All Pension Insurance Corporation articles – Page 3
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News
Old British Steel scheme agrees £2bn buy-in
On the go: Thousands of steelworkers could receive a boost to their pensions after a £2bn buy-in was agreed — a first step towards a full buyout, taking the scheme out of the Pension Protection Fund.
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News
Co-op scheme completes £350m buy-in with Aviva
On the go: The Co-operative Pension Scheme has completed a £350m buy-in with Aviva, taking its total transactions this year beyond £2bn, as defined benefit schemes look to capitalise on cheaper deals amid the coronavirus pandemic.
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News
Co-op buys in £400m on back of widened spreads
On the go: The Co-operative Pension Scheme has agreed a £400m buy-in with the Pension insurance Corporation, covering the pensions of around 2,000 members.
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News
WPP shifts further £250m with PIC buy-in
On the go: Advertising giant WPP has entered a £250m buy-in contract with the Pension Insurance Corporation, adding to a £140m transaction already completed with the same insurer in 2018.
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News
Co-op buys in further £1bn of liabilities
On the go: Retail group The Co-op has secured the pensions of 7,000 defined benefit members in a bulk annuity transaction with the Pension Insurance Corporation.
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News
SSE further de-risks with £750m buy-in with PIC
On the go: The Scottish Hydro-Electric Pension Scheme – sponsored by Scottish and Southern Energy – has converted a longevity swap into a £750m buy-in contract with the Pension Insurance Corporation.
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News
LCP: Buyout deals more than double in 12 months to £34bn
On the go: The momentum in pension buy-ins and buyouts continues unabated, with a record £34bn of deals completed over the year to June 30 2019.
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News
British American Tobacco strikes £3.4bn buy-in deal
On the go: British American Tobacco's UK pension scheme has agreed a buy-in covering both pensioners and deferred members, the third largest struck to date.
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News
PIC de-risking reaches £6bn in H1 with £40bn in pipeline
On the go: The Pension Insurance Corporation has completed nine de-risking transactions totalling £6bn in the first half of 2018, a record for the company with a pipeline of new business of more than £40bn.
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News
Rumours of buyout for British Steel scheme
On the go: Trustees of the British Steel Pension Scheme are mulling a full buyout of the rescued scheme, according to reports from Sky News.
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News
PIC hails record reinsurance availability
On the go: Bulk annuity provider Pension Insurance Corporation has secured a record-breaking £7bn of reinsurance to date in 2019.
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News
600 Group completes £201m buyout with PIC
On the go: Yorkshire-based engineering firm 600 Group has finalised the buyout of its UK pension scheme liabilities with Pension Insurance Corporation.
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News
Marks & Spencer adds £1.4bn in new buy-ins
On the go: Marks & Spencer's UK defined benefit scheme has entered a £1.4bn buy-in with the Pension Insurance Corporation and Phoenix Life, bringing its total insured portfolio up to two thirds of its pensioner population.
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News
Bulk annuity volumes beat expectations with £24bn in 2018
On the go: Legal & General took the largest share of the bulk annuity market in 2018, accounting for 35 per cent of the sector, in a year when buy-ins and buyouts totalled £24bn.
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News
£7.1m bulk annuity boom for PIC
On the go: Pension Insurance Corporation saw a near doubling of new pension insurance business to £7.1bn of premiums (2017: £3.7bn), for clients including BHS, Siemens and Rentokil, its parent company's 2018 results published today revealed.
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News
PIC invests further £125m in University of Exeter
On the go: Pension Insurance Corporation has completed an additional £125m investment with University Partnerships Programme, allowing UPP to design, build, fund and operate affordable accommodation for the University of Exeter.
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News
PIC reinsures £1.2bn of longevity risk with SCOR
On the go: The Pension Insurance Corporation has finalised a £1.2bn longevity reinsurance contract with independent global reinsurance company SCOR.
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NewsRentokil announces £1.5bn buyout with PIC
Business services group Rentokil Initial has passed its £1.5bn of defined benefit liabilities to the Pension Insurance Corporation in a full buyout, adding to a record-breaking year for bulk annuity transactions.
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News
BHS successor scheme concludes buyout
On the go: The BHS2 pension scheme, which was set up in 2017 after the collapse of department store chain BHS, has completed a buyout with the Pension Insurance Corporation that will cover £800m of liabilities.
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News
PA Consulting completes full buyout with PIC
On the go: Pension Insurance Corporation has concluded a full buyout of all members of the PA Pension Scheme, covering £850m of liabilities and approximately 2,400 members.
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