ABI lobbies for tax reform

UK insurers are calling on the government to reform both corporate and personal taxes in a bid to retain and attract insurance business, capital and key senior executives. A survey conducted by the Association of British Insurers (ABI) revealed that 80% of UK insurance executives believe that the number of insurance firms in the UK will fall unless the government takes action to improve competitiveness. In a new report on “UK competitiveness: The way forward for insurance”, the ABI said changes to taxation are key to improving the competitive position of UK insurers in a global industry.