The country's largest investment consultant has named a new head of insurance strategy to lead expanded insurance advisory services across the sector.
JANA announced Greg Wilkinson will be taking on the newly created role, having been promoted from within to lead the servicing of the insurance client base.
JANA said the newly created role will help lead a significant expansion of the firm's advisory services.
JANA chief executive Jim Lamborn said demand for its services had been growing across the insurance sector and the new role would provide additional, specialised support to clients.
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"Greg's appointment will enhance our capability to provide support and solutions for our insurance clients," Lamborn said.
"It will enable our clients to benefit from the depth of JANA's expertise and deliver stronger investment results."
JANA said the expansion of its insurance focus is in response to the increasingly complex needs of the sector, which is facing lower premium revenue and increased potential claim experience.
It said these challenges are exacerbated by COVID-19 leading to further reductions in forward-looking returns from many asset classes.
"This is particularly pertinent for insurers who rely on investment returns from traditional defensive assets, such as fixed interest and cash, to support their businesses," JANA said.
Wilkinson joined JANA in 2014 and is currently a senior consultant and a member of JANA's global equities research team.
He has over 25 years' experience in the financial services industry, including 16 years as a consulting actuary in the UK and Australia prior to joining JANA.
"I am delighted to have been appointed as JANA's head of insurance strategy," Wilkinson said.
"In this role I will be leading a team drawing on JANA's extensive research and asset management capabilities to build upon our already well-established health insurance portfolio and expand our capabilities for the benefit of the Australian insurance market, including life and general insurers.
"Our insurance strategy will focus on enhancing our support for clients through investment strategy, asset allocation and manager selection."
Lamborn said JANA has been advising the insurance market since 2004, and its current insurance clients have over $9 billion in assets under management.
"We have created the head of insurance strategy position to allow us to build the support we provide to our clients," Lamborn said.
"Greg's appointment and industry expertise will deliver significant uplifts in our capability in regulatory advice, digital solutions and modelling support to our clients."