. Private health insurance in the Cayman Islands can help cover costs not included in public healthcare services.

Long-Term Care Insurance: Long-term care insurance ensures that you receive the care you need if you’re no longer able to care for yourself due to age or illness. This type of insurance covers nursing home expenses and in-home care, both of which can be costly without proper coverage.

4. Investment Opportunities in the Cayman Islands for Retirement

The Cayman Islands offers a unique financial environment that can be advantageous for those planning for retirement. Investment opportunities, including real estate, offshore accounts, and various tax-free vehicles, can help individuals build a substantial nest egg.

Keywords: investment opportunities, offshore accounts, real estate, tax-free vehicles

The lack of capital gains, property, or income taxes makes the Cayman Islands an attractive location for investing. Real estate, in particular, is a popular choice among retirees looking to grow their wealth. Additionally, offshore investment accounts allow individuals to diversify their portfolios, which can provide higher returns and reduced risk. When planning for retirement, it’s essential to take advantage of these opportunities to grow your savings.

5. Pension Plans in the Cayman Islands

Pension plans are one of the most critical tools for retirement planning. In the Cayman Islands, employers are required by law to provide pension benefits for employees, which serve as the foundation for many individuals’ retirement income.

Keywords: pension plans, retirement income, Cayman Islands

In the Cayman Islands, the National Pensions Law ensures that residents contribute to a pension fund throughout their working lives. Both employers and employees must contribute a percentage of earnings to a pension plan. The accumulated pension fund can then be withdrawn during retirement to provide a steady income. However, the amount saved through mandatory pension contributions may not be enough to sustain your desired lifestyle, which is why it’s essential to supplement your pension with personal savings, investments, and insurance.

6. Navigating the Cost of Living in the Cayman Islands During Retirement

The cost of living in the Cayman Islands is notably higher than in many other parts of the world. This reality makes retirement planning even more critical to ensure you can maintain a comfortable lifestyle. Expenses like housing, utilities, groceries, and healthcare can quickly add up, especially without a steady income.

Keywords: cost of living, Cayman Islands, retirement expenses, healthcare

To navigate these challenges, you’ll need a robust financial strategy that takes into account your anticipated retirement expenses. Health insurance, in particular, is essential as healthcare costs can be significant in retirement. Budgeting for these expenses and ensuring you have adequate savings and insurance coverage is key to a secure retirement.

7. Estate Planning and Retirement in the Cayman Islands

Estate planning is a crucial aspect of retirement, ensuring that your assets are distributed according to your wishes and that your loved ones are taken care of after your passing. Estate planning goes hand-in-hand with retirement planning, especially when it comes to managing life insurance policies and other assets.

Keywords: estate planning, assets, life insurance policies, retirement

In the Cayman Islands, estate planning involves managing your assets, property, and any investments that will be passed on to your beneficiaries. Life insurance plays a significant role here, as the payout from these policies can be used to cover estate taxes, funeral costs, and provide financial security for your family. Having a will, trust, and life insurance policies in place is essential to ensure a smooth transition of assets upon your death.

8. Tax Considerations for Retirement in the Cayman Islands

One of the major benefits of retiring in the Cayman Islands is the lack of direct taxes, including income tax, capital gains tax, and estate tax. This tax-free environment makes the Cayman Islands an attractive destination for retirees looking to maximize their retirement savings.

Keywords: tax considerations, tax-free environment, retirement savings, Cayman Islands

While there is no direct taxation, it’s still essential to consider the cost of living and potential taxes in other jurisdictions if you have international assets or plan to spend time outside the Cayman Islands. For those with investments in foreign countries, tax implications may still arise, so it’s crucial to consult with a financial advisor to ensure compliance with international tax laws and to optimize your retirement strategy.

9. Creating a Personalized Retirement Plan in the Cayman Islands

No two retirement plans are the same, as everyone has different financial goals, lifestyles, and needs. In the Cayman Islands, creating a personalized retirement plan means evaluating your current financial situation, identifying your retirement goals, and finding the right balance of savings, investments, and insurance.

Keywords: personalized retirement plan, financial goals, Cayman Islands

Working with a financial advisor who understands the unique financial landscape of the Cayman Islands is highly recommended. They can help you assess your needs, adjust your plans as circumstances change, and ensure that you have the right combination of pension benefits, investments, and insurance coverage to support your retirement lifestyle.

