Kelly dumped as ABI director general

Former Insurance Council of Australia executive director and chief executive officer, Kerrie Kelly, has been pushed out as head of the Association of British Insurers – the powerful insurance and asset management industry body – after less than six months in the post.

Kelly's departure was reported as a surprise by the UK’s ABP Club as she was thought to have made a generally good impression on the industry.

The ABI board, which is made up of senior executives from the biggest UK insurers, considered Kelly's position at one of its regular meetings on Wednesday, according to the UK’s Financial Times newspaper

The ABI told the FT on Thursday that Kelly was "stepping down from her role ... for personal reasons".

Maggie Craig, director of life and savings at the ABI, will serve as acting director-general while a permanent replacement is found.

Kelly moved to the UK from Australia in order to take up the role in February this year.

Her appointment followed the departure of Stephen Hadrill, who moved to head the Financial Reporting Council late last year.

Some industry figures were surprised at the news, the newspaper reported. "We were surprised to hear this as she had made a very good first impression in the industry,” Philip Warland, head of public policy at Fidelity International, said.

A source close to the ABI told the newspaper there may have been a clash between Kelly's style and others at the ABI.

"She came from a fading trade organisation that she had to take aggressive action and [make] staff cuts to resuscitate,” the source said. “She was not brought to the ABI to do that. The ABI is a strong trade body with a strong management team.”

The ABI board meeting was the last to be chaired by Archie Kane, executive director of insurance at Lloyds Banking Group, who is handing over to Legal & General CEO Tim Breedon.

"Although she has only been here for a short time Kerrie has had the drive and energy to make an impact on the organisation and the industry during an important period,” Kane said:

Source: FT