Zurich UK CEO becomes ABI president
Pardon the Interruption
This article is just an example of the content available to mallowstreet members.
On average over 150 pieces of new content are published from across the industry per month on mallowstreet. Members get access to the latest developments, industry views and a range of in-depth research.
All the content on mallowstreet is accredited for CPD by the PMI and is available to trustees for free.
Tim Bailey, the UK chief executive of Zurich, has been appointed as the president of the Association of British Insurers, replacing Barry O’Dwyer, group CEO of Royal London.
Bailey will hold the role for the next two years.
He became CEO of Zurich UK in January 2021, having previously held the position of chief operating officer for Europe, Middle East & Africa. From 2015 to 2019, Bailey was CEO for life and investments and country head at Zurich Australia. Prior to this, he was head of strategy and then chief risk officer for Zurich’s global life department.
Bailey said: “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.”
Meanwhile, Clare Bousfield, the CEO for retail and savings at M&G, has become the new ABI deputy president, succeeding Cristina Nestares, UK CEO of Admiral Group.
Prior to taking up her current role at M&G, Bousfield was the firm’s CFO, responsible for leading the financial management of the group. She joined the Prudential Group in November 2016 as CEO of the Prudential Assurance Company. Previously, she was at Aegon UK as CFO and served as Swiss Re’s CFO for UK life and health, and as regional CFO for UK, Ireland & Africa before assuming a group role.
Bousfield will be stepping down from the M&G in the autumn. The ABI praised her for leading the trade association’s board sub-group on Solvency II while the sector transitions to Solvency UK.
Bousfield said: “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.”
The pair has taken the roles with immediate effect.
