(106 words)

The ABI (Association of British Insurers) is delighted that the Government is determined to improve financial capability and access to information and by the appointment of Otto Thoresen to lead this work.

Stephen Haddrill, Director General of the ABI, said:

"The challenge is to stimulate people to take a greater interest in their financial affairs and to give them more confidence to take advantage of the wide range of advice already around.

“There is a lot of detailed work for the taskforce to do, including on value for money. But this looks like it could create a consensus on the best and most cost-effective way forward."

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Notes

1.            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)

         Kelly Ostler        020 7216 7415 (Mobile: 07968 364 302)      

2.            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.

3.            An ISDN line is available for broadcasts.