-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PCjSn+8Pt1yxbc+myuiiaIzcN1rMxVHc8D4xJwPxkYbvdCgAQiTOGe03Cl9mS9y8 puQ2LArd0Hf1aG2uL0DEWw== 0001104659-05-054927.txt : 20051114 0001104659-05-054927.hdr.sgml : 20051111 20051114070325 ACCESSION NUMBER: 0001104659-05-054927 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20051111 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20051114 DATE AS OF CHANGE: 20051114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AON CORP CENTRAL INDEX KEY: 0000315293 STANDARD INDUSTRIAL CLASSIFICATION: ACCIDENT & HEALTH INSURANCE [6321] IRS NUMBER: 363051915 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07933 FILM NUMBER: 051196116 BUSINESS ADDRESS: STREET 1: 200 EAST RANDOLPH STREET CITY: CHICAGO STATE: IL ZIP: 60601 BUSINESS PHONE: 3123811000 MAIL ADDRESS: STREET 1: 200 EAST RANDOLPH STREET CITY: CHICAGO STATE: IL ZIP: 60601 FORMER COMPANY: FORMER CONFORMED NAME: COMBINED INTERNATIONAL CORP DATE OF NAME CHANGE: 19870504 8-K 1 a05-19344_18k.htm CURRENT REPORT OF MATERIAL EVENTS OR CORPORATE CHANGES

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

 

Date of report (Date of earliest event reported): November 11, 2005

 

 

Aon Corporation

(Exact Name of Registrant as Specified in Charter)

 

Delaware

 

1-7933

 

36-3051915

(State or Other Jurisdiction
of Incorporation)

 

(Commission File Number)

 

(IRS Employer
Identification No.)

 

 

 

 

 

200 East Randolph Street, Chicago, Illinois

 

60601

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: (312) 381-1000

 

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 


 

Item 7.01.  Regulation FD Disclosure.

 

This supplemental information is being furnished to assist investors in analyzing the historical 2005, 2004, 2003, 2002 and 2001 financial information of Aon Corporation (the “Company”) compared to the third quarter and nine months 2005 presentation, which added the Company’s U.S.-based wholesale broking operations to discontinued operations.

 

On November 4, 2005, a Current Report on Form 8-K (the “November 4 Form 8-K”) was filed in conjunction with the release of third quarter and nine months 2005 financial results that included a quarterly and full year consolidated summary of operations for the year ended December 31, 2004, the quarter ended March 31, 2005, and the quarter and six months ended June 30, 2005, reclassified for discontinued operations.  This Form 8-K filing supplements the November 4 Form 8-K by adding reclassified information for each quarter as well as full years ended December 31, 2003, 2002 and 2001, and is attached as Exhibit 99.1.

 

The November 4 Form 8-K also included segment information reclassified for discontinued operations for each quarter and full year ended December 31, 2004, the quarter ended March 31, 2005, and the quarter and six months ended June 30, 2005. This Form 8-K filing supplements the November 4 Form 8-K by adding reclassified information for each quarter as well as full years ended December 31, 2003, 2002 and 2001, and is attached as Exhibit 99.2.

 

Item 9.01. Financial Statements and Exhibits.

 

(a)—(b)

 Not applicable.

 

 

(c)

Exhibits:

 

Exhibit
Number

 

Description of Exhibit

 

 

 

99.1

 

Consolidated Summary of Operations – Reclassified for Discontinued Operations for (i) the quarter ended March 31, 2005, (ii) the quarter and six months ended June 30, 2005, (iii) the quarters ended March 31, June 30, September 30 and December 31, 2004, 2003, 2002 and 2001 and (iv) the years ended December 31, 2004, 2003, 2002 and 2001.

 

 

 

99.2

 

Segments-Reclassified for Discontinued Operations for (i) the quarter ended March 31, 2005, (ii) the quarter and six months ended June 30, 2005, (iii) the quarters ended March 31, June 30, September 30 and December 31, 2004, 2003, 2002 and 2001 and (iv) the years ended December 31, 2004, 2003, 2002 and 2001.

