Jon has been on the ABI Board since January 2015, chairing the ABI Audit Committee between 2016-2018. His appointment follows the resignation of Amanda Blanc last week.
Jon Dye said:
"I am delighted to be taking on this role at such a crucial time for our world-leading industry. Insurance and long-term savings play a vital role in the UK economy and in the lives of the people we help and support. We face a period of unprecedented challenge and opportunity so it’s important for the industry to speak with a clear, authoritative and constructive voice. Amanda Blanc is a tough act to follow, but I am looking forward to working with the ABI Board on the many and varied issues that face the industry.”
Bronek Masojada, a member of the ABI Board Appointments Committee, commented:
"Jon was the clear choice of the Board to lead it over the important year ahead. He is highly respected by his Board colleagues for his commitment, judgement and open way of working."
Huw Evans, ABI’s Director General, said:
"Jon brings 30 years’ experience of the insurance industry to the role of ABI Chair. His insights and energy will be invaluable in representing all parts of the insurance and long-term savings market as we rise to the challenges and opportunities of our fast-changing world."
Engineering Inspection and Special Services
In prior years Engineering Inspection and Special Services were included within the GWP and COR numbers. This has been reviewed in preparation for the introduction of the new International Accounting Standard for Insurance Policies (IFRS 17) which is effective from 1st January 2021.
The GWP and COR figures shown for Q1 2019 and 2018 exclude Engineering Inspection and Special Services. The GWP and COR figures reported at Q1 2018 were inclusive of Engineering Inspection and Special Services.
The information contained in this press release relates to Allianz Insurance plc. Allianz Insurance plc is one of the largest general insurers in the UK and part of the Allianz Group.
The Allianz Group is one of the world's leading insurers and asset managers with more than 92 million retail and corporate customers. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 673 billion euros on behalf of its insurance customers. Furthermore our asset managers PIMCO and Allianz Global Investors manage more than 1.4 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2018, over 142,000 employees in more than 80 countries achieved total revenues of 131 billion euros and an operating profit of 11.5 billion euros for the group.
These assessments are, as always, subject to the disclaimer provided below.
Cautionary note regarding forward-looking statements
This document includes forward-looking statements, such as prospects or expectations, that are based on management's current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements. Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz Group's core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates, most notably the EUR/USD exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions including and related integration issues and reorganization measures, and (xi) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacerbated by terrorist activities.
No duty to update
The Allianz Group assumes no obligation to update any information or forward-looking statement contained herein, save for any information we are required to disclose by law.