PIC reinsures £760m longevity risk in Aon plan

Kristian Brunt-Seymour
clock • 1 min read

Prudential Insurance Company of America (PICA) has completed its third longevity reinsurance deal with the Pension Insurance Corporation (PIC) for the Aon Retirement Plan.

The deal which is PIC's first sizeable transaction under the new Solvency II regime reinsures longevity risk associated with the £3bn-£4bn scheme. It covers $1.1bn (£760m) liabilities for around...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Risk Reduction

Rothesay completes £400m refinancing for Unite Group

Rothesay completes £400m refinancing for Unite Group

Loan secured against a portfolio of 23 PBSA assets located across 15 cities in the UK

Jonathan Stapleton
clock 09 July 2025 • 1 min read
Four schemes complete full buy-ins with Utmost totalling £177m

Four schemes complete full buy-ins with Utmost totalling £177m

Risk reduction transactions secure benefits for nearly 2,500 pensioners and deferred members

Martin Richmond
clock 09 July 2025 • 1 min read
Member experience becoming 'key factor' in insurer selection

Member experience becoming 'key factor' in insurer selection

LCP says one third see member experience as ‘deciding factor’ if price was equal

Jasmine Urquhart
clock 04 July 2025 • 1 min read
Trustpilot