Huw Evans to replace Otto Thoresen as ABI director general

Otto Thoresen will assume the chairmanship of the National Employment Savings Trust.

The role comes as the ABI continues in its modernisation agenda under the chairmanship of Paul Evans.

Evans said: "In the current environment of high levels of regulatory and legislative change across the insurance sector, the need for an effective trade body is greater than ever - there is huge value to be gained from collaborative efforts on key policy issues.

"My experience of working with ABI members on issues as varied as Flood Re, pension reform and the ageing society has shown me the power and potential of what we can achieve as an industry when we work together.

"Otto and I have worked very closely over the last few years and I am looking forward to accelerating the momentum we have established".

Thoresen said: "It has been a privilege to lead the ABI during a critical point in its evolution. While it will be a personal wrench to leave the organization, the opportunity to Chair the trustee board of NEST at a key stage in the delivery of pension reform was an opportunity I couldn't pass by. The role also gives me the scope to develop some of my other interests, in the third sector and elsewhere."

Barry O'Dwyer, managing director, adviser & workplace at Standard Life, who was recently appointed the new Chairman of the ABI Long Term Savings and Life Insurance Committee (LTSLIC) said: "I think this is a great appointment for the ABI. As deputy director general Huw Evans has shown that he can lead the industry through challenging times.

"As the deadline approaches for the implementation of the Budget reforms and with a General Election on the horizon, our industry will need a strong voice and an effective trade body. I believe that the modernisation of the ABI, begun under Otto Thoresen's leadership, will deliver good outcomes for our industry and I look forward to working with the ABI during this busy, exciting time."