Stephen Mullan Email & Phone Number

London, United Kingdom

• Responsible for identifying non-optimised aspects of clients’ business models, and developing solutions to address these, in order to increase our value and relevance at C-suite level • Lead a team which conducts in depth financial analysis of clients’ public disclosures (eg financial statements, SFCRs, and other investor relations information), and non-public data• Build sell-side type models to project and optimise capital and earnings metrics through customised reinsurance, and broader means to leverage third party capital such as co-insurance• Build credibility with the senior management teams of clients by presenting relevant ideas which provide a basis for working towards final executed transactions • Subject matter expert on the Solvency II Directive, Delegated Acts and certain EIOPA guidelines, including treatment of reinsurance in the underwriting risk sub-modules of the standard formula• Responsible for anticipating clients’ changing reinsurance needs due to developments in regulation and rating agency methodology• Co-writer of the Willis Reinsurance Market Report and publications on COVID-19 and the impact on (re)insurers’ financial health

• Led Willis Re’s International financial advisory and ERM offering, supporting clients in achieving their capital and earnings-related targets• Established and led a team of financial analysts based in Mumbai, providing on-site training and overseeing London secondments• Developed reinsurance structures which supported European clients in achieving their target solvency levels in a cost-efficient way• Responsible for developing and delivering financial analysis training for colleagues at various levels

• Led international rating advisory offering and supported numerous clients in achieving their rating objectives, including through coaching • Supported clients in preparing for Solvency II, including assessing changes in reinsurance needs as a result of the introduction of the SCR and ORSA• Led risk appetite survey to assess how enhanced ERM requirements as a result of regulatory and rating agency developments were influencing reinsurance strategy • Regularly participated in meetings with the senior management teams of a broad range of clients as subject matter expert on Solvency II and rating agency methodology

London, United Kingdom

• Led the analysis of a wide portfolio of European (re)insurance companies, focusing mainly on UK insurers and Lloyd’s syndicates• Developed rating recommendations through in-depth analysis of companies’ balance sheet strength, historical and projected operating performance, business profile, and ERM• Built strong working relationship with the principal contact for each rated client, which was typically the CFO or CRO

• Managed a portfolio of mid-size UK insurers• Provided well-reasoned rating recommendations at credit committees and challenged other team members’ recommendations when required • Developed strong writing skills through extensive publication of press releases and reports

Belfast, United Kingdom

• Director of an insurance broker which focused on personal and SME business• Strong rapport developed with client base which was key to supporting retention

Bristol, United Kingdom

• Actuarial analyst focused on life business• Secondment to actuarial team focused on defined benefit pension schemes