The Association of British Insurers (ABI) has named Craig Thornton as the new chair of its General Insurance Council (GIC).
Thornton is currently general insurance and protection director at Lloyds Banking Group.
As Chair, he will help set the ABI’s strategic direction on issues of interest to the general insurance market.
Currently chair of the ABI’s Audit Committee, and ABI Board member, Craig succeeds Andy Watson, CEO, Ageas UK.
Thornton joined Lloyds Banking Group General Insurance Director in 2013 and became General Insurance and Protection Director in 2016.
He moved from Aviva where he was UK Life CFO and a member of the UK Board, having previously held roles as UK commercial director and UK CRO.
Thornton is a qualified actuary by profession and has significant experience across general and life insurance as well as wholesale markets through spending 11 years at Swiss Re.
He previously served as chair of the Industry Advisory Board which supported and led to the creation of Flood Re.
Thornton said: “The Covid-19 crisis has put the industry right under the spotlight and it’s more important than ever for the sector to work together on lessons from this and highlight the importance of our role in getting the UK back on track.
“I’m looking forward to taking on the role as Chair of GIC at such a crucial time when alongside the post-pandemic recovery, there are other areas of critical importance including Brexit, regulation and improving the reputation of the industry to build consumer confidence.”
Huw Evans, director general, Association of British Insurers, said: "Craig brings considerable industry experience having worked across reinsurance, commercial lines and personal lines in his career so far. His leadership skills, such as his role in developing the world first Flood Re scheme, will be invaluable in helping the general insurance sector speak authoritatively across the wide range of challenges it faces.”
James Dalton, director of general insurance policy at the Association of British Insurers, added: “I am delighted that Craig Thornton has become Chair of the GIC. This is a key role in helping shape the strategy of the general insurance market – one that plays a pivotal role in the lives of millions of people and businesses. As we start to emerge from the Covid-19 crisis, we enter a critical time for the industry. It is a time when highlighting to policymakers, the regulators and customers the key role that our industry plays in peoples’ lives and the UK economy has never been more important.”