PIC has promoted nine people to be departmental heads within its Origination, Reinsurance and Transitions teams.
As per PIC, Tristan Walker-Buckton has been named Co-Head of Origination, having formerly served as Head of Pricing. Walker-Buckton joined PIC in 2006.
Meanwhile, Peter Rennalls has been appointed Head of New Business Delivery and Solutions. Rennalls joined PIC in 2011, during which time he has reportedly been “instrumental” in many of PIC’s significant transactions. Before this, he worked at Willis Towers Watson for four years.
Richard Quintain has been promoted to Head of Pricing and Funded Reinsurance, having joined PIC directly from the University of Warwick as an Actuarial Analyst in 2011.
Elsewhere, Deepash Amin has been appointed Head of New Business Strategy. Amin holds seventeen years of experience in the pensions industry, and joined PIC in 2021 from Scottish Widows.
Rachel Jervis is set to become Head of Reinsurance Structuring. Jervis joined PIC twelve years ago, specialising in longevity risk. Before this, she was a consultant at Lane Clark Peacock.
At the same time, Jamie Funnell has been named Head of Reinsurance Strategy. Funnell joined PIC in 2018 as a Longevity Actuary from Prudential UK. Before this, he worked at Barnett Wadingham as a longevity analyst.
Ahad Malik has been named Head of Reinsurance Pricing. Formerly PIC’s Longevity Pricing Manager, Malik joined PIC sixteen years ago.
Also, Richard Seymour has been named Co-Head of Transition Management. He holds seventeen years of experience, having worked for Aviva and Capita Employee Benefits previously. Seymour joined PIC eleven years ago.
Finally, Paul Barrett is now Co-Head of Transition Management. Barrett joined PIC in 2011 from Willis Towers Watson. Before this, he worked in pension administration, operational and client manager roles for over twenty years.
PIC noted that all of the above promotions became effective on 1 January 2024.
Mitul Magudia, Co-Chief Origination Officer commented, “The promotions recognise the significant talent within the organisation and I am pleased that we have been able to promote from within and also demonstrate the potential for career growth and development at PIC.
“All of my colleagues have been at PIC for numerous years which is testament to the purpose and culture of the organisation.
I am delighted that we have been able to recognise and reward leadership talent from within our Origination, Reinsurance and Transition teams.”
“As has been widely trailed, it is anticipated that bulk annuity volumes in 2023 will exceed 2019’s record year of £43.8 billion.
Magudia concluded, “We anticipate that 2024 will be an even busier year, so I am delighted we are ready in good time, in anticipation, with experienced staff to manage the growth opportunity.”