10. The Benefits of Working with a Financial Advisor in the Cayman Islands

Given the complexity of retirement planning, especially in a unique jurisdiction like the Cayman Islands, working with a financial advisor can help ensure your financial security. A financial advisor can provide personalized guidance, assist in optimizing your pension contributions, recommend investment opportunities, and help you select the right insurance products.

Keywords: financial advisor, financial security, retirement planning, Cayman Islands

A knowledgeable advisor can also keep you updated on changes in local laws that may affect your retirement strategy. By working with a trusted professional, you can have peace of mind knowing that your retirement is well-planned and protected.

Conclusion

Retirement planning in the Cayman Islands requires a thoughtful approach that incorporates savings, investments, and insurance. With the right strategy, you can enjoy a financially secure retirement while making the most of the Cayman Islands’ tax-free environment. Whether you’re just starting your retirement journey or nearing retirement age, it’s essential to plan carefully and seek professional advice to ensure a comfortable and stress-free future.

Keywords: retirement planning, financial security, investments, insurance, Cayman Islands

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milestonepropertiescayman · 2 years

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Looking for a commercial property to buy or lease in the Cayman Islands? Our experts will help you find the ideal office, retail, or land for a better presence. For more details, contact Milestone Properties Cayman today!

#Milestone Properties Cayman #Grand Cayman real estate listings #sell my house in Cayman

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topgooglelistings · 5 years

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reallifecaribbean · 5 years

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Step into the unique, SUGAR REEF, located on the beach in one of Cayman's most desirable residential communities. Tucked away in the charming enclave of Old Prospect is a spectacular property where serene views of South Sound are enhanced by by timeless interiors rich in design detail. Read more about Sugar Reef in REALlife Magazine here: www.reallife.ky/editorial/sugar-reef-cayman-islands For more information or to view Sugar Reef, contact: Sophie Miles at Milestone Properties Cayman [email protected] • 1.345.926.9926 • www.milestone.ky @sophie.milestone @milestonepropertiescayman @reallifecaribbean #reallifecaribbean #milestoneproperties #caymanislands #realestate #luxuryhomes #beachfront #caribbean #propertycayman #caymanrealestate #caribbeanarchitecture #investmentproperty #nofilter #grandcayman #uniquedesign #beachlife (at Cayman Islands) https://www.instagram.com/p/Bx0nlyFgNPz/?igshid=9911funh4plr

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businessliveme · 5 years

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Luxury Travel Guide for Less: Expert Tips for Saving Money

(Bloomberg) — Backpacking through Europe or road-tripping across the U.S. may be fun when you’re young, but when the thought of shoving your carry-on into a crowded overhead compartment or staying in a no-name motel makes you want to reconsider your vacation altogether, you know it’s time for a luxury trip. (That and when looking at your bank account inspires more pride than dread.)

But how to define “luxury” exactly?

To Lindsey Epperly, founder and chief executive officer of Atlanta-based Epperly Travel, it’s a four- or five-star getaway that’s catered to your personal preferences. “What people should look for is a major difference in terms of service,” she says. “Luxury is about anticipating needs. It’s walking to the hotel bathroom realizing you forgot your toothpaste, and it’s already there.”

Read: Travel stylishly with S.T. Dupont

New York’s David Prior, founder of members-only travel club Prior LLC, adds that it can be a mix of high and low amenities. It’s more about convenience (time is the ultimate luxury, after all) and personalization. “It’s not necessarily infinity pools or fancy cocktails. We’ve noticed people want to splurge on a really special experience,” he says.

Read: Use These Tricks While Travelling to Protect Your Clothes

In the interest of helping you maximize your money and take your next trip up a notch, we talked to more than a dozen travel experts for the best ways to splurge (and save) on a luxury vacation.

Set Your Intentions

Almost every travel adviser we spoke with stressed the importance of taking time before the trip to consider your goals for the vacation.

“When we work with clients, you don’t lead with where they want to go, you lead with why they want to go there and what they want to get out of it,” says Todd Bliwise, founder of travel company An Avenue Apart.

Do you want to come back relaxed? Maybe a beach or countryside locale would be best. Interested in adventure and experiences that leave you exhausted? That calls for mountains or jungle or a busy city. Have no idea where you want to go? Bliwise says the greatest gift you can give a travel agent is telling them your budget, length of time off, and desired takeaways from the trip—and let them work their magic.

