Opinion Former Article

ABI: Tim Breedon to become chairman

Tim Breedon, Group Chief Executive of Legal & General has been nominated to become the next Chairman of the ABI. Mr Breedon will be formally appointed at the Association's AGM in July when Archie Kane will step down as Chairman having completed a three year term of office.

Tim Breedon has been Group Chief Executive of Legal & General since January 2006, having joined the L&G Board in 2002. He has been a member of the ABI Board since July 2007.

Tim Breedon said:

"It is an honour to be asked to become ABI Chairman at this vital time for the insurance industry. The insurance sector was not part of the problem for financial services and the broader economy last year: it weathered the storm of the financial crisis well. Insurers can however be part of the solution.

Insurance is already at the heart of a successful and well-functioning society - we price and manage risks for consumers, businesses and governments, enabling individuals to live their lives to the full and economies to grow through the long term investment the industry provides. There is however much more we can do to assist individuals, families, businesses and the economy towards recovery. As an industry we have to continue to improve our reputation with consumers, demonstrate our value to governments and work with regulators to ensure we are operating effectively. We face major challenges from regulators and governments, particularly in ensuring insurance is not treated as banking, but I am confident that the ABI will continue to engage constructively in the important debates still to come."

Archie Kane said:

"Tim is a hugely respected leader with significant industry experience across all the different areas of the ABI's work. Tim's experience and deep understanding of the challenges ahead will ensure the ABI continues to lead policy debate and speak effectively on behalf of its members."

Kerrie Kelly, ABI Director General said:

"On behalf of the whole Board, I would like to thank Archie Kane for his considerable personal commitment and dedication in his three years as the ABI's Chairman. Archie has provided clear and respected leadership through an incredibly challenging period for financial services in the UK and our members are most grateful for the very meaningful contribution he has made during this time."

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Notes for Editors

1. Enquiries to:
Liz Forster 020 7216 7444 (Mobile: 07717 578 586)
Nicholas Burke 020 7216 7392 (Mobile: 07725 245 841)
Malcolm Tarling 020 7216 7410 (Mobile: 07776 147 667)
Erfan Hussain 020 7216 7411 (Mobile: 07712 841 184)
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

More Articles by Association of British Insurers (ABI) ...

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