Baroness Nicky Morgan has been appointed the first independent chairwoman of the Association of British Insurers (ABI) as the trade body completes a major overahul of senior management..
The former education and culture secretary succeeds Jon Dye who is stepping down having served as ABI chairman since July 2019.
Morgan (pictured) was also chairwoman of the influential Treasury Select Committee of MPs for two years until summer 2019.
Her three-year tenure begins this month and she will lead the new reputation and customers committee along with the full ABI Board.
Director general and NED
The other senior appointments at the ABI include Hannah Gurga who is to become the director general, taking up the post in early 2022.
She joins from UK Finance where she is managing director, digital, technology and cyber, and chief of staff.
Gurga has previously worked for the London Stock Exchange Group, ICAP and HM Treasury alongside other government roles.
She succeeds Huw Evans who announced earlier this year that he is stepping down from the role in December to join KPMG as a partner in the new year.
Baroness Dianne Hayter is joining as an independent non-executive director (NED) and senior independent director (SID) on the ABI board for a three-year term starting this month.
Her role includes being a member of the audit committee, the reputation and customers committee and the appointments and remuneration committee.
The ABI said the two new board roles have been introduced as part of reforms announced earlier this year to bring fresh external perspectives, enrich diversity of experience and reinforce strong governance.
UK success story
Commenting on her appointment, Baroness Morgan said the insurance and long-term savings industry was one of the UK’s biggest global success stories.
“There are many challenges and opportunities facing the sector ranging from customer trust to supporting the transition to Net Zero,” she said.
“The ABI has an excellent reputation and I’m excited to take on this new role as the first Independent chairperson at this crucial time.
“I would like to offer my thanks to Jon Dye for his leadership of the sector during a challenging time and for a smooth handover of responsibilities.”
Gurga said: “The external environment in which we’re operating is changing rapidly and it is vital the ABI delivers across issues as varied as climate change, diversity and inclusion, resilience and the digital and data revolution.
“I look forward to working with members, colleagues, government and regulators to enhance our industry’s reputation and impact.”
Baroness Dianne Hayter said: “The ABI’s members play a vital role in supporting our economy and providing a financial safety net for families across the UK.
“I’m delighted to take up the role of independent non-executive director and look forward to seeing what more can be done to boost consumer trust.”
ABI president and Royal London group CEO Barry O’Dwyer, added he was pleased to announce the changes and that the body was honoured to welcome Baroness Morgan and Baroness Hayter.
“Both bring with them exceptional experience and as consumer champions will be an independent voice for customers across the insurance and long-term savings sector,” he said.
“Hannah Gurga is a respected and experienced financial services professional with a strong track record of leadership built in the UK civil service, the City and a leading trade association.
“I would also like to thank Huw Evans for such formidable leadership during a decade of great change for our industry.”