Archie Kane to remain ABI chairman until 2010

Archie Kane to remain ABI chairman until 2010

Archie Kane to remain ABI chairman until 2010

The ABI Board has unanimously decided to extend the tenure of the Association’s current chairman, Archie Kane, until spring 2010, to enable him to continue to play a leading role in shaping the next stage of the ABI’s response to the financial crisis and help UK financial services pull through the recession.

The Board has been discussing the possibility of extending Mr Kane’s tenure for some time as it would allow him to continue to lead the ABI as it responds to a large number of reviews on the future of financial services regulation and other important issues, including the Chancellor’s Insurance Industry Working Group.

Archie Kane said:

“I am pleased to have been asked by the Board to stay on as ABI chairman and I have accepted their invitation. Circumstances remain challenging for all financial services sectors, and while the insurance industry is in a good position to weather the continuing storm, it is not immune from difficulties. The ABI has a vital role to play in guiding it through these tough times and, with its continuing focus on the consumer, seeing it through to future success.”

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Notes for Editors

1. Enquiries to:
Jonathan French 020 7216 7392 (Mobile: 07958 330 480)
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. Archie Kane, Group Executive Director of Insurance, Lloyds Banking Group, was appointed Chairman of the ABI Board in July 2007. The usual tenure for ABI Chairman is two years. The Chairman is appointed by, and must be an existing member of, the ABI Board, which consists of 15 heads of leading UK insurance companies.

4. An ISDN line is available for broadcasts.

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