Vermeulen succeeds Peter Manchester, who has been at the helm of EY’s European insurance business since 2017 and will retire from the partnership later this year.

In his new role as EMEIA Insurance Leader, Vermeulen will assume responsibility for a quarter of EY EMEIA Financial Services revenues, covering 18 markets and overseeing more than 700 partners and 17,500 staff. EY has also confirmed that Vermeulen will play a crucial role in the EY EMEIA Financial Services Leadership Team.

Vermeulen, who joined EY in 2004 and became a partner in 2011, currently serves as the Global IFRS 17 Leader, a position he has held since 2017. Additionally, he manages one of the company’s key insurance clients globally. With over two decades of experience in leading finance, risk, regulatory, and actuarial change programs for European insurance groups, Vermeulen brings a wealth of expertise and a deep understanding of the sector to his new leadership role.

Omar Ali, EY EMEIA Financial Services Leader, expressed his delight at Vermeulen’s appointment, emphasizing his confidence in Vermeulen’s ability to continue delivering exceptional service to EY’s insurance clients. Ali stated, “Phil has deep sector knowledge and clear leadership qualities which give me confidence he will seamlessly continue to deliver for our insurance clients. The European insurance market is transforming, and our European financial services business is focused on supporting our insurance clients on this journey.”

Vermeulen, thrilled about his new role, reflected on his journey within the company, mentioning that he started as a junior actuary almost two decades ago. Recognizing the evolving landscape of the insurance industry and the challenges faced by European insurers, he expressed his commitment to meeting the industry’s needs and providing exceptional opportunities for the development of EY’s teams.

The appointment of Phil Vermeulen signifies EY’s continued dedication to serving its insurance clients with innovative solutions and supporting them through transformative times. The company also acknowledged Peter Manchester for his leadership and contributions to EY’s clients and employees.

As Vermeulen takes the reins as EY EMEIA Insurance Leader, industry observers anticipate his strategic guidance and extensive expertise to shape the future of the firm’s insurance operations in Europe.