Hymans Robertson, the leading pensions and financial services consultancy, has appointed Paul Hewitson to be Head of ESG for Risk Transfer. This new role recognises the rapidly 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. Paul’s role will see him lead the risk transfer team’s comprehensive review of the ESG credentials of the eight insurance companies that offer buy-ins.

Paul 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, Paul will continue to refine insurer ESG ratings, monitor the insurers’ progress towards their Net Zero targets and continue to push the insurers to improve their ESG positions.

Commenting on what Paul will bring to the Risk Transfer team, James Mullins, Partner and Head of Risk Transfer at Hymans said:

“I know Paul will make a brilliant success of this role, combining his great personal passion for ESG investment with significant experience of advising trustees and sponsoring employers on buy-in transactions. Since joining Hymans, Paul has already be leading our comprehensive research and ratings of the insurers’ ESG credentials and I’m excited about taking this to the next level. We are helping both trustees who have already completed buy-ins to assess them as part of the TCFD requirements, and trustees who are looking to complete buy-ins to incorporate ESG credentials into their insurer selection decision.”

Commenting on his new role, Paul Hewitson, said:

“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.”