ABI Association of British Insurers Feedback
Published / Last Updated on 06/04/2008
ABI Association of British Insurers Feedback
Only 6 per cent of life offices and reinsurers believe the ABI does a good job representing its members according to a survey by Lifesearch.
A significant 67 per cent say it needs to improve and 24 per cent decline to comment.
Our view
Given the recent tax changes to capital gains tax favouring direct investment rather than investment through insurance funds and the attack on pension funds by reversing decisions on many of the at retirement options under pension simplification, they have caused considerable expense to insurers.
They then announce a low charge “National Pension” pension account possibly replacing personal pensions and stakeholder pensions altogether with millions wasted for insurers.
This Government appears to have done little to work with Insurance Companies and therefore part of the blame must be left at the door of the ABI.
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