MANCHESTER, 14 April 2008 – Aon Risk Services, the UK’s leading insurance broker, has been appointed by Tangerine Confectionery to provide risk management advice and design an insurance programme for the fast-expanding UK confectioner, which will directly enhance its bottom line as well as delivering improved balance sheet protection. 

Blackpool head-quartered Tangerine is one of Europe’s largest sweet manufacturers and produces some of the most well known brands in the industry including, Princess Marshmallows, MOJO chews, Taveners Proper Sweets and Anthon Berg premium chocolate. At the start of 2008, it acquired Monkhill Confectionery, which makes Butterkist popcorn, Sharpes Toffees and Dip Dab amongst other well known brands, from Cadbury Schweppes for £58 million, creating a business with a turnover of £150 million and 1,500 employees.

The food and drink sector is both dynamic and competitive with businesses facing risks ranging from product recalls and food terrorism to water supply issues. In addition, increasing competition and costs, combined with the effects of the recent credit crunch, dictate that the businesses who will be most successful are the ones that drive out unnecessary cost but at the same time have the best and most effective risk management and financing strategies.

Aon is the leading adviser to the sector and is partnering with Tangerine to achieve two key objectives: firstly, it will reduce the ‘total cost of risk’ for the fast-growing company by significantly reducing up-front insurance premium spend, obtaining better payback from risk management investment and ensuring claims and the cost of claims are significantly reduced. Secondly, working in partnership with the Tangerine management team, Aon will proactively identify and manage risks and threats to their business, to help provide a robust platform to support their future growth.

James Moores, business development manager, Aon Risk Services, Manchester, comments:

“Food and drink companies face more risks doing business in today’s world than ever before. Reducing the impact of these threats entails analysing the impact of all the risks facing the organisation and developing, in partnership with them, a formalised plan to ensure they can continue to operate in any eventuality and keep commitments to their suppliers and customers. What is critical to any business in the sector is that it is their product on the shelves – not their competitors.

“In addition, by analysing all the risks, we can actually make a positive effect in the bottom line by reducing the amount the company pays for insurance and getting the right cover in place. Essentially, we are working with Tangerine to help protect and grow the wealth of the business.”

Steve Dodds, finance director at Tangerine Confectionery: “Aon demonstrated a clear understanding of the risk issues faced by our sector and the need to bring risk management to the forefront of our agenda, placing less reliance on purely buying insurance for insurance’s sake and really ensuring we get the best return on any spend. We are an ambitious company and as we continue to grow, our work with Aon will ensure we can focus on what we are good at – the future growth and continued success of our business.”

-ENDS-

For more information contact:

James White

0207 086 0067

james.white@aon.co.uk

About Aon

Aon Corporation (NYSE:AOC) is the leading global provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting. Through its 36,000 colleagues worldwide, Aon readily delivers distinctive client value via innovative and effective risk management and workforce productivity solutions. Our industry-leading global resources, technical expertise and industry knowledge are delivered locally through more than 500 offices in more than 120 countries. Aon was named the world’s “best broker” by Euromoney magazine’s 2008 Insurance Survey. Aon also was ranked by A.M. Best as the number one global insurance brokerage in 2007 based on brokerage revenues, and voted best insurance intermediary, best reinsurance intermediary, and best employee benefits consulting firm in 2007 by the readers of Business Insurance. For more information on Aon, log onto www.aon.com

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