-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, KRso9GhwSsbtkvOylpveNEFPn+IeAmAT4Pcle2jXTuIlJswu6KrH+jhz5WiSNPXf SE7gaI9FwHgyPDD4nLz7Zg== 0000950131-95-001704.txt : 19950621 0000950131-95-001704.hdr.sgml : 19950621 ACCESSION NUMBER: 0000950131-95-001704 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19941231 FILED AS OF DATE: 19950620 SROS: CSX SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: AON CORP CENTRAL INDEX KEY: 0000315293 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] IRS NUMBER: 363051915 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07933 FILM NUMBER: 95548125 BUSINESS ADDRESS: STREET 1: 123 N WACKER DR CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3127013000 FORMER COMPANY: FORMER CONFORMED NAME: COMBINED INTERNATIONAL CORP DATE OF NAME CHANGE: 19870504 11-K 1 FORM 11-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 11-K X Annual Report Pursuant to Section 15(d) of the Securities ----- Exchange Act of 1934 For the fiscal year ended December 31, 1994 OR Transition Report Pursuant to Section 15(d) of the ----- Securities Exchange Act of 1934 A. Full title of the plan and the address of the plan, if different from the issuer named below: Aon Savings Plan B. Name of the issuer of the securities held pursuant to the plan and the address of its principal executive office: Aon Corporation 123 N. Wacker Drive Chicago, Illinois 60606 Aon SAVINGS PLAN ITEM 1. FINANCIAL STATEMENTS AND SCHEDULES INDEX TO AUDITED FINANCIAL STATEMENTS AND SCHEDULES ---------------------------------------------------
Page ------ Report of Independent Auditors 1 Financial Statements: Statements of Net Assets Available for Plan Benefits at December 31, 1994 and 1993 2 Statements of Changes in Net Assets Available for Plan Benefits for the years ended December 31, 1994 and 1993 3 Notes to Financial Statements 4 Financial Statement Schedules: Schedule I Assets Held for Investment as of December 31, 1994 9 Schedule II Net Assets Available for Plan Benefits by Investment Program at December 31, 1994 and 1993 20 Schedule III Changes in Net Assets Available for Plan Benefits by Investment Program for the years ended December 31, 1994 and 1993 22 Schedule IV Transactions or Series of Transactions in Excess of 5% of the Current Value of Plan Assets for the year ended December 31, 1994 24
ITEM 2. EXHIBITS Exhibit No. ----------- 23(a) Consent of Ernst & Young, Independent Auditors REPORT OF INDEPENDENT AUDITORS The Participants and Administrative Committee Aon Savings Plan We have audited the accompanying statements of net assets available for plan benefits of Aon Savings Plan as of December 31, 1994 and 1993, and the related statements of changes in net assets available for plan benefits for the years then ended. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for plan benefits of the Plan at December 31, 1994 and 1993, and the changes in its net assets available for plan benefits for the years then ended, in conformity with generally accepted accounting principles. Our audits were made for the purpose of forming an opinion on the financial statements taken as a whole. The accompanying supplemental schedules of assets held for investment as of December 31, 1994 (Schedule I) and transactions or series of transactions in excess of 5% of the current value of plan assets for the year ended December 31, 1994 (Schedule IV), are presented for purposes of complying with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, and are not a required part of the financial statements. The supplemental schedules have been subjected to the auditing procedures applied in our audit of the 1994 financial statements and, in our opinion, are fairly stated in all material respects in relation to the 1994 financial statements taken as a whole. /s/ Ernst & Young LLP ERNST & YOUNG LLP June 9, 1995 Aon SAVINGS PLAN STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
December 31 ---------------------- 1994 1993 ---- ---- ASSETS - ------ Investments, at Fair Value (Notes 1,2, and 3): United States Government and Government Agency Issues $ 37,916,274 $ 38,959,918 Corporate Bonds and Notes 8,098,890 8,999,672 Other Bonds 920,500 1,077,840 Common Stocks: Aon Corporation 155,385,888 144,755,222 Other 59,847,568 59,152,208 Preferred Stocks 1,457,000 2,519,500 Investments held in the Life of Virginia Series Funds, Inc.: Money Market Portfolio 18,516,372 - Government Securities Portfolio 3,777,576 - Total Return Portfolio 19,848,878 - Common Stock Index Portfolio 14,674,806 - Other Long-Term Investments 25,288 - Short-Term Investments 8,778,053 51,743,192 ------------ ------------ 329,247,093 307,207,552 Unallocated Guaranteed Insurance Contracts, at Contract Value 135,532,699 113,047,429 ------------ ------------ Total Investments 464,779,792 420,254,981 Receivables: Contribution Receivable from Aon Corporation 13,629,906 13,349,681 Contributions Receivable from Participants 1,006,213 817,524 Loans Receivable 801,935 1,356,492 Accrued Dividends and Interest 946,466 937,530 Due from Broker 5,732,153 14,041,460 ------------ ------------ Total Receivables 22,116,673 30,502,687 ------------ ------------ Total Assets 486,896,465 450,757,668 ------------ ------------ LIABILITIES - ----------- Accounts Payable and Accrued Expenses 127,980 128,253 ------------ ------------ Total Liabilities 127,980 128,253 ------------ ------------ Net Assets Available for Plan Benefits $486,768,485 $450,629,415 ============ ============
See notes to financial statements. 2 Aon SAVINGS PLAN STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
Year Ended December 31 ---------------------- 1994 1993 ADDITIONS: ---- ---- - ---------- Investment Income: Interest and Income from Unallocated Guaranteed Insurance Contracts $ 13,771,237 $ 15,483,632 Aon Corporation Dividends 5,975,609 5,052,783 Other Dividends 3,475,361 1,620,968 ------------ ------------ 23,222,207 22,157,383 Contributions: Aon Corporation 13,629,906 13,349,681 ESOP Diversification 57,357 37,934 Participants 41,642,356 26,500,697 ------------ ------------ 55,329,619 39,888,312 ------------ ------------ 78,551,826 62,045,695 DEDUCTIONS: - ----------- Benefits Paid to Participants 33,754,528 39,828,741 Administrative Expenses 935,718 764,604 Investment Expenses 386,720 527,696 ------------ ------------ 35,076,966 41,121,041 ------------ ------------ 43,474,860 20,924,654 Net Realized and Unrealized Depreciation in Fair Value of Investments (Note 3) (7,335,790) (5,124,711) ------------ ------------ Net Increases 36,139,070 15,799,943 Net Assets Available for Plan Benefits at Beginning of Year 450,629,415 354,182,096 Plan Mergers - 80,647,376 ------------ ------------ Net Assets Available for Plan Benefits at End of Year $486,768,485 $450,629,415 ============ ============
