How we work

We tailor our insurance solutions to meet trustee and sponsor requirements. Our pension insurance-based offering is centred around what our clients need, rather than a line of products.

We are able to act as quickly as clients dictate and offer transactional flexibility and certainty around pricing where clients require it.

A pension fund deficit need not be a barrier to securing pension benefits through insurance. We can help by considering insuring liabilities in tranches, deferring premia, using corporate assets or even having loans or shares in the sponsor, all within a pension insurance transaction.

We offer innovative solutions to seemingly intractable problems, facilitating the securing of pension promises at an affordable cost. We have also enabled the provision of benefit improvements to scheme members. PIC has insured pension funds from £10 million upwards including, at £1.1billion, the largest pension insurance buyout to date.

We work with trustees to track the affordability of pension insurance for their pension fund and can rapidly transact. This allows clients to take advantage of favourable market conditions and obtain best insurance pricing.

Post-transaction, our transition managers liaise with clients as often as is required to ensure the project is running smoothly and the developments meet their needs.

We seek to provide the best policyholder experience in the industry and this is a key area of focus for the whole company, including the Board, led by Sir Mark Weinberg. We use the FSA's Treating Customers Fairly (TCF) principles as a basis for our customer service, but aim to go far beyond this in caring for our policyholders. Indeed, the Board takes an active and ongoing interest in administration performance and member/policyholder experience.

"We have been delighted to work with PIC to implement an innovative long-term solution to the Scheme for the benefit of the members."

Mark Bower, Company Secretary, Arnold Laver, September 2010