Read: Here’s the Right Way to Plan an Iceland Trip

Take honeymoons, often travelers’ first introductions to luxury. But even a big trip celebrating a career milestone or a substantial raise is no less fraught as the internal logic is the same: “This is a once-in-a-lifetime experience, I don’t want to penny-pinch, I want to really go for it,” says Bliwise. “When you approach your first luxury trip, you should always lead with emotional variables.”

Setting your intentions clearly and specifically is the best way to make sure the cost/value ratio of luxury traveling is in sync with your values, and it will minimize disappointment on not seeing value in your “investment” with the greater outlay of cash. If you’re new to high-end traveling, learning that “luxury” is more of a feeling than a price point takes some figuring out—and is different for everyone.

Strategize Like a Financial Adviser

David Kolner, senior vice president at Virtuoso Ltd., a network of top-shelf advisers, says to consider currency exchange rates when planning your trip. Visiting the U.K. right now is a better deal for American travelers than it has been in years, since the dollar is strong against the pound. Similarly, the lira’s drop has made Turkey a much less expensive luxury option.

Read: A New Vacation Planning Tool Wants to Predict Your Next Holiday

Kolner also recommends strategizing your long-term travel bucket list like you would your financial plan, going so far as to map out how much you can spend on trips in the next five or 10 years. While this sort of advising is a growing niche for family travel, even those without kids can benefit from advance planning.

“People plan their retirement all the time, but on travel, people literally just make it up every trip, every single time,” he says. That kind of willy-nilly-ness is a surefire way to open yourself up to disappointment and waste money.

Think About Seasonality

Visiting destinations in shoulder season is common travel advice, but at the luxury level, planning around the peak can significantly boost your access to high-end amenities.

Melissa Biggs Bradley, founder of Indagare Travel Inc., recommends St. Barts in July, for instance, calling it a hidden secret and the perfect way to avoid the throngs of winter sun-seekers in December and January. Our own data-crunching suggests you think a bit earlier even, May and June, to get the best bang for your buck.

It’s also worth considering what it is you want—say, rugged Mediterranean or Atlantic coast—and transferring that desire to an emerging destination. If you’re interested in the south of France and Italy, try Croatia or Portugal instead. “Having a similar vacation on the Mediterranean is much less expensive, and you’re not losing out in terms of the quality of food or property,” she says.

One caution: If your bucket list includes places such as Machu Picchu, there’s no cheaper time than the present (even if there are worthy alternatives). As governments consider visitation limits due to overtourism concerns, Bradley’s advice is to go now, before it’s too late.

Consider a Safari

Almost every travel expert said that safaris were especially popular for first-time luxury trips—and for good reason.

It’s difficult to do a safari on a tight budget, explains Jack Ezon, founder of Embark Beyond, a luxury lifestyle partnership specializing in bespoke travel. “To do it right, it’s really expensive, but it’s also very transformational.”

Bliwise likes to combine safaris with an island destination or time in India and Nepal for a hiking experience. That’s especially popular for couples who have split interests—one desires a relaxing beach trip while the other wants adventure.

For safaris in particular, cutting corners cedes control on a ton of underlying variables, he says. Some travel companies shove too many people into the safari vehicles, for instance, which can lead to a miserable experience of straining over fellow passengers’ shoulders for three hours. That dissatisfaction is magnified because even a “cheap” safari is still a hefty proposition.

Traveling to Africa also means you’re avoiding the masses vacationing in Europe—the No. 1 place Bliwise says Americans should skip for their first luxury trip. “I don’t say that out of disrespect, but it’s incredibly accessible,” he says. “You’re not going to go only once in your life.”

Airport Add-Ons Offer Outsize Results

Splurging on an airport greeter that can welcome you to your destination and help you through customs and immigration is a great way to start your trip on a high note, says Anna Hawley, a custom travel consultant at TCS World Travel.

Ezon recommends airport VIP service Isroyal. “If you have a flight connection, you can get picked up by a golf cart and driven to your connecting flight. Those are small luxuries that cost $400 or $500 and can make a huge difference.”

He also uses Luggage Free, a company that ships luggage to your destination (and back home) so you don’t have to lug around a heavy suitcase or worry about airlines losing your bags.

Invest in a Private Guide…

One big differentiating factor between a luxury trip and a regular one is the ability to do things privately and on your own schedule—no cramming into a tour bus with 50 other people.