See notes to financial statements. 3 Aon SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS 1994 and 1993 1. Description of Plan ------------------- A. General The Aon Savings Plan (the "Plan") was authorized by the Board of Directors of Aon Corporation (the "Company"). The Plan has been designed as a salary reduction plan under Section 401(k) of the Internal Revenue Code of 1986, as amended (the "Code"). The Plan is subject to and is designed to comply with the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA") applicable to defined contribution profit sharing plans, specifically "Title I - Protection of Employee Benefits Rights" which includes regulatory provisions regarding reporting and disclosure, participation and vesting, funding, fiduciary responsibility, administration and enforcement. The minimum funding standards of Title I do not, however, apply to the Plan. B. Plan Changes On July 1, 1994, the Plan introduced three new investment options, the Government Securities Fund, the Common Stock Index Fund and the Total Return Fund. These new funds along with the Money Market Fund are invested in the portfolios of the Life of Virginia Series Funds, Inc., an affiliated registered investment company. Also effective on July 1, 1994, the Balanced Fund has become a closed fund and will no longer accept new monies. C. Plan Mergers and Transfer of Assets Effective January 1, 1993, the Savings and Investment Plan for the Employees of Frank B. Hall & Co. Inc. (the "FBH Plan") was merged into the Aon Savings Plan. All assets and liabilities of the FBH Plan were transferred to the Aon Savings Plan as of January 1, 1993. Participants of the FBH Plan immediately became Participants in the Aon Savings Plan and were given the option to select the Aon Savings Plan investment funds in which their participant balances would be invested. Of the six funds that existed in the FBH Plan, the Reliance Group Holdings, Inc. Common Stock Fund and the Frank B. Hall and Co. Inc. Preferred Stock Fund were continued in the Aon Savings Plan. Effective January 1, 1993, Participants could not elect to have current contributions invested in these two funds. On January 22, 1993, Prometheus Funding Corporation, formerly Frank B. Hall & Co. Inc., announced the redemption of the Frank B. Hall & Co. Inc. Series B Cumulative Preferred Stock ("FBH Preferred Stock"). Participants in the Plan who had invested in the FBH Preferred Stock could either convert the preferred stock to 1) common stock of Reliance Group Holdings, Inc. at a conversion ratio of 9.08 common shares for every preferred share or 2) cash in the amount of $53.2853 per share to be invested in the remaining fund options. Those Participants who had invested in the Reliance Group Holdings, Inc. Common Stock Fund immediately before the plan merger may continue to invest that portion of their account balance in that fund subsequent to the plan merger. Effective July 1, 1993, the Salary Deferral Thrift Plan for the Employees of Booke & Company (the "Booke Plan") was merged into the Plan. Participants of the Booke Plan immediately became Participants in the Aon Savings Plan. All assets and liabilities of the Booke Plan were transferred to the Aon Savings Plan as of July 1, 1993. 4 Effective August 1, 1993, the K and K Insurance Agency, Inc. 401(k) Profit Sharing Trust (the "K and K Plan") was merged into the Plan. Participants of the K and K Plan immediately became Participants in the Aon Savings Plan. All assets and liabilities of the K and K Plan were transferred to the Aon Savings Plan as of August 1, 1993. D. Eligibility and Participation Participation in the Plan is limited to employees who have completed one year of service and attained the age of 21 or employees who were eligible under another Plan that was merged into the Aon Savings Plan. An employee must be employed in the United States on a permanent basis in order to participate. E. Contributions Participant - Participant contributions are made by means of regular ----------- payroll deductions. Non-highly compensated Participants, as defined by the Code, may elect to make contributions of between 2% and 10% of their compensation, as defined by the Plan. Highly compensated participants, as defined by the Code, may elect to make contributions of between 2% and 6% of their compensation, as defined by the Plan. Participant contributions are limited to amounts allowed under the Tax Reform Act of 1986. Accordingly, the maximum Participant contribution was $9,240 and $8,994 in 1994 and 1993, respectively. Company - The Company will contribute an amount equal to 100% of a ------- Participant's contributions, on the first 3% of compensation contributed for the year. The Plan requires that a Participant be actively employed and contributing to the Plan as of the last day of the Plan year in order to receive a company contribution. F. Investment Provisions Contributions to the Plan may be invested in one or more of the following investment funds: Money Market Fund - Invested principally in shares of the Money Market ----------------- Portfolio of the Life of Virginia Series Funds, Inc., an affiliated registered investment company. The portfolio invests in various types of good quality money market securities including certificates of deposit, commercial paper, U.S. Treasury and Agency securities and other similar instruments. Aon Stock Fund - Invested principally in common stock of the Company -------------- that is purchased on the open market or in private transactions. At December 31, 1994, 32% of the net assets available for plan benefits were invested in the Company's common stock. Investment Contract Fund - Invested principally in unallocated ------------------------ guaranteed insurance contracts and short-term investment funds. During 1994 and 1993, Fidelity Management Trust Company ("Investment Manager") was the Investment Manager for this Fund. In 1995, members of the Company's Investment Department became managers of this Fund. The Investment Manager is a fiduciary within the meaning of ERISA Section 3(21). Certain restrictions and penalties may apply with regard to the termination of unallocated guaranteed insurance contracts prior to the scheduled maturity date. Government Securities Fund - Invested principally in shares of the -------------------------- Government Securities Portfolio of the Life of Virginia Series Fund, Inc. The portfolio invests in intermediate and long-term debt securities issued or guaranteed by the U.S. Government or its agencies or instrumentalities. 