Aon Celebrates 20 Years
25 Aprile 2007 - 12:55AM
PR Newswire (US)
CHICAGO, April 24 /PRNewswire-FirstCall/ -- Aon is 20 years old
today. While the company celebrates two decades under the Aon
banner, Aon (NYSE:AOC) and its predecessor companies can actually
trace their origins back to the 1680s, when the world's first
commercial insurance brokerage company was established in the
Netherlands. The company, Hudig-Langeveldt, was the largest broker
in continental Europe when Aon acquired it in 1991. (Logo:
http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO ) Pat Ryan,
Aon founder and executive chairman, said Aon's own evolution during
the past 20 years has been a highlight. "It has been thrilling to
see the original strategy -- that of being an advisor to the client
with experts who know all about an industry -- carried forward
globally." Aon President and Chief Executive Officer Greg Case, who
earlier this month celebrated his two-year anniversary as CEO, says
the increasing complexity and cost of risk for multinational
corporations have ushered in a new era for the world's risk
managers. "Risk is a building block for opportunity like almost
nothing else," Case said. "We encourage clients to focus on the
'upside' of risk as a means of developing a balanced, effective
approach to managing it. Organizations that have prospered from
risk have been able to understand it in a way that their
competitors could not. That comes from insight, from hard work,
from advice, and from perspective." Peter Harmer, named chief
executive officer of Aon Limited and country manager of Aon UK,
earlier this year, says adaptability will be one of the keys to
future success. "Our clients are facing bigger and more complex
risk issues. The insurance sector has to change the way it views
and deals with clients, from being a product-centric to
client-centric. It is a major cultural shift and requires us to
really understand our clients' business and the risks they face.
Rather than simply acting as product resellers, we need to create
innovative needs-driven solutions that will enhance our
relationship with them." Jorge Gonzalez Gale, chief executive
officer of Aon Risk Services Latin America, agrees. "Latin American
countries are facing the enormous challenge of rapidly changing
risk exposures, as our economies undergo deep and rapid
deregulation," he says. "This process has generated enormous new
business opportunities for multinational clients, but the changes
it triggered has also fueled social and economic turmoil in
countries like Argentina, Mexico, Venezuela, Brazil, Colombia,
Ecuador and Peru. We can best help all our clients by quickly
identifying and following-up the rapid mutation of the ensuing risk
exposures." "The array of risks facing organizations continue to
increase as a result of external as well as internal factors,"
according to Bernard Fung, Aon Asia chief executive officer.
"Externally, incremental risk arising from regulatory initiatives,
shareholders expectations, rating agency requirements and
competitor's advantage created by sophistication in risk management
are forcing organizations to adopt a much more vigorous and
holistic approach to risk management. Internally, the pressures
imposed by Boards of Directors on governance, the desire to apply
risk assessment to corporate decision process such as capital
allocation and leveraging risk taking to enhance competitiveness
are also putting new demands on risk management. Helping companies
in Asia Pacific to cope with increasing risk complexities
represents a huge opportunity for Aon." "I have had the privilege
of working with Aon almost since the company's inception, and I am
proud of the work that we have done to help thousands of clients
around the world to succeed," said Michael D. O'Halleran, the
chairman, chief executive officer and first employee of Aon Re
Global. "More than 400 acquisitions later, after bringing together
thousands of people in different countries and of different
cultures, our work has been exciting, challenging, rewarding and
impactful. Our continued focus on providing innovative, customized
solutions that meet the needs of our clients, we believe, will lead
us successfully through our next 20 years and beyond." April 24,
2007 will be a day of celebration for Aon offices around the world.
Hundreds of special events and community outreach programs are
being held at Aon offices around the globe to commemorate Aon's 20
years of global service. Aon employees in the U.S. will hold blood
drives, and volunteer at food banks in Chicago, work in
neighborhood improvement projects in New York and Detroit, and
volunteer at and financially support outreach programs in St.
Louis, Tampa, the Delaware Valley and Winston-Salem. In Canada, Aon
Reed Stenhouse will build five playgrounds in five cities across
the country in Halifax, Sherbrooke, Thunder Bay, Grande Prairie and
Victoria. Aon Mexico is planning a maintenance project with
Fundacion Parlas, a special home that provides care for more than
40 children, most with Down Syndrome. Aon Korea is expanding its
contribution to the Social Solidarity Bank, a leading micro credit
institution that supports those willing, but financially unable, to
start their own businesses. Aon Denmark is raising funds for
children living in orphanages. Aon Russia is contributing to the
Nashi Deti (Our Children) charity fund, which benefits children in
orphanages. Aon U.K. is launching a range of community activities
at eight locations across the United Kingdom, including the
announcement of a new charity initiative designed to increase the
Aon's charitable donations fund. About Aon Aon Corporation
(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. There
are 43,000 employees working in Aon's 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. For more information Al Orendorff 312-381-3153
http://www.aon.com/newsroom 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 execute the stock repurchase program,
our ability to obtain regulatory or legislative changes to permit
continuous sales of our supplemental Medicare health product,
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, ERISA class
actions, the impact of the analysis of practices relating to stock
options, 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: Al
Orendorff, Corporate Communications, Director, US Public Relations,
of Aon Corporation, +1-312-381-3153, Fax, +1-312-381-0144, Web
site: http://www.aon.com/
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