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Press releases

Pension Insurance Corporation Insures 4imprint Group Pension Scheme

23rd November 2012

London, 23 November 2012 - Pension Insurance Corporation, a specialist provider of insurance solutions for defined benefit pension funds, has concluded a pension insurance buy-in with the Trustee of the 4imprint Group Pension Scheme. The transaction covers broadly £25 million of pension liabilities.  JLT, Addleshaw Goddard and KPMG advised the Trustee.

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Pension Insurance Corporation Invests £40m in Solar Plant

22nd November 2012

London, 22 November 2012 - Pension Insurance Corporation, a specialist provider of insurance solutions for defined benefit pension funds, today announces that it has completed the first ever UK publically-listed solar finance bond, investing £40 million as the sole buyer in a Solar Power Generation Ltd (“SPGL”) bond, which matures in 2036. The deal was arranged by Independent Debt Capital Markets.

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Pension Insurance Corporation Insures Booker Tate Pension Scheme

5th November 2012

London, 5 November 2012 - Pension Insurance Corporation, a specialist provider of insurance solutions for defined benefit pension funds, has concluded a pension insurance buyout with the Trustees of the Booker Tate UK Pension Scheme. The transaction covers £20 million of pension liabilities.  Barnett Waddingham LLP and Linklaters LLP advised the Trustees.

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Pension Corporation Group Completes £400 Million Fundraising - Pension Insurance Corporation Restructures Board

22nd October 2012

London, 23 October 2012 – Further to its announcement of 4 July 2012, Pension Insurance Corporation (“PIC”), a specialist provider of insurance solutions for defined benefit pension funds, today announces the completion of the transaction whereby Reinet Fund S.C.A. F.I.S. (“Reinet”), a specialised investment fund incorporated in Luxembourg, will invest up to £400 million of new ordinary capital in PIC’s parent company, Pension Corporation Group Limited (“PCGL”).

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RPI vs CPI - Magic New Formula May Lead to One Inflation Index

15th October 2012

London, 15 October, 2012 – The gap between the two most frequently used measures of inflation, RPI and CPI, has grown in recent years. Rebasing of public and some private sector pensions to CPI has been criticised in some sectors, at worst sparking national strikes over pension reform.

At the heart of the issue is the differential or “wedge” between the CPI and RPI, which has meant that for a 2% CPI target in steady state, RPI might typically be higher by about 1% per annum with this differential itself being volatile.

Download the REPORT by Redington and Pension Insurance Corporation on the possible impacts of the inflation indexation reform currently being considered.

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Pension Insurance Corporation Directly Invests £50 million in Social Housing Association

18th September 2012

London, 18  September 2012 - Pension Insurance Corporation, a leading provider of risk management solutions to defined benefit pension funds, today announces that it has directly funded Raglan Housing Association as the sole buyer of a £50 million bond issue. The funds will be used by Raglan to build new houses across the country. The transaction was arranged by Canaccord Genuity.

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Pension Insurance Corporation reinsures £300 million of longevity risk with Munich Re

30th July 2012

London, 30 July 2012 - Pension Insurance Corporation, a leading provider of risk management solutions to defined benefit pension funds, today announces that it has hedged £300 million of longevity risk through reinsurance with Munich Re, the global reinsurer. 

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Cookson Group Pension Plan completes pensioner buy-in with Pension Insurance Corporation

19th July 2012

19 July 2012

Cookson Group plc (“Cookson” or “the Company”), a leading materials science company, today announces that the Trustee of the Cookson Group Pension Plan (“the UK Plan”) has signed a pension insurance buy-in agreement with Pension Insurance Corporation (“PIC”), a leading provider of pension insurance solutions to defined benefit pension funds.  The transaction covers the UK Plan’s pensioner liabilities, approximately 60% of the total liabilities, with an insurance premium of circa £320 million met from existing assets of the UK Plan.

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Pension Insurance Corporation insures Graham & Brown Retirement Benefits Scheme

16th July 2012

London, 16 July 2012 - Pension Corporation, a leading provider of risk management solutions to defined benefit pension funds, today announces that the Trustees of the Graham & Brown Retirement Benefits Scheme (“the Scheme”) have signed a pension insurance buy-in agreement with Pension Insurance Corporation (“PIC”). The transaction uses an innovative 50% phased premium structure. The Trustees were advised by Xafinity Consulting.

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Pension Insurance Corporation insures Aon Minet Pension Scheme

9th July 2012

London, 9 July 2012 - Pension Corporation, a leading provider of risk management solutions to defined benefit pension funds, today announces that the Trustees of the Aon Minet Pension Scheme ("the Scheme") have signed a pension insurance buy-in agreement with Pension Insurance Corporation ("PIC"). The transaction covers a tranche of pensioners representing around 25% of the Scheme's pensioner liabilities, with the premium being circa £100 million. 

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Case studies

Click above for a more in-depth overview of a selection of pension insurance buyouts and buy-ins, tailored to client needs by PIC

To discuss pension risk transfer solutions, please contact:

Mitul Magudia or Uzma Nazir
+44 20 7105 2000
enquiries [at] pensioncorporation [dot] com 

Pension Insurance Corporation plc is registered in England and Wales under company number 05706720. It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (FRN 454345). Its registered office is at 14 Cornhill, London EC3V 3ND. Terms and conditions

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