Pension Insurance Corporation announces new board appointments

Pension Insurance Corporation plc (PIC), an insurer of defined benefit pension schemes, has announced the appointment of Martin Pike to its Board as an Independent Non-Executive Director.

Additionally, Tracey Graham has joined both PIC’s Board and the Board of its parent company, Pension Insurance Corporation Group Limited (PICG), as an Independent Non-Executive Director.

Pike will serve on several key committees, including PIC’s Audit, Investment and Origination, and Risk committees.

Graham will assume the role of Senior Independent Director at PIC, pending regulatory approval, and will also be a member of the Audit, Customer, and Nomination committees. Both appointments are effective from 1 January 2025.

David Weymouth, Chairman of PIC commented: “I am delighted to welcome Tracey and Martin to our Boards. They both have significant commercial and operational experience, together with extensive experience as NEDs, having served on Boards across a range of sectors including financial services.”

Graham brings extensive experience as a Senior Independent Director and Remuneration Committee Chair. She currently serves as the Senior Independent Director at Nationwide Building Society and as a Non-Executive Director and Chair of the Remuneration Committee at Close Brothers plc.

Previously, Graham was the Chief Executive Officer of Talaris Limited and has held senior roles at De La Rue plc, HSBC, and AXA Insurance. She has also served as Senior Independent Director on the Boards of DiscoverIE plc and Ibstock plc, and as a Non-Executive Director and Remuneration Committee Chair on the Boards of Royal London Mutual Insurance Society and Dialight plc.

Additionally, she chaired the LINK Consumer Council and was a Non-Executive Director of the LINK Scheme until December 2024.

Graham said: “I look forward to working with David and the wider team to deliver the Group’s strategy and ensure the company continues to create value for all stakeholders.”

Pike is the Chairman and joint Founder of Greencore Homes Ltd, a net-zero carbon and low-energy residential construction business that has successfully scaled from startup to scale-up with external investment.

With over 30 years of experience in the financial services and insurance sectors, Pike has worked as a strategy and risk consultant and actuary. He has held several prominent roles, including Chair of the Risk & Capital Committee at Abrdn plc, where he was also a member of the Remuneration, Audit, and Nomination and Governance Committees.

Additionally, Pike was Chair of the Remuneration Committee and a member of the Audit Committee at Esure Group plc. He has also served as Chairman of Faraday Underwriting Limited and AIG Life.

Before his entrepreneurial ventures, Pike was Managing Director of Risk Consulting and Software EMEA at Towers Watson from 2010 to 2013, following a nearly 30-year tenure with the company.

Pike added: “PIC has a strong market opportunity, and I look forward to helping deliver the company’s strategic objectives within the appropriate risk framework, delivering good outcomes for our policyholders and all of our stakeholders.”

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