The purpose of Pension Insurance Corporation plc ("PIC") is to pay the pensions of its policyholders. At year-end 2018, PIC had insured 192,100 pension scheme members and had £31.4 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. 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
02 May 2019 19:00
27 Poultry, London, EC2R 8AJ, England, United Kingdom Google Maps
mallowstreet University Dinner: Navigating the Road to Buyout - PIC
As pension funds map out their ‘end game’, many are working out how to fully transfer their liabilities to an insurer. We will specifically cover:
• How to structure a portfolio – what types of assets are attractive to an insurer
• What makes an insurer take one process more seriously than another?
• Are there times where you can secure better pricing than others?
• Should you use new advisers to help run your process?
This dinner is available exclusively for pension fund decision makers and their advisors and is eligible for CPD accreditation.
Mitul heads the Business Development division at Pension Insurance Corporation with responsibility for new transactions. Mitul, a qualified actuary, joined PIC at its outset, 10 years ago, and has been instrumental in building the business from a start-up insurer to a market leader in the bulk annuity sector with over £25bn of assets.
During that time, PIC has completed over 150 transactions and Mitul has led a number of high profile cases including the largest full buyout of a UK pension scheme, the £2.4bn settlement of the Philips UK Pension Fund and the second largest pensioner buy-in, the £1.7bn Total Pension Scheme transaction. He has also been involved in a number of innovative and pioneering transactions with a range of different organisations including FTSE100 companies, multinationals, charities and quasi-public sector groups
Jay heads our Origination team and has led a number of pension insurance transactions, for example, £500m and £200m bulk annuity buy-ins for the Cadbury scheme and London Stock Exchange schemes respectively. Jay was previously actuarial adviser and Director of Corporate Finance at PricewaterhouseCoopers and then Corporate Development Director at Prudential UK where he led on £1bn bulk annuity transfers from other insurers. More recently he was founder and Board member of the specialist bulk annuity insurer, Synesis Life, which is now part of Pension Insurance Corporation. Jay has 25 years of experience in the insurance and pensions sector having qualified as an actuary in 1991.