Government launches insurance industry working group

by Gill Montia

Story link: Government launches insurance industry working group

The Government has set up two new industry groups to look at the UK insurance and investment sectors.

The bodies come under the co-chairmanship of Chancellor of the Exchequer Alistair Darling, who will be joined by Andrew Moss, chief executive of Aviva, as co-chair of the insurance group.

Representatives of Legal & General, Standard Life, Scottish Widows, RSA, Lloyd’s of London, Tillinghast, Willis and Prudential will also be taking part.

The insurance group held its first meeting earlier this month and will go on to identify key issues for the industry and policymakers to address, by next summer.

According to the Chancellor, the UK needs to consider its longer-term priorities across all areas of financial services and emerge from the current period of economic turbulence in a strong position.

Mr Moss agrees that while the financial sector is facing challenging times it’s important to focus on opportunities and build on learning.

The full membership of the insurance working group is as follows: Andrew Moss, chief executive of Aviva; Tim Breedon, Group Chief Executive, Legal & General; Sandy Crombie, Group Chief Executive, Standard Life; Archie Kane, Chief Executive, Scottish Widows; Adrian Brown, UK Chief Executive, RSA; Richard Ward, Chief Executive, Lloyd’s of London; Steve Taylor-Gooby, Managing Director, Tillinghast; Brendan McManus, UK and Ireland Chief Executive, Willis; Nick Prettejohn, UK and Europe Chief Executive, Prudential.