-----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, ApMHKLnQ61fVOqil/fBhPzNmUyQQrshFi3Etk0BpqbfD6Otj8sSk0h/3/YX1DoBm u106AibnIn3KsugvcHCpZg== 0001047469-03-016468.txt : 20030502 0001047469-03-016468.hdr.sgml : 20030502 20030502143920 ACCESSION NUMBER: 0001047469-03-016468 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 20030502 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030502 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: 03679327 BUSINESS ADDRESS: STREET 1: 200 EAST RANDLOPH 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 a2110128z8-k.htm 8-K
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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): May 2, 2003

Aon CORPORATION
(Exact name of Registrant as Specified in Its 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)


Item 9.    Regulation FD Disclosure.

        The information required by Item 12. Results of Operation and Financial Condition is being provided under Item 9 pursuant to SEC guidance provided in SEC Release No. 33-8216.

        The information in this Form 8-K and the Exhibits attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

Highlights

        Starting first quarter 2003, Aon will be providing an updated presentation for its segment disclosure as follows:

I.
One Segment Has Been Renamed and Some Segments Will Be Modified Slightly To Reclassify Certain Business Units Between Segments

•
The Insurance Brokerage and Other Services segment has been renamed the Risk and Insurance Brokerage Services segment

•
The business units below will be reclassified among segments as follows:

•
Certain administration and marketing services relating to our insurance underwriting operations, previously included in the Risk and Insurance Brokerage Services segment, will be reclassified into the Insurance Underwriting segment.

•
Auto financing business, previously included in the Risk and Insurance Brokerage Services segment, will be reclassified into the Corporate and Other segment. Aon has decided to wind down the existing service obligation for this business, which is expected to be substantially finished by the end of 2004.
•
No changes or restatements have been made to prior period earnings per share or financials statements (income statement, balance sheet, or cash flow statement) as reported under accounting principles generally accepted in the United States (GAAP) as a result of the segment modifications.

•
For the segment disclosure only, three of the segments will have reclassified revenue, pretax income, pretax margins and organic revenue growth as shown in the attached schedules.

II.
Enhanced Revenue Information Will Be Provided Within Segments

        Schedules showing the reclassified segment revenue detail are attached for the previous eight quarters

        This information is being furnished to assist investors in making accurate comparisons of the Company's historical 2002 and 2001 financial information with the new presentation starting with first quarter 2003.

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 thereunto duly authorized.

    Aon CORPORATION

 
 
By:
/s/  PATRICK G. RYAN      
Patrick G. Ryan
 Chairman and Chief Executive Officer

Date: May 2, 2003

3


EXHIBIT INDEX

        The following is a list of the exhibits filed herewith.

Exhibit
Number
   Description of Exhibit

99.1
 
Reclassified Segment Information for: (i) the quarters ended March 31, June 30, September 30 and December 31, 2002; (ii) the quarters ended March 31, June 30, September 30 and December 31, 2001; and (iii) the years ended December 31, 2002 and 2001.

99.2
 
Additional Revenue Information for: (i) the quarters ended March 31, June 30, September 30 and December 31, 2002; (ii) the quarters ended March 31, June 30, September 30 and December 31, 2001; and (iii) the years ended December 31, 2002 and 2001.

99.3
 
Various Segment Information—After Reclassification for: (i) the quarters ended March 31, June 30, September 30 and December 31, 2002; (ii) the quarters ended March 31, June 30, September 30 and December 31, 2001; and (iii) the years ended December 31, 2002 and 2001.

99.4
 
Reclassified Segment Information—Excluding Previously Reported Special & Unusual Charges for: (i) the quarters ended March 31, June 30, September 30 and December 31, 2002; (ii) the quarters ended March 31, June 30, September 30 and December 31, 2001; and (iii) the years ended December 31, 2002 and 2001.

