-----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, DbjKqckvc3arKYdBrM6rLUzzK6y2KmHhFJrYkqzT4v8O4VXF/K7alE/I+HRJ8CU5 tz94lQqY6H1z8udT+5rzqg== 0001104659-04-016817.txt : 20040614 0001104659-04-016817.hdr.sgml : 20040611 20040614152928 ACCESSION NUMBER: 0001104659-04-016817 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20040614 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20040614 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: 04861382 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 a04-6847_18k.htm 8-K

 

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): June 14, 2004

 

 

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)

 

 

 

Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.

 

(a)—(b)

 

Not applicable.

 

 

 

(c)

 

Exhibits:

 

The following exhibits are furnished as part of this report:

 

Exhibit
Number

 

Description of Exhibit

99.1

 

Consolidated Summary of Operations – Reclassified for Discontinued Operations for  (i) the quarters ended March 31, June 30, September 30 and December 31, 2003, 2002, 2001 and 2000 and  (ii) the years ended December 31, 2003, 2002, 2001 and 2000.

 

 

 

99.2

 

Segments-Reclassified for Discontinued Operations for  (i) the quarters ended March 31, June 30, September 30 and December 31, 2003, 2002, 2001 and 2000 and  (ii) the years ended December 31, 2003, 2002, 2001 and 2000.

 

Item 9.  Regulation FD Disclosure.

 

On May 4, 2004, a Current Report on Form 8-K (the “May 4 Form 8-K”) was filed in conjunction with the release of first quarter 2004 financial results that included a quarterly and full year consolidated summary of operations for the year ended December 31, 2003, reclassified for discontinued operations.  This Form 8-K filing supplements the May 4 Form 8-K by adding reclassified information for each quarter as well as full years ended December 31, 2002, 2001 and 2000, and is attached as Exhibit 99.1.

 

The May 4 Form 8-K also included segment information reclassified for discontinued operations for each quarter and full year ended December 31, 2003. This Form 8-K filing supplements the May 4 Form 8-K by adding reclassified information for each quarter as well as full years ended December 31, 2002, 2001 and 2000, and is attached as Exhibit 99.2.

 

This supplemental information is being furnished to assist investors in analyzing the Company’s historical 2003, 2002, 2001 and 2000 financial information compared to the first quarter 2004 presentation.

 

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 and Chief Financial Officer

 

 

 

 

Date: June 14, 2004

 

 

 

 

2

 

EXHIBIT INDEX

 

The following is a list of the exhibits furnished with this Current Report on Form 8-K.

 

Exhibit
Number

 

Description of Exhibit

99.1

 

Consolidated Summary of Operations – Reclassified for Discontinued Operations for  (i) the quarters ended March 31, June 30, September 30 and December 31, 2003, 2002, 2001 and 2000 and  (ii) the years ended December 31, 2003, 2002, 2001 and 2000.

 

 

 

 

 

 

99.2

 

Segments-Reclassified for Discontinued Operations for  (i) the quarters ended March 31, June 30, September 30 and December 31, 2003, 2002, 2001 and 2000 and  (ii) the years ended December 31, 2003, 2002, 2001 and 2000.

 

3

 EX-99.1 2 a04-6847_1ex99d1.htm EX-99.1

Exhibit 99.1

 

Aon Corporation

Consolidated Summary of Operations - - Reclassified for Discontinued Operations

 

 

 

2003

 

(millions except per share data)

 

1st
Quarter

 

2nd
Quarter

 

3rd
Quarter

 

4th
Quarter

 

Full Year

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

Brokerage commissions and fees

 

$

1,658

 

$

1,695

 

$

1,646

 

$

1,831

 

$

6,830

 

Premiums and other

 

632

 

635

 

673

 

669

 

2,609

 

Investment income

 

79

 

89

 

57

 

88

 

313

 

Total revenue

 

2,369

 

2,419

 

2,376

 

2,588

 

9,752

 

 

 

 

 

 

 

 

 

 

 

 

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

General expenses

 

1,678

 

1,783

 

1,725

 

1,857

 

7,043

 

Benefits to policyholders

 

345

 

325

 

367

 

390

 

1,427

 

Interest expense

 

28

 

27

 

24

 

22

 

101

 

Amortization of intangible assets

 

13

 

15

 

18

 

17

 

63

 

Unusual charges (credits) - World Trade Center

 

37

 

9

 

—

 

(60

)

(14

)

Total expenses

 

2,101

 

2,159

 

2,134

 

2,226

 

8,620

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income tax and minority interest

 

268

 

260

 

242

 

362

 

1,132

 

Provision for income tax

 

99

 

96

 

90

 

134

 

419

 

Income from continuing operations before minority interest

 

169

 

164

 

152

 

228

 

713

 

Minority interest - 8.205% trust preferred capital securities

 

(9

)

(9

)

(9

)

(9

)

(36

)

Income from continuing operations

 

