Daniel Becker, head of insurance investment and ALM at Hymans Robertson, explains the consultancy's expertise in the insurance asset management sector, and why there are plenty of positive signs for the insurance sector in 2021
Investment strategy consultant of the year - Hymans Robertson
The sudden grinding halt, if not reversal, that happened last year, both financially and socially, has meant quick adaptations were needed to ensure the world kept turning. This was no different in the insurance and investment industries.
Hymans Robertson acclimatised itself to the new environment and continued to provide for its clients by setting up virtual events, quarterly newsletters and virtual discussion forums for chief actuaries and with-profit actuaries, which received high attendance rates.
Taking its annual seminar online, with a session dedicated to investment and liability management, meant a wide range of people could attend. More than 800 people registered for the event including from Pension Insurance Corporation and Phoenix Group.
The consultancy also supported its clients by helping them with the implications of environmental, social and governance risks, formulating plans to address the financial risks from climate change, and by tackling the effects of COVID-19 on private asset remediation plans.
For example, following the first UK lockdown, a large annuity writer requested help in dealing with requests from borrowers seeking forbearance.
Even against the backdrop of the pandemic, the insurance investment team continued developing various firms' annuity investment strategies, including by developing their understanding of potential new asset classes and innovative structuring arrangements for MA-eligibility.
All of these efforts meant Hymans Robertson was the judges' choice for investment strategy consultant of the year.