PIC operating profits hold up despite drop in business

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Operating profits at Pension Insurance Company rose in the first six months of the year, despite a 62% drop in new business for the bulk annuity provider.

The insurer's half-year results, published yesterday, show it clinched £702m worth of deals in the first half of 2015, after securing £1.9bn of new business in the equivalent period last year. W...

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