Mercer, with $442bn assets under advice, is 2024's investment consultant of the year for the continuing key role it plays in the insurance investment dialogue.

The company has developed a series of innovative solutions aimed at helping non-life insurers to optimise capital utilisation across their underwriting and investment arms. To do this, for example, Mercer has successfully collaborated with Marsh McLennan to develop a series of advanced balance sheet strategies.

On top of this, in order to remain a percipient player in the wider-insurance dialogue, in April, the company released its 2024 Insurance Survey, which highlighted themes from 80 insurance companies around the world.

Mercer's advisory services have also expanded over the years to reflect changes in the market, particularly as private credit has emerged as an asset class, and the importance of sustainability to the market has increased.

Over the past decade, private equity firms have also significantly increased their presence in the market, investing and purchasing insurance companies and managing related insurance company assets. For example, Mercer recently supported a private equity-owned insurer with independent support on asset allocation and governance, helping ensure a robust operating model and governance process.