Advisory / Board Strategy, UK Subsidiary, Insurer

Our client’s parent company is a renowned U.S. Fortune 500 investment and insurance group with a prominent global footprint. As one of the largest commercial insurers in the U.S., it also operates a global specialty insurance unit that includes a UK branch and a Lloyd’s syndicate. Our project focused on the Lloyd’s syndicate, which had recently refined its portfolio to improve results and better align with the group’s strategy. With these changes in place, the syndicate was positioned for significant growth.

It was crucial for our client to chart a path towards sustainable success following a period of underperformance and re-underwriting. This meant not only avoiding potential pitfalls but also understanding growth opportunities and the strategies needed to capitalise on them. To achieve this, we structured the project into distinct phases, each designed to enhance the client’s understanding of peer successes, identify avenues for growth, and address the organisational changes necessary to pivot effectively towards a growth-oriented strategy.

• Using our market networks and research capabilities, we combined quantitative data analysis with qualitative market insights to conduct a three-phase research project.
• During the first phase, we used case studies to analyse comparable London Market and Lloyd’s insurers that have undertaken similar growth initiatives. We studied 6–10 firms, identifying successes, failures, and common trends.
• We produced a report highlighting accomplishments and deficiencies to guide strategic decision-making.
• We then assessed the client’s current portfolio to identify growth opportunities in existing or new classes of business. We evaluated 12–15 classes to analyse potential income, distribution, talent needs, and risks for each class.
• A detailed critique provided recommendations on the viability and requirements for expanding into specific classes.
• In the final phase, we optimised the business model to prepare the company for rapid growth.
• We analysed the business model and structural adaptations, identifying key functional upgrades, skill sets, and leadership behaviours critical for success.
• We compared job roles and requirements for a business twice the current size to guide leadership assessment and development.
• Our report detailed essential changes to the business model and leadership framework.

The outcomes of each project phase were reviewed with client executives. This approach kept the project on track, adapting to emerging needs and allowing insights to be applied swiftly to daily operations.

The class of business insights either validated or challenged the client’s understanding and expectations, resulting in strategic adjustments or affirmations as needed. Additionally, the insights into infrastructure, organisational structure and personnel requirements highlighted fundamental challenges for a business transitioning to growth. These critical recommendations were designed to be integrated as the strategy evolved, supporting long-term success.