The Association of British Insurers (ABI) has appointed a former British Bankers' Association (BBA) executive, Peter Vipond, as its new head of financial regulation and tax.
Vipond will manage the ABI's work on solvency and capital in both primary and secondary markets, financial reporting, taxation and the supervision of financial institutions.
He has been brought in specifically to liaise with the Financial Services Authority (FSA) over the co-ordination of the new regulatory regime which will govern the ABI's members. Vipond was previously director, strategy and international at the BBA, specialising in regulation.
The ABI and BBA confirmed earlier this month that a combined strategy committee had been set up to discuss a possible merger between the two associations.
Vipond will report directly to the ABI's director general, Mary Francis.
She said: "I am delighted Peter has joined us. There is a fast changing regulatory agenda facing the insurance industry. The EU is already starting further work on solvency and the FSA's Tiner review is looking at many of the prudential issues. This is the right time to strengthen the ABI's capabilities."
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