London-based, specialist insurer of defined pension funds Pension Insurance Corporation (PIC) has announced the appointment of Dominic Veney as its new Chief Actuary and member of the senior management team.
Responsibilities include leading the actuarial team at PIC, providing the regular reporting and analysis of the company’s financial performance across all solvency and shareholder metrics, including the calculation and analysis of both the technical provisions and the capital requirements using the agreed internal model. Veney, who takes over from current Chief Actuary Jim Collins, will deputise for the CFO as appropriate.
Most recently a partner at multinational professional services network PwC, where he led it’s U.K. life actuarial team of more than 100 staff, Veney brings 20 years’ experience in the life insurance industry to the role.
Commenting on the appointment, Chief Financial Officer (CFO) at PIC, Rob Sewell, said, “We are thrilled that Dominic has accepted the position of Chief Actuary at PIC, an important role within the company. As we continue to insure increasing amounts of defined benefit pension fund liabilities we will benefit from Dominic’s considerable experience, technical capability and passion for excellence. I’d like to thank Jim for his very valuable contribution to PIC over the last seven years and for his dedication and commitment to the company.”
Dominic Veney, added, “I am delighted to be joining PIC as Chief Actuary. PIC has an impressive growth track record and the company’s prospects within a dynamic and competitive industry are bright. The actuarial function is integral to the success of the firm and I am excited to have such a hands-on role in shaping the future of the company. I look forward to working closely with Rob and the team.”
