Otto Thoresen leaves ABI for Nest chairman role

Thoresen will be succeeded by deputy ABI director-general Huw Evans and replaces Lawrence Churchill as chair of the Government-backed pension scheme Nest.

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 organisation, 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.”