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Experts see Thoresen protection push

Protection experts are hopeful that Aegon UK chief executive Otto Thoresen will move protection up the agenda in his new role as director general of the Association of British Insurers.

Thoresen will start at the trade body next month, taking over from acting director general Maggie Craig.

Chief operating officer Adrian Grace will replace Thoresen as Aegon UK chief executive.

The ABI director general post has been vacant since Kerrie Kelly left in July after just six months in the role.

Lifesearch managing director Tom Baigrie says: “It seems that the ABI has struggled to manage its protection agenda effectively in terms of successfully lobbying the regulator and the Government.

“We are delighted to see Thoresen taking on the challenge of resolving the conflicts that dog any such body. Thoresen is a man who can get things done and influence ministers. His excellent work on the Thoresen review on generic financial advice suggests he is a man who can move our industry forward.”

Le Beau Visage managing director Peter Le Beau says: “We need to have a much higher profile for protection business within the ABI. I think Thoresen is likely to achieve that.”

Bright Grey proposition director Roger Edwards suggests that Thoresen should look to improve the reputation of insurers.

He says: “Thoresen’s focus might involve tackling some of the issues that have dogged the industry for years, such as trying to overcome the negative perception that the public has about insurers.”

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