Chartered Insurance Institute
The CII's purpose, as set out in its 1912 royal charter, is to 'Secure and justify the confidence of the public' in its members and the insurance sector as a whole.
[4] In April 2022 Alan Vallance was appointed as the CEO of Chartered Insurance Institute, taking over after Sian Fisher's 6-year tenure.
In October 2023, news reports suggested that CII had announced the departure of CEO Vallance in Q2 2024, potentially, to take up an equivalent role at the Institute of Chartered Accountants in England and Wales (ICAEW).
The second local institute to be formed was the Insurance and Actuarial Society of Glasgow founded in 1881,[7] which held education as its main focus.
The purchase of the freehold on the land and the construction of the building was funded through donations amassed between 1919 and 1932, and debentures issued to insurance companies.
The CII decided to sub-let part of the CISI's existing office space at the prime location of 20 Fenchurch Street (known as the ‘walkie talkie’) from early 2021.
The arrangement will see the CISI remodeling their existing space in the building to create a new physically separate office for the CII (for a lease of five years) and will form the main headquarters for both international organizations.
Two Scottish Local Institutes obtained the grant of differenced versions, incorporating a castle in Edinburgh and a lamb in Perth.
By comparison, today members of the CII are open to anyone connected with insurance or financial services, including students intending to join the profession.
Members must first qualify themselves by passing a rigorous examination process and obtain the required minimum credits for the respective designation, after which they can request the grant for a new title at a general meeting of the membership.
If the Privy Council deem the petition agreeable, a minister signs an order allowing the CII to incorporate the right to grant and award the new title.
These objectives were then written into the 1912 Charter as the obligation for the CII to maintain a library of resources related to insurance for the benefit of its members.
In 1934 the illustrator C. Walter Hodges painted a frieze that surrounds the four walls of the museum area, depicting allegories of marine, fire, accident, and life insurance.
The professional body's move from Aldermanbury to a smaller, more modern space in the city, resulted in the CII launching an ‘Our History’ website dedicated to bringing the heritage of the organization, and the wider evolution of insurance, to life.
There are also digitalized versions of hundreds of insurance-related documents, dating back as far as 1669, plus rare, no longer in print books, that give valuable insight into past insurance processes.
