Who we are

PIC is an established, leading player in the specialist UK bulk annuity market

• We only insure UK defined benefit pension scheme liabilities
• We pride ourselves on superior client service for policyholders, trustees and pension fund sponsors
• We are able and willing to price and structure transactions that meet client needs
• We offer innovation and flexibility to deliver to specific client requirements
• Our continued success in writing new transactions reflects confidence shown by trustees and sponsoring companies in the  strength of PIC’s balance sheet 
• We have a robust approach to risk management 

 New business success:

• £31.4bn of financial investments at year-end 2018, c.28% share of buy-in/buyout sector long term
• 192,100 pension fund members insured
• More than 180 pension funds insured including two of the largest full buyouts in the UK
• We have successfully completed pension insurance buyouts and buy-in transactions for clients including: 

  

“We are delighted to have secured the benefits for all members in full with an established, UK regulated insurance company. The Trustee is grateful to its various advisers for preparing the Fund to achieve this full buy-in, and to PIC for dealing with the transaction so efficiently.”

Ian Forrest Chairman of the Trustee, Former Registered Dock Workers Pension Fund, 2017

  

  

  

   Other key points to note:  

• No legacy business lines or product exposures
• Conservative investment portfolio with ALM focus
• Hedging of interest, inflation and currency risks and reinsurance of majority of longevity risk
• Efficient operating model with substantial economies of scale 
• Fit-for-purpose IT and specialised processes

 

Satisfied PIC policyholders “This is about the 4th or 5th time I’ve been in contact and every time the service has been excellent.” “It is a pleasure to deal with such a helpful and efficient company.” “Pension Insurance Corporation are first class...You are clearly leaders in a competitive market. I will recommend you to other people.” “I have always had excellent service from your staff. I can only thank you and your staff for the way they have looked after me.” “Very happy with all the communication that I’ve had with Pension Insurance Corporation, very satisfied to know that the pension is in good hands, thank you.”