For instance, Hawley from TCS World Travel has booked clients a shopping expert to take them through the markets in Marrakesh, and in Rome she’s coordinating a Da Vinci Code-inspired scavenger hunt for kids to explore the city. “The private guide aspect is obviously an added expense, but it’s something that takes the level up,” she says. “You really get in-depth and get to know the culture, and you see some off-the-beaten-path areas.”

This is also a way to make a hectic destination less intimidating, says Elisabeth Nelson, a managing director at TCS.

She recommends taking this approach in India where heavy traffic and linguistic differences can overwhelm even an experienced traveler. “You will still be in a crowded road, but with a private car and air conditioning, it makes things much less scary,” she says.

…But Save on a Private Driver

While a private guide is useful in helping you explore a new location, having a private car and driver throughout the entire trip isn’t always worth the extra expense, says Kathy Sudeikis, who’s been a travel adviser for almost 50 years (and yes, mom to actor Jason Sudeikis, too).

Indagare’s Bradley agrees drivers are a simple area to economize, if needed. Maybe that means booking a hotel in the middle of the city or a beach villa that’s within walking distance of a nearby town. “We have a lot of people who will choose one central destination, so they don’t have to move around a lot,” she says.

If you really want a private driver, TCS’s Hawley recommends booking one for the first day to introduce you to the new location. After that, you may feel more comfortable taking public transportation or walking the streets on your own.

For Lodging, Splurge at the Beach, Save in the City

If you’re visiting a beach destination where you’ll spend the majority of your time in your resort, paying extra for luxury lodging is a must, says Sarah Fazendin, an adviser at the family-focused Videre Travel. Think of it like a cost-per-use rationale when buying clothing; you’re getting much more for your money given the time utilized. She recommends booking a villa in the Cayman Islands or Costa Rica, which are less crowded than other beach destinations in the region and as a result may feel more “authentic.”

By the same logic, Ashley Diamond, travel adviser for Ovation Travel Group, suggests spending less on hotel rooms in a city where you’ll spend the majority of your time outside exploring.

“It is entirely fine to stay in an entry-level room at some of the finest hotels in the world, especially since you will have access to all the amenities on the property,” she says. “Not everyone needs a lot of square footage.”

Prior recommends splitting the difference and booking a fancy hotel for the first and last night of your trip—and economizing on the rest. He says to think of these stays as “punctuation notes” for your trip. You’ll appreciate everything all the more.

“The French say luxury should be taken in small does,” says Prior, “and I kind of believe that, too.”

The post Luxury Travel Guide for Less: Expert Tips for Saving Money appeared first on Businessliveme.com.

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jamesgeiiger · 6 years

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Jack Mintz: Ottawa can’t keep squeezing Crazy Rich Canadians. Or barely rich ones.

Why is it so hard for governments to reduce personal income taxes? Every time a politician proposes that income taxes should be cut, a typical reaction is to call it unfair since high earners are better off and so they supposedly don’t deserve any tax breaks. But tax reductions necessarily favour higher-income Canadians: with our highly distributive income-tax-transfer system, high earners already pay a majority of the personal income tax, so they will also get the most out of any income tax cut. And while redistribution to help the poor is laudable, it also comes at a cost to the economy, resulting in less growth, a lack of competitiveness and distorted consumption patterns that favour public over private spending.

According to the Canada Revenue Agency’s recent preliminary statistics for 2016, individuals earning $100,000 or more in annual income (8.7 per cent of all taxpayers), pay 51 per cent of federal income taxes. The one-per-centers (with more than $250,000 in annual income) pay 20.4 per cent of federal income taxes.

Going a bit further down the income scale, the top 15 per cent of tax filers (those with individual income more than $80,000) pay almost two-thirds of federal income tax. So cutting personal taxes obviously makes higher-income Canadians better off.

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Indeed, very little tax is paid at low-income levels given our system’s concessionary marginal tax rates and credits. Statistics Canada reported that households at the 50th-percentile income level in 2016 received an average market income of $52,300, paid $6,600 in federal and provincial income taxes and received money transfers equal to $7,400. That means that federal and provincial income taxes comprised just 12.6 per cent of their market income compared to transfers at 14.6 per cent and that, effectively, the median Canadian household is receiving a transfer, net of income taxes, of $800 a year — or a two-per-cent bonus over their income.

But that’s just for income taxes: Once we take into account all levies and transfer programs, as my co-authors and I showed in a 2015 paper, the lowest income groups, representing 40 per cent of the population, pay fewer taxes than they receive in money transfers.