4



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SIGNATURES
EXHIBIT INDEX
 EX-99.1 3 a2110128zex-99_1.htm EX-99.1
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Exhibit 99.1


AON CORPORATION
SEGMENT RECLASSIFICATION

 
   2002
  
(millions)

   1st Qtr.
   2nd Qtr.
   3rd Qtr.
   4th Qtr.
   Full Year
  
REVENUE                                
  Risk & Insurance Brokerage Services—as reported   $ 1,232   $ 1,292   $ 1,323   $ 1,416   $ 5,263  
    Less: Administrative and marketing services     (71 )   (73 )   (72 )   (59 )   (275 )
    Less: Auto Finance     (4 )   (4 )   (4 )   (3 )   (15 )
   
 
 
 
 
 
    As Reclassified     1,157     1,215     1,247     1,354     4,973  
 
Consulting
 
 
233
 
 
248
 
 
269
 
 
304
 
 
1,054
 
 
Insurance Underwriting—as reported
 
 
578
 
 
677
 
 
646
 
 
625
 
 
2,526
 
    Plus: Administrative and marketing services     71     73     72     59     275  
   
 
 
 
 
 
    As Reclassified     649     750     718     684     2,801  
 
Corporate & Other—as reported
 
 
45
 
 
(95
)
 
8
 
 
21
 
 
(21
)
    Plus: Auto Finance     4     4     4     3     15  
   
 
 
 
 
 
    As Reclassified     49     (91 )   12     24     (6 )
   
 
 
 
 
 
    Total Revenue   $ 2,088   $ 2,122   $ 2,246   $ 2,366   $ 8,822  
   
 
 
 
 
 
INCOME (LOSS) BEFORE INCOME TAXES                                
  Risk & Insurance Brokerage Services-as reported   $ 187   $ 142   $ 201   $ 233   $ 763  
    Less: Administrative and marketing services     (4 )   (4 )   —     5     (3 )
    Less: Auto Finance     6     6     8     11     31  
   
 
 
 
 
 
    As Reclassified     189     144     209     249     791  
 
Consulting
 
 
27
 
 
23
 
 
26
 
 
44
 
 
120
 
 
Insurance Underwriting—as reported
 
 
64
 
 
(2
)
 
41
 
 
49
 
 
152
 
    Plus: Administrative and marketing services     4     4     —     (5 )   3  
   
 
 
 
 
 
    As Reclassified     68     2     41     44     155  
 
Corporate & Other—as reported
 
 
(7
)
 
(147
)
 
(51
)
 
(37
)
 
(242
)
    Plus: Auto Finance     (6 )   (6 )   (8 )   (11 )   (31 )
   
 
 
 
 
 
    As Reclassified     (13 )   (153 )   (59 )   (48 )   (273 )
   
 
 
 
 
 
  Total Income Before Income Taxes   $ 271   $ 16   $ 217   $ 289   $ 793  
   
 
 
 
 
 


AON CORPORATION
SEGMENT RECLASSIFICATION

 
   2001
  
(millions)

   1st Qtr.
   2nd Qtr.
   3rd Qtr.
   4th Qtr.
   Full Year
  
REVENUE                                
  Risk & Insurance Brokerage Services—as reported   $ 1,117   $ 1,154   $ 1,112   $ 1,276   $ 4,659  
    Less: Administrative and marketing services     (61 )   (61 )   (76 )   (73 )   (271 )
    Less: Auto Finance     (4 )   (10 )   (6 )   (5 )   (25 )
   
 
 
 
 
 
    As Reclassified     1,052     1,083     1,030     1,198     4,363  
 
Consulting
 
 
212
 
 
229
 
 
232
 
 
265
 
 
938
 
 
Insurance Underwriting—as reported
 
 
567
 
 
548
 
 
565
 
 
570
 
 
2,250
 
    Plus: Administrative and marketing services     61     61     76     73     271  
   
 
 
 
 
 
    As Reclassified     628     609     641     643     2,521  
 
Corporate & Other—as reported
 
 
(85
)
 
(14
)
 
