Hymans Robertson has appointed Paul Hewitson to the newly created role of head of ESG for risk transfer.
This role recognises the increasing importance of ESG and responsible investment considerations for trustees and sponsoring employers who have completed, or who are looking to complete, buy-in transactions.
Hewitson will lead the risk transfer team’s comprehensive review of the ESG credentials of the eight insurance companies that offer buy-ins.
Hewitson joined Hymans in February 2020 and specialises on advising trustees and sponsoring employers on risk transfer transactions, with a particular focus on buy-ins.
He has advised on buy-in transactions totalling over £3.7bn, ranging from £50m to around £1bn, since joining the firm.
In this new position, as well as taking responsibility for comprehensive ESG reviews of the insurers, Hewitson will also refine insurer ESG ratings, monitor the insurers’ progress towards net zero targets and continue to push the insurers to improve their ESG positions.
Hewitson says: “The scale of investment presents a critical opportunity for the UK to materially improve its ESG position.
“I’m keen to play a part in helping to influence the risk transfer market to capture this opportunity. The eight insurers in the buy-in market already have close to £250bn of assets under management and, given the material projected growth in demand for buy-ins, this is expected to grow to around £750bn over the next 10 years.
“We can deliver long-term benefits to both pension scheme members and our wider society by helping to influence insurer behaviours on ESG. I’m looking forward to ensuring that our advice to trustees remains at the forefront of market developments.”