5 Total Return Fund - Invested principally in shares of the Total ----------------- Return Portfolio of the Life of Virginia Series Funds, Inc. The portfolio invests in equities, fixed income and money market instruments. Common Stock Index Fund - Invested principally in shares of the ----------------------- Common Stock Index Portfolio of the Life of Virginia Series Funds, Inc. The investment objective of the portfolio is to replicate the total return of the S&P 500 Index through investment in common stocks traded on the New York Stock Exchange and the American Stock Exchange and, to a limited extent, in the over-the-counter markets. The Plan's net assets available for plan benefits and changes in net assets available for plan benefits by investment program are set forth on Schedules II and III, respectively, and are incorporated herein by reference. G. Account Balances Each Participant's account is credited with the Participant's contribution and an allocation of a) the Company's contribution, b) Plan earnings, and c) Forfeitures of terminated Participants' non-vested accounts. Participants are fully vested in their contributions plus actual earnings thereon. Participants become 100% vested in the remainder of their account balance after five years of Plan Service. Forfeitures of non-vested accounts are allocated to the remaining Participants. The amount of forfeitures allocated to Participants was $344,106 and $667,438 for 1994 and 1993, respectively. On termination of service, a participant may elect to receive either a lump sum amount equal to the value of his or her account and/or monthly installments over a period not to exceed ten years. H. Plan Termination Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of plan termination, participants will become 100% vested in their account balances. I. Loan Administration Under the Aon Savings Plan, participants do not have the ability to borrow from their accounts. Prior to the plan mergers, the FBH Plan, the Booke Plan and the K and K Plan permitted Participants to borrow from the vested portion of their account. At the date of merger, Participants under the former plans could no longer borrow from the vested portion of their account. However, the Plan will continue to administer those loans that existed prior to the mergers. J. Summary Plan Description Participants of the Plan should refer to the Summary Plan Description for a more complete description of the Plan. 6 2. Summary of Significant Accounting Policies ------------------------------------------ A. Investments Investments except for unallocated guaranteed insurance contracts, are carried at fair value, which for marketable securities is based on quotations obtained from national securities exchanges and various other sources. Investments in unallocated guaranteed insurance contracts are valued at contract value, which represents contributions made under the contract, plus interest at the contract rate, less any administrative charges. The Plan believes contract value approximates fair value. Interest income is recorded as earned. Dividend income is recorded on the ex-dividend date. Realized gains or losses on investments are the difference between the proceeds received and the cost of investments sold as determined on a first-in, first-out basis. The change in the difference between fair value and the cost of investments is reported as unrealized appreciation or depreciation of investments. B. Operating Expenses Administrative expenses of the Plan, including expenses of the Trustees, are paid from the Plan assets, except to the extent that the Company at its discretion, may decide to pay such expenses. Administrative expenses include $936,000 and $765,000 in 1994 and 1993, respectively, paid to subsidiaries of the Company. 3. Investments ----------- The Northern Trust Company is the custodian of the Plan assets and Trustee for the Aon Stock Fund. The remaining Trustees for the Plan are members of the Company's Investment Department and they have been given the discretion and authority to manage the investments. The Trustees are named fiduciaries under ERISA. The net realized and unrealized appreciation (depreciation) in fair value of Plan investments are as follows:
1994 1993 ------ ------ United States Government and Government Agency Issues $ (2,790,665) $ 2,507,978 Corporate Bonds and Notes (1,100,782) 920,199 Other Bonds (414,695) 155,335 Common Stock: Aon Corporation (1,386,014) (16,423,437) Other (816,886) 7,373,482 Preferred Stocks (632,935) 340,950 Investment held in the Life of Virginia Series Funds, Inc.: Money Market Portfolio (96,974) - Government Securities Portfolio (152,200) - Total Return Portfolio (106,017) - Common Stock Index Portfolio 161,039 - Unallocated Guaranteed Insurance Contracts 339 1,782 ------------ ------------ $ (7,335,790) $ (5,124,711) ============ ============
7 The aggregate cost of investments was $412,490,537 and $358,158,986 at December 31, 1994 and 1993, respectively. The following investments exceed 5% of the Plan's net assets available for plan benefits:
December 31 --------------- 1994 1993 ------ ------ Aon Corporation, Common Stock $155,385,888 $144,755,222 Short-Term Investment Fund, Collective Trust Funds of The Northern Trust Company - 51,700,063
The Plan has unallocated guaranteed insurance contracts with a contract value of $18,817,867 that are issued by insurance subsidiaries of the Company. On August 12, 1994, the Canadian and United States insurance regulators assumed control of Confederation Life Insurance Company to protect policyholders and other creditors. The investment contract with Confederation Life is accounted for at contract value as of August 12, 1994 in the amount of $8,937,801, and interest on the contract is no longer being accrued. The benefit responsiveness of the contract has been limited to normal retirement, death, disability and hardship. Other withdrawals for employee terminations, loans and transfers will not be permitted. 4. Federal Income Taxes -------------------- On September 14, 1994, the Plan has requested a determination letter with respect to the 1) mergers of the FBH Plan, the Booke Plan, and the K and K Plan, 2) change in the percentage of compensation relating to participant contributions made by highly and non-highly compensated participants, and 3) changes made to Code Section 402 relating to rollovers made to employees as a result of The Unemployment Compensation Act of 1992. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification. The Plan's Administrative Committee is not aware of any course of action or series of events that have occurred that might adversely affect the Plan's qualified status. 8 Schedule I Aon SAVINGS PLAN ASSETS HELD FOR INVESTMENT December 31, 1994 Schedule I represents the investments of the Aon Savings Plan. The investments are allocated to the various investment funds in which the Plan's Participants may elect to invest their funds. Schedule II, following on page 20, represents the composition of these investment funds for the Aon Savings Plan.
Number of Shares ---------------- Issue Principal Amount Cost Fair Value - -------------------------------------------------------------------------------------------------------------------- Money Market Fund - ----------------- Mutual Fund Investments held in the Life of Virginia Series Funds, Inc.: Money Market Portfolio 1,820,686 $ 18,616,138 $ 18,516,372 Short-Term Investments Short-Term Investment Fund, Collective Trust Funds of The Northern Trust Company $ 303,100 303,100 303,100 ------------ ------------ Total Money Market Fund $ 18,919,238 $ 18,819,472 ============ ============ Balanced Fund - ------------- Common Stock Advanta Corporation Class A Common Stock, $.01 par 5,000 $ 153,453 $ 131,250 Alco Standard Corporation Common Stock, No par 19,300 672,746 1,211,075 American General Corporation Common Stock, $1.50 par 28,000 440,755 791,000 American International Group, Inc. Common Stock, $2.50 par 11,000 412,611 1,078,000 American Stores Company Common Stock, $1.00 par 41,600 591,287 1,118,000 American Telephone & Telegraph Common Stock 11,000 610,225 551,375 Amli Residential Properties Common Stock, $0.01 par 25,000 512,500 468,750 Amoco Corporation Common Stock, no par 11,100 612,514 656,288 Anheuser Busch Companies, Inc. Common Stock, $1.00 par 7,500 371,783 381,563
