ABI welcomes UK government’s new chancellor Sajid Javid

As Prime Minister Boris Johnson started selecting his cabinet yesterday, after being chosen as leader of the Conservative party, his choice of Sajid Javid for chancellor was welcomed by the Association of British Insurers (ABI).

ABI director general Huw Evans said he had “worked closely with Sajid Javid in the negotiations to establish Flood Re”, saying he looked forward to his tenure as chancellor. “During his time in government, Sajid Javid has proved himself to be someone with a good grasp of the vital role our world-leading insurance and long-term savings industry plays in delivering economic stability and protection for businesses and individuals.

“Under his leadership, the Treasury will need to redouble its efforts to implement an orderly Brexit, with a transition plan, that sets the UK up for a prosperous future relationship with both the EU and the rest of the world.”

Evans also highlighted the reappointment of Amber Rudd as secretary of state at the Department for Work and Pensions, as a positive development.

“I’m pleased Amber Rudd has been reappointed as Work and Pensions Secretary with lead ministerial responsibility for equalities,” he said.

“Our sector has proved itself to be a valuable partner to the government in recent years, helping to ensure the on-going success of [pension] automatic enrolment, supporting the implementation of the pension flexibilities and working on practical ways to bring the pension system into the modern era. It’s good to know we will be able to continue the relationship we have with Amber Rudd in taking these initiatives forward, and I look forward to updating her on the progress our sector is making around diversity and inclusion.”

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