In a recent development, Tim Bailey, the CEO of Zurich UK, has taken on the prestigious role of the president of the Association of British Insurers (ABI). The appointment of Bailey as the ABI president comes as a result of the governance changes implemented in 2021. He succeeds Barry O’Dwyer, the group CEO of Royal London, who served as the inaugural president under the revised ABI structure. Concurrently, Clare Bousfield, the chief executive of Retail and Savings at M&G, assumes the position of deputy president, commencing her duties alongside Bailey.
Bailey’s appointment as president positions him as a key figurehead within the insurance industry for the next two years. With his extensive experience and leadership acumen, Bailey is poised to bring valuable insights and drive impactful initiatives during his tenure. His vast knowledge in the insurance sector, garnered throughout his tenure at Zurich UK, will undoubtedly contribute to the advancement of ABI’s objectives.
Joining Bailey in a supporting role, Clare Bousfield assumes the position of deputy president. Having achieved notable success as the chief executive of Retail and Savings at M&G, Bousfield brings a wealth of expertise to her new role. Her leadership qualities and industry acumen make her a valuable addition to the ABI leadership team. However, it is important to note that Bousfield will be stepping down from her current position at M&G in the coming autumn.
The ABI presidency, under Bailey’s guidance, is expected to promote collaboration among insurers and advocate for policies that benefit both the industry and its consumers. Bailey and Bousfield’s combined expertise will foster an environment of innovation and strategic growth within the insurance sector, paving the way for a more secure and customer-centric landscape.