Reformed ABI unveils new directors and ‘lean’ structure package

The ABI is moving from its Gresham Street offices to cheaper premises near Tower Bridge as part of an overhaul that promises an increased focus on long-term savings.

AIG president and CEO EMEA Seraina Maag and Swiss Re UK & Ireland CEO Russell Higginbotham have been appointed to the ABI Board, it was announced at the ABI Biennial conference today.

Aviva UK & Ireland Life CEO Andy Briggs, who already sits on the board, will also become deputy chair.

The ABI says board appointments are part of a package of reforms designed to make the ABI a modern, lean and agenda setting organisation.

Other changes announced by the ABI today include a move to a new premises at 1 America Square, a new associate membership offering, a new committee structure it hopes will better reflect the long term savings market, divided into a forward facing Long Term Savings Committee and a new Legacy Committee to deal with historic issues. 

ABI chairman Paul Evans says: “The ABI modernisation programme will be helped by an opportunity to move out of the very expensive and rather musty premises in Gresham Street. I am delighted to announce today that in early 2016 the ABI will be moving to new offices in 1 America Square. This offers a modern office facility, with much improved facilities for all our members, big and small – at a substantially lower cost to members”

“A year ago, it became evident that the Long Term Savings and Life Insurance Committee was devoting too much of its time looking back over its shoulder to address issues of the past. Splitting it in two means we now have one committee focused on the needs of members with large books of in force business, and one focused entirely on the future – new business models, new technology, new products, and hopefully, in time, new members.”

Maag says: “At a challenging time for the insurance industry, the ABI has a key role to play in developing our future vision and strengthening our collective voice.  As a new member of the board, I look forward to working with Huw Evans and my board colleagues to help advance our industry to a successful future”.