 

2


 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

Aon CORPORATION

 

 

 

 

 

 

By:

/s/ David P. Bolger

 

 

David P. Bolger
Executive Vice President, Chief Financial Officer and
Chief Administrative Officer

 

Date: November 11, 2005

 

3


 

EXHIBIT INDEX

 

Exhibit
Number

 

Description of Exhibit

 

 

 

99.1

 

Consolidated Summary of Operations – Reclassified for Discontinued Operations for (i) the quarter ended March 31, 2005, (ii) the quarter and six months ended June 30, 2005, (iii) the quarters ended March 31, June 30, September 30 and December 31, 2004, 2003, 2002 and 2001 and (iv) the years ended December 31, 2004, 2003, 2002 and 2001.

 

 

 

99.2

 

Segments-Reclassified for Discontinued Operations for (i) the quarter ended March 31, 2005, (ii) the quarter and six months ended June 30, 2005, (iii) the quarters ended March 31, June 30, September 30 and December 31, 2004, 2003, 2002 and 2001 and (iv) the years ended December 31, 2004, 2003, 2002 and 2001.

 

4

 EX-99.1 2 a05-19344_1ex99d1.htm EXHIBIT 99

Exhibit 99.1

 

Aon Corporation

Consolidated Summary of Operations - Reclassified for Discontinued Operations

 

 

 

2005

 

(millions except per share data)

 

1st
Quarter

 

2nd
Quarter

 

Six
Months

 

Revenue

 

 

 

 

 

 

 

Brokerage commissions and fees

 

$

1,676

 

$

1,666

 

$

3,342

 

Premiums and other

 

698

 

718

 

1,416

 

Investment income

 

92

 

74

 

166

 

Total revenue

 

2,466

 

2,458

 

4,924

 

 

 

 

 

 

 

 

 

Expenses

 

 

 

 

 

 

 

General expenses

 

1,661

 

1,713

 

3,374

 

Benefits to policyholders

 

393

 

381

 

774

 

Depreciation & Amortization

 

67

 

62

 

129

 

Interest expense

 

34

 

31

 

65

 

Provision for New York and other state settlements

 

1

 

2

 

3

 

Total expenses

 

2,156

 

2,189

 

4,345

 

 

 

 

 

 

 

 

 

Income from continuing operations before provision for income tax

 

310

 

269

 

579

 

Provision for income tax

 

112

 

90

 

202

 

Income from continuing operations

 

198

 

179

 

377

 

 

 

 

 

 

 

 

 

Discontinued operations

 

 

 

 

 

 

 

Income from discontinued operations

 

3

 

20

 

23

 

Income tax provision

 

1

 

8

 

9

 

Income from discontinued operations, net of tax

 

2

 

12

 

14

 

 

 

 

 

 

 

 

 

Net income

 

$

200

 

$

191

 

$

391

 

Preferred stock dividends

 

(1

)

—

 

(1

)

Net income available for common stockholders

 

$

199

 

$

191

 

$

390

 

 

 

 

 

 

 

 

 

Basic net income per share:

 

 

 

 

 

 

 

Income from continuing operations

 

$

0.61

 

$

0.55

 

$

1.17

 

Discontinued operations

 

0.01

 

0.04

 

0.04

 

Net income

 

$

0.62

 

$

0.59

 

$

1.21

 

 

 

 

 

 

 

 

 

Dilutive net income per share:

 

 

 

 

 

 

 

Income from continuing operations

 

$

0.58

 

$

0.53

 

$

1.12

 

Discontinued operations

 

0.01

 

0.04

 

0.04

 

Net income

 

$

0.59

 

$

0.57

 

$

1.16

 

 

 

 

 

 

 

 

 

Dilutive average common and common equivalent shares outstanding

 

337.1

 

338.5

 

337.8

 

 


 

 

 

2004

 

(millions except per share data)

 

1st
Quarter

 

2nd
Quarter

 

3rd
Quarter

 

4th
Quarter

 

Full Year

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

Brokerage commissions and fees

 

$

1,741

 

$

1,693

 

$

1,603

 

$

1,797

 

$

6,834

 

Premiums and other

 

692

 

716

 

693

 

687

 

2,788

 

Investment income

 

80

 

69

 

51

 

122

 

322

 

