EY, a multinational professional services firm has appointed Phil Vermeulen to EMEIA Insurance Leader.
Vermeulen takes over the role from Peter Manchester, who has led the European insurance business since 2017. Manchester will retire from the partnership later this year.
In his new role as EMEIA Insurance Leader, Vermeulen will hold responsibility for a quarter of EY EMEIA Financial Services revenues, which spans across 18 markets, as well as over 700 partners and 17,500 staff.
EY also confirmed that Vermeulen will play a pivotal role in the EY EMEIA Financial Services Leadership Team.
He joined EY in 2004 and made partner in 2011. He is currently the Global IFRS 17 Leader, a position he has held since 2017, and also manages one of the company’s most important insurance clients globally.
Overall, Vermeulen brings over two decades of experience within leading finance, risk, regulatory and actuarial change programmes for European insurance groups. He takes on this leadership role with both deep technical insurance expertise and broad sector knowledge.
Omar Ali, EY EMEIA Financial Services Leader, said: “I am delighted that Phil is our new European Insurance Leader, building on the growth and success of recent years. Phil has deep sector knowledge and clear leadership qualities which give me confidence he will seamlessly continue to deliver for our insurance clients.
“The European insurance market is transforming, and our European financial services business is focused on supporting our insurance clients on this journey. Phil is a proven leader and brings expertise in advising some of the world’s largest insurance groups on highly complex and strategic matters. I look forward to working closely together.
“I would also like to pay tribute to Peter for his leadership and dedication to helping our clients and our people.”
Addressing his appointment, Vermeulen added: “I am thrilled to be leading the team I joined as a junior actuary almost two decades ago. Whilst the core of EY’s talented and dedicated insurance business rightly remains unchanged, so much of what we do to support our clients innovate and achieve sustainable growth of course has.
“Now is a pivotal moment for Europe’s insurers, operating in volatile times, with large-scale transformation ahead for many. My focus will be on ensuring we meet the needs of the industry and its stakeholders, while providing exceptional opportunities for our teams to develop their skills and have impact.”
