Thiam named as next ABI chairman

The board of the Association of British Insurers (ABI) has appointed Tidjane Thiam to be the association’s next chairman.

Thiam, who is currently group chief executive of Prudential, will take over the reins from Tim Breedon of Legal & General, who steps down next month.

“I am honoured to be chosen as chairman of the ABI, particularly in succession to Tim Breedon, who has done an outstanding job in refocusing the organisation to face the challenges of a changing world. I am looking forward to working with Otto Thoresen, who has brought a wealth of experience and leadership skills to the ABI,” said Thiam.

“Insurance is one of Britain’s business success stories and it continues to provide jobs, security and much of the long-term investment that drives economic growth. It remains one of our most important invisible export earners.

“Insurers need to continue working together in close partnership with government and regulators to find solutions to the challenges we collectively face – supporting our customers in a time of unprecedented austerity and developing practical policies that will promote sustainable growth.”