EY has appointed Phil Vermeulen to EMEIA Insurance Leader, effective 1st July 2023. Phil takes over from Peter Manchester, who has led the European insurance business since 2017, in which time EY has become a market-leader in European insurance and achieved record revenue growth. Peter will retire from the partnership later this year.
Phil 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 manages one of the firm’s most important insurance clients globally. With over 20 years of experience leading finance, risk, regulatory and actuarial change programmes for European insurance groups, Phil takes on this leadership role with both deep technical insurance expertise and broad sector knowledge.
As EMEIA Insurance Leader, Phil will be responsible for a quarter of EY EMEIA Financial Services revenues, which span 18 markets, and over 700 partners and 17,500 staff. Phil will also play a key role in the EY EMEIA Financial Services Leadership Team.
Commenting on Phil’s appointment, 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.”
Commenting on his appointment, Phil Vermeulen said: “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.”