The Association of British Insurers (ABI) has welcomed the government's new plan to introduce boardroom pay disclosure requirements.

The move is in line with the ABI's recently published guidelines for share incentive schemes.

The plans, announced by Trade and Industry Secretary Stephen Byers, were designed to strengthen the position of shareholders and the link between pay and performance.

The ABI has written to advise listed companies of its new guidelines, said ABI investment affairs head Peter Montagnon.