Old Mutual Wealth rejoins ABI

Steven Levin

Old Mutual Wealth has decided to rejoin as a member of the Association of British Insurers eight years after the provider decided to withdraw its membership.

Old Mutual Wealth left the trade body in 2008.

Speaking at the ABI chairman’s dinner in London last night, outgoing chairman Paul Evans announced the firm had been convinced of the merits of membership.

ABI director general Huw Evans says: “The long-term savings market is evolving rapidly and the ABI is changing fast to ensure we are fit for the future too. Old Mutual will bring a valuable market perspective to our public policy and regulatory work and will help ensure a strong industry voice on key issues.”

Old Mutual Wealth investment platforms chief executive Steven Levin says: “We want to ensure we are actively engaged in key debates that impact our customers. We are members of a number of trade bodies, reflecting that we work across a broad range of financial services sectors.

“We are pleased to be joining the ABI and supporting them as they continue to evolve to become a leading voice for the long-term savings market.”

Legal & General quit the ABI in August 2014 after the trade body merged its investment affairs division with the Investment Association.

The provider said at the time it believed it could lobby more effectively alone.