PICA launches reinsurance counterparty to back UK bulk annuities

Holly Roach
clock • 2 min read

Prudential Insurance Company of America (PICA) has launched a reinsurance counterparty, lending support to insurers that account for more than 90% of the UK pension risk transfer market.

A subsidiary of American financial services firm Prudential Financial, which has more than $1trn in assets under management (AuM), the insurer has partnered with Phoenix Group to provide a longevit...

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

Rolls-Royce secures full buyout with PIC nine months after £4.3bn buy-in

Rolls-Royce secures full buyout with PIC nine months after £4.3bn buy-in

Transaction covers 36,000 members and follows a full buy-in last August

Holly Roach
clock 15 July 2026 • 2 min read
Combat Stress scheme completes £4m buy-in with Just Group

Combat Stress scheme completes £4m buy-in with Just Group

Transaction secures the benefits of 22 deferred members and 17 pensioners

Martin Richmond
clock 15 July 2026 • 2 min read
UK PRT volumes for 2026 expected to be between £35bn and £40bn

UK PRT volumes for 2026 expected to be between £35bn and £40bn

Standard Life says H2 volumes could be driven by larger schemes approaching the market

Martin Richmond
clock 14 July 2026 • 3 min read
Trustpilot