Munich Re issues profit warning

Aon extends investment consulting to insurance market

Aon Hewitt is extending its investment consulting services to the insurance market at the same time as building on its existing offering to the corporate sector. With insurance companies facing fresh challenges in the way they manage their assets and liabilities, the new offering will provide advisory guidance and delegated investment services across a range [...]

Friends receives Greenwich award for corporate pensions

Friends Life has been named a Greenwich Quality Leader for 2012 for its defined contribution corporate pensions. Greenwich Associates provides decision-makers in financial services with expert advice and Friends received the highest ratings for overall quality from 18 leading employee benefit consultants. The insurer’s managing director of corporate benefits, Colin Williams, comments:”We’re delighted that Friends [...]

JLT Specialty launches Risk Practice division

JLT Specialty has launched a risk practice division following the reorganisation of its global risk solutions and regional partnership divisions. The firm provides specialist broking, risk management and claims consulting services to medium enterprises through to large and international companies, and the new division will have four key areas of focus: Communication, technology & media [...]

Electrical retailers to launch extended warranty comparison site

Major electrical retailers have offered legal undertakings to improve the way the UK’s extended warranties market works, the Office of Fair Trading (OFT) reports. Competition concerns in the £1 billion per year market prompted an OFT study and the promised measures include improving the information provided to shoppers and the launch of a comparison website. [...]

Mining insurance capacity down 30%

In 2011, the mining insurance market was hit by $2.7 billion in natural catastrophe losses and over 60 operational losses, totaling $835 million. According to a new report from Willis, the $3.5 billion estimated losses facing mining insurers has resulted in a 30% withdrawal in insurance capacity since the start of 2011. The report estimates [...]