PIC appoints two new Independent Non-Executive Directors

PIC, a specialist insurer of defined benefit pension schemes, today announces that Martin Pike has joined PIC’s Board as an Independent Non-Executive Director, and that Tracey Graham has joined the Boards of PIC and PIC’s parent company, Pension Insurance Corporation Group Limited ('PICG'), as an Independent Non-Executive Director.

Martin will be a member of PIC’s Audit, Investment and Origination, and Risk committees. Tracey will be Senior Independent Director of PIC, subject to regulatory approval, and will be a member of PIC’s Audit, Customer, and Nomination committees. The appointments are effective as of 1 January 2025.

David Weymouth, Chairman of PIC said: “I am delighted to welcome Tracey and Martin to our Boards. They both have significant commercial and operational experience, together with extensive experience as NEDs, having served on Boards across a range of sectors including financial services.”

Tracey Graham said: "I look forward to working with David and the wider team to deliver the Group’s strategy and ensure the company continues to create value for all stakeholders”.

Martin Pike said: “PIC has a strong market opportunity, and I look forward to helping deliver the company’s strategic objectives within the appropriate risk framework, delivering good outcomes for our policyholders and all of our stakeholders”.    

About Tracey Graham

Tracey has extensive experience as a Senior Independent Director and Remuneration Committee Chair, and is currently the Senior Independent Director at Nationwide Building Society and a Non-Executive Director and Chair of the Remuneration Committee of Close Brothers plc.

Tracey is a former Chief Executive Officer of Talaris Limited, and has held a number of senior roles in De La Rue plc, HSBC and AXA Insurance, and has served as Senior Independent Director on the Boards of DiscoverIE plc and Ibstock plc, and as a Non-Executive Director and Remuneration Committee chair on the Boards of Royal London Mutual Insurance Society and Dialight plc. She chaired the LINK Consumer Council and was a Non-Executive Director of the LINK Scheme until December 2024.  

About Martin Pike

Martin is Chairman and joint founder at Greencore Homes Ltd, a net zero carbon and low energy residential construction business, which has grown through start up into scale up stage with external investment.

Martin has over 30 years' experience in the financial services and insurance sectors as a strategy and risk consultant, and actuary. He brings experience from previous roles at Abrdn PLC, where he was Chair of the Risk & Capital Committee and a member of the Remuneration, Audit, and Nomination and Governance Committees. Martin was also Chair of the Remuneration Committee, and a member of the Audit Committee for esure Group PLC, and also served as Chairman of Faraday Underwriting Limited and AIG Life. Martin was also previously the Managing Director, Risk Consulting and Software EMEA at Towers Watson from 2010 until 2013, having spent just under 30 years with the business.

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Notes to Editors:

1)      The Pension Insurance Corporation Group includes PICG, the group holding company; PIC, the group regulated insurer; and Pension Services Corporation Limited, the group service company

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 2024, PIC had insured 348,600 pension scheme members and had £47.7 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. At 30 June 2024, PIC had made total pension payments of £14.9 billion to its policyholders and had invested more than £13 billion in the UK economy, creating considerable social value. 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