Total revenue

 

2,513

 

2,478

 

2,347

 

2,606

 

9,944

 

 

 

 

 

 

 

 

 

 

 

 

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

General expenses

 

1,727

 

1,709

 

1,684

 

1,858

 

6,978

 

Benefits to policyholders

 

383

 

392

 

379

 

362

 

1,516

 

Depreciation & Amortization

 

69

 

82

 

77

 

75

 

303

 

Interest expense

 

34

 

35

 

32

 

35

 

136

 

Provision for New York and other state settlements

 

—

 

—

 

—

 

180

 

180

 

Total expenses

 

2,213

 

2,218

 

2,172

 

2,510

 

9,113

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before provision for income tax

 

300

 

260

 

175

 

96

 

831

 

Provision for income tax

 

108

 

93

 

62

 

20

 

283

 

Income from continuing operations

 

192

 

167

 

113

 

76

 

548

 

 

 

 

 

 

 

 

 

 

 

 

 

Discontinued operations

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from discontinued operations

 

(28

)

12

 

12

 

10

 

6

 

Income tax provision (benefit)

 

(6

)

6

 

3

 

5

 

8

 

Income (loss) from discontinued operations, net of tax

 

(22

)

6

 

9

 

5

 

(2

)

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

170

 

$

173

 

$

122

 

$

81

 

546

 

Preferred stock dividends

 

(1

)

—

 

(1

)

(1

)

(3

)

Net income available for common stockholders

 

$

169

 

$

173

 

$

121

 

$

80

 

543

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income per share:

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

0.60

 

$

0.52

 

$

0.35

 

$

0.23

 

$

1.71

 

Discontinued operations

 

(0.07

)

0.02

 

0.03

 

0.02

 

(0.01

)

Net income

 

$

0.53

 

$

0.54

 

$

0.38

 

$

0.25

 

$

1.70

 

 

 

 

 

 

 

 

 

 

 

 

 

Dilutive net income per share:

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

0.58

 

$

0.50

 

$

0.33

 

$

0.23

 

$

1.64

 

Discontinued operations

 

(0.07

)

0.02

 

0.03

 

0.01

 

(0.01

)

Net income

 

$

0.51

 

$

0.52

 

$

0.36

 

$

0.24

 

$

1.63

 

 

 

 

 

 

 

 

 

 

 

 

 

Dilutive average common and common equivalent shares outstanding

 

335.3

 

337.1

 

337.4

 

336.4

 

336.6

 

 


 

 

 

2003

 

(millions except per share data)

 

1st
Quarter

 

2nd
Quarter

 

3rd
Quarter

 

4th
Quarter

 

Full Year

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

Brokerage commissions and fees

 

$

1,602

 

$

1,620

 

$

1,577

 

$

1,757

 

$

6,556

 

Premiums and other

 

632

 

635

 

673

 

669

 

2,609

 

Investment income

 

79

 

89

 

56

 

87

 

311

 

Total revenue

 

2,313

 

2,344

 

2,306

 

2,513

 

9,476

 

 

 

 

 

 

 

 

 

 

 

 

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

General expenses

 

1,565

 

1,661

 

1,618

 

1,733

 

6,577

 

Benefits to policyholders

 

345

 

325

 

367

 

390

 

1,427

 

Depreciation & Amortization

 

66

 

77

 

80

 

84

 

307

 

Interest expense

 

28

 

27

 

24

 

22

 

101

 

Unusual charges (credits) - World Trade Center

 

37

 

9

 

—

 

(60

)

(14

)

Total expenses

 

2,041

 

2,099

 

2,089

 

2,169

 

8,398

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before provision for income tax and minority interest

 

272

 

245

 

217

 

344

 

1,078

 

Provision for income tax

 

101

 

90

 

80

 

127

 

398

 

Income from continuing operations before minority interest

 

171

 

155

 

137

 

217

 

680

 

Minority interest - 8.205% trust preferred capital securities

 

(9

)

(9

)

(9

)

(9

)

(36

)

Income from continuing operations

 

162

 

146

 

128

 

208

 

644

 

 

 

 

 

 

 

 

 

 

 

 

 

