The Association of British Insurers has today revealed the number of its members offering apprenticeship schemes has soared by 47%.

The ABI released the figure to mark National Apprenticeship Week in the UK, which runs from 5-9 March.

More than half of insurers were already doing so before the levy’s implementation, but the figure is now above three-quarters, at 82%.
 
The statistics, which cover the period from the introduction of the government’s apprenticeship levy, were derived from the ABI’s inaugural Diversity and Inclusion data collection, sourced from November 2017 to January 2018.

The same figures revealed that an estimated £55 million is being spent by the industry on training and development per year, including apprenticeships, management training and mentoring programmes targeted at the underrepresented within firms.
 
ABI director general Huw Evans, said: “The insurance industry has a strong track record of developing and nurturing talent, as demonstrated by the number of industry leaders that rose through the ranks to get to where they are today.

“This data demonstrates that firms are now investing huge amounts in providing alternative routes into the industry, and to see such an increase in the number of our members offering apprenticeships is very promising.”