Aviva boss to advise chancellor on future of the industry.
Chancellor Alistair Darling has formed a working group of senior representatives from the insurance industry to help ensure the sector’s long-term survival.
The group will be chaired by Andrew Moss, chief executive of Aviva, and the chancellor.
The Treasury said the group would examine challenges and opportunities for the insurance sector over the next 10 to 15 years.
Its brief will include assessing the market challenges and opportunities facing the industry against the changing domestic and international insurance, reinsurance and regulatory landscape.
The group, which held its first meeting on 6 November, will report back on key issues to the chancellor by summer next year.
Darling said: “It is essential that we consider our longer-term priorities across all areas of financial services, so that as we emerge from the current period of economic turbulence, we are positioned to remain at the forefront of this industry.”
Moss said: “We’re facing challenging times, but it’s important to focus on the opportunities and build on our learning to ensure that the financial services sector continues to make a vital contribution to the UK economy.”
Members of the group include Adrian Brown, UK chief executive of RSA, Richard Ward, chief executive of Lloyd’s, and Brendan McManus, chief executive of Willis UK and Ireland.