160

 

155

 

143

 

219

 

677

 

 

 

 

 

 

 

 

 

 

 

 

 

Discontinued operations

 

 

 

 

 

 

 

 

 

 

 

Loss from discontinued operations

 

(12

)

(15

)

(44

)

(6

)

(77

)

Income tax benefit

 

(4

)

(6

)

(16

)

(2

)

(28

)

Loss from discontinued operations, net of tax

 

(8

)

(9

)

(28

)

(4

)

(49

)

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

0.49

 

$

0.45

 

$

0.68

 

$

2.12

 

Discontinued operations

 

(0.03

)

(0.03

)

(0.09

)

(0.01

)

(0.15

)

Net income

 

$

0.48

 

$

0.46

 

$

0.36

 

$

0.67

 

$

1.97

 

 

 

 

 

 

 

 

 

 

 

 

 

Dilutive net income per share:

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

0.51

 

$

0.49

 

$

0.45

 

$

0.68

 

$

2.12

 

Discontinued operations

 

(0.03

)

(0.03

)

(0.09

)

(0.01

)

(0.15

)

Net income

 

$

0.48

 

$

0.46

 

$

0.36

 

$

0.67

 

$

1.97

 

 

 

 

 

 

 

 

 

 

 

 

 

Dilutive average common and common equivalent shares outstanding

 

315.2

 

318.2

 

318.6

 

319.3

 

317.8

 

 

 

 

 

2002

 

(millions except per share data)

 

1st
Quarter

 

2nd
Quarter

 

3rd
Quarter

 

4th
Quarter

 

Full Year

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

Brokerage commissions and fees

 

$

1,425

 

$

1,491

 

$

1,532

 

$

1,678

 

$

6,126

 

Premiums and other

 

535

 

638

 

607

 

588

 

2,368

 

Investment income (loss)

 

109

 

(26

)

88

 

81

 

252

 

Total revenue

 

2,069

 

2,103

 

2,227

 

2,347

 

8,746

 

 

 

 

 

 

 

 

 

 

 

 

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

General expenses

 

1,435

 

1,643

 

1,621

 

1,683

 

6,382

 

Benefits to policyholders

 

314

 

391

 

350

 

320

 

1,375

 

Interest expense

 

29

 

30

 

32

 

33

 

124

 

Amortization of intangible assets

 

11

 

14

 

13

 

16

 

54

 

Unusual credits - World Trade Center

 

—

 

—

 

(18

)

(11

)

(29

)

Total expenses

 

1,789

 

2,078

 

1,998

 

2,041

 

7,906

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income tax and minority interest

 

280

 

25

 

229

 

306

 

840

 

Provision for income tax

 

104

 

9

 

84

 

113

 

310

 

Income from continuing operations before minority interest

 

176

 

16

 

145

 

193

 

530

 

Minority interest - 8.205% trust preferred capital securities

 

(10

)

(10

)

(10

)

(4

)

(34

)

Income from continuing operations

 

166

 

6

 

135

 

189

 

496

 

 

 

 

 

 

 

 

 

 

 

 

 

Discontinued operations

 

 

 

 

 

 

 

 

 

 

 

Loss from discontinued operations

 

(9

)

(9

)

(12

)

(17

)

(47

)

Income tax benefit

 

(3

)

(3

)

(5

)

(6

)

(17

)

Loss from discontinued operations, net of tax

 

(6

)

(6

)

(7

)

(11

)

(30

)

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

0.60

 

$

0.02

 

$

0.49

 

$

0.63

 

$

1.76

 

Discontinued operations

 

(0.02

)

(0.02

)

(0.03

)

(0.04

)

(0.11

)

Net income

 

$

0.58

 

$

—

 

$

0.46

 

$

0.59

 

$

1.65

 

 

 

 

 

 

 

 

 

 

 

 

 

Dilutive net income per share:

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

0.59

 

$

0.02

 

$

0.49

 

$

0.63

 

$

1.75

 

Discontinued operations

 

(0.02

)

(0.02

)

(0.03

)

(0.04

)

(0.11

)

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

 

$

1,277

 

$

1,336

 

$

1,289

 

$

1,504

 

$

5,406

 

Premiums and other

 

508

 

492

 

510

 

517

 

2,027

 

Investment income

 

22

 

78

 

105

 

8

 

213

 

Total revenue

 

1,807

 

1,906

 

1,904

 

2,029

 

7,646

 

 

 

 

 

 

 

 

 

 

 

 

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

General expenses

 

1,351

 

1,507

 

1,369

 

1,496

 

5,723

 

Benefits to policyholders

 

292

 

260

 

271

 

288

 

1,111

 

Interest expense

 

36

 

31

 

31

 

29

 

127

 

Amortization of intangible assets

 

39

 

39

 

40

 

40

 

158

 

Unusual charges -World Trade Center

 

—

 

—

 

53

 

105

 

158

 

Total expenses

 