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Number of Shares ---------------- Issue Principal Amount Cost Fair Value - -------------------------------------------------------------------------------------------------------------------- Aptargroup, Inc. Common Stock, $0.01 par 2,000 $ 51,000 $ 57,500 Archer-Daniels-Midland Co. Common Stock, No par 90,956 668,854 1,875,973 Avery Dennison Corporation Common Stock, $1.00 par 24,000 676,413 852,000 Barnes & Noble Common Stock, $.001 par 21,800 612,262 681,250 Bay Apartment Communities Inc. Common Stock 5,000 100,000 100,625 Becton, Dickinson and Co. Common Stock, $1.00 par 15,000 486,772 720,000 Boeing Company Capital Stock, $5.00 par 18,000 802,131 846,000 Briggs & Stratton Corporation Capital Stock, $3.00 par 20,000 297,175 655,000 Colonial Properties Trust Common Stock, $.01 par 17,000 391,000 382,500 Comcast Corp Class A Special Common Stock 4,000 62,000 62,752 Compuware Corporation Common Stock, $.01 par 25,000 596,100 900,000 Crown Cork & Seal Co., Inc. Common Stock, $5.00 par 35,000 411,469 1,321,250 CSX Corporation Common Stock, $1.00 par 12,200 597,046 849,425 CUC International, Inc. Common Stock, $.01 par 20,000 658,410 665,000 Dayton-Hudson Corporation Common Stock, $1.00 par 13,000 824,751 919,750 DeBartolo Realty Corporation Common Stock 35,000 516,250 525,000 Dentsply International Inc. Common Stock 6,000 211,500 189,000 Walt Disney Productions Common Stock, $.025 par 2,000 79,245 92,000 Du Pont, E.I. DeNemours & Co. Common Stock, $5.00 par 16,500 441,719 926,063
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Number of Shares ---------------- Issue Principal Amount Cost Fair Value - -------------------------------------------------------------------------------------------------------------------- Duke Realty Investment Inc. Common Stock 10,000 $ 252,500 $ 282,500 Enron Global Power & Pipeline Common Stock 6,500 158,393 143,000 Equity Residential Properties Common Stock, $.01 par 20,100 522,600 603,000 Federal Realty Investment Trust Share of Beneficial Interest, No par 33,000 858,000 680,625 First Financial Management Corporation Common Stock, $.10 par 11,000 591,342 677,875 First Industrial Realty Trust Inc. Common Stock 16,000 376,000 312,000 Fruit of the Loom, Inc. Class A Common Stock 19,000 516,515 513,000 GTE Corporation Common Stock, $3.33 1/3 par 20,000 645,277 607,500 Glimcher Realty Trust Common Stock 20,000 405,000 437,500 Greenfield Industries, Inc. Common Stock 10,000 197,500 240,000 Groupo Mexicano De Desarrollo Common Stock, ADR Ser B 7,000 119,000 53,375 Groupo Mexicano De Desarrollo Common Stock, ADR Rep Ser L 8,037 135,659 71,328 Groupo Televisa Common Stock, Rep Ord 144A 15,600 998,400 495,300 Harcourt General, Inc. Common Stock, $1.00 par 25,000 509,672 881,250 Harley Davidson, Inc. Common Stock, $.01 par 31,600 657,177 884,800 Health & Retirement Properties Trust Common Stock, $.01 par 12,000 174,000 160,500 Healthcare Realty Trust Common Stock 20,000 427,500 420,000 Health Care REIT, Inc. Common Stock, $1.00 par 23,000 572,076 460,000 Honeywell, Inc. Common Stock, $1.50 par 22,000 472,960 693,000
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Number of Shares ---------------- Issue Principal Amount Cost Fair Value - -------------------------------------------------------------------------------------------------------------------- Horizon Outlet Centers, Inc. Common Stock, $.01 par 24,000 $ 592,416 $ 627,000 ITT Corporation Common Stock, $1.00 par 10,800 529,754 957,150 Illinois Tool Works, Inc. Common Stock, $3.33 1/3 par 10,200 379,884 446,250 Information Resources, Inc. Common Stock, $.01 par 9,500 363,800 130,625 Insignia Financial Group A Common Stock, $.01 par 9,500 160,750 191,188 Integrated Device Technology, Inc. Common Stock, $.001 par 32,000 429,100 948,000 Integrated Health Services, Inc. Common Stock, $.001 par 17,200 494,345 679,400 Interim Services Inc. Common Stock 10,000 228,750 246,250 Itron, Inc. Common Stock, no par 7,500 101,250 151,875 Johnson & Johnson Common Stock, $1.00 par 19,000 822,685 1,040,250 Jones Intercable Investment Class A Common Stock 2,300 25,098 25,013 Keane Inc. Common Stock, $0.10 par 7,000 136,500 166,250 Leggett & Platt, Inc. Common Stock, $1.00 par 7,200 334,019 252,000 Litton Industries, Inc. Common Stock, $1.00 par 15,000 240,877 555,000 Macerich Company Common Stock 5,000 95,000 106,875 Mobil Corporation Common Stock, $3.75 par 8,500 569,160 716,125 Motorola, Inc. Common Stock, $3.00 par 20,600 950,161 1,194,800 National Wireless Holdings, Inc. Common Stock 9,200 115,000 83,950 Nationsbank Corporation Common Stock, $2.50 par 15,000 623,598 676,875
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Number of Shares ---------------- Issue Principal Amount Cost Fair Value - -------------------------------------------------------------------------------------------------------------------- NBD Bancorp, Inc. Common Stock, $6.25 par 34,500 $ 616,936 $ 944,437 Northern Border Partners L.P. Common Stock, $.01 par 20,700 520,022 429,525 Oasis Residential, Inc. Common Stock, $.01 par 7,000 152,250 171,500 Omega Healthcare Investor, Inc. Common Stock 39,000 945,750 940,875 Parker Hannifin Corporation Common Stock, no par 17,000 520,973 773,500 Pepsico, Inc. Common Stock, $.05 par 15,000 594,000 543,750 Philip Morris Companies, Inc. Common Stock, $1.00 par 19,000 1,157,850 1,092,500 Proctor & Gamble Company Common Stock, No par 5,500 303,358 341,000 Rayonier Incorporated Common Stock 2,700 48,190 82,350 Reptron Electronics, Inc. Common Stock 37,000 481,000 328,375 Royal Dutch Petroleum Co. 5 Guilders par 7,500 598,840 808,125 Schering-Plough Corporation Common Stock, $1.00 par 14,000 817,569 1,036,000 Sherwin-Williams Co. Common Stock, $6.25 par 40,000 641,914 1,335,000 Storage USA Incorporated Common Stock 14,000 364,000 385,000 Summit Properties Incorporated Common Stock 20,000 380,000 385,000 Tele-Communications, Inc. Class A Common Stock, $1.00 par 35,000 702,795 761,250 Temple Inland Inc. Common Stock, $1.00 par 20,000 622,804 902,500 Time Warner, Inc. Common Stock, $1.00 par 18,000 669,580 632,250 Tommy Hilfiger Corporation Common Stock, $.01 par 14,800 448,000 667,850
