ABI: Scotland still positive location for financial services

Wednesday, 13 January 2010 12:00 AM

Maggie Craig, Acting Director General and Director of Scottish Affairs at the ABI, has backed Scotland as a positive location for financial services firms. She today gave evidence to the Economy, Energy and Tourism Committee of the Scottish Parliament as part of their banking and financial services industry inquiry. Speaking after the hearing she said:

"Scotland's strength is that its financial services offering goes far wider and deeper than banking. The insurance and savings industry has weathered the storm far better than the banks, and has a very good story to tell."

"This has been an international crisis and many major countries have seen their reputations damaged. There is no evidence to suggest that Scotland's reputation has been disproportionately damaged."

- ENDS -

Notes for Editors

1. Enquiries to:
Erfan Hussain 020 7216 7411 (Mobile: 07712 841 184)
Malcolm Tarling 020 7216 7410 (Mobile: 07776 147 667)
Kelly Ostler-Coyle 020 7216 7415 (Mobile: 07968 364 302)

2. The ABI is the voice of the insurance and investment industry. Its members constitute over 90 per cent of the insurance market in the UK and 20 per cent across the EU. They control assets equivalent to a quarter of the UK's capital. They are the risk managers of the UK's economy and society. Through the ABI their voice is heard in Government and in public debate on insurance, savings and investment matters.

3. An ISDN line is available for broadcasts.

4. More news and information from the ABI is available on our web site, www.abi.org.uk.

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