Catherine Drummond

Catherine Drummond

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I'm Cat and I am a partner in LCP's Insurance Consulting practice. I have over 15 years of consulting experience and help my clients understand and manage their insurance risks better. I work with a wide range of insurers, including large personal lines insurers, commercial insurers and Lloyd's syndicates.

I am a Solvency II expert and can help you and your firm navigate the wide-ranging and onerous regulatory requirements. I have performed numerous independent reviews of internal model validation, risk and governance frameworks, standard formula calculations and technical provisions. I have also helped the risk function of a large global insurer prepare for restructuring and redomiciling due to Brexit.

Clients tell me that they appreciate my hands-on approach to getting things done, and my ability to explain complex issues in an easy to understand way.

I am the Chair of the IFoA’s GI Life Long Learning Committee, the Lifelong Learning Director on the IFoA's General Insurance Board and a member of the IFoA’s 400 club. I have also previously been a member of the Solvency II Practical Review working party.

I author LCP’s annual review on the SFCRs of 100 non-life insurers across the UK and Ireland, and have presented widely on this subject, including at EIOPA’s industry conference in Frankfurt.

I also manage our insurance teams and am involved in the recruitment of actuarial staff. In addition, I am a founding member and co-chair of LCP's LGBT+ network which leads initiatives and provides support to ensure that we provide an accepting environment for LGBT+ individuals to thrive and prosper.

Outside work, I enjoy spending time with my partner, our families and our pets, as well as playing piano, organ and saxophone.

Cat and the team worked flexibly to our timescales and produced advice that was clear and practical to implement. We were impressed with how easy the recommendations were to understand, particularly given the complexity of the underlying regulations

Head of Finance and Strategy, large UK personal lines insurer

Your capital model can be a powerful tool for understanding your risk profile and making better business decisions, in addition to calculating regulatory capital.

Insurance regulation has become tougher and more sophisticated. We can help you meet regulatory requirements in a way that adds value to the business.

Data has always been the lifeblood of insurance. The recent explosion in the volume of data available to insurers provides great opportunities but will also generate more intense competition.

Reserving adequacy is crucial to succeeding in the insurance market.  But some of the biggest risks to your reserves are not reflected in the historical claims data.

Risk management is at the core of the insurance business.  We can help you strengthen the links between strategy and risk management, increasing your chances of business success.

Our independent validation advice helps you to use your models with greater confidence and to meet regulatory requirements efficiently.