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PIC, a specialist insurer of defined benefit pension funds, has made three new key appointments in its Origination team.
Commenting, Mitul Magudia, Co-Chief Origination Officer at PIC, said: “I’m delighted we have been able to recruit three individuals who are widely respected across our industry. The bulk annuity market continues to thrive, with many commentators anticipating market volumes over £50bn this year. With these new hires and the nine internal promotions we announced last month, we are committed to making sure we have the capacity, expertise and thought leadership to continue to deliver strong growth and innovative solutions to our clients.
The appointees include (pictured left to right):
Tom Seecharan, Co-Head of Origination, who joined PIC from Rothesay’s business development team. Tom has a wealth of experience in the bulk annuity space and over 20 years in the pension industry, including previous experience leading KPMG’s Pension Risk Settlement team.
Matt Richards, Head of Origination Structuring, rejoins PIC having worked at Phoenix Group as a senior business development actuary in the bulk annuity team for the past two and a half years. Matt has 15 years’ experience in the pensions and insurance industry and experience of working on several ground breaking bulk annuity transactions.
Louise Nash, Origination Actuary, who joined PIC from WTW’s Pensions De-risking team. Louise has 14 years’ experience advising defined benefit pension schemes on bulk annuity transactions and longevity risk management, working with trustees and sponsors to develop their strategies.
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For further information please contact:
PIC
Clive Booth
+44 (0) 7780 599247
boothc@pensioncorporation.com
Apella Advisors
Arne Wysny
+44 (0) 7818 497469
PIC@apellaadvisors.com
About PIC
The purpose of PIC is to pay the pensions of its current and future policyholders. PIC provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. At half year 2023, PIC had insured 339,900 pension scheme members and had £44.9 billion in financial investments, accumulated through the provision of tailored pension insurance buyouts and buy-ins to the trustees and sponsors of UK defined benefit pension schemes. PIC has made total pension payments of almost £12 billion to its policyholders. Clients include FTSE 100 companies, multinationals and the public sector. PIC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (FRN 454345). For further information please visit www.pensioncorporation.com
