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Thoresen Gives Back
The insurance industry has been vilified in the online and offline press in a similar way to UK investment banks. One of the legitimate criticisms is that few of the ‘fat cats’ will take a significant pay cut and work for one of their Governing Bodies to make the finance market a better place.
Otto Thoresen is actually one of the few who will actually help change that view. He is the new Director General of the Association of British Insurers. He was formerly the head of Aegon UK, who are one of the leading providers of Endowment Life Assurance.
He has noted that there are far too many dinners, but has not regretted making the move. He stated:
"My agenda as director-general is based on the real belief that as an industry we can offer positive solutions and we can make a real difference to the quality of someone's life.
"But we have to improve our positioning, regulation, the way we deal with customers, and their understanding of what we do. A gap exists between us and how we deliver our business."
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