Aon Names Gregory Springer Chief Underwriting Officer of Combined Specialty Group.

Business Editors

CHICAGO--(BUSINESS WIRE)--March 18, 2002

Aon Corporation (NYSE: AOC) today named Gregory Springer, Chief Underwriting Officer, Combined Specialty Group.

"I am very pleased to announce that Gregory Springer will be joining Combined Specialty Group as Chief Underwriting officer. Gregg will have group responsibility for reinsurance, reinsurance security, risk management, underwriting compliance, product development, business continuity planning, privacy issues and other corporate wide underwriting policies and positions. He will also develop our strategy and plans for potential opportunities in the alternative risk and large account P&C business."

Mr. Springer will report to Mr. Reding, and he will be based in Chicago.

Mr. Springer began his insurance career in 1977 with Industrial Indemnity Corporation progressing to the position of Senior Vice-President. In 1987 he joined Andersen & Andersen as a Senior Officer, and in 1993 he joined AIG as Senior Vice-President - Chief Underwriting Officer for AIG Risk Management. In 1995, he joined TIG as President of the P&C Division, and the following year joined Aon Bermuda as President/CEO, with responsibility for insurance, reinsurance and captive management, returning to the states in 1997 to become Managing Director - Risk Management for Aon Risk Services in Chicago. In 2000, he moved back to the company ranks with a major carrier as Executive Vice-President - Casualty Executive, with responsibility for corporate underwriting, reinsurance, new product development and casualty underwriting practices, reporting to the CEO.

Mr. Springer is a graduate of Oklahoma Christian University with a BS in management and accounting.

In 2001, Aon announced plans to spin off its underwriting operations to stockholders through a new company to be named Combined Specialty Group. The spin-off is scheduled for spring, 2002.

Aon Corporation (http://www.aon.com) is a holding company that is comprised of a family of insurance brokerage, consulting and insurance underwriting subsidiaries.

This press release may contain certain statements relating to future results, 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 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, the final form of the business transformation plan, the ultimate cost and timing of the implementation thereof, the actual cost savings and other benefits resulting therefrom, whether the Company ultimately implements the proposed spin-off of its underwriting operations, and the timing and terms associated therewith, and events surrounding terrorists attacks of September 11, 2001, including the timing and resolution of related insurance and reinsurance issues. 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.