Graduates 'may shun banking for insurance sector'

By Marianne Straker, Thu 5 Mar 2009 - Published in Life Insurance

More graduates could look for jobs in the insurance sector as a result of the banking crisis, it has been claimed.

Addressing the Chartered Insurance Institute (CII) British Insurance Brokers Association east Midlands market forum in Leicester, chief executive of the CII Dr Sandy Scott said the effects of the economic downturn will be far-reaching.

"Some small silver lining for the insurance industry might be that, with some timely effort on our part, a generation of recruits that would have looked to banking are now there to be persuaded of the marvellous opportunities to be had in the world of insurance," he continued.

Dr Scott went on to say that in order to maintain competitiveness it is crucial that insurance companies are able to recruit the best possible talent available.

Earlier this week, a spokesperson for the Consumer Credit Counselling Service claimed banks and creditors should take responsibility for the level of personal debt in the UK.

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