Paul Evans has been nominated by the ABI board to succeed Tidjane Thiam of Prudential who will have completed his two-year term.
He will be elected on 3 July and will be formally confirmed at the AGM on 1 October.
Mr Evans has been group chief executive of AXA UK since October 2010, having previously been chief executive of AXA Life.
He served on the ABI's long-term savings and Life Insurance Committee between 2003 and 2010, at which point he became chairman of the ABI's General Insurance Committee and a deputy chairman of the ABI Board.
During the past four years, he has led insurers' engagement with the Government on the reforms necessary to reduce the cost of motor insurance and ensured member support to critical initiatives such as Flood Re.
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Mr Evans said: "I am honoured to be chosen, especially succeeding Tidjane Thiam who has been instrumental in refocusing the ABI to address the many challenges that the insurance industry faces.
"Insurance is one of Britain's business success stories, providing jobs, financial security for millions of homeowners and businesses, and as a major contributor to economic growth.
"I am immensely proud of the work that insurers do to help people live their lives to the full, and businesses to reach their potential by protecting them from the cost of the unexpected, helping them build their financial futures, and supporting them when they need us most.
"Insurance and long term savings are as relevant today as they have ever been. I look forward to helping members to shape a future in which we are credited for operating responsibly, transparently and with a focus on delivering great value to our customers."
Otto Thoresen, director general of the ABI, said: "Paul Evans is a widely respected business leader. His experience and deep understanding of both the general and long term sectors of the industry, allied with his enthusiasm and commitment will be a huge asset in driving the ABI's challenging agenda in the run up to the general election and beyond.
"I am looking forward to working with him to further strengthen the voice and impact of the ABI on behalf of an industry critical to a resilient society and successful economy."
He thanked Mr Thiam for his "outstanding leadership".