Pension Insurance Corporation plc (PIC)

Pension Insurance Corporation was incorporated in 2006 and is headquartered in London. It became Athora’s UK insurance business following the completion of Athora’s acquisition of PIC Group on 27 March 2026, while continuing to operate under the PIC brand.

PIC provides pension risk-transfer solutions, including buy-ins and buyouts, to trustees and sponsors of UK defined benefit pension schemes. Its core role is to take responsibility for members’ future retirement payments and manage the associated insurance, investment and longevity risks.

PIC is especially strong in large-scale pension transactions, long-term asset-liability management and investment in UK housing, infrastructure and other private assets. In 2025 it completed 26 transactions, including a £4.3 billion Rolls-Royce buy-in, and reported a 99% customer-satisfaction rating.