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Number of Shares ---------------- Issue Principal Amount Cost Fair Value - -------------------------------------------------------------------------------------------------------------------- Tucker Properties Corporation Common Stock, $.001 par 10,000 $ 180,000 $ 127,500 Unilever N.V. 4 Guilders par 8,000 773,964 932,000 US Robotics Corporation Common Stock, $.01 par 19,000 606,100 821,750 U.S. West, Inc. Common Stock, no par 18,000 796,290 641,250 United Video Satellite Group, Inc. Class A Common Stock, $.01 par 28,600 431,503 686,400 US Life Corporation Common Stock, $1.00 par 25,000 715,859 871,875 Viacom Inc. Class A Common Stock 672 108,308 27,972 Viacom Inc. Class B Common Stock 5,092 103,628 207,499 Viacom Contingent Value Common Stock 8,400 9,360 9,450 Warnaco Group, Inc. Class A Common Stock, $.01 par 26,600 430,137 458,850 Watsco, Inc. Class A Common Stock 8,000 127,480 133,000 Watson Pharmaceuticals, Inc. Common Stock, $.0033 par 12,000 352,754 315,000 Western Atlas Inc. Common Stock 15,000 307,326 564,375 Xerox Corporation Common Stock, $1.00 par 9,000 462,832 891,000 ------------ ------------ Total Common Stock 44,635,061 56,068,526 ------------ ------------ Preferred Stock Prime Retail Inc. Series B Convertible Preferred Stock 35,000 875,000 665,000 Property Trust Company of America Series A 7% Convertible Preferred Stock 36,000 900,000 792,000 ------------ ------------ Total Preferred Stock 1,775,000 1,457,000 ------------ ------------
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Number of Shares ---------------- Issue Principal Amount Cost Fair Value - -------------------------------------------------------------------------------------------------------------------- U.S. Government and Government Agency Issues Federal National Mortgage Association Series SM-2002-J 7.3% Debenture due 10/28/2002 Registered $ 4,500,000 $ 4,500,000 $ 4,220,145 U.S. Treasury, Series A-2001 7.75% Note due 2/15/2001 3,500,000 3,449,688 3,486,875 U.S. Treasury, Series F-1999 7% Note due 4/15/1999 3,550,000 3,509,937 3,440,163 U.S. Treasury, Series N-1997 6.375% Note due 6/30/1997 750,000 762,656 726,563 U.S. Treasury, Series C-2001 7.875% Note due 8/15/2001 3,000,000 3,000,000 3,006,570 U.S. Treasury, Series L 6.875% Note due 4/30/1997 3,550,000 3,551,570 3,483,438 U.S. Treasury, Series D-2000 8.5% Note due 11/15/2000 1,000,000 1,029,063 1,031,250 U.S. Treasury 5.875% Note due 5/31/1996 2,000,000 2,004,375 1,956,260 U.S. Treasury 4.25% Note due 12/31/1995 Registered 2,000,000 2,000,156 1,941,880 U.S. Treasury 4.25% Note due 11/30/1995 Registered 13,000,000 13,014,453 12,658,750 U.S. Treasury, Series D-2001 7.5% Note due 11/15/2001 2,000,000 2,015,156 1,964,380 ------------- ------------- Total U.S. Government and Government Agency Issues 38,837,054 37,916,274 ------------- ------------- Corporate Bonds and Notes Archer-Daniels-Midland Co. 8.875% Bond due 4/15/2011, Registered 1,000,000 994,860 1,029,120 Associates Corp of North America 7.77% Note due 3/9/1999 1,000,000 1,000,000 974,640 Dow Chemical Company 9.35% Note due 3/15/2002, Registered 1,000,000 998,000 1,042,580
15
Number of Shares ---------------- Issue Principal Amount Cost Fair Value - -------------------------------------------------------------------------------------------------------------------- Du Pont, E.I. DeNemours & Co. 6% Debenture due 12/1/2001, Registered $ 1,000,000 $ 736,250 $ 883,750 General Motors Acceptance Corporation 6% Debenture due 4/1/2011, Registered 750,000 542,505 564,375 Hillenbrand Industries, Inc. 8.5% Bond due 12/1/2011, Registered 500,000 499,495 490,815 Hydro Quebec Electric 7.74% Medium Term Note due 2/26/1999 1,000,000 998,925 975,860 Liberty Property Trust 8% Convertible Sub Debenture due 7/1/2001, Registered 200,000 200,000 194,000 Monsanto Defined Contribution & Employee Stock Ownership Trust 8.13% Debenture due 12/15/2006 1,000,000 1,000,000 976,070 Norfolk Southern Railway Equipment Trust Series B 8% Certificate due 3/1/2006 1,000,000 949,230 967,680 ------------ ------------ Total Corporate Bonds and Notes 7,919,265 8,098,890 ------------ ------------ Other Hydro-Quebec Canada 8% Non-Callable Debenture due 2/1/2013 1,000,000 994,860 920,500 Short-Term Investments Short-Term Investment Fund, Collective Trust Funds of The Northern Trust Company 2,194,428 2,194,428 2,194,428 ------------ ------------ Total Balanced Fund $ 96,355,668 $ 106,655,618 ============ ============ Aon Stock Fund - -------------- Common Stock Aon Corporation Common Stock, $1.00 par 4,855,809 $ 109,536,314 $ 155,385,888 Short-Term Investments Short-Term Investment Fund, Collective Trust Funds of The Northern Trust Company $ 225,765 225,765 225,765 ------------ ------------ Total Aon Stock Fund $ 109,762,079 $ 155,611,653 ============ ============
16
Number of Shares ---------------- Issue Principal Amount Cost Fair Value - -------------------------------------------------------------------------------------------------------------------- Investment Contract Fund - ------------------------ Unallocated Insurance Contracts Canada Life Assurance Company Contract #P45672 6.05% due 10/16/1997 $ 2,024,286 $ 2,024,286 $ 2,024,286 Combined Insurance Co. of America Contract #CG1000 7.12% due 9/30/96, 6/30/99 8,260,443 8,260,443 8,260,443 Commonwealth Life Insurance Co. Contract #ADA00551FR 5.35% due 6/30/95, 6/30/98 5,242,784 5,242,784 5,242,784 Commonwealth Life Insurance Co. Contract #ADA00395FR 8.58% due 6/30/1996 7,816,011 7,816,011 7,816,011 Confederation Life Insurance Co. Contract #62718 6.96% due 3/31/1998 8,937,801 8,937,801 8,937,801 Connecticut General Life Insurance Company, IN-16017 9.832% due 12/20/1995, 12/20/1996 8,109,110 8,109,110 8,109,110 Connecticut General Life Insurance Company, #0025125 8.13% due 1/2/1996 6,663,304 6,663,304 6,663,304 Continental Assurance Co. Contract #GP-12736 5.58% due 1/2/1995 1,825,802 1,825,802 1,825,802 Hartford Life Insurance Co. Contract #GA-9102 8.37% due 6/30/1995, 12/31/1995 13,581,302 13,581,302 13,581,302 The Life Insurance Company of Georgia Contract #GA 289 6.7% due 6/30/1997 11,729,843 11,729,843 11,729,843 The Life Insurance Company of Virginia Contract #GS2753 5.67% due 9/30/98 10,557,424 10,557,424 10,557,424 Metropolitan Life Insurance Co. Contract #13272 6.53% due 12/31/1997 11,673,797 11,673,797 11,673,797 New York Life Insurance Co. Contract #GA06068 8.1% due 1/2/1996 2,876,382 2,876,382 2,876,382
17
Number of Shares ---------------- Issue Principal Amount Cost Fair Value - -------------------------------------------------------------------------------------------------------------------- Pacific Mutual Life Insurance Co. Contract #G25899-01 6.36% due 12/31/1995 $ 9,963,051 $ 9,963,051 $ 9,963,051 Protective Life Insurance Company Contract # GR-9039 7.36% due 3/31/99 4,068,817 4,068,817 4,068,817 Provident Life & Accident Insurance Co. Contract #627-05641 5.79% due 12/31/98 4,438,386 4,438,386 4,438,386 Prudential Contract #6458 5.20% due 6/30/95, 6/30/98 10,512,697 10,512,697 10,512,697 Sun Life Insurance Co. Contract #GICFA-484 6.02% due 12/31/98 4,460,692 4,460,692 4,460,692 Travelers Insurance Co. Contract #GR-9039 6.6%, Reset annually 2,790,767 2,790,767 2,790,767 --------------- --------------- Total Unallocated Guaranteed Insurance Contracts 135,532,699 135,532,699 --------------- --------------- Other Continental Bank Real Estate Fund #1 1 1,950 2,924 Wachovia Real Estate Fund 54 40,735 22,364 --------------- --------------- 42,685 25,288 --------------- --------------- Short-Term Investments Short-Term Investment Fund, Collective Trust Funds of The Northern Trust Company 4,526,451 4,526,451 4,526,451 CF Continental Short-Term Investors II Fund 1 1 1 Wachovia Bank of North Carolina Cash 211 211 211 --------------- --------------- Total Short-Term Investments 4,526,663 4,526,663 --------------- --------------- Total Investment Contract Fund $ 140,102,047 $ 140,084,650 =============== =============== Reliance Group Holdings Common Stock Fund - ----------------------------------------- Common Stock Reliance Group Holdings, Inc. Common Stock, $.10 par 728,490 $ 7,424,967 $ 3,779,042
