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The head of one of the UK's most powerful financial lobby groups has resigned after six months in the job.

Kerrie Kelly, director general of the Association of British Insurers (ABI), has stepped down for personal reasons, the group said in a statement.

The ABI's members own about 15% of all shares listed in London, making it one of the most influential investor groups in the City of London.

The ABI statement said Ms Kelly, 54, would be returning to Australia.

Outgoing ABI chairman, Archie Kane, said: "Although she has only been here for a short time, Kerrie has had the drive and energy to make an impact on the organisation and the industry during an important period.

"I am grateful for her contribution and wish her well in her future endeavours," he said.

Ms Kelly, former chief executive of the Insurance Council of Australia, moved to the UK with her husband last year and took up the post at the start of 2010.

The Times newspaper reported that she is thought to have agreed the financial terms of her departure.

Maggie Craig, the ABI's director of life and savings, will take over as acting head during the search for Ms Kelly's successor.