Global management consulting firm L.E.K. Consulting has announced the appointment of Justin Balcombe as a partner to co-head the firm’s Insurance practice.
Based in London, he joins L.E.K. from Oliver Wyman, where he was a partner in its global insurance practice.
At L.E.K., Balcombe will lead insurance practice alongside partner Ashish Khanna.
Balcombe has over three decades of experience in the insurance industry and advises CEOs, company boards and senior management teams on strategy, performance, business transformation and innovation.
Previous positions include Managing Director at Boston Consulting Group (BCG), UK Head of General Insurance at KPMG, Insurance Market Segment Leader at EY, Head of the Insurance and Professional Services Practice EMEA at 3i Infotech, and Global Head of Underwriting at Xchanging.
He has experience across the insurance value chain, including personal, large commercial and speciality lines, life, re-insurance, technology and claims management.
“Justin is one of Europe’s leading consultants in insurance and brings a vast amount of experience advising senior management on their complex strategic issues,” said Clay Heskett, head of L.E.K. Consulting’s Europe region.
“We are delighted that he has joined the firm and look forward to working with him as he expands our insurance practice.”
Justin Balcombe, partner and co-head of L.E.K. Consulting’s Insurance practice, also commented: “The insurance industry faces enormous challenges, from the impact of the COVID pandemic, to regulation, the ESG agenda, digitisation and consolidation, and L.E.K. is a go-to adviser for insurers and their suppliers to turn to. The firm has a stellar reputation for its strategic advisory work, and I am excited to become part of the team.”
