Mark Boléat, the Director General of the Association of British Insurers, is one of thebusinessmen accompanying the Prime Minister and the President of the Board of Tradeon their official visit to India on 9, 10 and 11 January 1997. The future development of theIndian insurance market is one of the important areas likely to feature in discussions.

There have always been very strong ties between the UK and Indian insurance industries.UK Insurance companies played an important part in helping to develop the Indianinsurance market. They were major participants in the market until non-life insurance wasnationalised in 1971 and life insurance in 1973. Contacts were maintained and these havedeveloped significantly over the last few years as ABI and its members have taken a keeninterest in proposals to open up the market. Since it became clear that the Indianauthorities intended to deregulate the industry, the ABI has offered advice and informationto the Indian authorities.

Where necessary, the ABI has acted as a co-ordinating body for the insurance companieswith an interest in operating in the Indian market. Mark Boléat has hosted two meetingsin London attended by successive chairmen of the Insurance Regulatory Authority, thebody established to supervise the new regime for insurance regulation in India. TheDirector General also accompanied the Chancellor, Kenneth Clarke, when he visited Indiain May and June 1995 and has had a number of meetings with officials from the BritishHigh Commission in Delhi and Mumbai.

Notes

1. The Association of British Insurers is the trade body for insurancecompanies operating in Britain. It has 440 members which between themaccount for over 95% of the business of insurance companies in Britain. TheAssociation acts as a representative body for the insurance industry indiscussion with the government and regulatory and other agencies. It alsoprovides a wide range of services to its members including statistics andloss and fraud prevention. Internationally, the Association maintainscontact with trade associations and regulatory authorities in a large numberof countries, and has a particular interest in dealing with market accessissues in emerging markets.

2. Mark Boléat has been Director Generalof the Association of British Insurers since July 1993. Previously he heldthe positions of Director General of the Building Societies Association andof the Council of Mortgage Lenders. While in his previous position, he wasalso Secretary General of International Union of Housing FinanceInstitutions.

3. Media enquiries to:

   - MarkBoléat +44 020 7216 7300 (Home: +44 (0)1923 823684)
   - Malcolm Tarling +44 020 7216 7410 (Home: +44 020 8297 9510)
   - Suzanne Moore +44 020 7216 7411 (Mobile: 0378794717)

4. An ISDN line is available for radio broadcasts.