3
 
 
(75
)
 
(171
)
    Plus: Auto Finance     4     10     6     5     25  
   
 
 
 
 
 
    As Reclassified     (81 )   (4 )   9     (70 )   (146 )
   
 
 
 
 
 
  Total Revenue   $ 1,811   $ 1,917   $ 1,912   $ 2,036   $ 7,676  
   
 
 
 
 
 
INCOME (LOSS) BEFORE INCOME TAXES                                
  Risk & Insurance Brokerage Services—as reported   $ 126   $ 78   $ 145   $ 175   $ 524  
    Less: Administrative and marketing services     (1 )   (4 )   (10 )   (3 )   (18 )
    Less: Auto Finance     41     5     7     6     59  
   
 
 
 
 
 
    As Reclassified     166     79     142     178     565  
 
Consulting
 
 
24
 
 
24
 
 
29
 
 
49
 
 
126
 
 
Insurance Underwriting—as reported
 
 
67
 
 
56
 
 
35
 
 
(8
)
 
150
 
    Plus: Administrative and marketing services     1     4     10     3     18  
   
 
 
 
 
 
    As Reclassified     68     60     45     (5 )   168  
 
Corporate & Other—as reported
 
 
(169
)
 
(94
)
 
(76
)
 
(152
)
 
(491
)
    Plus: Auto Finance     (41 )   (5 )   (7 )   (6 )   (59 )
   
 
 
 
 
 
    As Reclassified     (210 )   (99 )   (83 )   (158 )   (550 )
   
 
 
 
 
 
    Total Income Before Income Taxes   $ 48   $ 64   $ 133   $ 64   $ 309  
   
 
 
 
 
 


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AON CORPORATION SEGMENT RECLASSIFICATION
AON CORPORATION SEGMENT RECLASSIFICATION
 EX-99.2 4 a2110128zex-99_2.htm EX-99.2
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Exhibit 99.2


AON CORPORATION
ADDITIONAL REVENUE INFORMATION

 
   2002
  
(millions)

   1st Qtr.
   2nd Qtr.
   3rd Qtr.
   4th Qtr.
   Full Year
  
REVENUE                                
Risk & Insurance Brokerage Services:                                
  Risk Management & Insurance Brokerage—Americas   $ 448   $ 517   $ 534   $ 607   $ 2,106  
  Risk Management & Insurance Brokerage—International     420     413     403     459     1,695  
  Reinsurance—Brokerage & Related Services     199     192     210     189     790  
  Claims Services     90     93     100     99     382  
   
 
 
 
 
 
    Total Risk & Insurance Brokerage Services     1,157     1,215     1,247     1,354     4,973  

Consulting:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Benefits, Compensation, Management & Communications Consulting     183     194     193     226     796  
  Human Resources Consulting     50     54     76     78     258  
   
 
 
 
 
 
    Total Consulting     233     248     269     304     1,054  

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:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Auto Finance     4     4     4     3     15  
  Corporate     45     (95 )   8     21     (21 )
   
 
 
 
 
 
    Total Corporate & Other     49     (91 )   12     24     (6 )
   
 
 
 
 
 
    Total Aon Corporation   $ 2,088   $ 2,122   $ 2,246   $ 2,366   $ 8,822  
   
 
 
 
 
 

 
 
2001
 
(millions)

   1st Qtr.
   2nd Qtr.
   3rd Qtr.
   4th Qtr.
   Full Year
  
REVENUE                                
Risk & Insurance Brokerage Services:                                
  Risk Management & Insurance Brokerage—Americas   $ 423   $ 480   $ 441   $ 576   $ 1,920  
  Risk Management & Insurance Brokerage—International     375     342     322     374     1,413  
  Reinsurance—Brokerage & Related Services     175     171     174     148     668  
  Claims Services     79     90     93     100     362  
   
 
 
 
 
 
    Total Risk & Insurance Brokerage Services     1,052     1,083     1,030     1,198     4,363  

