EY selects Phil Vermeulen as EMEIA Insurance Leader
Big Four firm EY has announced the promotion of Phil Vermeulen to head up its EMEIA insurance practice. He joined the firm close to two decades ago, and has been a partner for half of that time.
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.”
As EY’s new insurance leader for the Europe, Middle East, India and Africa (EMEIA) region, Vermeulen will be responsible for a quarter of EY’s EMEIA financial services revenues, which span 18 markets. Leading a team of over 700 partners and 17,500 staff, his focus will be on ensuring the firm meets the needs of the industry and its stakeholders, while providing opportunities for its teams to develop their skills and have impact.
Vermeulen joined EY in 2004, and was promoted to partner in 2011. Since 2017, he has held the position of EY’s global IFRS 17 leader, 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, he takes on this leadership role – as well as in EY’s EMEIA financial services leadership team – in with both deep technical insurance expertise and broad sector knowledge.
The appointment follows the stepping down of Peter Manchester. He had led the European insurance business since 2017, in which time EY has become a market-leader in European insurance and achieved record revenue growth. Manchester will retire from EY’s partnership later in 2023.
Commenting on the news, Omar Ali, the financial services leader of EY EMEIA, added, “Phil has deep sector knowledge and clear leadership qualities which give me confidence he will seamlessly continue to deliver for our insurance clients. 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.”