So when it comes to federal elections, the parties know that over half the population will likely support proposals to raise taxes on the rich to fund more transfers to the non-rich masses. This has been referred to as the “tyranny of the majority.” Because a greater number of people make moderate or low incomes, they can use their votes to effectively expropriate income from the fewer high-income taxpayers to support the rest of us.

It’s no surprise, then, that the federal Liberals won sufficient voter support for their promise to “ask the wealthiest one per cent of Canadians to give a little more” to pay for their “middle-class tax cut.” Truthfully, once in power in 2015, the Liberals didn’t really “ask”: They raised the federal top rate to 33 per cent from 29 per cent while offering a smaller tax cut of 1.5 percentage points to income roughly between $45,000 and $90,000.

Even conservative politicians tend to focus on income tax cuts for the more heavily populated middle income bracket, rather than for high incomes. But it’s even easier for politicians to get away with promises to cut broad-based taxes like those on sales and payrolls, since pretty much all adults pay those. The Harper government made itself more popular by lowering the federal GST rate — more popular except among members of the Economist Party, who kept reminding people that consumption taxes are less harmful than the income taxes.

Yet, there gets a point that governments can’t keep hitting those Crazy Rich Canadians — or just barely rich Canadians — with ever-higher taxes to fund public expenditures, which now account for more than two-fifths of the economy. The rich are usually able to shift assets and income outside of Canada or move themselves to countries with lower taxes (such as the U.S., the U.K. or the Cayman Islands). Or they may simply work less and retire early. Few studies have looked at the long-run impact of tax-rate hikes on mobile taxpayers in the highest brackets, but we do know that high-income earners in the short run react much more to high taxes, by using avoidance manoeuvres, than the rest of the population does.

We also know from various economic studies that high marginal personal tax rates reduce economic growth. They discourage work effort, investment and risk-taking by entrepreneurs and highly paid skilled labour. As seen in the accompanying table, Canada’s top marginal income tax rate is now the seventh-highest among 33 OECD countries (about seven points higher than the top U.S. rate, after recent tax reforms there). Moreover, unlike France, Japan, Portugal and United States, Canada defines someone to be a high earner at a much lower income level relative to the average national wage.

To lighten the tax burden on the rich facing high marginal tax rates in ways that avoid unpopular income tax cuts, governments often introduce various tax preferences targeted at high earners, such as venture-capital credits, flow-through share credits, capital gains exemptions and electric-car credits, among many others, ostensibly to encourage government-favoured activities. Whether the various tax expenditures are effective in encouraging certain behaviour is less important. It’s just easier, politically, to offer relief to high earners indirectly.

Still, the more we rely on a highly progressive income tax, the more we reduce growth, even if the money is redistributed to growth-enhancing programs, like education and infrastructure. To fund large spending outlays, governments must also rely on taxes on payroll, sales, property, excise and other non-income sources. And those taxes are much more heavily borne by lower- and middle-income Canadians. The result is a system that taxes income in ways that hampers growth, but is now reaching the limit of how hard it can squeeze upper-income earners. So, if the public sector continues to expand, then what will be left is governments relying disproportionately on taxing money away from middle-income families. None of this is a formula for prosperity and growth.

Going back to the argument in the famous 1967 Carter Report, comprehensive tax reform would lead to a better tax system with lower rates, a lot fewer of those special credits and exemptions, and broader tax bases. But given the way political decision-making works, don’t hold your breath for that. It would take a brave government to lead the way to reforming our tax system for the better. It’s hard to name any leaders right now who have the right stuff for it.

• Jack Mintz is president’s fellow at the University of Calgary’s School of Public Policy.

Jack Mintz: Ottawa can’t keep squeezing Crazy Rich Canadians. Or barely rich ones. published first on https://worldwideinvestforum.tumblr.com/

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mikemortgage · 6 years

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Jack Mintz: Ottawa can’t keep squeezing Crazy Rich Canadians. Or barely rich ones.

Vancouver's hot housing market just got tougher for wealthy Chinese

William Watson: Canada’s income tax turns 100: Should this be a milestone or tombstone?

William Watson: Politicians claim taxes don’t change behaviour. Kinky bunching proves them wrong

Even conservative politicians tend to focus on income tax cuts for the more heavily populated middle income bracket, rather than for high incomes. But it’s even easier for politicians to get away with promises to cut broad-based taxes like those on sales and payrolls, since pretty much all adults pay those. The Harper government made itself more popular by lowering the federal GST rate from five per cent to three per cent — more popular except among members of the Economist Party, who kept reminding people that consumption taxes are less harmful than the income taxes.

