Scottish Widows chief executive Archie Kane has been unveiled as the new chairman of the ABI.
Kane’s appointment was announced today at the ABI’s Annual General Meeting. He succeeds Keith Satchell who ends his two year term as chair.
Kane was appointed chief executive of Scottish Widows in 2003 and is also group executive director of insurance and investments at Lloyds TSB Group.
Aegon chief executive Otto Thoresen was also announced as chairman of the Life Insurance Committee.
Kane said: “It is a great honour for me to become Chairman at this exciting time for the industry. The industry has responded well to the recent floods around the country. We have made a defining contribution to the debate on pensions reform. And our work on regulation and corporate governance is of the highest quality.
“I am particularly keen to work closely with all the new ministers and politicians of all parties to promote a better understanding of the role and value of insurance in the modern world. The EU is now introducing its Solvency 2 Directive which heralds a major step forward in the financial regulation of European insurance companies. And we will be looking to the new Chief Executive of the FSA to continue the momentum behind the regulator’s move to principles-based regulation.