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PIC to raise debt capital to back booming bulk annuity business
Pension Insurance Corporation (PIC) has announced plans to raise further debt capital in order to support business growth in a burgeoning bulk annuity market.
PIC signs £5.8bn of bulk annuity business in H1
Pension Insurance Corporation (PIC) has so far racked up £5.8bn of buyouts and buy-ins with defined benefit schemes this year, while reinsuring £7bn of longevity risk, it has revealed.
Five stories you may have missed this week
This week's top stories included The Pensions Regulator criticising Sir Philip Green's latest plans for the Arcadia pension schemes.
M&S completes £1.4bn buy-ins with Phoenix and PIC
The Marks and Spencer Pension Scheme has completed buy-in deals worth £1.4bn with two insurers, mirroring similar transactions last year.
PIC invests £40m in Northamptonshire housing
Pension Insurance Corporation (PIC) has entered into a £40m agreement with Greatwell Homes to support the development of 600 affordable homes in Northamptonshire.
PIC invests £65m in affordable homes
Pension Insurance Corporation (PIC) has entered a £65m agreement with Livin Housing to develop affordable housing in County Durham.
PIC posts £7.1bn of bulk annuity deals in 2018 taking nearly a third of the market
Pension Insurance Corporation's (PIC) bulk annuity business transacted £7.1bn of buy-ins and buyouts over the course of 2018, its annual results reveal.
The problem with DB superfunds
As the consultation on defined benefit (DB) consolidation closes this week, PIC's Jay Shah sets out his concerns about the superfund model
PIC invests £125m in Exeter university accommodation
Pension Insurance Corporation (PIC) has boosted its investment in student accommodation in a £125m further allocation to the University of Exeter.
PIC agrees £1.2bn longevity reinsurance deal with SCOR
Pension Insurance Corporation (PIC) has reinsured £1.2bn of its longevity risk with French company SCOR, the second deal between the two insurance companies.
Rentokil Initial agrees £1.5bn buy-in with PIC ahead of 2020 buyout
The Rentokil Initial 2015 Pension Scheme has secured a buy-in covering 14,200 members in a £1.5bn deal with Pension Insurance Corporation (PIC).
AMP launches second year of female actuarial mentoring scheme
The Actuarial Mentoring Programme (AMP) has launched its second year of providing support and guidance to female professionals with an 80% increase in participating organisations.
PIC racks up £4.5bn of bulk annuity business in 'best ever' year so far
Sales in Pension Insurance Corporation's (PIC) bulk annuity business rose by 73% compared to the same period last year, its half-year results have revealed.
How the BHS successor scheme completed an £800m buyout
Over two years since the collapse of the high street giant, BHS pension scheme members will be able to put their anxieties to rest thanks to a bulk annuity deal. James Phillips explores the detail.
Five stories you may have missed this week
This week's top stories included the 'Buck' name being revived as Conduent sold off the HR consulting business to a private equity investor.
Menzies scheme agrees £75m buyout with PIC
The Menzies Pension Fund has entered into a £75m buyout with Pension Insurance Corporation (PIC) through a bespoke deal involving payments in instalments.
New BHS scheme completes £800m buyout with PIC
Approximately 9,000 members who transferred to the BHS2 Pension Scheme last year have had their benefits fully insured through a buyout with Pension Insurance Corporation (PIC).
Bulk annuity market in record-breaking first half
Around £8bn of buy-ins and buyouts were completed in the first half of this year, writing the highest volume of deals of any first half to date.
PIC invests £150m in Heathrow Airport debt
Pension Insurance Corporation (PIC) has invested £150m in debt issued by Heathrow Airport.
Civil Aviation Authority completes £60m pension buy-in with PIC
Pension Insurance Corporation (PIC) has completed a £60m buy-in deal for the Civil Aviation Authority's defined benefit (DB) scheme.
PIC invests £37m in student accommodation debt
Pension Insurance Corporation (PIC) has invested £37m in a student accommodation project at the University of Exeter to help match its liabilities and give regular cashflows.
600 Group enters £201m buyout with PIC
Trustees of the 600 Group's defined benefit (DB) pension scheme have agreed to a £201m buyout with Pension Insurance Corporation (PIC).
IET pension scheme completes £50m buy-in with PIC
The Institution of Engineering and Technology (IET) pension scheme has insured £50m of pensioner liabilities through a buy-in with Pension Insurance Corporation (PIC).
Five stories you may have missed this week
This week's top stories included coverage of the Court of Appeal's judgment in the latest instalment of British Airways' five-year battle with its trustees.
