PIC announces £6.5bn in new business premiums in H1 results

Insurer also expects to see more than £200bn of risk transfer demand in next three years

Jasmine Urquhart
clock • 2 min read
PIC's Tracy Blackwell: H1 saw a strong balance sheet, record bulk annuity transactions and purposeful investment
Image:

PIC's Tracy Blackwell: H1 saw a strong balance sheet, record bulk annuity transactions and purposeful investment

The Pension Insurance Corporation Group Limited (PICG) has announced a record £1.1bn of pension payments in the first half of 2023.

The parent company of the Pension Insurance Corporation (PIC) have now insured a record 339,900 pensions and scored 99.3% on customer satisfaction. The specialist insurer of defined benefit (DB)...

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

SPM Plastics Pension Scheme secures £4m buyout with Just Group

SPM Plastics Pension Scheme secures £4m buyout with Just Group

Transaction fully secures the benefits of all 38 scheme members

Holly Roach
clock 21 August 2025 • 2 min read
ABB Plan secures £700m buy-in with Aviva

ABB Plan secures £700m buy-in with Aviva

Transaction secures the benefits of over 4,450 pensioner members and 2,900 deferred members.

Holly Roach
clock 20 August 2025 • 2 min read
Updated: The biggest buy-ins and buyouts since 2007

Updated: The biggest buy-ins and buyouts since 2007

Professional Pensions rounds up the largest block transfers of liabilities to insurers

Professional Pensions
clock 20 August 2025 • 1 min read
Trustpilot