Discontinued operations

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from discontinued operations

 

(16

)

—

 

(19

)

12

 

(23

)

Income tax provision (benefit)

 

(6

)

—

 

(6

)

5

 

(7

)

Income (loss) from discontinued operations, net of tax

 

(10

)

—

 

(13

)

7

 

(16

)

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

152

 

$

146

 

$

115

 

$

215

 

$

628

 

Preferred stock dividends

 

(1

)

—

 

(1

)

(1

)

(3

)

Net income available for common stockholders

 

$

151

 

$

146

 

$

114

 

$

214

 

$

625

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income per share:

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

0.51

 

$

0.46

 

$

0.40

 

$

0.65

 

$

2.02

 

Discontinued operations

 

(0.03

)

—

 

(0.04

)

0.02

 

(0.05

)

Net income

 

$

0.48

 

$

0.46

 

$

0.36

 

$

0.67

 

$

1.97

 

 

 

 

 

 

 

 

 

 

 

 

 

Dilutive net income per share:

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

0.49

 

$

0.45

 

$

0.39

 

$

0.63

 

$

1.95

 

Discontinued operations

 

(0.03

)

—

 

(0.04

)

0.02

 

(0.05

)

Net income

 

$

0.46

 

$

0.45

 

$

0.35

 

$

0.65

 

$

1.90

 

 

 

 

 

 

 

 

 

 

 

 

 

Dilutive average common and common equivalent shares outstanding

 

329.2

 

332.2

 

332.6

 

333.3

 

331.8

 

 


 

 

 

2002

 

(millions except per share data)

 

1st
Quarter

 

2nd
Quarter

 

3rd
Quarter

 

4th
Quarter

 

Full Year

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

Brokerage commissions and fees

 

$

1,373

 

$

1,421

 

$

1,466

 

$

1,602

 

$

5,862

 

Premiums and other

 

535

 

638

 

607

 

588

 

2,368

 

Investment income (loss)

 

108

 

(27

)

86

 

83

 

250

 

Total revenue

 

2,016

 

2,032

 

2,159

 

2,273

 

8,480

 

 

 

 

 

 

 

 

 

 

 

 

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

General expenses

 

1,343

 

1,541

 

1,527

 

1,555

 

5,966

 

Benefits to policyholders

 

314

 

391

 

350

 

320

 

1,375

 

Depreciation & Amortization

 

57

 

66

 

59

 

72

 

254

 

Interest expense

 

29

 

30

 

32

 

33

 

124

 

Unusual credits - World Trade Center

 

—

 

—

 

(18

)

(11

)

(29

)

Total expenses

 

1,743

 

2,028

 

1,950

 

1,969

 

7,690

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before provision for income tax and minority interest

 

273

 

4

 

209

 

304

 

790

 

Provision for income tax

 

101

 

1

 

76

 

112

 

290

 

Income from continuing operations before minority interest

 

172

 

3

 

133

 

192

 

500

 

Minority interest - 8.205% trust preferred capital securities

 

(10

)

(10

)

(10

)

(4

)

(34

)

Income from continuing operations

 

162

 

(7

)

123

 

188

 

466

 

 

 

 

 

 

 

 

 

 

 

 

 

Discontinued operations

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from discontinued operations

 

(2

)

12

 

8

 

(15

)

3

 

Income tax provision (benefit)

 

—

 

5

 

3

 

(5

)

3

 

Income (loss) from discontinued operations, net of tax

 

(2

)

7

 

5

 

(10

)

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

160

 

$

—

 

$

128

 

$

178

 

$

466

 

Preferred stock dividends

 

(1

)

—

 

(1

)

(1

)

(3

)

Net income available for common stockholders

 

$

159

 

$

—

 

$

127

 

$

177

 

$

463

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income per share:

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

0.59

 

$

(0.03

)

$

0.44

 

$

0.62

 

$

1.65

 

Discontinued operations

 

(0.01

)

0.03

 

0.02

 

(0.03

)

—

 

Net income

 

$

0.58

 

$

—

 

$

0.46

 

$

0.59

 

$

1.65

 

 

 

 

 

 

 

 

 

 

 

 

 

Dilutive net income per share:

