PIC posts 68% rise in new business premiums amid record year for BPA

Specialist DB insurer wrote £6.9bn of new business premiums in 2023

Martin Richmond
clock • 3 min read
Blackwell: We are delighted to have continued investing in vital UK infrastructure and creating considerable social value
Image:

Blackwell: We are delighted to have continued investing in vital UK infrastructure and creating considerable social value

Pension Insurance Corporation (PIC) wrote a total of £6.9bn of new business premiums during the year to 31 December 2023, its full-year results reveal.

The specialist insurer for defined benefit (DB) schemes said new business premiums had increased by 68% during 2023 – from £4.1bn in 2022 to £6.9bn last year. It said it had also seen strong growth...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

Could the rush to buyout soon be over?

Could the rush to buyout soon be over?

While buyout is still viewed as a gold-standard, many are now considering run-on as an option

Stephanie Hawthorne
clock 22 April 2024 • 9 min read
Tender Watch: Access pool looks to appoint two private equity allocators

Tender Watch: Access pool looks to appoint two private equity allocators

LGPS pool expects total assets for the mandates could reach £6bn

Professional Pensions
clock 22 April 2024 • 1 min read
Industry welcomes proposals to grant DB schemes easier access to surpluses

Industry welcomes proposals to grant DB schemes easier access to surpluses

Providing schemes access to surpluses could be of ‘great benefit’ to sponsors and members

Martin Richmond
clock 18 April 2024 • 8 min read
Trustpilot