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ISI reviews its role

The Investment Savings and Insurance Association (ISI) is reviewing its role and its function following the resignation of chief executive Roger Gill.

Friday, September 25th 1998, 12:00AM

by Philip Macalister

The Investment Savings and Insurance Association (ISI) is reviewing its role and its function following the resignation of chief executive Roger Gill.
Chairman Ross McEwan says it is an opportune time to conduct a review, especially as there are so many changes taking place in the industry.
The two big changes are the on-going merger and acquisition activity amongst ISI members and the opening up of work cover in response to changes taking place to the Accident Compensation and Rehabilitation Corporation.

The latter development is likely to see further blurring of the lines between traditional financial service businesses with some of the life and fire and general insurance companies moving into new areas.
McEwan says the ISI has had some discussions with the Insurance Council and the Health Association with regards to getting together.
He stresses these are very preliminary talks and they may lead to nothing.
"With all the changes going on it is worth having a review,'' he says. While issues are being explored the ISI "may stay exactly where it is."
McEwan says the ISI's search for a new ceo has been put on hold following the decision to review the association's role.
In the meantime Vance Arkinstall has been appointed acting chief executive. Arkinstall has just finished a contract with WestpacTrust overseeing the integration of its financial services division into the bank. Prior to that he was with Norwich Union.
Arkinstall's two main roles are to push the superannuation issue with politicians and to work on tax matters.
The ISI has contracted Infometrics economist Gareth Morgan to do some work on a tax simplification package.
McEwan says the ISI's main aim, on the tax front, is to ensure all investment products are on a level playing field, then people "can put their money where they expect to get the best returns".
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