The social & economic value of finance - PIC's UK footprints

Some £12bn of the assets we manage on behalf of our policyholders have been invested in socially useful direct investments in the UK ranging from social and affordable housing in Wales, to student accommodation in the South West, infrastructure investment in the North East, renewable energy off the coast of Cumbria, or urban regeneration in Liverpool.
 
As a few examples:

• a concrete impact: we estimate that PIC has helped fund the construction of enough homes to accommodate 130,000 people (equivalent to the population of Solihull), enough university accommodation for 14,000 students (the entire student population of the University of Hull), and enough renewable energy to power a city the size of Aberdeen. Building and running these projects has created tens of thousands of direct and indirect jobs across the UK
• a regional footprint: over the past decade PIC has made 23 different private direct investments in projects in the North West of England, with a combined value of more than £1.2bn. Just across the Pennines, it has made 29 investments with a combined value of nearly £1.7bn in the North East, Yorkshire and the Humber
• a local connection: nearly 15,000 of PIC direct policyholders live in the West Midlands and they have received under £1bn in pension payments from PIC over the past decade. It has nearly 17,000 policyholders in Scotland, Wales and Northern Ireland combined who have received more than £1bn in pensions
   
  A big part of New Financial’s work has focused on how the industry should develop a ‘new narrative’. 

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