TIDM37PB

RNS Number : 1734O

Pension Insurance Corporation PLC

08 February 2021

SALLY BRIDGELAND JOINS BOARD OF

PENSION INSURANCE CORPORATION

London, 8 February 2021 - Pension Insurance Corporation plc ("PIC"), a specialist insurer of defined benefit pension funds, today announces that Hon. Group Captain Sally Bridgeland has joined its Board as Independent Non-Executive Director and Chair of the Risk Committee. The appointment has been approved by the PRA. Sally replaces Steve Sarjant as Chairman of the Risk Committee following his retirement as an Independent Non-Executive Director of PIC.

At the same time, Rob Sewell, an Executive Director and Chief Financial Officer of PIC, has announced his intention to retire from the company by the end of 2021. A search for his successor is underway.

The Risk Committee provides oversight and advice to the Board on PIC's risk exposures, risk appetite, risk management and risk controls, including the effectiveness of the risk management framework.

Sally's previous executive career roles include CEO of the BP Pension Fund and various roles at Aon (formerly Aon Hewitt), including Head of the Financial Institutions Practice and Head of the Investment Consulting Practice Research Team. Sally's Non-Executive roles have included Trustee Director, Lloyds Banking Group Pensions Trustees Limited; and Trustee and Investment Committee Chair, NEST Corporation.

Sally currently holds a number of non-executive roles, including as Chair of Impax Asset Management plc; Non-Executive Director and With Profits Committee Chair at Royal London Mutual Insurance Society Ltd; and Chair of Local Pensions Partnership Investments Limited. Sally is also Honorary Group Captain, 601 Squadron Royal Auxiliary Air Force.

Jon Aisbitt, Chairman of Pension Insurance Corporation, said: "We are delighted to welcome Sally as an Independent Non-Executive Director and are sorry that Steve is retiring. Sally brings with her a wealth of experience from a long and varied career as an actuary, adviser and expert in pensions and investment. Sally's experience, perspective and strong leadership skills will be invaluable as she chairs this important Board committee.

"I also want to thank in the warmest terms the previous Risk Committee Chairman, Steve Sarjant, who has provided strong direction and oversight, and overseen its development during his tenure. Steve has served on PIC's Board since 2014, providing challenge and an outside perspective that has been invaluable over the past six years."

Sally Bridgeland, Independent Non-Executive Director at PIC, said: "PIC sets a high benchmark in the pension risk transfer industry because the company is focused on its purpose. PIC's approach to risk management is dictated by this focus and I am delighted to be chairing the Risk Committee and joining the wider Board."

- Ends -

Notes to Editors:

For further information please contact:

   Pension Insurance Corporation        Jeremy Apfel                           +44 (0)20 7105 2140

apfel@pensioncorporation.com

Teneo Douglas Campbell +44 (0)20 3757 9231

douglas.campbell@teneo.com

About Pension Insurance Corporation

The purpose of Pension Insurance Corporation ("PIC") plc 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 half-year 2020, PIC had insured 237,600 pension scheme members and had GBP47.7 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 further information please visit   www.pensioncorporation.com

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February 08, 2021 04:30 ET (09:30 GMT)

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