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


Being retirement ready
Gavin Lewis, Head of UK and Ireland Institutional at BlackRock, talks to Francesca Fabrizi about the BlackRock 2024 UK Read on Retirement report, 'Ready or not. How are we feeling about retirement?’

Time for CDI
Laura Blows speaks to AXA Investment Managers (AXA IM) senior portfolio manager for fixed income, Rob Price, about cashflow-driven investing (CDI) in Pensions Age’s latest video interview

The role of CDC
In the latest Pensions Age podcast, Laura Blows speaks to TPT Retirement Solutions Chief Client Strategy Officer, Andy O’Regan, about the role of collective DC (CDC) within the UK pensions space
Keeping on track
In the latest Pensions Age podcast, Sophie Smith talks to Pensions Dashboards Programme (PDP) principal, Chris Curry, about the latest pensions dashboards developments, and the work still needed to stay on track

Advertisement