Pension Insurance Corporation (PIC) has reinsured £1.2bn of its longevity risk with French company SCOR, the second deal between the two insurance companies.
PIC said the deal covers the longevity risks for around 8,000 retirees and their spouses across six defined benefit pension schemes. PIC's longevity reinsurance business volumes currently exceed £4bn...
The Co-operative Group's Somerfield Pension Scheme has completed a buy-in with Pension Insurance Corporation (PIC), insuring the benefits of its pensioner members.
Caroline Rookes CBE and Michele Hirons-Wood have joined The Pension Superfund's board of trustees to focus on maintaining governance standards and safeguarding member benefits.
The first specialist independent firm advising pension schemes on bulk annuities or moving to a consolidator has been set up with ambitions to shake up the market.