For a third year in a row, EY wins Insurance Asset Risk's Investment strategy consultant of the year award.
Judges were impressed by the Big Four firm's ability to help clients meet strategic goals in numerous areas, but particularly with asset deployment/modelling, environmental, social and governance considerations, and technology.
As in previous years, EY has helped insurance clients develop their capability to deploy into new asset classes, improving the return on shareholder funds, and allowing insurers to invest in assets which benefit society in the long term.
This work was closely aligned with key 2023 trends for UK insurers – for example, EY has advised clients on the development of novel securitisations with MA-eligible notes across a range of assets classes, and advised the capital businesses of UK insurers on options for structuring real estate assets into their MA portfolios.
Another example of success has been EY's work helping a particular insurer realise its ambition to write more bulk purchase annuity business, supporting it in designing the calibration framework for new illiquid asset classes.
Beyond the work done directly with clients, judges appreciated EY's broader contribution to the insurance landscape through regular publication of high quality and informative thought leadership on hot topics affecting its clients. Indeed, the consultancy has produced market-leading surveys on LTM assets and sustainable finance, as well as keeping the industry up-to-date with its views on the implications that regulatory changes are likely to have for its clients across both the insurance and asset management space.
Looking at 2024, from a UK BPA perspective Richard Wilson, manager for EMEIA insurance, risk and actuarial services at EY expects firms that establish themselves in a wider range of asset classes at the long-duration end of their portfolios, will be able to differentiate themselves. "There's also clearly a lot of regulatory reform on the horizon both in the UK and EU, this may open up some assets that were previously unattractive to insurers."
