Vesuvius rolls fifth tranche of members into PIC buy-in

James Phillips
clock • 2 min read

Vesuvius has signed a £15m deal with Pension Insurance Corporation (PIC) to insure further pensioner members in its UK defined benefit (DB) scheme.

The deal is the fourth extension of a £320m buy-in with PIC - which was the largest bulk annuity transaction in 2012 - where, each year, some future retirees are automatically rolled into the contr...

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

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Risk Reduction

Misys Retirement Benefits Plan secures £25m buy-in with L&G

Misys Retirement Benefits Plan secures £25m buy-in with L&G

The transaction secures the benefits of 190 scheme members

Holly Roach
clock 14 August 2025 • 2 min read
2024 was second largest year ever in UK PRT market with £0.5trn in deals predicted over next decade

2024 was second largest year ever in UK PRT market with £0.5trn in deals predicted over next decade

L&G says global PRT market is on target for a ‘transformative’ period

Martin Richmond
clock 14 August 2025 • 3 min read
ROM scheme secures £23m full buy-in with Just Group

ROM scheme secures £23m full buy-in with Just Group

Transaction secures the benefits of 124 deferred members and 125 pensioners

Holly Roach
clock 13 August 2025 • 2 min read
Trustpilot