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

0.58

 

$

(0.03

)

$

0.44

 

$

0.62

 

$

1.64

 

Discontinued operations

 

(0.01

)

0.03

 

0.02

 

(0.03

)

—

 

Net income

 

$

0.57

 

$

—

 

$

0.46

 

$

0.59

 

$

1.64

 

 

 

 

 

 

 

 

 

 

 

 

 

Dilutive average common and common equivalent shares outstanding

 

276.6

 

278.0

 

277.1

 

299.0

 

282.6

 

 


 

 

 

2001

 

(millions except per share data)

 

1st
Quarter

 

2nd
Quarter

 

3rd
Quarter

 

4th
Quarter

 

Full Year

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

Brokerage commissions and fees

 

$

1,235

 

$

1,287

 

$

1,237

 

$

1,442

 

$

5,201

 

Premiums and other

 

508

 

492

 

510

 

517

 

2,027

 

Investment income

 

20

 

77

 

104

 

6

 

207

 

Total revenue

 

1,763

 

1,856

 

1,851

 

1,965

 

7,435

 

 

 

 

 

 

 

 

 

 

 

 

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

General expenses

 

1,272

 

1,427

 

1,289

 

1,408

 

5,396

 

Benefits to policyholders

 

292

 

260

 

271

 

288

 

1,111

 

Depreciation & Amortization

 

83

 

83

 

83

 

86

 

335

 

Interest expense

 

36

 

31

 

31

 

29

 

127

 

Unusual charges - World Trade Center

 

—

 

—

 

53

 

105

 

158

 

Total expenses

 

1,683

 

1,801

 

1,727

 

1,916

 

7,127

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before provision for income tax and minority interest

 

80

 

55

 

124

 

49

 

308

 

Provision for income tax

 

32

 

21

 

47

 

21

 

121

 

Income from continuing operations before minority interest

 

48

 

34

 

77

 

28

 

187

 

Minority interest - 8.205% trust preferred capital securities

 

(10

)

(10

)

(10

)

(10

)

(40

)

Income from continuing operations

 

38

 

24

 

67

 

18

 

147

 

 

 

 

 

 

 

 

 

 

 

 

 

Discontinued operations

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from discontinued operations

 

(32

)

9

 

9

 

15

 

1

 

Income tax provision (benefit)

 

(13

)

4

 

4

 

6

 

1

 

Income (loss) from discontinued operations, net of tax

 

(19

)

5

 

5

 

9

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

19

 

$

29

 

$

72

 

$

27

 

$

147

 

Preferred stock dividends

 

(1

)

—

 

(1

)

(1

)

(3

)

Net income available for common stockholders

 

$

18

 

$

29

 

$

71

 

$

26

 

$

144

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income per share:

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

0.14

 

$

0.09

 

$

0.24

 

$

0.07

 

$

0.54

 

Discontinued operations

 

(0.07

)

0.02

 

0.02

 

0.03

 

—

 

Net income

 

$

0.07

 

$

0.11

 

$

0.26

 

$

0.10

 

$

0.54

 

 

 

 

 

 

 

 

 

 

 

 

 

Dilutive net income per share:

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

0.14

 

$

0.09

 

$

0.24

 

$

0.07

 

$

0.53

 

Discontinued operations

 

(0.07

)

0.02

 

0.02

 

0.03

 

—

 

Net income

 

$

0.07

 

$

0.11

 

$

0.26

 

$

0.10

 

$

0.53

 

 

 

 

 

 

 

 

 

 

 

 

 

Dilutive average common and common equivalent shares outstanding

 

267.9

 

270.2

 

275.4

 

276.9

 

272.4

 

 

 

 EX-99.2 3 a05-19344_1ex99d2.htm EXHIBIT 99

Exhibit 99.2

 

Aon Corporation

Segments - Reclassified for Discontinued Operations

 

 

 

2005

 

(millions)

 

1st
Quarter

 

2nd
Quarter

 

Six
Months

 

Revenue

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services:

 

 

 

 

 

 

 

Risk Management & Insurance Brokerage - Americas

 

$

454

 

$

541

 

$

995

 

Risk Management & Insurance Brokerage - International

 

