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ABI organisational changes information for members

ABI Director General Otto Thoresen has today (23 October) written to the ABI’s members to update them on some organisational changes at the ABI. Read Otto's letter below.

Dear Colleague

We are making some changes to the way the ABI works which I believe will make us fit for the future and ensure we deliver a focused and effective service to our members. As your trade body, we are very aware of the commercial pressures you are all under and a key part of the changes announced today is ensuring we continue to deliver against your priorities whilst also reducing our costs.

As a result of this restructure a number of our colleagues are leaving us today, including three members of the Executive Team – Maggie Craig, Nick Starling and Steve Gay. I want to take this opportunity to thank them for their work and the significant contribution they have made, in some cases, over many years.

The changes are as follows:

  • Huw Evans becomes Director of Policy and Deputy Director General, bringing our General Insurance and Life work into one Directorate together with our statistics team.
  • Hugh Savill becomes our Director of Regulation, bringing together all our prudential and conduct regulatory expertise into one team. Hugh continues to be responsible for our tax team.
  • Louise Hanson becomes our new Director of Advocacy, leading all our external relations and member-focused activity.
  • Robert Hingley continues as Director of Investment Affairs.

We are clear on our priorities as representatives of the insurance industry and we will continue to work as effectively as possible to deliver on these in collaboration with member firms.  This includes:

    - Working to deliver Flood Re, seeking an outcome on flood insurance which provides access to affordable flood insurance for customers whilst maintaining a stable commercial marketplace for insurers.

    - Maintaining momentum on the reforms needed to reduce costs for motor insurers and their customers.

    - Continuing our work with the industry and other stakeholders to respond to the OFT report on workplace pensions, improving the effectiveness of the annuity market for current retirees and looking forward to how the retirement income market can evolve to be effective for future generations.

    - Realising the potential of the protection market as it becomes ever clearer that the state can not afford to provide for the needs of an ageing population without increased personal provision.

    - Working towards an acceptable outcome on Solvency II on behalf of the UK insurance industry, engaging with the Treasury and the PRA on how UK implementation should best be delivered and getting increasingly involved in the debates on a possible international capital standard.

    - Developing the next phase of our response to the impact which the new conduct regulator will have on the insurance landscape in the years to come.

I am confident that these changes get the ABI into the right shape to deliver on your behalf, targeting our work at the priorities that matter to you and where we can deliver the results you need.

Please do get in touch if you would like to talk through any of these changes in more detail.

Otto


Last updated 01/07/2016