Eric Galbraith, who oversaw a turbulent decade of regulation and reform as head of the UK’s peak insurance broking body, is to end his tenure as CEO.

Citing the conclusion of an internal strategic review, he says it is the “right time to hand over the reins” at the British Insurance Brokers’ Association (BIBA).

“I have had an amazing time at BIBA and have been privileged to lead a team dedicated to supporting members’ interests,” Mr Galbraith said.

“However, I remain committed to leading the association until my successor has been appointed so I can ensure a smooth transition for the association.”

A straight-talker who started in the insurance industry as a 16-year-old office boy for Macalister & Alison, Mr Galbraith led BIBA during a period of unprecedented upheaval in the insurance industry.

Two years after he was appointed CEO in 2003, insurance intermediaries came under the regulatory scope of the Financial Services Authority for the first time.

Mr Galbraith oversaw the merger between BIBA and the Institute of Insurance Brokers late last year and recently lobbied for changes to the Financial Services Compensation Scheme.

Earlier this year he also pushed for the creation of an expanded insurance intermediary association incorporating brokers, managing general agents and aggregators.