Consulting:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Benefits, Compensation, Management & Communications Consulting     169     181     180     210     740  
  Human Resources Consulting     43     48     52     55     198  
   
 
 
 
 
 
    Total Consulting     212     229     232     265     938  

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:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Auto Finance     4     10     6     5     25  
  Corporate     (85 )   (14 )   3     (75 )   (171 )
   
 
 
 
 
 
    Total Corporate & Other     (81 )   (4 )   9     (70 )   (146 )
   
 
 
 
 
 
    Total Aon Corporation   $ 1,811   $ 1,917   $ 1,912   $ 2,036   $ 7,676  
   
 
 
 
 
 


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AON CORPORATION ADDITIONAL REVENUE INFORMATION
 EX-99.3 5 a2110128zex-99_3.htm EX-99.3
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Exhibit 99.3


AON CORPORATION
VARIOUS SEGMENT INFORMATION—AFTER RECLASSIFICATION

 
   2002
  
(millions)

   1st Qtr.
   2nd Qtr.
   3rd Qtr.
   4th Qtr.
   Full Year
  
REVENUE                                
  Risk & Insurance Brokerage Services   $ 1,157   $ 1,215   $ 1,247   $ 1,354   $ 4,973  
  Consulting     233     248     269     304     1,054  
  Insurance Underwriting     649     750     718     684     2,801  
  Corporate & Other     49     (91 )   12     24     (6 )
   
 
 
 
 
 
    Total Revenue   $ 2,088   $ 2,122   $ 2,246   $ 2,366   $ 8,822  
   
 
 
 
 
 

INCOME (LOSS) BEFORE INCOME TAXES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Risk & Insurance Brokerage Services   $ 189   $ 144   $ 209   $ 249   $ 791  
  Consulting     27     23     26     44     120  
  Insurance Underwriting     68     2     41     44     155  
  Corporate & Other     (13 )   (153 )   (59 )   (48 )   (273 )
   
 
 
 
 
 
    Total Income Before Income Taxes   $ 271   $ 16   $ 217   $ 289   $ 793  
   
 
 
 
 
 

INCOME BEFORE INCOME TAXES—MARGINS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Risk & Insurance Brokerage Services     16.3 %   11.9 %   16.8 %   18.4 %   15.9 %
  Consulting     11.6 %   9.3 %   9.7 %   14.5 %   11.4 %
  Insurance Underwriting     10.5 %   0.3 %   5.7 %   6.4 %   5.5 %
    Total Income Before Income Taxes—Margins     13.0 %   0.8 %   9.7 %   12.2 %   9.0 %

ORGANIC REVENUE GROWTH
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Risk & Insurance Brokerage Services     13 %   10 %   21 %   10 %   13 %
  Consulting     4 %   6 %   14 %   12 %   9 %
  Insurance Underwriting     17 %   23 %   7 %   4 %   11 %
    Total Organic Revenue Growth     14 %   14 %   15 %   9 %   12 %

 
 
2001
 
 
   1st Qtr.
   2nd Qtr.
   3rd Qtr.
   4th Qtr.
   Full Year
  
REVENUE                                
  Risk & Insurance Brokerage Services   $ 1,052   $ 1,083   $ 1,030   $ 1,198   $ 4,363  
  Consulting     212     229     232     265     938  
  Insurance Underwriting     628     609     641     643     2,521  
  Corporate & Other     (81 )   (4 )   9     (70 )   (146 )
   
 
 
 
 
 
    Total Revenue   $ 1,811   $ 1,917   $ 1,912   $ 2,036   $ 7,676  
   
 
 
 
 
 

INCOME (LOSS) BEFORE INCOME TAXES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Risk & Insurance Brokerage Services   $ 166   $ 79   $ 142   $ 178   $ 565  
  Consulting     24     24     29     49     126  
  Insurance Underwriting     68     60     45     (5 )   168  
  Corporate & Other     (210 )   (99 )   (83 )   (158 )   (550 )
   
