The ABI has urged its members to avoid abstaining on resolutions at company annual meetings, revealed a report.
The ABI said insurers should have a clear policy, approved at board level, on voting on behalf of their life and pension funds at annual meetings.
According to the report, insurers in the past have tended to either support resolutions or abstain as a protest.
The ABI urged its members to make their voting policy publicly available, preferably over their websites.
Insurers should be sympathetic to calls from retail investors asking for information on how votes were cast, according to ABI advice. But it is against introducing a legal requirement for investors to disclose their voting records to the public, said the report.
The ABI reiterated its recommendation that investors should try to raise their concerns with companies before annual meetings, in an effort to resolve differences in private before any critical vote, added the report.