18
Number of Shares ---------------- Issue Principal Amount Cost Fair Value - -------------------------------------------------------------------------------------------------------------------- Short-Term Investments Short-Term Investment Fund, Collective Trust Funds of The Northern Trust Company $ 604,347 $ 604,347 $ 604,347 ------------- ------------- Total Reliance Group Holdings Common Stock Fund $ 8,029,314 $ 4,383,389 ============= ============= Government Securities Fund - -------------------------- Mutual Fund Investments held in the Life of Virginia Series Funds, Inc.: Government Securities Portfolio 397,221 $ 3,929,777 $ 3,777,576 Short-Term Investments Short-Term Investment Fund, Collective Trust Funds of The Northern Trust Company $ 325,388 325,388 325,388 ------------- ------------- Total Government Securities Fund $ 4,255,165 $ 4,102,964 ============= ============= Total Return Fund - ----------------- Mutual Fund Investments held in the Life of Virginia Series Funds, Inc.: Total Return Portfolio 1,481,260 $ 19,954,895 $ 19,848,878 Short-Term Investments Short-Term Investment Fund, Collective Trust Funds of The Northern Trust Company $ 261,175 261,175 261,175 ------------- ------------- Total Total Return Fund $ 20,216,070 $ 20,110,053 ============= ============= Common Stock Index Fund - ----------------------- Mutual Fund Investments held in the Life of Virginia Series Funds, Inc.: Common Stock Index Portfolio 933,512 $ 14,513,770 $ 14,674,806 Short-Term Investments Short-Term Investment Fund, Collective Trust Funds of The Northern Trust Company $ 337,187 337,187 337,187 ------------- ------------- Total Common Stock Index Fund $ 14,850,957 $ 15,011,993 ============= ============= Total Investments $ 412,490,537 $ 464,779,792 ============= =============
19 Schedule II Aon SAVINGS PLAN NET ASSETS AVAILABLE FOR PLAN BENEFITS BY INVESTMENT PROGRAM DECEMBER 31, 1994
Money Aon Investment RGH ASSETS Market Balanced Stock Contracts Common Stock - ------ -------------- -------------- -------------- -------------- -------------- Investments, at Fair Value: United States Government and Government Agency Securities $ 37,916,274 Corporate Bonds and Notes 8,098,890 Other Bonds 920,500 Common Stocks: Aon Corporation - $ 155,385,888 Other 56,068,526 - $ 3,779,042 Preferred Stocks 1,457,000 - - Investments held in the Life of Virginia Series Funds, Inc.: Money Market Portfolio $ 18,516,372 - - - Government Securities Portfolio - - - - Total Return Portfolio - - - - Common Stock Index Portfolio - - - - Other Long-Term Investments - - - $ 25,288 - Short-Term Investments 303,100 2,194,428 225,765 4,526,663 604,347 -------------- -------------- -------------- -------------- -------------- 18,819,472 106,655,618 155,611,653 4,551,951 4,383,389 Unallocated Guaranteed Insurance Contracts, at Contract Value - - - 135,532,699 - -------------- -------------- -------------- -------------- -------------- Total Investments 18,819,472 106,655,618 155,611,653 140,084,650 4,383,389 Receivables: Contribution Receivable from Aon Corporation 849,153 - 4,993,846 2,969,163 - Contributions Receivable from Participants 52,546 (2,256) 358,537 229,227 - Loans Receivable - - - - - Accrued Dividends and Income 1,016 819,586 3,788 56,060 62,368 Due from Broker - - - 5,732,153 - Fund Transfers (199,917) (1,995) 111,741 204,029 (383,086) -------------- -------------- -------------- -------------- -------------- Total Receivables 702,798 815,335 5,467,912 9,190,632 (320,718) -------------- -------------- -------------- -------------- -------------- Total Assets 19,522,270 107,470,953 161,079,565 149,275,282 4,062,671 -------------- -------------- -------------- -------------- -------------- LIABILITIES - ----------- Accounts Payable and Accrued Expenses 4,047 1,761 2,544 116,286 2,950 -------------- -------------- -------------- -------------- -------------- Net Assets Available for Plan Benefits $ 19,518,223 $ 107,469,192 $ 161,077,021 $ 149,158,996 $ 4,059,721 ============== ============== ============== ============== ============== Government Total Common Loan ASSETS Securities Return Stock Index Account Total - ------ -------------- -------------- -------------- -------------- -------------- Investments, at Fair Value: United States Government and Government Agency Securities $ 37,916,274 Corporate Bonds and Notes 8,098,890 Other Bonds 920,500 Common Stocks: Aon Corporation 155,385,888 Other 59,847,568 Preferred Stocks 1,457,000 Investments held in the Life of Virginia Series Funds, Inc.: Money Market Portfolio 18,516,372 Government Securities Portfolio $ 3,777,576 3,777,576 Total Return Portfolio - $ 19,848,878 19,848,878 Common Stock Index Portfolio - - $ 14,674,806 14,674,806 Other Long-Term Investments - - - 25,288 Short-Term Investments 325,368 261,175 337,187 8,778,053 -------------- -------------- -------------- -------------- -------------- 4,102,964 20,110,053 15,011,993 329,247,093 Unallocated Guaranteed Insurance Contracts, at Contract Value - - - 135,532,699 -------------- -------------- -------------- -------------- -------------- Total Investments 4,102,964 20,110,053 15,011,993 464,779,792 Receivables: Contribution Receivable from Aon Corporation 1,439,387 1,087,647 2,290,710 13,629,906 Contributions Receivable from Participants 101,717 78,926 187,516 1,006,213 Loans Receivable - - - $ 801,935 801,935 Accrued Dividends and Income 1,169 1,069 1,410 - 946,466 Due from Broker - - - - 5,732,153 Fund Transfers 39,995 90,201 139,032 - 0 -------------- -------------- -------------- -------------- -------------- Total Receivables 1,582,268 1,257,843 2,618,668 801,935 22,116,673 -------------- -------------- -------------- -------------- -------------- Total Assets 5,685,232 21,367,896 17,630,661 801,935 486,896,465 -------------- -------------- -------------- -------------- -------------- LIABILITIES - ----------- Accounts Payable and Accrued Expenses (15) 246 161 - 127,980 -------------- -------------- -------------- -------------- -------------- Net Assets Available for Plan Benefits $ 5,685,247 $ 21,367,650 $ 17,630,500 $ 801,935 $ 486,768,485 ============== ============== ============== ============== ==============
