Insurers Back UK Gov’t’s Financial Inclusion Plan – Law360

Report on the Association of British Insurers’ Support for UK Financial Resilience Initiative

1.0 Introduction

On November 6, 2025, the Association of British Insurers (ABI) issued a statement of support for a new United Kingdom government plan. The initiative is designed to improve public access to financial services and enhance the economic resilience of households. This endorsement signifies a critical public-private partnership aimed at fostering financial stability, a cornerstone for achieving several United Nations Sustainable Development Goals (SDGs).

2.0 Key Objectives of the Government Initiative

The government’s plan, as supported by the ABI, focuses on two primary strategic aims:

1. Improving Access to Financial Services: To ensure wider and more equitable availability of financial products and advice, thereby promoting financial inclusion.
2. Boosting Household Economic Resilience: To strengthen the ability of households to withstand financial shocks, manage income volatility, and build long-term financial security.

3.0 Alignment with Sustainable Development Goals (SDGs)

The initiative’s objectives are directly aligned with the 2030 Agenda for Sustainable Development. The collaboration between the government and the insurance industry demonstrates a commitment to the following key SDGs:

• SDG 1: No Poverty: By enhancing economic resilience and providing access to financial safety nets like insurance, the plan directly contributes to preventing households from falling into poverty and helps create pathways to financial stability.
• SDG 8: Decent Work and Economic Growth: A financially resilient population is fundamental to inclusive and sustainable economic growth. Access to financial services empowers individuals, supports entrepreneurship, and creates a more stable economic environment.
• SDG 10: Reduced Inequalities: The focus on improving access to financial services for all households is a direct measure to reduce economic inequalities, ensuring that vulnerable populations are not left behind.
• SDG 11: Sustainable Cities and Communities: Economically resilient households contribute to the overall stability and sustainability of communities, making them better equipped to handle economic and social challenges.
• SDG 17: Partnerships for the Goals: The support from the ABI for a government plan exemplifies the multi-stakeholder partnerships essential for achieving the SDGs. This collaboration between the public sector and a key private sector association is crucial for effective implementation.

4.0 Conclusion

The endorsement by the Association of British Insurers of the government’s financial resilience and inclusion plan marks a significant step towards building a more economically secure society in the United Kingdom. This partnership strongly reinforces the nation’s commitment to achieving key Sustainable Development Goals, particularly those related to poverty reduction, economic growth, and reduced inequality.

SDGs Addressed in the Article

• SDG 1: No Poverty

  The article’s focus on boosting “households’ economic resilience” directly connects to SDG 1, which aims to end poverty in all its forms. Economic resilience is a key factor in preventing households from falling into or remaining in poverty, especially in the face of economic shocks. Furthermore, the plan to “improve access to financial services” is a critical component of poverty reduction strategies, enabling savings, credit, and insurance.

• SDG 8: Decent Work and Economic Growth

  The government’s plan to “improve access to financial services,” supported by the Association of British Insurers, aligns with SDG 8. This goal promotes sustained, inclusive, and sustainable economic growth. Access to financial services is essential for individuals to start businesses, invest in education, and participate more fully in the economy, thereby fostering economic growth.

Specific SDG Targets Identified

1. SDG 1: No Poverty

   • Target 1.4: By 2030, ensure that all men and women, in particular the poor and the vulnerable, have equal rights to economic resources, as well as access to basic services, … and financial services, including microfinance.

     The article’s mention of a plan to “improve access to financial services” directly corresponds to this target, which explicitly names financial services as a key area for ensuring access for all, particularly vulnerable populations.

   • Target 1.5: By 2030, build the resilience of the poor and those in vulnerable situations and reduce their exposure and vulnerability to … economic, social and environmental shocks and disasters.

     The stated goal to “boost households’ economic resilience” is a direct reflection of this target. Access to insurance and other financial services is a primary mechanism for building resilience against economic shocks.

2. SDG 8: Decent Work and Economic Growth

   • Target 8.10: Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all.

     The article highlights a government plan supported by the Association of British Insurers. This collaboration to “improve access to financial services” is a clear example of an initiative aimed at fulfilling Target 8.10, which focuses on expanding financial inclusion for the entire population.

Indicators for Measuring Progress

The article does not explicitly mention any indicators. However, based on the identified targets, the following indicators are strongly implied as measures of success for the government’s plan:

1. Implied Indicators

   • Indicator 1.4.1: Proportion of population living in households with access to basic services.

     While this indicator is broad, financial services are increasingly considered a basic service necessary for economic participation. The success of a plan to “improve access to financial services” would be measured by an increase in this proportion.

   • Indicator 8.10.2: Proportion of adults (15 years and older) with an account at a bank or other financial institution or with a mobile-money-service provider.

     This is a direct and primary indicator for measuring progress on the goal to “improve access to financial services.” An increase in the percentage of adults with a bank or insurance account would be a key metric to track the plan’s effectiveness.

Summary Table of SDGs, Targets, and Indicators

Source: law360.com