Association of British Insurers
Purpose:
As the insurance industry's trade body
the
Association of British Insurers (ABI) aims
to provide leadership on issues bearing on the industry's collective strength
and image and to shape and influence decisions made by the government, regulator
and other public authorities, within and outside the UK, in order to benefit the
industry collectively.
Membership: Insurance
companies representing all sections of the insurance industry.
Founded: 1985
Based:
51 Gresham Street, London
Structure: The ABI's
board governs the organisation. The work of the major policy departments is
overseen by the general insurance management committee, the life and pensions
management committee and the investment committee.
Director General: Stephen Hadrill
Director of
Investment Affairs: Peter Montagnon
Chairman of the Board: Keith
Satchell, group chief executive,
Friends Provident
Chairman, Investment Committee: Chris
Phillips, chief executive Scottish Widows
Investment Partnership
Main corporate governance interest:
As a representative of institutional shareholders has been involved in
the development of corporate governance best practice working with other groups.
It also operates the
Institutional Voting Information Service, which produces reports on
companies within the FTSE All-share and alerts investors to areas of poor
governance practice prior to shareholder meetings.
Connections with other organisations: Part of the Institutional Shareholder Committee (ISC)
made up of other major institutional shareholder bodies, the
National Association of Pension Funds, the
Investment Management Association and the
Association of Investment Companies. The ISC produced a
statement of principles on shareholder activism in
October 2002.
Position towards government: Like other
trade bodies seeks to influence government in all areas that affect the
industry. Influential in respect of government thinking on non-financial
reporting.
Links
Association of British Insurers
Friends Provident
Scottish Widows
Investment Partnership
Institutional Voting Information Service
National Association of Pension Funds
Investment Management Association
Association of Investment Companies
Statement of Principles on Shareholder Activism
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