Tidjane Thiam has been named as the next chairman of the Association of British Insurers (ABI).
Thiam, group chief executive of Prudential, takes over from Tim Breedon of Legal & General who will step down after two years as chairman.
Thiam has been an executive director at Prudential since 2008, having previously spent six years in executive positions at Aviva. He is a member of the Prime Minister's business advisory council.
Thaim said he was honoured to have been chosen to succeed Breedon.
"Insurance is one of Britain's business success stories and it continues to provide jobs, security and much of the long-term investment that drives economic growth. It remains one of our most important invisible export earners.
"Insurers need to continue working together in close partnership with government and regulators to find solutions to the challenges we collectively face - supporting our customers in a time of unprecedented austerity and developing practical policies that will promote sustainable growth," Thiam (pictured) added.
Otto Thoresen, director general of the ABI, said: "Tidjane Thiam is a globally recognised business leader whose understanding of the opportunities and challenges facing the global insurance industry will be a huge asset to UK-based insurers.
"I am looking forward to working with him to deepen the impact of the ABI as the authentic voice of an industry that is such a critical part of the UK's economic well-being."
He also thanked Breedon for his work during his chairmanship.
