PIC announces three new key recruits in Origination team

2 February 2024

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.

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 has14 years’ experience advising defined benefit pension schemes on bulk annuity transactions and longevity risk management, working with trustees and sponsors to develop their strategies.

Source: Pension Insurance Corporation