20 Schedule II Aon SAVINGS PLAN NET ASSETS AVAILABLE FOR PLAN BENEFITS BY INVESTMENT PROGRAM DECEMBER 31, 1993
Guaranteed RGH Money Market Balanced Aon Stock Contract Common Stock ASSETS Fund A Fund B Fund C Fund D Fund E - ------ ------------ ------------- ------------- ------------- ------------ Investments, at Fair Value: United States Government and Government Agency Securities $ 38,959,918 Corporate Bonds and Notes 8,999,672 Other Bonds 1,077,840 Common Stocks: Aon Corporation - $ 144,755,222 Other 51,403,952 - $ 43,129 $ 7,748,256 Preferred Stocks 2,519,500 - - Short-Term Investments $ 17,603,217 19,082,390 1,530,542 12,872,357 611,557 ------------ ------------- ------------- ------------- ----------- 17,603,217 122,043,272 146,285,764 12,915,486 8,359,813 Unallocated Guaranteed Insurance Contracts, at Contract Value - - - 113,047,429 - ------------ ------------- ------------- ------------- ----------- Total Investments 17,603,217 122,043,272 146,285,764 125,962,915 8,359,813 Receivables: Contribution Receivable from Aon Corporation 967,307 3,898,282 5,184,303 3,299,789 - Contributions Receivable from Participants 55,827 245,960 331,881 183,856 - Loans Receivable - - - - - Accrued Dividends and Income 46,614 698,534 4,814 107,825 79,743 Due from Broker - - - 14,041,460 - Fund Transfers (260,122) 150,381 200,071 122,166 (212,496) ------------ ------------- ------------- ------------- ----------- Total Receivables 809,626 4,993,157 5,721,069 17,755,096 (132,753) ------------ ------------- ------------- ------------- ----------- Total Assets 18,412,843 127,036,429 152,006,833 143,718,011 8,227,060 ------------ ------------- ------------- ------------- ----------- LIABILITIES - ----------- Accounts Payable and Accrued Expenses - - - 128,253 - ------------ ------------- ------------- ------------- ----------- Net Assets Available for Plan Benefits $ 18,412,843 $ 127,036,429 $ 152,006,833 $ 143,589,758 $ 8,227,060 ============ ============= ============= ============= =========== FBH Preferred Stock Loan ASSETS Fund F Account Total - ------ ----------- ----------- ------------- Investments, at Fair Value: United States Government and Government Agency Securities $ 38,959,918 Corporate Bonds and Notes 8,999,672 Other Bonds 1,077,840 Common Stocks: Aon Corporation 144,755,222 Other 59,195,337 Preferred Stocks 2,519,500 Short-Term Investments 51,700,063 ----------- ----------- ------------- - 307,207,552 Unallocated Guaranteed Insurance Contracts, at Contract Value 113,047,429 ----------- ----------- ------------- Total Investments - 420,254,981 Receivables: Contribution Receivable from Aon Corporation 13,349,681 Contributions Receivable from Participants 817,524 Loans Receivable $ 1,356,492 1,356,492 Accrued Dividends and Income - 937,530 Due from Broker - 14,041,460 Fund Transfers - - ----------- ----------- ------------- Total Receivables - 1,356,492 30,502,687 ----------- ----------- ------------- Total Assets - 1,356,492 450,757,668 ----------- ----------- ------------- LIABILITIES - ----------- Accounts Payable and Accrued Expenses - 128,253 ----------- ----------- ------------- Net Assets Available for Plan Benefits $ - $ 1,356,492 $ 450,629,415 =========== =========== =============
21
Schedule III Aon SAVINGS PLAN CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS BY INVESTMENT PROGRAM YEAR ENDED DECEMBER 31, 1994 Investment RGH Money Market Balanced Aon Stock Contracts Common Stock ADDITIONS Fund Fund Fund Fund Fund - --------- -------------- -------------- -------------- -------------- -------------- Investment Income: Interest and Income from Unallocated Guaranteed Insurance Contracts $ 324,553 $ 3,681,162 $ 68,220 $ 9,529,170 $ 65,051 Interest on Loan Repayments 4,097 13,938 19,518 20,217 - Aon Corporation Dividends - - 5,975,609 - - Other Dividends 513,346 1,544,193 - - 264,383 -------------- -------------- -------------- -------------- -------------- 841,996 5,239,293 6,063,347 9,549,387 329,434 Contributions: Aon Corporation 849,153 - 4,993,846 2,969,163 - ESOP Diversification 1,209 16,946 18,536 20,666 - Participants 2,664,420 8,913,228 13,431,374 11,039,069 - -------------- -------------- -------------- -------------- -------------- 3,514,782 8,930,174 18,443,756 14,028,898 - -------------- -------------- -------------- -------------- -------------- 4,356,778 14,169,467 24,507,103 23,578,285 329,434 DEDUCTIONS - ---------- Benefits Paid to Participants 1,926,041 7,731,742 9,731,736 13,120,251 593,972 Administrative Expenses 36,359 246,315 316,967 290,351 17,983 Investment Expenses 42,571 46,814 37,753 242,675 11,474 -------------- -------------- -------------- -------------- -------------- 2,004,971 8,024,871 10,086,456 13,653,277 623,429 -------------- -------------- -------------- -------------- -------------- 2,351,807 6,144,596 14,420,647 9,925,008 (293,995) Net Realized and Unrealized Appreciation (Depreciation) in Fair Value of Investments (96,974) (3,507,018) (1,386,014) 339 (2,248,945) -------------- -------------- -------------- -------------- -------------- Net Increases (Decreases) 2,254,833 2,637,578 13,034,633 9,925,347 (2,542,940) Net Assets Available for Plan Benefits at Beginning of Year 18,412,843 127,036,429 152,006,833 143,589,758 8,227,060 RGH Litigation Award 128,840 - 63,920 97,661 (403,153) Fund Transfers (1,278,293) (22,204,815) (4,028,365) (4,453,770) (1,221,246) -------------- -------------- -------------- -------------- -------------- Net Assets Available for Plan Benefits at End of Year $ 19,518,223 $ 107,469,192 $ 161,077,021 $ 149,158,996 $ 4,059,721 ============== ============== ============== ============== ==============
Government Total Common Securities Return Stock Index Loan ADDITIONS Fund Fund Fund Account Total - --------- -------------- -------------- -------------- -------------- -------------- Investment Income: Interest and Income from Unallocated Guaranteed Insurance Contracts $ 7,574 $ 11,569 $ 10,574 $ 13,697,873 Interest on Loan Repayments 4,896 3,856 6,842 73,364 Aon Corporation Dividends - - - 5,975,609 Other Dividends 159,777 754,895 238,767 3,475,361 -------------- -------------- -------------- -------------- -------------- 172,247 770,320 256,183 23,222,207 Contributions: Aon Corporation 1,439,387 1,087,647 2,290,710 13,629,906 ESOP Diversification - - - 57,357 Participants 1,452,121 1,627,744 2,514,400 41,642,356 -------------- -------------- -------------- -------------- -------------- 2,891,508 2,715,391 4,805,110 55,329,619 -------------- -------------- -------------- -------------- -------------- 3,063,755 3,485,711 5,061,293 78,551,826 DEDUCTIONS - ---------- Benefits Paid to Participants 49,942 249,535 298,214 $ 53,095 33,754,528 Administrative Expenses 9,228 14,547 3,968 - 935,718 Investment Expenses 1,666 1,934 1,833 - 386,720 -------------- -------------- -------------- -------------- -------------- 60,836 266,016 304,015 53,095 35,076,966 -------------- -------------- -------------- -------------- -------------- 3,002,919 3,219,695 4,757,278 (53,095) 43,474,860 Net Realized and Unrealized Appreciation (Depreciation) in Fair Value of Investments (152,200) (106,017) 161,039 - (7,335,790) -------------- -------------- -------------- -------------- -------------- Net Increases (Decreases) 2,850,719 3,113,678 4,918,317 (53,095) 36,139,070 Net Assets Available for Plan Benefits at Beginning of Year - - - 1,356,492 450,629,415 RGH Litigation Award 34,298 28,549 49,885 - - Fund Transfers 2,800,230 18,225,423 12,662,298 (501,462) - -------------- -------------- -------------- -------------- -------------- Net Assets Available for Plan Benefits at End of Year $ 5,685,247 $ 21,367,650 $ 17,630,500 $ 801,935 $ 486,768,485 ============== ============== ============== ============== ==============