660

 

592

 

1,252

 

Reinsurance Brokerage & Related Services

 

240

 

203

 

443

 

Claims Services

 

—

 

—

 

—

 

Total Risk & Insurance Brokerage Services

 

1,354

 

1,336

 

2,690

 

 

 

 

 

 

 

 

 

Consulting:

 

 

 

 

 

 

 

Consulting Services

 

240

 

244

 

484

 

Outsourcing

 

69

 

71

 

140

 

Total Consulting

 

309

 

315

 

624

 

 

 

 

 

 

 

 

 

Insurance Underwriting:

 

 

 

 

 

 

 

Accident & Health and Life

 

440

 

450

 

890

 

Warranty, Credit and Property & Casualty

 

349

 

366

 

715

 

Total Insurance Underwriting

 

789

 

816

 

1,605

 

 

 

 

 

 

 

 

 

Corporate & Other

 

29

 

6

 

35

 

Intersegment Revenues

 

(15

)

(15

)

(30

)

Total

 

$

2,466

 

$

2,458

 

$

4,924

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations before provision for income tax

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services

 

$

240

 

$

208

 

$

448

 

Consulting

 

26

 

29

 

55

 

Insurance Underwriting

 

68

 

83

 

151

 

Corporate & Other

 

(24

)

(51

)

(75

)

Total

 

$

310

 

$

269

 

$

579

 

 

 

 

 

 

 

 

 

Income from continuing operations before provision for income tax - margins

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services

 

17.7

%

15.6

%

16.7

%

Consulting

 

8.4

%

9.2

%

8.8

%

Insurance Underwriting

 

8.6

%

10.2

%

9.4

%

Total

 

12.6

%

10.9

%

11.8

%

 


 

 

 

2004

 

(millions)

 

1st
Quarter

 

2nd
Quarter

 

3rd
Quarter

 

4th
Quarter

 

Full Year

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services:

 

 

 

 

 

 

 

 

 

 

 

Risk Management & Insurance Brokerage - Americas

 

$

480

 

$

531

 

$

503

 

$

566

 

$

2,080

 

Risk Management & Insurance Brokerage - International

 

633

 

574

 

512

 

638

 

2,357

 

Reinsurance Brokerage & Related Services

 

239

 

204

 

219

 

199

 

861

 

Claims Services

 

61

 

57

 

55

 

39

 

212

 

Total Risk & Insurance Brokerage Services

 

1,413

 

1,366

 

1,289

 

1,442

 

5,510

 

 

 

 

 

 

 

 

 

 

 

 

 

Consulting:

 

 

 

 

 

 

 

 

 

 

 

Consulting Services

 

225

 

230

 

229

 

265

 

949

 

Outsourcing

 

76

 

75

 

71

 

76

 

298

 

Total Consulting

 

301

 

305

 

300

 

341

 

1,247

 

 

 

 

 

 

 

 

 

 

 

 

 

Insurance Underwriting:

 

 

 

 

 

 

 

 

 

 

 

Accident & Health and Life

 

425

 

441

 

423

 

432

 

1,721

 

Warranty, Credit and Property & Casualty

 

356

 

364

 

356

 

353

 

1,429

 

Total Insurance Underwriting

 

781

 

805

 

779

 

785

 

3,150

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate & Other

 

36

 

18

 

(6

)

61

 

109

 

Intersegment Revenues

 

(18

)

(16

)

(15

)

(23

)

(72

)

Total

 

$

2,513

 

$

2,478

 

$

2,347

 

$

2,606

 

$

9,944

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations before provision for income tax

 

 

 

 

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services

 

$

243

 

$

191

 

$

131

 

$

15

 

$

580

 

Consulting

 

26

 

28

 

29

 

22

 

105

 

Insurance Underwriting

 

53

 

73

 

67

 

61

 

254

 

Corporate & Other

 

(22

)

(32

)

(52

)

(2

)

(108

)

Total

 

$

300

 

$

260

 

$

175

 

$

96

 

$

831

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before provision for income tax - margins

 

 

 

 

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services

 

17.2

%

14.0

%

10.2

%

1.0

%

10.5

%

Consulting

 

