I worked on two core elements of the strategy development process with the team: an internal portfolio review and an external valuation analysis.
For the portfolio review, we developed a series of business unit factbooks that assessed portfolio composition, underwriting performance and strategic positioning. Each business was benchmarked against a selected group of global insurance peers and evaluated through a structured assessment of its strengths, weaknesses, opportunities and threats. The objective was to create a consistent fact base that could be used to support strategic decision-making across the group.
Alongside this, we conducted detailed analysis to understand which characteristics investors value most. This involved building a peer dataset covering a decade of financial and market performance, and examining the relationship between valuation and factors such as profitability, return volatility, portfolio mix, distribution strategy, geographic footprint and capital structure.
As part of the project, we travelled to New York to work directly with business and underwriting leaders. These sessions helped challenge and refine the analysis, combining quantitative insight with the practical experience of those responsible for managing the portfolios day to day.
The work culminated in a board-ready strategy presentation that set out where value was being created across the portfolio, and the actions required to strengthen it. It helped leadership align around a set of strategic priorities: maintaining strong returns, protecting the group's most successful underwriting portfolios, and building a track record of consistent performance.
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Tom Munns,
Senior Consultant