PIC completes £385m of bulk annuities in quiet first half

Insurer sees subdued start to the year in similar experience to wider market

James Phillips
clock • 2 min read
PIC chief executive Tracy Blackwell
Image:

PIC chief executive Tracy Blackwell

Pension Insurance Corporation (PIC) reported a 90% drop in new business premiums in the first half of the first year after a slow start for the bulk annuity market.

The insurer said it had completed £385m of buy-ins and buyouts in H1, compared to £3.5bn in the same period last year. The figure includes a buy-in with British American Tobacco earlier this year. ...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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