PIC agrees £1.2bn longevity reinsurance deal with SCOR

Holly Roach
clock • 1 min read

Pension Insurance Corporation (PIC) has reinsured £1.2bn of its longevity risk with French company SCOR, the second deal between the two insurance companies.

PIC said the deal covers the longevity risks for around 8,000 retirees and their spouses across six defined benefit pension schemes. PIC's longevity reinsurance business volumes currently exceed...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Risk Reduction

UK and US pension risk transfer market to exceed £250bn in next three years

UK and US pension risk transfer market to exceed £250bn in next three years

UK volumes for 2024 ‘likely to exceed’ the £40bn achieved last year as market scales up

Jonathan Stapleton
clock 06 September 2024 • 2 min read
Coats UK scheme secures £1.3bn buy-in deal with PIC

Coats UK scheme secures £1.3bn buy-in deal with PIC

Scheme’s second buy-in transaction secures the benefits of 18,042 members

Holly Roach
clock 04 September 2024 • 2 min read
Updated: The biggest buy-ins and buyouts since 2007

Updated: The biggest buy-ins and buyouts since 2007

Professional Pensions rounds up the largest block transfers of liabilities to insurers

Professional Pensions
clock 04 September 2024 • 1 min read
Trustpilot