Aviva, Zurich & ABI cut ties with scandal-hit CBI amid sexual misconduct claims

UK insurer  Aviva has terminated its membership of the Confederation of British Industry (CBI) on Friday (April 21) joining an exodus of members in the wake of recent allegations of sexual misconduct at the influential lobby group.

Earlier this month, an investigation by The Guardian revealed a spate of misconduct allegations against senior members of staff within the CBI.

A spokesperson for Aviva said: “In light of the very serious allegations made, and the CBI’s handling of the process and response, we believe the CBI is no longer able to fulfil its core function – to be a representative voice of business in the UK.

“We have therefore regrettably terminated our membership with immediate effect.”

According to Reuters, insurers Phoenix Group, Zurich Insurance Group and the Association of British Insurers (ABI) have quickly followed suit in cutting ties with the lobby group, citing ‘deep concern’ over the allegations, after the British Insurance Brokers’ Association (BIBA) also pulled out earlier this week.

Global asset manager Abrdn is said to be mulling its stance and may cancel its membership after a review.

In a statement published this morning, CBI president Brian McBride said: “The latest allegations put to us by The Guardian are abhorrent and our hearts go out to any women who have been victims of the behaviour described.

“While the CBI was not previously aware of the most serious allegations, it is vital that they are thoroughly investigated now and we are liaising closely with the police to help ensure any perpetrators are brought to justice.”

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