Sarah Knight will join the ABI in early February.  She will lead a new project to review and develop the Association's policies towards all savings and investments, taking account of rapid social and economic change in modern Britain and the insurance industry's role as provider of a growing range of savings products.

The Government has promised a review of ISAs and, with the Child Trust Fund and stakeholder products now launched, an early priority for Sarah will be to identify taxation, regulatory and public policy issues that the industry should be raising with government and the FSA.  The ABI's objective is to work with government across the whole of the savings agenda so that customers are better served and all saving is encouraged.

Stephen Haddrill, Director General of the ABI said:

"I am delighted to welcome Sarah to the ABI and that she will be taking on this important role. It is very much a forward-looking appointment, helping to decide the next generation of policy development on savings. The ABI will work with government to make sure that the right products and incentives are in place for customers across the entire savings industry."

Sarah Knight commented:

"The ABI has an excellent track record on many savings issues. I am really looking forward to building on this work and to helping the industry make a decisive contribution to the development of UK thinking on savings policy across the whole spectrum."

- ENDS -

Notes

1.      Sarah Knight is currently leading a team within HM Revenue and Customs that  works jointly with the Treasury on the development and implementation of incentives for personal saving. This work has encompassed stakeholder products, the Child Trust Fund, Pensions Simplification and the Savings Gateway.  She has previously worked at the DTI, and the Treasury, including a spell as Private Secretary for the Paymaster General. She will be a member of the Financial Regulation and Taxation Department at the ABI.

2.      A photograph of Sarah Knight is available from the ABI press office.

3.      Enquiries to:    

         Alan Leaman         020 7216 7440 (Mobile: 07957 482 330)

         Malcolm Tarling     020 7216 7410 (Mobile: 07776 147 667)

Jonathan French   020 7216 7392 (Mobile: 07958 330 480)

         Lucy Butler             020 7216 7411 (Mobile: 07712 841 184)

4.       The ABI is the trade association for Britain’s insurance industry. Its nearly

400 member companies provide over 94% of the insurance business in the UK. It represents insurance companies to the Government, and to the regulatory and other agencies, and is an influential voice on public policy and financial services issues. ABI member companies hold up to a sixth of all investments traded on the London Stock Exchange, on behalf of millions of pensioners and savers.

5.       An ISDN line is available for broadcasts.

03/06