• Jack Mintz is president’s fellow at the University of Calgary’s School of Public Policy.

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healthcarebiz · 7 years

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WuXi Biologics Announces 2017 Interim Results

59.5% revenue growth to RMB 654 million

51.7% adjusted EBITDA growth to RMB 266.1 million

Improvement on gross profit margin, adjusted EBITDA margin and adjusted net profit margin vs 2016 full-year results

564.7% backlog growth to US$452 million

Highly confident to deliver full year financials as expected

HONG KONG, Aug. 22, 2017 /PRNewswire/ -- WuXi Biologics (Cayman) Inc. ("WuXi Biologics" or "the Group", stock code: 2269.HK), a leading global open-access biologics technology platform company offering end-to-end solutions for biologics discovery, development and manufacturing, today announces its unaudited interim results for the six months ended June 30, 2017.

First-Half 2017 Highlights

Strong revenue growth of 59.5% year-on-year to RMB654 million

Gross profit rose 41.6% year-on-year to RMB264.3 million with gross profit margin of 40.4%

Adjusted EBITDA[1] rose 51.7% year-on-year to RMB266.1 million, with adjusted EBITDA margin of 40.7%

Net profit grew on track 9.9% year-on-year to RMB92.2 million due to higher milestone revenue in 2016. Adjusted net profit[2] grew 35.8% to RMB152.8 million. Net profit and adjusted net profit margins are 14.1% and 23.4% respectively

Adjusted diluted EPS increased 25.0% to RMB0.15

Gross profit margin, adjusted EBITDA margin and adjusted net profit margin all compare favorably to full year 2016 results

Record 564.7% backlog growth to US$452 million as of June 30, 2017 compared to US$68 million as of June 30, 2016

Record high number of ongoing integrated projects[3], increasing from 75 as of June 30, 2016 to 134 as of June 30, 2017

The number of late phase (phase III) projects doubled to six as of June 30, 2017 from three at the time of our IPO

[1] Adjusted EBITDA represents net profit before (i) interest income and expense, income tax expenses and (ii) certain non-cash expenses, consisting of share-based compensation, amortization and depreciation and impairment of goodwill and (iii) FX gains or losses

[2] Excludes FX gains or losses, listing expenses and share-based compensation

[3] An integrated project refers to a project that requires us to provide services across different stages of the biologics development process

Management Comments

"We delivered yet another strong performance for the first half of 2017, with revenues across each of our key geographies increasing significantly," said Dr. Ge Li, Chairman of WuXi Biologics. "With US$452 million of backlog and 134 ongoing integrated projects, the momentum of our business is stronger than ever. We continue to be confident that we will deliver 2017 full-year financials as we expected."

"The growth of the global biologics market showed no signs of abating in the first half of 2017 and WuXi Biologics has certainly been a key beneficiary," said Dr. Chris Chen, CEO of WuXi Biologics. "Our established track record and reputation as an open-access and integrated biologics platform continue to attract new customers and more projects from existing customers, which became evident in the financial results for the first half of 2017. Our revenue and adjusted EBITDA grow 59.5% and 51.7% year-on-year respectively, which is a strong manifestation of impressive execution of our "follow-the-molecule" strategy. Overall, gross profit margin, adjusted EBITDA margin and adjusted net profit margin of the last 6 months all compare favorably to those of full-year 2016."

"In terms of our expansion plans, the construction of our Wuxi and Shanghai facilities is fully on track, with the facilities scheduled to become operational in Q4 2017 and Q2 2018 respectively. We also continue to be able to attract top-notch talents, which is a key business focus and competitive strength of ours. We grew our employee headcount from 1,624 at the end of 2016 to 1,998 as of June 30, 2017."

"We have witnessed phenomenal backlog growth in recent months due to our increasingly solid track record in the global competitive landscape, our successful execution of business development in Europe, and doubling of our late phase projects from 3 to 6 requiring more process development and large-scale manufacturing."

