The Association of British Insurers (ABI) has appointed Zurich UK CEO Tim Bailey as its new president replacing Royal London Group CEO Barry O’Dwyer.  

Mr Bailey will head the ABI for the next two years alongside Deputy President Clare Bousfield, M&G Retail and Savings CEO who will be in the role only for the next couple of months until the date of her already announced departure from M&G.  

Mr Bailey has 25 years of insurance industry experience with Zurich. He first began at the insurer in 1998 as a graduate before holding roles as CEO for its Australian Life and Investments operations, COO for its Europe, Middle East and Africa operations, and Chief Risk Officer for Global Life.    

ABI Chair Baroness Nicky Morgan says Mr Bailey and Ms Bousfield’s leadership will be “greatly valued” as the industry prepares for the introduction of a new set of government regulatory requirements, referred to as Solvency UK.   

“I strongly believe in the role the ABI has to play in driving change to protect and build a thriving society,” Mr Bailey said.  

“Working together as an industry, and in partnership with government and regulators, is key and I look forward to supporting members to deliver that over the next two years.”  

The ABI board currently comprises 24 senior UK insurance leaders.