 
 
 
 
 
    Total Income Before Income Taxes   $ 48   $ 64   $ 133   $ 64   $ 309  
   
 
 
 
 
 

INCOME (LOSS) BEFORE INCOME TAXES—MARGINS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Risk & Insurance Brokerage Services     15.8 %   7.3 %   13.8 %   14.9 %   12.9 %
  Consulting     11.3 %   10.5 %   12.5 %   18.5 %   13.4 %
  Insurance Underwriting     10.8 %   9.9 %   7.0 %   -0.8 %   6.7 %
  Total Income Before Income Taxes—Margins     2.7 %   3.3 %   7.0 %   3.1 %   4.0 %

ORGANIC REVENUE GROWTH
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Risk & Insurance Brokerage Services     8 %   12 %   6 %   9 %   9 %
  Consulting     8 %   9 %   4 %   7 %   7 %
  Insurance Underwriting     5 %   1 %   8 %   8 %   5 %
    Total Organic Revenue Growth     7 %   8 %   7 %   9 %   8 %


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AON CORPORATION VARIOUS SEGMENT INFORMATION—AFTER RECLASSIFICATION
 EX-99.4 6 a2110128zex-99_4.htm EX-99.4
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Exhibit 99.4

AON CORPORATION
SEGMENTS AS RECLASSIFIED—EXCLUDING PREVIOUSLY REPORTED SPECIAL & UNUSUAL CHARGES

 
   2002
  
(millions)

   1st Qtr.
   2nd Qtr.
   3rd Qtr.
   4th Qtr.
   Full Year
  
REVENUE                                
  Risk & Insurance Brokerage Services   $ 1,157   $ 1,215   $ 1,247   $ 1,354   $ 4,973  
  Consulting     233     248     269     304     1,054  
  Insurance Underwriting     649     750     718     684     2,801  
  Corporate & Other     49     (91 )   12     24     (6 )
   
 
 
 
 
 
    Total Revenue   $ 2,088   $ 2,122   $ 2,246   $ 2,366   $ 8,822  
   
 
 
 
 
 

INCOME (LOSS) BEFORE INCOME TAXES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Risk & Insurance Brokerage Services   $ 189   $ 138   $ 191   $ 238   $ 756  
  Consulting     27     23     26     44     120  
  Insurance Underwriting     73     5     41     44     163  
  Corporate & Other     (13 )   (153 )   (59 )   (48 )   (273 )
   
 
 
 
 
 
    Total Income Before Income Taxes   $ 276   $ 13   $ 199   $ 278   $ 766  
   
 
 
 
 
 

AON CORPORATION
SEGMENTS AS RECLASSIFIED—EXCLUDING PREVIOUSLY REPORTED SPECIAL & UNUSUAL CHARGES

 
   2001
  
(millions)

   1st Qtr.
   2nd Qtr.
   3rd Qtr.
   4th Qtr.
   Full Year
  
REVENUE                                
  Risk & Insurance Brokerage Services   $ 1,052   $ 1,083   $ 1,030   $ 1,198   $ 4,363  
  Consulting     212     229     232     265     938  
  Insurance Underwriting     628     609     641     643     2,521  
  Corporate & Other     (81 )   (4 )   9     (70 )   (146 )
   
 
 
 
 
 
    Total Revenue   $ 1,811   $ 1,917   $ 1,912   $ 2,036   $ 7,676  
   
 
 
 
 
 

INCOME (LOSS) BEFORE INCOME TAXES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Risk & Insurance Brokerage Services   $ 198   $ 190   $ 150   $ 193   $ 731  
  Consulting     25     30     29     49     133  
  Insurance Underwriting     69     83     90     85     327  
  Corporate & Other     (172 )   (93 )   (83 )   (158 )   (506 )
   
 
 
 
 
 
    Total Income Before Income Taxes   $ 120   $ 210   $ 186   $ 169   $ 685  
   
 
 
 
 
 


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