"We have also achieved key business milestones in recent months. In early August this year, the US FDA completed the pre-license inspection (PLI) of our current cGMP manufacturing facilities for production of ibalizumab with no critical observations. If approved, ibalizumab will be the first biologics drug approved in the United States to be commercially manufactured in China. This validates both our global quality standard and pioneer use of single-use systems for commercial manufacturing. Separately, in a recent deal with a total value of up to US$816 million, we and our partner Harbin Gloria Pharmaceuticals ("Gloria") granted Arcus Biosciences an exclusive license of GLS-010, a novel anti-PD-1 antibody for several markets outside of China. We and Gloria expect to receive US$18.5 million upfront payment during the second half of 2017 of which approximately US$1.55 million will be paid to Gloria. This important development demonstrates that our China gateway and global capabilities allow us to increase our potential revenues significantly for each molecule. We are highly confident that we will continue to execute our strategy well and deliver as expected financial results full year 2017," Dr. Chen added.

1H 2017 Interim Results

Revenue increased by 59.5% year-on-year to RMB654.0 million in the first half of 2017. The major revenue growth drivers are (i) a continued increase in the number of customers and the strong growth in the number of integrated projects; (ii) marketing efforts by the Group, resulting in robust performance in China, United States and Europe.

Gross profit grew 41.6% year-on-year to RMB264.3 million while gross profit margin was 40.4%, compared to 45.5% and 39.3% for the first six months and full year of 2016 respectively. The lower gross profit margin compared to the first six months of 2016 was primarily due to higher milestone fees received during the first six months of 2016.

Adjusted EBITDA increased by 51.7% year-on-year to RMB266.1 million in the first half of 2017. Adjusted EBITDA margin was 40.7%, compared to 42.8% and 37.5% for the first six months and full year of 2016 respectively. The lower adjusted EBITDA margin compared to the first six months of 2016 was primarily due to higher milestone fees received during the first six months of 2016.

Net profit increased by 9.9% year-on-year to RMB92.2 million in the first half of 2017. Net profit margin was 14.1%, compared to 20.5% and 14.3% for the first six months and full year of 2016 respectively. The lower net profit margin compared to the first six months of 2016 was primarily due to (i) a higher interest expense[4]; (ii) impact of FX[5] losses, and (iii) higher milestone fees received during the first six months of 2016.

[4] The onshore bank loan of RMB 1 billion was fully repaid in July 2017 and the offshore loan of US$38.6 million is expected to be fully repaid in early September 2017. As such, interest expense is expected to decrease accordingly.

[5] FX represents the foreign currency exchange rate (US dollar VS RMB)

Adjusted net profit, which excludes share-based compensation, FX gains or losses, and listing expenses increased 35.8% year-on-year to RMB152.8 million in the first half of 2017. Adjusted net profit margin was 23.4%, compared to 27.4% and 22.2% for the first six months and full year of 2016 respectively. The lower adjusted net profit margin compared to the first six months of 2016 was primarily due to (i) higher interest expense and (ii) higher milestone fees received during the first six months of 2016.

Basic and diluted EPS remained unchanged year-on-year at RMB0.09.

Adjusted diluted EPS grew 25.0% from RMB 0.12 year-on-year to RMB 0.15.

About WuXi Biologics

WuXi Biologics is the only open-access biologics technology platform in the world offering end-to-end solutions to empower anyone to discover, develop and manufacture biologics from concept to commercial manufacturing. The Group's history and achievements demonstrate its commitment to provide a truly ONE-stop service offering and value proposition to global clients. For more information on WuXi Biologics, please visit: http://ift.tt/1PabpUG.

Forward-Looking Statements

This presentation may contain certain "forward-looking statements" are not historical facts, but instead are predictions about future events based on our beliefs as well as assumptions made by and information currently available to our management. Although we believe that our predictions are reasonable, future events are inherently uncertain and our forward-looking statements may turn out to be incorrect. Our forward-looking statements are subject to risks relating to, among other things, the ability of our service offerings to compete effectively, our ability to meet timelines for the expansion of our service offerings, and our ability to protect our clients' intellectual property. Our forward-looking statements in this presentation speak only as of the date on which they are made, and we assume no obligation to update any forward-looking statements except as required by applicable law or listing rules. Accordingly, you are strongly cautioned that reliance on any forward-looking statements involves known and unknown risks and uncertainties. All forward-looking statements contained herein are qualified by reference to the cautionary statements set forth in this section.

