PIC’s investment portfolio rises to £46.8bn

Pension Insurance Corporation's (PIC) investment portfolio rose to £46.8bn in 2023, up from £41.2bn a year earlier, its latest financial results have shown.

A total of £29bn was invested in the UK as at year end 2023, with the insurer also investing £1.6bn in privately sourced UK debt investments during the year. Furthermore, a total of £13bn in UK infrastructure was also invested.

A year-end solvency ratio of 211 per cent was recorded, and during the first two months of 2024, PIC completed £1.5bn of new business, with an industry pipeline of £50bn expected to complete this year.

PIC CEO Tracy Blackwell said: “PIC is well positioned to fulfil its purpose, which is to pay the pensions of its current and future policyholders, as well as to play a leading role in the future growth of the UK pension risk transfer market.”

This article originally appeared on our sister title, Insurance Asset Management.

Share Story:

Recent Stories

DB risks
Laura Blows discusses DB risks with Aon UK head of retirement policy, Matthew Arends, and Aon UK head of investment, Maria Johannessen, in Pensions Age's latest video interview

Sustainable equity investing in emerging markets
In these highlights of the latest Pensions Age video interview, Laura Blows speaks to Premier Miton Investors fund managers, Fiona Manning and Will Scholes, about sustainable investing in equities within emerging markets

Building investments in a DC world
In the latest Pensions Age podcast, Sophie Smith talks to USS Investment Management’s head of investment product management, Naomi Clark, about the USS’ DC investments and its journey into private markets
High-yield Investing
Laura Blows discusses short duration global high-yield strategies with Royal London Asset Management head of global credit, Azhar Hussain, in the latest Pensions Age podcast