Mary Francis to leave the ABI
The woman responsible for turning the Association of British Insurers into a powerful advocate of shareholder power is to step down from her post as the organisation's director general.
Mary Francis will leave next March after five years in charge.
During her time in charge she has been responsible for giving the ABI a powerful voice in the corridors of power in Westminster and the City.
Francis has been at the forefront of putting pressure on the government to resist putting a cap on the liability faced by auditors despite the pressures for such a move in the wake of the collapse of Enron. No decision has yet been taken by ministers.
She has also played a key role in making insurers adapt to changes in investment markets, increased international regulation and a heightened risk from terrorism, reported the Financial Times newspaper.
‘I hope I have moved the ABI on from being a competent trade body into an influential voice,’ she said.