22 Schedule III Aon SAVINGS PLAN CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS BY INVESTMENT PROGRAM YEAR ENDED DECEMBER 31, 1993
Guaranteed Money Market Balanced Aon Stock Contract ADDITIONS Fund A Fund B Fund C Fund D - --------- -------------- -------------- -------------- -------------- Investment Income: Interest and Income from Unallocated Guaranteed Insurance Contracts $ 590,935 $ 3,801,810 $ 75,270 $ 10,882,007 Interest on Loan Repayments 7,873 31,616 28,681 35,058 Aon Corporation Dividends - - 5,052,783 - Other Dividends - 1,246,029 - - -------------- -------------- -------------- -------------- 598,808 5,079,455 5,156,734 10,917,065 Contributions: Aon Corporation 967,307 3,898,283 5,184,303 3,299,788 ESOP Diversification 2,065 9,103 14,899 11,867 Participants 1,748,569 7,728,219 10,500,525 6,523,384 -------------- -------------- -------------- -------------- 2,717,941 11,635,605 15,699,727 9,835,039 -------------- -------------- -------------- -------------- 3,316,749 16,715,060 20,856,461 20,752,104 DEDUCTIONS - ---------- Benefits Paid to Participants 2,666,099 7,135,791 10,114,971 18,244,530 Administrative Expenses 34,102 188,251 275,372 255,811 Investment Expenses 48,563 42,813 36,329 389,110 -------------- -------------- -------------- -------------- 2,748,764 7,366,855 10,426,672 18,889,451 -------------- -------------- -------------- -------------- 567,985 9,348,205 10,429,789 1,862,653 Net Realized and Unrealized Appreciation (Depreciation) in Fair Value of Investments - 9,067,099 (16,423,437) 1,782 -------------- -------------- -------------- -------------- Net Increases (Decreases) 567,985 18,415,304 (5,993,648) 1,864,435 Net Assets Available for Plan Benefits at Beginning of Year 15,843,895 85,760,334 138,034,639 114,543,228 Plan Mergers 4,122,920 18,744,638 9,836,227 32,764,908 Share Redemption/Conversion 36,314 47,578 17,397 93,315 Fund Transfers (2,158,271) 4,068,575 10,112,218 (5,676,128) -------------- -------------- -------------- -------------- Net Assets Available for Plan Benefits at End of Year $ 18,412,843 $ 127,036,429 $ 152,006,833 $ 143,589,758 ============== ============== ============== ==============
RGH FBH Common Stock Preferred Stock Loan ADDITIONS Fund E Fund F Account Total - --------- -------------- -------------- -------------- -------------- Investment Income: Interest and Income from Unallocated Guaranteed Insurance Contracts $ 30,369 $ 13 $ 15,380,404 Interest on Loan Repayments 103,228 Aon Corporation Dividends - - 5,052,783 Other Dividends 374,939 - 1,620,968 -------------- -------------- -------------- -------------- 405,308 13 22,157,383 Contributions: Aon Corporation - - 13,349,681 ESOP Diversification - - 37,934 Participants - - 26,500,697 -------------- -------------- -------------- -------------- - - 39,888,312 -------------- -------------- -------------- -------------- 405,308 13 62,045,695 DEDUCTIONS - ---------- Benefits Paid to Participants 1,404,476 - $ 262,874 39,828,741 Administrative Expenses 11,068 - - 764,604 Investment Expenses 10,881 - - 527,696 -------------- -------------- -------------- -------------- 1,426,425 - 262,874 41,121,041 -------------- -------------- -------------- -------------- (1,021,117) 13 (262,874) 20,924,654 Net Realized and Unrealized Appreciation (Depreciation) in Fair Value of Investments 2,188,066 41,779 - (5,124,711) -------------- -------------- -------------- -------------- Net Increases (Decreases) 1,166,949 41,792 (262,874) 15,799,943 Net Assets Available for Plan Benefits at Beginning of Year - - - 354,182,096 Plan Mergers 12,624,456 200,497 2,353,730 80,647,376 Share Redemption/Conversion 47,685 (242,289) - Fund Transfers (5,612,030) - (734,364) - -------------- -------------- -------------- -------------- Net Assets Available for Plan Benefits at End of Year $ 8,227,060 $ - $ 1,356,492 $ 450,629,415 ============== ============== ============== ==============
23 Schedule IV Aon SAVINGS PLAN TRANSACTIONS OR SERIES OF TRANSACTIONS IN EXCESS OF 5% OF THE CURRENT VALUE OF PLAN ASSETS For the Year Ended December 31, 1994 The following schedule represents the 5% reportable transactions for the year ended December 31, 1994 of the Aon Savings Plan. This summary is intended to satisfy the disclosure requirements set forth in Sections 2520.103-6 of the Department of Labor Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. 24 Schedule IV Aon SAVINGS PLAN SCHEDULE OF TRANSACTIONS OR SERIES OF TRANSACTIONS IN EXCESS OF 5% OF THE CURRENT VALUE OF PLAN ASSETS For the Year Ended December 31, 1994
Current Value Cost of of Asset at Net Asset Transaction Date Gain ------------------ ------------------ ------------------ Short-Term Investment Fund, Collective Trust Funds of The Northern Trust Company $65,099,221 increases on 161 days $ 65,099,221 $ 65,099,221 - $90,756,470 decreases on 126 days 90,756,470 90,756,470 - $62,687,244 increases on 345 days 62,691,259 62,691,259 - $79,956,232 decreases on 176 days 79,956,232 79,956,232 - ------------------ ------------------ $ 298,503,182 - ================== ==================
25 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Plan, by the Plan Administrator, the Committee, has caused this annual report to be signed on its behalf by the undesigned, thereunto duly authorized, in the County of Cook and the State of Illinois on the 15th day of June, 1995. Aon SAVINGS PLAN BY THE COMMITTEE /s/ Virginia G. Schooley - ---------------------------------- Virginia G. Schooley /s/ E.J. Finneran /s/ Paul I. Rabin - ---------------------------------- ---------------------------------- E.J. Finneran Paul I. Rabin /s/ Robert S. Hurwitz /s/ John A. Reschke - ---------------------------------- ---------------------------------- Robert S. Hurwitz John A. Reschke EX-23.A 2 CONSENT OF ERNST & YOUNG Exhibit 23(a) ------------- CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS We consent to the incorporation by reference in the Registration Statement (Form S-8 No. 33-27894) pertaining to the Aon Savings Plan of Aon Corporation of our report dated June 9, 1995 with respect to the financial statements and schedules of the Aon Savings Plan included in this Annual Report (Form 11-K) for the year ended December 31, 1994. /s/ Ernst & Young LLP ERNST & YOUNG LLP Chicago, Illinois June 16, 1995 -----END PRIVACY-ENHANCED MESSAGE-----