L&G CEO Breedon named ABI chairman

Legal & General group chief executive Tim Breedon will take over as chairman of the ABI in July.

Breedon will be formally appointed at the association's AGM, replacing Archie Kane after his three year term of office.

L&G group chief executive since January 2006, Breedon joined the L&G Board in 2002.

He has been a member of the ABI Board since July 2007.

Breedon says it is an honour to be asked to become ABI chairman at such a vital time for the insurance industry.

"The insurance sector was not part of the problem for financial services and the broader economy last year: it weathered the storm of the financial crisis well. Insurers can however be part of the solution."

Insurance is already "at the heart of a successful and well-functioning society", he says, but the industry can do more to help individuals, families, businesses and the economy towards recovery.

"We have to continue to improve our reputation with consumers, demonstrate our value to governments and work with regulators to ensure we are operating effectively.

"We face major challenges from regulators and governments, particularly in ensuring insurance is not treated as banking, but I am confident that the ABI will continue to engage constructively in the important debates still to come."

Outgoing chairman Archie Kane says his successor's experience and "deep understanding of the challenges ahead" will ensure the ABI continues to lead policy debate and speak effectively on behalf of its members.