– UK, London – Pension Insurance Corporation plc (LON: 37PB), a specialist insurer of defined benefit pension schemes, today announced the appointment of David Weymouth to its Board of Directors as Chairman effective on 1 October, to replace Jon Aisbitt, who announced in January his intention to step down.
David Weymouth will also chair the Board of the parent company, Pension Insurance Corporation Group Limited.
“I am delighted that David has become Chairman of PICG and PIC. He has a terrific 45 year track record in financial services, holding senior executive and Non-Executive Director roles at significant companies. David’s experience will serve our business well as PIC continues to grow and we expand our presence across the UK,” said CEO, Tracy Blackwell.
About David Weymouth
David Weymouth has 45 years of experience across a number of sectors in financial services. During his executive career he served on the Group Executive Committees of Barclays and Royal Sun Alliance, as CIO and CRO respectively. He has previously served as Senior Independent Director on the Board of the Royal London Mutual Insurance Society, chaired the Audit Committee at Bank of Ireland UK, and the Risk Committee at the Financial Services Compensation Scheme. He has served as Non-Executive Director on boards in the public sector, the charitable sector, and in the US.
He is currently Chairman of OSB Group PLC, Mizuho International, and FIL Investment Services (UK) Limited. He is also a NED at Marsh Limited and FIL Holdings (UK) Limited.
David Weymouth commneted: “I am very excited to have the opportunity to join a growing business with such a clear commitment to focus on and provide high levels of service to the many pensioners that make up PIC’s customer base. Providing structural solutions for the challenges faced by many defined benefit trustee boards has genuine and long term social value. Opportunities to join a business like PIC with committed owners, a strong board and a highly regarded management team are rare, and I look forward to supporting all of them in the next phase of the business’s development.”
About Pension Insurance Corporation
The purpose of PIC is to pay the pensions of its current and future policyholders. PIC provides secure and stable retirement incomes through leading customer service, comprehensive risk management and excellence in asset and liability management. At 31 December 2021, PIC had insured 282,900 pension scheme members and had £51.1 billion in financial investments, accumulated through the provision of tailored pension insurance buyouts and buy-ins to the trustees and sponsors of U.K. defined benefit pension schemes. Clients include FTSE 100 companies, multinationals, and the public sector. PIC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (FRN 454345).
For more information : https://www.pensioncorporation.com/
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