Gill to Head New Ernst & Young UK Run-off Operation

Kevin Gill joins Ernst & Young as lead partner for the firm’s newly-created insurance run-off team. Based within the firm’s Financial Services’ transaction advisory services practice in London, he will be responsible for building Ernst & Young’s existing capabilities in this important area of the insurance and reinsurance markets and growing the team.

Gill recently worked in his own consultancy where he developed and advised underwriters and brokers on dealing with their legacy businesses. Prior to this, he spent 18 years – most recently as director – at PricewaterhouseCoopers, where he specialized in non-life insurance and in the restructuring and insolvency of underwriters and intermediaries.

The bulletin noted that he has “advised many companies on using schemes of arrangement to bring finality to their run-off, including advising the major solvent participants in the successful Willis Faber Underwriting Management underwriting pools scheme.”

Will Bridger, lead partner for Ernst & Young’s insurance transaction advisory services, praised Gill’s “wealth of experience, not just in dealing with underwriter legacy, but also in restructuring other financial services entities such as intermediaries.”

Gill indicated that “changes in European Union regulations provide opportunities for European insurers to restructure their businesses to make better use of their capital. I am looking forward to further advising Ernst & Young clients on ways to restructure their businesses to ensure they get the best value from their capital.”

Source: Ernst & Young – http://www.ey.com