In addition, he will have responsibility for co-leading the firm’s Solvency II services in the UK.

Crawford will be based in London and will report to Jane Leach, Partner, Financial Services Head of Risk for KPMG in the UK.

Crawford joins KPMG from Pearl, where he was Chief Risk Officer for the closed funds consolidator. Prior to Pearl, he was a Director in PricewaterhouseCoopers’ (PwC) Financial Services Advisory Practice, with responsibility for leading the Advisory Insurance Risk and Capital management practice and shaping and delivering that company’s Solvency II strategy in the UK.

Crawford holds a Master’s degree in Corporate Strategy and Governance from the University of Nottingham and is an Associate of the Chartered Insurance Institute.

Jane Leach said:

“There has never been a more important time for financial services firms to have risk management systems they can be confident in. As insurers evolve their businesses to match changing market conditions in which, for example, they are faced with profit volatility and unexpected losses, they need to get the most from their risk management framework.

"This, combined with the impacts of Solvency II, means insurers will be taking a closer look at and adapting their risk management practices and procedures and we are committed to having the right resources in place to support them. We are pleased to welcome Michael to our team. He brings with him significant expertise in designing and implementing new and effective operating models for insurers, and we look forward to the good work he will do for our clients.”

Crawford said: “This is an exciting time to be part of the KPMG team working with our insurance clients to enhance their financial risk and solvency management practices and risk decision-making approach. As a result of effects of the credit crunch, the upcoming need to address Solvency II requirements and outcomes from the Turner Review, insurance firms are re-examining the standard of risk management and capital approaches required.

“As we near the deadline for approval of the level I Solvency II Directive, firms will increase the momentum around preparations for first wave FSA approval in 2011. I am looking forward to working with UK and European clients to enhance their current approaches to achieve their strategic ambitions in this important area.”