The Association of British Insurers (ABI) has appointed Kay Swinburne as independent chairperson.
She succeeds Nicky Morgan who was the first person to hold the role.
The position of independent chairperson was created in 2021, along with the role of independent non-executive director (NED), to bring fresh perspectives, enrich diversity of experience and reinforce strong governance.
Swinburne (pictured) will chair the ABI board and starts in the role with immediate effect for an initial period of three years.
Prior to her current legislative, advisory and financial services consulting roles, Swinburne had a career in financial services pre and post being elected to the European Parliament (2009-2019). As a leading EU legislator serving as vice chairwoman of the Economics and Monetary Affairs Committee, she shaped EU and global financial services legislation.
On leaving elected office, Swinburne became vice chairperson of KPMG UK’s Financial Services practice and chairperson of the EMA Risk and Regulatory Insight Centre.
Swinburne entered the House of Lords as a peer and government whip in June 2023 and served as a government minister in DLUHC. She continues to participate in legislation in the Lords with a particular interest in financial services, fintech, AI and science.
She joins Sacha Romanovitch as the ABI’s independent NED.
Swinburne said: “I am delighted to take up the role of ABI Chair and look forward to working with the board members, the executive team and the sector more broadly as we build on the strong track record of insurance and long-term savings providers in recent years.
“There are some pressing issues ahead, particularly on consumer related matters and further supporting the UK’s economic growth.
“I look forward to steering the board as we seek to find ways to help tackle these challenges.”
Morgan said: “My time as ABI chairwoman coincided with significant change for the insurance and long-term savings sector as we moved into a post-Brexit and post-pandemic era, defining new regulations, the way we work and tackling consumer trust.
“It has been an honour to lead the ABI’s board for the past three years and to work with the ABI’s outstanding management team led by Hannah Gurga as we’ve collectively navigated these opportunities and challenges.
“The industry plays a vital role in securing the economy and providing peace of mind to customers.
“I know the work of the ABI will go from strength to strength with the guidance of Kay Swinburne.”
Andy Briggs, ABI President and CEO of Phoenix Group, said: “Kay’s extensive experience across financial services in the UK and in Europe will be a great asset to our industry, especially at such an important time as we work to support the government’s vital growth mission.
“We look forward to welcoming Kay to the ABI board.
“I’d also like to thank Nicky Morgan for her extensive contribution to the ABI, especially in driving forward our consumer-focused work and helping to establish the Investment Delivery Forum.”
