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PIC's Tracy Blackwell: Helping make a difference to society
Pension Insurance Corporation (PIC) chief executive Tracy Blackwell was named pensions woman of the year at the third annual Women in Pensions Awards. She speaks to Professional Pensions about winning the accolade.
PIC invests £80m in North East social housing project
Pension Insurance Corporation (PIC) has completed an £80m debt investment in a refinancing exercise that will deliver 600 new social affordable homes in the North East.
Brunel invests £840m in in clean infrastructure; PIC appoints municipal bond manager
Brunel Pension Partnership has launched two investment vehicles to target infrastructure assets that meet Paris Agreement objectives for its partner funds.
PIC invests £40m in London property development
Pension Insurance Corporation (PIC) has invested £40m in debt issued by the Royal College of Surgeons in England to finance the redevelopment of its London headquarters.
Old British Steel scheme completes £2bn buy-in with PIC
The Old British Steel Pension Scheme (OBSPS) has agreed a £2bn full buy-in with Pension Insurance Corporation (PIC), one step closer to exiting Pension Protection Fund (PPF) assessment.
PIC reports £3.5bn of bulk annuities as adjusted profit plummets by 70%
Pension Insurance Corporation (PIC) Group secured £3.5bn of defined benefit (DB) scheme liabilities throughout the first half of the year, although adjusted profits fell by nearly three-quarters.
PIC invests £130m in central Manchester build to rent housing regeneration project
Pension Insurance Corporation (PIC) has acquired a prime city-centre site in Manchester as the location for its first build to rent (BTR) project, investing £130m to fund the construction of 520 residential apartments, over 6,000 square feet of commercial...
Edi Truell: My response to calls for a consolidator to take on smaller underfunded schemes
The Pension SuperFund co-founder Edi Truell responds to PIC’s call for a consolidator to take on smaller underfunded schemes.
PIC calls for creation of compulsory not-for-profit consolidator to take on smaller underfunded schemes
Pension Insurance Corporation has reiterated its call for the establishment of a new consolidation vehicle, run by a not-for-profit agency, to target smaller underfunded schemes with weak sponsors.
MetLife reinsures £280m of PIC liabilities
MetLife has completed its first UK longevity reinsurance transaction, covering the risk of £280m of Pension Insurance Corporation (PIC) liabilities.
PIC invests £277m in Spanish solar bonds
Pension Insurance Corporation (PIC) has provided £277m of debt funding for eight Spanish solar parks.
Agreeing bulk annuities in a crisis
After a bumper year, insurers are now facing a slower and smaller pipeline as schemes grapple with Covid-19, writes James Phillips.
A safe harbour: How the Dock Workers Pension Fund reached buyout
Key players in the Dock Workers Pension Fund tell James Phillips the tale of getting to endgame ahead of plan
PIC insures £400m of liabilities in Co-op's third buy-in of 2020
The Co-operative Pension Scheme (Pace) has agreed its third buy-in this year, insuring £400m of liabilities in the Co-operative Bank section of the scheme with Pension Insurance Corporation (PIC).
PIC completes £250m buy-in with two WPP schemes
Multinational communication services giant WPP has completed a £250m buy-in for two of its pension schemes with Pension Insurance Corporation (PIC) as the insurer celebrated a “healthy pipeline” of deals amid the Covid-19 outbreak.
PIC to invest £190m in solar bond investment
Pension Insurance Corporation (PIC) will provide €220m (£190m) of debt funding for 21 solar parks in southern Spain, adding to the £700m it has invested in the renewables sector to date.
Co-op scheme agrees £1bn buy-in with PIC
The Co-operative Pension Scheme (Pace) has agreed a £1bn buy-in with Pension Insurance Corporation (PIC), insuring benefits for around 7,000 members.
MNOPF completes £1.6bn buy-in with PIC
The trustees of the £3bn Merchant Navy Officers Pension Fund (MNOPF) have secured £1.6bn of members’ pension benefits through a buy-in transaction with Pension Insurance Corporation (PIC).
PIC posts record year for bulk annuities
Pension Insurance Corporation (PIC) insured £7.2bn of scheme liabilities over the course of 2019, recording more new business than in any year prior.
Five stories you may have missed this week
This week’s top stories include an article about women remaining at risk of running out of money in retirement, and one about Buck winning 36 additional client contracts since launching as an independent business last year.
PIC invests £250m in City of London Corporation
Pension Insurance Corporation (PIC) has invested £250m in debt issued by the City of London Corporation for a series of development projects in the capital.
PIC invests £195m in Glasgow city properties
Pensions Insurance Corporation (PIC) has invested £195m of debt finance in Glasgow City Council Group subsidiary, City Property Glasgow.
PIC invests further £40m in housing association
Pension Insurance Corporation (PIC) has boosted its investment in social housing with a £40m further allocation to Soha Housing.
How BAT's buy-in has paved the way for future deals
Following British American Tobacco's £3.4bn buy-in this month, Kim Kaveh speaks to some of the key players about the process.