8.6

%

9.2

%

9.7

%

6.5

%

8.4

%

Insurance Underwriting

 

6.8

%

9.1

%

8.6

%

7.8

%

8.1

%

Total

 

11.9

%

10.5

%

7.5

%

3.7

%

8.4

%

 


 

 

 

2003

 

(millions)

 

1st
Quarter

 

2nd
Quarter

 

3rd
Quarter

 

4th
Quarter

 

Full Year

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services:

 

 

 

 

 

 

 

 

 

 

 

Risk Management & Insurance Brokerage - Americas

 

$

456

 

$

522

 

$

499

 

$

575

 

$

2,052

 

Risk Management & Insurance Brokerage - International

 

524

 

507

 

478

 

565

 

2,074

 

Reinsurance Brokerage & Related Services

 

237

 

219

 

225

 

192

 

873

 

Claims Services

 

88

 

88

 

85

 

91

 

352

 

Total Risk & Insurance Brokerage Services

 

1,305

 

1,336

 

1,287

 

1,423

 

5,351

 

 

 

 

 

 

 

 

 

 

 

 

 

Consulting:

 

 

 

 

 

 

 

 

 

 

 

Consulting Services

 

209

 

224

 

214

 

251

 

898

 

Outsourcing

 

71

 

68

 

70

 

78

 

287

 

Total Consulting

 

280

 

292

 

284

 

329

 

1,185

 

 

 

 

 

 

 

 

 

 

 

 

 

Insurance Underwriting:

 

 

 

 

 

 

 

 

 

 

 

Accident & Health and Life

 

399

 

377

 

416

 

402

 

1,594

 

Warranty, Credit and Property & Casualty

 

310

 

315

 

326

 

338

 

1,289

 

Total Insurance Underwriting

 

709

 

692

 

742

 

740

 

2,883

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate & Other

 

31

 

40

 

14

 

40

 

125

 

Intersegment Revenues

 

(12

)

(16

)

(21

)

(19

)

(68

)

Total

 

$

2,313

 

$

2,344

 

$

2,306

 

$

2,513

 

$

9,476

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations before provision for income tax and minority interest

 

 

 

 

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services

 

$

238

 

$

165

 

$

167

 

$

225

 

$

795

 

Consulting

 

21

 

22

 

20

 

47

 

110

 

Insurance Underwriting

 

63

 

64

 

58

 

11

 

196

 

Corporate & Other

 

(50

)

(6

)

(28

)

61

 

(23

)

Total

 

$

272

 

$

245

 

$

217

 

$

344

 

$

1,078

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before provision for income tax - margins

 

 

 

 

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services

 

18.2

%

12.4

%

13.0

%

15.8

%

14.9

%

Consulting

 

7.5

%

7.5

%

7.0

%

14.3

%

9.3

%

Insurance Underwriting

 

8.9

%

9.2

%

7.8

%

1.5

%

6.8

%

Total

 

11.8

%

10.5

%

9.4

%

13.7

%

11.4

%

 


 

 

 

2002

 

(millions)

 

1st
Quarter

 

2nd
Quarter

 

3rd
Quarter

 

4th
Quarter

 

Full Year

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services:

 

 

 

 

 

 

 

 

 

 

 

Risk Management & Insurance Brokerage - Americas

 

$

400

 

$

452

 

$

472

 

$

541

 

$

1,865

 

Risk Management & Insurance Brokerage - International

 

420

 

413

 

403

 

459

 

1,695

 

Reinsurance Brokerage & Related Services

 

194

 

186

 

204

 

181

 

765

 

Claims Services

 

77

 

80

 

87

 

85

 

329

 

Total Risk & Insurance Brokerage Services

 

1,091

 

1,131

 

1,166

 

1,266

 

4,654

 

 

 

 

 

 

 

 

 

 

 

 

 

Consulting:

 

 

 

 

 

 

 

 

 

 

 

Consulting Services

 

183

 

194

 

193

 

226

 

796

 

Outsourcing

 

48

 

52

 

74

 

76

 

250

 

Total Consulting

 

231

 

246

 

267

 

302

 

1,046

 

 

 

 

 

 

 

 

 

