By Maria Ward-Brennan The Association of British Insurers’ (ABI) has revealed its members contributed a record £18.5bn in tax to the UK’s public finances over the last financial year. The insurance trade body shared its total tax contribution for its members accounting periods for the 12 months up to 31 March 2024 with City AM. The data, produced by Big Four firm PwC, marked over a nine per cent increase from the previous report, which stood at £17.2bn over 2021-22. The total is made up of £4.1bn included VAT, corporation tax and employment taxes, while £14.4bn was through insurance premium ta…