The UK’s Pension Insurance Corporation (PIC) is predicting a pension risk transfer (PRT) market of £30bn over the next year.
In its update on the market following the recent volatility, the PIC said that net business premiums during 2022 have been £3.4bn (HY2022: £2.4bn), with a short-term pipeline of £10bn, and an immediately addressable market of new business of an additional £20bn, potentially covering the benefits of 250,000 people.
