| Lots of different types of company offer insurance. The main ones are: |
- Life assurers/insurers. They only write life insurance, pensions, savings and investment, and some types of health insurance.
- General insurance companies. They write general assurance (car, home and contents and so on) but not life assurance.
- Composite offices. They offer both types of cover
- Lloyd’s. A marketplace made up of lots of different underwriting syndicates, operating under a common set of rules and administration.
- Mutuals. Most insurers are publicly quoted companies but some are mutuals - owned by their members, a bit like building societies. If you have a with-profits life or pensions policy and they decide to de-mutualise, you may be in for a windfall, but not if you have other types of insurance.
- Friendly societies. A type of mutual, usually specialising in savings and protection policies.
- Medical providents. Another type of mutual, but one that specialises in health insurance.
|
 | | | | | Tip
Before talking to anyone about insurance, do your homework first. You will better understand what they are saying, save yourself time, and help ensure that you don’t overlook anything. | |
| | | |
|
Copyright The Financial Times Limited 2011. You may share using our article tools. Please don't cut articles from FT.com and redistribute by email or post to the web.
YOUR MONEY 
