New ABI President and Deputy President
Tim Bailey, UK CEO, Zurich, is the new President of the Association of British Insurers (ABI). Clare Bousfield, Chief Executive, Retail and Savings, M&G plc, becomes the new Deputy President. They will take up the roles immediately.
As President, Tim replaces Barry O’Dwyer, Group CEO, Royal London. Barry was the first person to hold the role under ABI governance changes introduced in 2021, alongside Cristina Nestares, UK CEO, Admiral Group plc, as Deputy President. Tim will hold the role for the next two years. As previously announced by M&G, Clare will be stepping down from the firm in the autumn. Given her work leading the ABI Board sub-group on Solvency II, we’re grateful Clare will hold the Deputy President role while the sector transitions to the Solvency UK regulations.
I’m delighted to announce Tim Bailey and Clare Bousfield as ABI President and Deputy President. Their experience, insight and leadership will be greatly valued, particularly at such an important time for the industry as we prepare for the introduction of Solvency UK.”
“I would like to thank Barry and Cristina for their dedication and commitment to the roles. They have made an important contribution to the ABI and we’re grateful to continue working with them as members of the ABI Board.”
Baroness Nicky Morgan
ABI Chair
It’s an honour to take on the role of ABI President. I strongly believe in the role the ABI has to play in driving change to protect and build a thriving society. Working together as an industry, and in partnership with government and regulators, is key and I look forward to supporting members to deliver that over the next two years.”
Tim Bailey
ABI President and UK CEO, Zurich
Having led the ABI’s work on Solvency UK, which is a once in a generation change to our regulatory regime enabling billions of pounds of investment into UK productive assets, I am passionate about driving through how we as an industry deliver the benefits. It’s a privilege to hold the role of ABI Deputy President at this time, and I look forward to working with Tim and the rest of the Board in the months ahead.”
Clare Bousfield
ABI Deputy President and CEO, Retail and Savings, M&G