PIC reports £3.5bn of bulk annuities as adjusted profit plummets by 70%

James Phillips
clock • 2 min read

Pension Insurance Corporation (PIC) Group secured £3.5bn of defined benefit (DB) scheme liabilities throughout the first half of the year, although adjusted profits fell by nearly three-quarters.

The insurer completed five buy-in or buyout transactions in the six months to 30 June. Although the total volume was markedly down on last year, when £6bn of deals were completed in the first half,...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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