Pension Insurance Corporation considers public funding source

Michael Bow
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PENSION Insurance Corporation, the pension scheme buyout firm, is considering tapping the public equity markets for capital to help foster its rapid rate of growth.

The company, which was set up by private equity investor Edi Truell six year ago, is thought to be considering a range of options including private investments or a float of the company to help underpin its expansion.

The insurer doubled its premiums to £1.5bn in 2012 and is on course to double them again to £3bn this year. It took a £400m investment from investors Reinet last October to help keep pace with its growth rate, giving Reinet a 43 per cent stake in the business.

Another bumper year of pension scheme buyouts next year could mean the company looks to the public market to raise capital.

The company declined to comment.