The ABI is pleased to announce that Wellington Management has become its latest associate member. Wellington Management serves as an adviser to clients in over 60 countries and is one of the world’s largest independent investment management firms with over US$ 1 trillion in assets under management as at 31st March 2019.
The ABI’s associate membership category was established in 2016 and now has more than 30 members. It is designed to serve companies with an interest in insurance and the work of the ABI but who are not eligible for full membership, such as legal firms, consultants, software firms and asset managers. Associate members benefit from services including access to the full range of ABI statistics, industry updates, networking opportunities and reduced rates for ABI events.
ABI Director General, Huw Evans, said:
“Insurers and investment managers hold trillions of assets under management. It’s vital that the two markets align to invest in a way that benefits the wider world, particularly from an environmental perspective. It’s great to have Wellington on board and we look forward to working with them.
Bob Sharma, who leads Wellington’s insurance team in EMEA, added:
“With over 40 years’ experience managing insurance assets, Wellington Management is honoured to be the only investment manager to have become an associate member of the Association of British Insurers. Beyond our role as a trusted steward of our clients’ capital, our commitment to British insurers requires a deep understanding of both the regulatory environment and the challenges facing their investment portfolios.
“It is widely recognised that one of the most difficult challenges currently facing insurers is climate change, an area where the ABI has been actively helping insurers to understand the risks and related policy initiatives. Wellington Management is at the forefront of integrating climate science into our investment research through our alliance with the Woods Hole Research Center, the world’s leading independent climate research institute. We believe this relationship will help us to better understand how climate change may impact global capital markets and our clients’ investments as they adapt to meet the demands of changing policies.
“We look forward to working with the ABI as they continue to play a vital role in facilitating risk taking, innovation and investment within the insurance sector.”