 

 

 

 

Insurance Underwriting:

 

 

 

 

 

 

 

 

 

 

 

Accident & Health and Life

 

389

 

441

 

415

 

394

 

1,639

 

Warranty, Credit and Property & Casualty

 

260

 

309

 

303

 

290

 

1,162

 

Total Insurance Underwriting

 

649

 

750

 

718

 

684

 

2,801

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate & Other

 

45

 

(95

)

8

 

21

 

(21

)

Total

 

$

2,016

 

$

2,032

 

$

2,159

 

$

2,273

 

$

8,480

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations before provision for income tax and minority interest

 

 

 

 

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services

 

$

185

 

$

125

 

$

193

 

$

252

 

$

755

 

Consulting

 

27

 

24

 

26

 

45

 

122

 

Insurance Underwriting

 

68

 

2

 

41

 

44

 

155

 

Corporate & Other

 

(7

)

(147

)

(51

)

(37

)

(242

)

Total

 

$

273

 

$

4

 

$

209

 

$

304

 

$

790

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before provision for income tax - margins

 

 

 

 

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services

 

17.0

%

11.1

%

16.6

%

19.9

%

16.2

%

Consulting

 

11.7

%

9.8

%

9.7

%

14.9

%

11.7

%

Insurance Underwriting

 

10.5

%

0.3

%

5.7

%

6.4

%

5.5

%

Total

 

13.5

%

0.2

%

9.7

%

13.4

%

9.3

%

 


 

 

 

2001

 

(millions)

 

1st
Quarter

 

2nd
Quarter

 

3rd
Quarter

 

4th
Quarter

 

Full Year

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services:

 

 

 

 

 

 

 

 

 

 

 

Risk Management & Insurance Brokerage - Americas

 

$

384

 

$

432

 

$

393

 

$

518

 

$

1,727

 

Risk Management & Insurance Brokerage - International

 

375

 

342

 

322

 

374

 

1,413

 

Reinsurance Brokerage & Related Services

 

170

 

169

 

169

 

142

 

650

 

Claims Services

 

79

 

90

 

93

 

100

 

362

 

Total Risk & Insurance Brokerage Services

 

1,008

 

1,033

 

977

 

1,134

 

4,152

 

 

 

 

 

 

 

 

 

 

 

 

 

Consulting:

 

 

 

 

 

 

 

 

 

 

 

Consulting Services

 

169

 

181

 

180

 

210

 

740

 

Outsourcing

 

43

 

47

 

50

 

53

 

193

 

Total Consulting

 

212

 

228

 

230

 

263

 

933

 

 

 

 

 

 

 

 

 

 

 

 

 

Insurance Underwriting:

 

 

 

 

 

 

 

 

 

 

 

Accident & Health and Life

 

348

 

354

 

357

 

370

 

1,429

 

Warranty, Credit and Property & Casualty

 

280

 

255

 

284

 

273

 

1,092

 

Total Insurance Underwriting

 

628

 

609

 

641

 

643

 

2,521

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate & Other

 

(85

)

(14

)

3

 

(75

)

(171

)

Total

 

$

1,763

 

$

1,856

 

$

1,851

 

$

1,965

 

$

7,435

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations before provision for income tax and minority interest

 

 

 

 

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services

 

$

157

 

$

65

 

$

126

 

$

155

 

$

503

 

Consulting

 

24

 

24

 

29

 

50

 

127

 

Insurance Underwriting

 

68

 

60

 

45

 

(5

)

168

 

Corporate & Other

 

(169

)

(94

)

(76

)

(151

)

(490

)

Total

 

$

80

 

$

55

 

$

124

 

$

49

 

$

308

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before provision for income tax - margins

 

 

 

 

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services

 

15.6

%

6.3

%

12.9

%

13.7

%

12.1

%

Consulting

 

11.3

%

10.5

%

12.6

%

19.0

%

13.6

%

Insurance Underwriting

 

10.8

%

9.9

%

7.0

%

-0.8

%

6.7

%

Total

 

4.5

%

3.0

%

6.7

%

2.5

%

4.1

%

 

 -----END PRIVACY-ENHANCED MESSAGE-----