Aon Combines UK Operations Under Aon Limited; Business Transformation Plan Underway.Business Editors LONDON & CHICAGO--(BUSINESS WIRE)--Dec. 12, 2000 Aon will be integrating its insurance broking Bro´king a. 1. Of or pertaining to a broker or brokers, or to brokerage. Redeem from broking pawn the blemished crown. - Shak. and consulting activities in the UK as of 1 January 2001, trading under a new entity, Aon Limited. The executive board will be led by Dennis Mahoney as chairman and chief executive officer. The consolidation is part of a process that recently saw Aon outsource its Information Technology infrastructure in the United Kingdom with the aim of improving the efficiency of its business units. The consolidation also emphasizes Aon's commitment to achieve faster growth and productivity, as previously outlined in the comprehensive business transformation plan announcement at the beginning of November. Dennis Mahoney commented: "The formation of Aon Limited marks a significant point in Aon's evolution in the UK. We will be able to provide enhanced service Enhanced service is service offered over commercial carrier transmission facilities used in interstate communications, that employs computer processing applications that act on the format, content, code, protocol, or similar aspects of the subscriber's transmitted information; to clients by realigning our separate business units within one new company." "Our UK operations have been very successful, delivering strong financial results, but we recognise that the needs of our clients are always changing. This is why we are establishing a UK-wide client relationship management function with responsibility for client strategy, management and business development. In an increasingly competitive market, we are now in a better position to achieve our goals faster and more productively." Aon Group Limited, Aon Risk Services UK Limited, Aon Consulting Limited (excluding Personal Investment Authority regulated business which will continue to trade under Aon Consulting Limited) and all associated companies associated company associate n → Partnerfirma f associated company n → società collegata will be integrated within Aon Limited. The new company will derive considerable benefits from this integration and provide an improved service to meet the changing needs and expectations of clients. Aon Corporation (www.aon.com) is a holding company that comprises a family of insurance brokerage, consulting and insurance underwriting subsidiaries. Aon's common stock is listed on the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Chicago, Frankfurt and London stock exchanges London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. . This press release may contain certain statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc future results, which are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as that term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, depending on a variety of factors such as general economic conditions in different countries around the world, fluctuations in global equity and fixed income markets, changes in commercial property and casualty premium rates, the competitive environment, the actual cost of resolution of contingent liabilities Contingent Liability 1. The possibility of an obligation to pay certain sums dependent on future events. 2. Defined obligations by a company that must be met, but the probability of payment is minimal. Notes: 1. , the final form of the business transformation plan, the ultimate cost and timing of the implementation thereof and the actual cost savings and other benefits resulting therefrom there·from adv. From that place, time, or thing. Adv. 1. therefrom - from that circumstance or source; "atomic formulas and all compounds thence constructible"- W.V. . Further information concerning the company and its business, including factors that potentially could materially affect the company's financial results are contained in the company's filings with the Securities and Exchange Commission.
Notes to Editors
1. The members of the Aon Limited board are:
Dennis Mahoney Chairman & Chief Executive Officer
Francis Marjoribanks Chief Financial Officer
Ron Amy
Robert Harrison
Johnny Johnston
Ross McKenzie
Jonathan Palmer-Brown
Roger Powell
Brian Stewart-Brown
Anne Boden Chief Information Officer
Stuart Fox Human Resources
Jane Owen Legal
John Hill Company Secretary
|
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion