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A positive step for our industry

Otto_blogx268x317Yesterday Financial Secretary to the Treasury, Greg Clark MP, highlighted the importance of the insurance industry in a speech, which he has since followed up with an article on Conservative Home.

Amongst other things he announced the Government’s intention to develop a strategy for the insurance sector, which will: 

  • Aim to promote the UK’s position as a leading centre for insurance
  • Enhance the industry’s position as a leader in global business by driving growth in overseas markets
  • Give focus to insurers’ contribution to long term investment and savings in the UK

Clearly we are delighted with the Government’s announcement and look forward to hearing more as they develop their plans.

This development reflects the genuine and sustained efforts of the industry in achieving some successful customer outcomes in a range of areas including motor insurance, pensions, investor stewardship and regulation.

As insurers our industry has a significant role to play in driving economic growth, helping people manage risk and making society more financially resilient.

I’m looking forward to discussing these issues further at our Biennial conference in July.

Last updated 29/06/2016