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Ian Penfold

MMATH FIA
Consultant
London, UK

Ian Penfold is a consultant in Milliman’s London office.

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Experience

Ian has significant reserving experience across a number of personal, commercial, and specialist lines of business, with particular interest in casualty and motor. Ian has experience with a diversified range of clientele, including specialty insurers and Lloyds syndicates. Ian joined Milliman’s London P&C team in September 2011.

Publications

Read their latest work

Article

Extreme weather in Europe in 2024

22 May 2025 - by Anandi Shah, Arije Amara, Niccolò Basetti Sani Vettori, Mohamed Benkhalfa, Diana Dodu, Lucian Franzky, Ankush Hingorani, Ian Penfold, Francesco Pugassi, Antoine Rainaud, José Silveiro, Francesca Tiozzo, Menno van Wijk, Laura Witting, Victoria Zach
Why 2024 was the “Year of the Flood”—and what insurers can do now to manage climate-related financial risks.
Article

Analysing 2023 Solvency and Financial Condition Reports (SFCR) of non-life insurers in Europe and the UK

10 October 2024 - by Veekash Badal, Ian Penfold, Vidyut Vardhan
European non-life insurers for 2023 reported 6% higher gross written premiums, among other developments, according to our year-end analysis.
Article

What is the metaverse and how could it transform the insurance industry?

24 July 2024 - by Claire Booth, Ian Penfold, Monique Mahabir
In this paper we consider potential ways in which insurers could use the metaverse, and the challenges and risks associated with adoption of this new virtual world within the industry.
Article

Analysing 2023 Solvency and Financial Condition Reports (SFCR) of non-life insurers in the UK and Gibraltar

18 July 2024 - by Derek Newton, Ian Penfold
For non-life insurers in the UK, motor vehicle liability and assistance lines helped drive operating margins down to -0.6% in 2023, from 0.4% in 2022.
Article

Extreme weather in Europe 2023

09 April 2024 - by Anandi Shah, Mohamed Benkhalfa, Ian Penfold, Francesco Pugassi, Menno van Wijk, Niccolò Basetti Sani Vettori, Antoine Rainaud, José Silveiro, Diana Dodu, Valerie Lampert, Laura Witting, Monika Lis, Arije Amara
Analysing the impact of droughts, floods, and other 2023 extreme weather events in Europe to help insurers manage the risks posed by climate change.
Article

Analysis of non-life insurers' Solvency and Financial Condition Reports: European non-life insurers year-end 2022

19 September 2023 - by Derek Newton, Ian Penfold, Vidyut Vardhan
Our analysis of European non-life insurers, based on SFCRs for year-end 2022 reporting, reveals that performance varied across countries and lines of business.
Article

Driving for profit: A view of the UK motor insurance market 2022

05 September 2023 - by Derek Newton, Ian Penfold, Joshua Flack, Paige Yallop
Data from 39 motor insurers in the UK shows slightly higher premiums and gross claims costs for 2022, according to Solvency II reports.
Article

Analysis of non-life insurers' Solvency and Financial Condition Reports: United Kingdom and Gibraltar non-life insurers Year-end 2022

19 July 2023 - by Derek Newton, Ian Penfold, Vidyut Vardhan
As the UK entered a high inflationary environment in 2022, non-life insurers reported an aggregate operating margin of 0.6%, down from 2.1% a year earlier.
Article

Extreme weather events in Europe for 2022 and beyond

14 March 2023 - by Tarik Aouragh, Niccolò Basetti Sani Vettori, Mohamed Benkhalfa, Christoph Krischanitz, Ian Penfold, Eugenio Portales, Antoine Rainaud, Giuseppe Semeraro, Anandi Shah, José Silveiro, Martijn van Rooijen, Menno van Wijk
Our annual report highlights the specific toll on the insurance industry, which faced a record number of claims and higher repair costs amid rising inflation.
Article

Current trends in climate-related disclosures

25 January 2023 - by Milan Desai, John Gakuya, Amy Nicholson, Ian Penfold, Gibson Thuita
Despite progress by the insurance sector to produce climate-related disclosures, gaps and challenges remain, with some firms only in the early stages.