Pension Insurance Corporation breaks records

Pension Insurance Corporation (PIC) has had a big first half.This has been a record-breaking first half for PIC both in terms of the amount of new business transacted and longevity risk re-insured, said chief origination officer Jay Shah, whose firm so far this year has reinsured £7 billion of longevity reinsurance and concluded £5.8 billion of buyouts and buy-ins with the trustees of defined benefit pension schemes.

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