Wealth management

T. Rowe Price Group Inc. credited growth in revenue and assets under management for a 24.4% jump from a year earlier in third-quarter net income.

Aon Corp. that it has hired Craig A. Streem as a vice president and the head of investor relations.

Marsh & McLennan Cos. Inc. is abandoning its practice of accepting contingency fees from insurance companies in light of recent allegations by New York Attorney General Eliot Spitzer.

The relatively small participation in insurance sales by banks with less than $1 billion of assets shows surprising persistence, according to the author of the American Bankers Insurance Association’s annual study of banks in insurance.

Minnesota's St. Paul Travelers Cos. Inc. said Monday that it has received a subpoena from New York Attorney General Eliot Spitzer seeking information on relationships between insurance brokers and insurance companies.

Affluent investors are turning away from traditional investment products and toward alternative investments as they grow less and less confident about the economic recovery.

Aon Corp., the big Chicago insurance broker, has announced that it would stop accepting contingent commissions from insurance companies.

DFA Capital Management Inc. in Purchase, N.Y., said Monday that it has elected Dean O'Hare, a former chairman and chief executive of Chubb Corp., to its board of directors.

Accenture, a New York con-sulting firm, said Monday that it has been chosen to execute its underwriting solution in Fireman's Fund Insurance Co.'s personal and commercial lines business units.

The Hartford Financial Services Group Inc. announced Monday the promotion of Judith A. Patterson to executive vice president of its First State Management Group subsidiary.

Minnesota's St. Paul Travelers Cos. Inc. said Monday that it has received a subpoena from New York Attorney General Eliot Spitzer seeking information on relationships between insurance brokers and insurance companies.

PMA Capital Corp. has promoted Lisa A. Hanssen to assistant vice president and assistant general counsel.

Pan-American Life Insurance Co. in New Orleans has announced the appointment of Jose S. Suquet as president, chief executive officer and board member.

Minnesota's St. Paul Travelers Cos. has received two awards for its implementation of interface technology that lets agents and brokers manage insurance sales, service, and renewals directly from within their agency management systems, the company said Friday.

Liberty Mutual Group in Boston has announced that it was subpoenaed by the New York attorney general as part of a continuing, industrywide investigation of sales practices.

American International Group Inc. announced Thursday that it has been told by the United States Attorney for the Southern District of Indiana that it is a target of a federal grand jury investigation.

The New York-based insurance broker Willis Group Holdings said Thursday that it is ending the practice of accepting contingency payments from insurers.

A.M. Best Co. in Oldwick, N.J., said Thursday that it has placed the A-plus financial strength rating for the primary life insurance entities of ING Group's U.S. operations under review with negative implications.

Asset Management Advisors, an affiliate of SunTrust Banks Inc., said it has opened a second office in Atlanta to accommodate growth in its wealth management business.