Use of Adjusted Financial Measures

We have provided adjusted net profit, net profit margin, EBITDA, EBITDA margin and diluted earnings per share for the first half of 2016 and 2017, which excludes share-based compensation expenses, listing expenses and foreign exchange gains or losses, and are not required by, or presented in accordance with, IFRS. We believe that the adjusted financial measures used in this presentation are useful for understanding and assessing underlying business performance and operating trends, and we believe that management and investors may benefit from referring to these adjusted financial measures in assessing our financial performance by eliminating the impact of certain unusual and non-recurring items that we do not consider indicative of the performance of our business. However, the presentation of these non-IFRS financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with IFRS. You should not view adjusted results on a stand-alone basis or as a substitute for results under IFRS, or as being comparable to results reported or forecasted by other companies.

Statement Regarding Unaudited Financial Information

The financial information in this press release is unaudited and subject to adjustments. Adjustments to the financial statements may be identified when our annual financial statements are prepared and audit work is performed for the year-end audit, which could result in significant differences from this unaudited financial information.

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News story: UK extends women’s rights protections to Bermuda and St Helena

The UK has extended women’s rights protections in Bermuda and the territorial group of St Helena, Tristan da Cunha and Ascension Island, the Minister for Women and Equalities Justine Greening announced today.

The UN Convention on the Elimination of All Forms of Discrimination Against Women (CEDAW) has now been extended to Bermuda and the St Helena grouping, demonstrating the UK’s commitment to championing women’s rights around the world.

CEDAW is an international human rights treaty on equality between women and men, and defines discrimination against women. It forms a bill of rights for women worldwide, and sets out a comprehensive framework for tackling gender equality. The statutory instrument was deposited today in New York during the UN Commission on the Status of Women.

Minister for Women and Equalities Justine Greening said:

I am proud that the UK is leading the way on gender equality but we also have a responsibility to champion women’s rights around the world.

We can’t just wait for equality to happen, we need to keep pushing for it. By committing to protecting women and girls from discrimination, Bermuda and St Helena join the growing list of countries working to create a world where women and girls can achieve anything.

Under CEDAW, states are obligated to take action to protect women’s rights, including, but not limited to:

appropriate measures to eliminate stereotyping, prejudices and discriminatory cultural practices

measures to stop all forms of trafficking and the exploitation of prostitution of women

ensuring that women have equal rights with men to vote, hold public office and participate in civil society

ensuring that women have the same legal right to enter contracts, own property and choose their place of residence

ensuring that women have equal rights with men in relation to marriage and as parents

ensuring that women have equal rights with men in education

The Honourable Nandi Outerbridge, JP MP, Minister of Social Development and Sports, with responsibility for Human Rights in Bermuda, said:

Extension of CEDAW represents another major step towards the advancement of women’s equality and human rights in Bermuda. It has been a long journey, and we will now focus on new initiatives to strengthen and enhance the gains that have already been made.

Governor of St Helena, Lisa Phillips:

I am incredibly pleased that the UK is extending CEDAW to St Helena, Ascension Island and Tristan da Cunha. In so doing, we are making history. This will be the first extension to one of the UK’s smallest, remote and vulnerable inhabited territories. By adopting CEDAW, we have achieved a considerable milestone for these three islands in the South Atlantic. We demonstrate that we are now internationally recognised as Territories committed to equal rights and opportunities for women and girls.

In many ways St Helena, Ascension Island and Tristan da Cunha have a good story to tell on gender equality with encouraging progress to date. But there is more to do, especially to protect those less affluent and more vulnerable. I am proud of the women in these Territories and cannot bear to see discrimination….of any kind. The extension of CEDAW is an important contribution to ensuring women’s rights endure and are protected into the future.

Minister for the Overseas Territories and Foreign Office Minister for Human Rights Baroness Anelay said:

I am delighted by the recent decision of the Foreign Secretary to extend the UK’s ratification of CEDAW to Bermuda and the territory grouping of St Helena, Tristan da Cunha and Ascension Island. I wish to extend my congratulations to the governments of these territories for their hard work and commitment to the promotion of women’s rights within their jurisdictions.

In just over one year, the UK Government has increased the territorial application of this important international instrument from three to seven Overseas Territories, and it is our ambition that the remaining Territories will soon be in a position to join them.

The UK Government most recently extended CEDAW to Anguilla and the Cayman Islands in March 2016, and today’s announcement marks another milestone in the UK’s ambitions to extend the convention to all British Overseas Territories. CEDAW has been adopted by 186 countries, who have an obligation to respect, protect and fulfil women’s human rights. The full text of the convention can be read here.

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