| About the Investment and Life Assurance Group Limited
History
The Investment and Life Assurance Group (ILAG) is a representative trade body which acts as a forum for producers or distributors of life and health protection insurance and of pension and investment products. It seeks to:
- Promote understanding of the regulatory, legislative and market environment in which members operate
- Provide a vehicle for members to exchange views and information
- Engage and build relationships with regulatory, government and industry bodies
The objectives are:
- To be a positive influencing force within the industry and with regulators and government, giving trusted advice and guidance from the practitioner point of view
- To provide regular forums for education, discussion and exchange of views between members
- To provide a voice for members issues and concerns by the facilitation of representations and consultation responses.
The Group was formed in 1972 as the Linked Life Assurance Group and initially focused on unit linked matters.
By 1994 our interests and those of our members had diversified and we changed the name of the Group to the Investment and Life Assurance Group.
We now represent members on all aspects of packaged products, other long term insurance business and health insurance in the UK.
In January 2008 ILAG became a company limited by guarantee, ILAG Limited.
Corporate Governance
ILAG is governed by an annually elected Board of Directors selected from the membership. The aim is to maintain a diversity of membership categories and business within the Board.
The main Board meets 8 times a year. Sub groups of the Board deal with Nominations, Operations and Communications.
The Board oversees ILAG’s activities. It considers pan industry developments and determines ILAG’s position after consultation with members and liaison with ILAG’s Strategy Groups.It delegates responsibility for the consideration of detailed matters to a range of Practitioner and Focus Groups.
Membership
Members are:
Product providers
Those supplying outsourcing services for any of the traditional life office function, such as administration, underwriting, claims and distribution
Those providing ancillary services to the financial services industry including actuarial and legal
These are legal members of ILAG Limited with voting rights at General Meetings.
Associate members are:
- Small Companies with, typically, three to seven named partners participating in ILAG activities
- Individual - sole traders, or individuals who trade as the sole director of a limited company
These are not legal members of ILAG Limited and have no voting rights at General Meetings.
Membership is by annual subscription.
ILAG Activities
ILAG runs a busy programme of seminars, workshops and forums and also facilitates discussion groups and debates. We attract high quality speakers from government, regulators, industry bodies and market practitioners.
ILAG events are free for members.
We are proud of our practitioner base and much of the technical work is carried out within the Practitioner Groups.
- Distribution PG
- Retail Distribution Review FG
Financial Reporting PG
ILAG Board - Non Executive Director DG
- Treating Customers Fairly FG
Innovations in Technology PG
Investment Products PG
Pensions PG
Protection PG
Protection Strategy PG
Regulation PG - Prudential Regulation Co-ordinating Group
Savings Strategy Advisory Group
Taxation PG
Communications
ILAG members receive regular communications, by e mail, on a wide variety of industry issues and EU developments as well as information about ILAG activities and events.
Website
ILAG’s website www.ilag.org.uk is a member based facility containing information on all aspects of ILAG’s activities and industry issues and developments.
ILAG Administration
ILAG operates a cost efficient virtual office with a small administration team that facilitates and manages the work carried out by the Practitioner Groups. We are committed to a paperless environment and most communications with members are by e mail.
How to Join
If you would like to join ILAG, or need more information, please contact:
Sue Rice
Group Director
01952 630093
sue.rice@ilag.org.uk
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