PIC sees rise in profits on back of new buy-in and buyout deals

Stephanie Baxter
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Pension Insurance Corporation (PIC) increased its operating profit by 200% in the first half of the year following a string of new bulk annuity contracts.

IFRS operating profit before tax rose to £105m from H1 2013 while underlying operating profit increased 59% to £54m, according to the pension scheme insurer's half yearly results published today. ...

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