Tony Blair's ministerial re-shuffle has seen some key jobs that affect the insurance industry change hands.

Treasury - John Healey replaces Stephen Timms as financial secretary to the Treasury , leading the government's financial services policy.

Flooding - Elliot Morley is expected to continue to take a lead on flooding issues as minister of state in the the Department for the Environ-ment and Rural Affairs.

Regulation - Cabinet ministers John Hutton and Jim Murphy are also expected to make an impact as leaders of the newly-created Better Regulation Executive.

Compensation culture - This will now fall to Harriet Harman as minister of state for the Department of Constitutional Affairs. David Lammy has switched to culture, media and sport.