LONDON, 13th June 2014 - KPMG’s UK pensions practice has recruited Adam Davis, formerly head of pricing and product development at Metlife UK, as a senior member of its Insurance Solutions leadership team. The Insurance Solutions team advises trustees and companies on de-risking their pension schemes via bulk annuity buy-out and buy-in transactions. Adam joined the firm at the start of June and is based in its Manchester office.
KPMG Pensions’ Insurance Solutions team of over 30 experienced bulk annuity transaction professionals is a key part of KPMG’s wider UK pensions advisory practice which comprises of over 450 pensions professionals who are actuaries, accountants, CFA or Pension Management Institute qualified.
Adam Davis is an experienced professional in the pensions insurance industry with a wealth of bulk annuity experience. From 2007 until this year, Adam was an instrumental figure in building Metlife’s UK bulk annuity business from scratch to a market leading provider with approximately £2.5bn of assets under management. A Fellow of the Institute of Actuaries, Adam has a detailed understanding of insurance regulation and the drivers of bulk annuity pricing. He has led more than 50 completed bulk annuity transactions worth over £1.5 billion as well as leading the product design and pricing of several longevity swap transactions.
Paul Cuff, pensions partner and head of KPMG’s insurance solutions team, said: “Adam’s appointment adds further strength to KPMG Pensions’ market leading Insurance Solutions team and we are delighted he’s decided to join us. We are seeing huge growth in the volume of bulk annuity transactions and expect this to continue. It is crucial that pension scheme trustees and sponsors get specialist and comprehensive advice during these irreversible commercial transactions. Adam will bring additional market experience and insight to our team, helping us to continue growing this part of our business.”
Adam Davis commented: “De-risking pension schemes via bulk annuity purchases is an area where specialist insurance and transaction experience is required. I am enormously excited to be making the transition from working within an insurer to working directly with trustees and sponsors as an adviser. KPMG has been at the forefront of innovation in this market and are natural advisers in this area.”
For further information please contact:
Simon Chan, PR Assistant Manager, KPMG
Tel: +44 (0) 207 694 2024
Mobile: +44 (0) 7747 564 737
KPMG Press Office: 0207 694 8773
Notes to editors.
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with approximately 11,500 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.