AOC Aon Corp.

CHICAGO and LONDON, Jan. 23 /PRNewswire-FirstCall/ -- Reinforcing its commitment to large global companies and the London and Bermuda markets, Aon today announced a series of changes that will simplify its organization and greatly enhance the company's world class global risk management and insurance brokerage capabilities. (Logo: http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO ) To help bring to clients all its global capabilities within a single unified service platform, Aon has announced the creation of a new business unit to be called Aon Global. Aon Global will consist of the company's former Global Large Corporate business unit, Captives Services Group, International Risk Management Group (IRMG), Risk Consulting and Risk Engineering business units among others. Dennis Mahoney will assume the role of chairman for Aon Global, while Steve McGill will be the new unit's CEO. Steve will also continue in his role as CEO, Aon Risk Services Americas, based in Chicago. Additionally, under the joint leadership of Dennis and Steve, Aon will formalize a worldwide placement organization that will drive product innovation, coordinate carrier and market relationships, further share best practices across Aon and develop enhanced broking protocols. As part of this initiative, Dennis will relocate to Bermuda. "Our broking and placement capabilities are a cornerstone of client service," said Greg Case, president and chief executive officer, Aon Corporation. "Dennis' leadership and experience are unmatched in the industry. By being in Bermuda, leading the coordination and placement of major and complex risks for the world's largest companies, Aon can leverage his world-class broking skills on a global scale, where they can have the most significant impact on client value." Peter Harmer, who has for seven years served as chief executive officer of Aon Holdings Australia, has been appointed to succeed Dennis as chief executive, Aon Limited and country manager for Aon UK (which in addition to the insurance and reinsurance businesses of Aon Limited, also includes Aon Consulting UK). Peter will report to Greg Case. Dennis will continue to serve as chairman, Aon Limited to assist and ensure a successful leadership transition, and will then be succeeded by Steve McGill, who will serve as non-executive chairman, Aon Limited. In addition, Jonathan Palmer-Brown, chairman, Specialty Global Industries, has been appointed deputy chairman of Aon Limited. Both Dennis and Steve will continue to report directly to Greg Case. Said Case: "Peter is an exceptional, results-oriented leader with an outstanding track record in Australia, where he grew business and achieved results at every stage in his career. Under Peter's stewardship, the Aon businesses in Australia have strengthened their market position through a unified strategy and an integrated approach to developing client solutions. "With the support of Steve, a 27-year veteran of the London marketplace, and Jonathan, also a long-standing figure in the London market, Peter and his leadership team will be able to write the next chapter for Aon in the UK, ensuring that all the company's resources in the UK are combined and deployed to maximum effect, connection with the global network and even greater success in retail. By focusing on recruiting and retaining high quality professionals, and driving organizational flexibility and productivity, I am confident this leadership team will continue to deliver distinctive value and impact to clients every day." Peter's and Steve's appointments are subject to approval by the UK Financial Services Authority. For more information, contact: Reuben Aitchison Aon Press Office 020 7086 7201 07944 189 804 About Aon Aon Corporation (NYSE:AOC) ( http://www.aon.com/ ) is a leading provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. Aon has 45,000 employees in 500 offices in more than 120 countries. Backed by broad resources, industry knowledge and technical expertise, Aon professionals help a wide range of clients develop effective risk management and workforce productivity solutions. This press release contains certain statements related to future results, or states our intentions, beliefs and expectations or predictions for the future which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from either historical or anticipated results depending on a variety of factors. Potential factors that could impact results include: general economic conditions in different countries in which we do business around the world, changes in global equity and fixed income markets that could affect the return on invested assets, fluctuations in exchange and interest rates that could influence revenue and expense, rating agency actions that could affect our ability to borrow funds, funding of our various pension plans, changes in the competitive environment, our ability to implement restructuring initiatives and other initiatives intended to yield cost savings, our ability to implement the stock repurchase program, changes in commercial property and casualty markets and commercial premium rates that could impact revenues, changes in revenues and earnings due to the elimination of contingent commissions, other uncertainties surrounding a new compensation model, the impact of investigations brought by state attorneys general, state insurance regulators, federal prosecutors, and federal regulators, the impact of class actions and individual lawsuits including client class actions, securities class actions, derivative actions, and ERISA class actions, the cost of resolution of other contingent liabilities and loss contingencies, and the difference in ultimate paid claims in our underwriting companies from actuarial estimates. Further information concerning the Company and its business, including factors that potentially could materially affect the Company's financial results, is contained in the Company's filings with the Securities and Exchange Commission. http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO http://photoarchive.ap.org/ DATASOURCE: Aon Corporation CONTACT: Reuben Aitchison, Aon Press Office, 020 7086 7201, or 07944 189 804 Web site: http://www.aon.com/

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