1,718

 

1,837

 

1,764

 

1,958

 

7,277

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income tax and minority interest

 

89

 

69

 

140

 

71

 

369

 

Provision for income tax

 

35

 

27

 

54

 

30

 

146

 

Income from continuing operations before minority interest

 

54

 

42

 

86

 

41

 

223

 

Minority interest - 8.205% trust preferred capital securities

 

(10

)

(10

)

(10

)

(10

)

(40

)

Income from continuing operations

 

44

 

32

 

76

 

31

 

183

 

 

 

 

 

 

 

 

 

 

 

 

 

Discontinued operations

 

 

 

 

 

 

 

 

 

 

 

Loss from discontinued operations

 

(41

)

(5

)

(7

)

(7

)

(60

)

Income tax benefit

 

(16

)

(2

)

(3

)

(3

)

(24

)

Loss from discontinued operations, net of tax

 

(25

)

(3

)

(4

)

(4

)

(36

)

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

0.16

 

$

0.12

 

$

0.27

 

$

0.11

 

$

0.67

 

Discontinued operations

 

(0.09

)

(0.01

)

(0.01

)

(0.01

)

(0.13

)

Net income

 

$

0.07

 

$

0.11

 

$

0.26

 

$

0.10

 

$

0.54

 

 

 

 

 

 

 

 

 

 

 

 

 

Dilutive net income per share:

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

0.16

 

$

0.12

 

$

0.27

 

$

0.11

 

$

0.66

 

Discontinued operations

 

(0.09

)

(0.01

)

(0.01

)

(0.01

)

(0.13

)

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

 

 

 

 

 

2000

 

(millions except per share data)

 

1st
Quarter

 

2nd
Quarter

 

3rd
Quarter

 

4th
Quarter

 

Full Year

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

Brokerage commissions and fees

 

$

1,193

 

$

1,193

 

$

1,167

 

$

1,352

 

$

4,905

 

Premiums and other

 

468

 

491

 

476

 

486

 

1,921

 

Investment income

 

137

 

125

 

133

 

113

 

508

 

Total revenue

 

1,798

 

1,809

 

1,776

 

1,951

 

7,334

 

 

 

 

 

 

 

 

 

 

 

 

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

General expenses

 

1,261

 

1,253

 

1,199

 

1,440

 

5,153

 

Benefits to policyholders

 

252

 

257

 

257

 

271

 

1,037

 

Interest expense

 

31

 

33

 

38

 

38

 

140

 

Amortization of intangible assets

 

38

 

39

 

38

 

39

 

154

 

Total expenses

 

1,582

 

1,582

 

1,532

 

1,788

 

6,484

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income tax and minority interest

 

216

 

227

 

244

 

163

 

850

 

Provision for income tax

 

84

 

89

 

95

 

63

 

331

 

Income from continuing operations before minority interest

 

132

 

138

 

149

 

100

 

519

 

Minority interest - 8.205% trust preferred capital securities

 

(10

)

(10

)

(10

)

(10

)

(40

)

Income from continuing operations

 

122

 

128

 

139

 

90

 

479

 

 

 

 

 

 

 

 

 

 

 

 

 

Discontinued operations

 

 

 

 

 

 

 

 

 

 

 

Income from discontinued operations

 

2

 

1

 

—

 

1

 

4

 

Income tax provision

 

1

 

—

 

—

 

1

 

2

 

Income from discontinued operations, net of tax

 

1

 

1

 

—

 

—

 

2

 

 

 

 

 

 

 

 

 

 

 

 

 

Cumulative effect of change in accounting principle, net of tax

 

(7

)

—

 

—

 

—

 

(7

)

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

116

 

$

129

 

$

139

 

$

90

 

$

474

 

Preferred stock dividends

 

(1

)

—

 

(1

)

(1

)

(3

)

Net income available for common stockholders

 

$

115

 

$

129

 

$

138

 

$

89

 

$

471

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income per share:

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

0.46

 

$

0.50

 

$

0.53

 

$

0.34

 

$

1.83

 

Discontinued operations

 

0.01

 

—

 

—

 

—

 

0.01

 

Cumulative effect of change in accounting principle

 

(0.03

)

—

 

—

 

—

 

(0.03

)

Net income

 

$

0.44

 

$

0.50

 

$

0.53

 

$

0.34

 

$

1.81

 

 

 

 

 

 

 

 

 

 

 

 

 

Dilutive net income per share:

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

0.46

 

$

0.49

 

$

0.53

 

$

0.33

 

$

1.81

 

Discontinued operations

 

0.01

 

—

 

—

 

—

 

0.01

 

Cumulative effect of change in accounting principle

 

(0.03

)

—

 

—

 

—

 

(0.03

)

Net income

 

$

0.44

 

$

0.49

 

$

0.53

 

$

0.33

 

$

1.79

 

 

 

 

 

 

 

 

 

 

 

 

 

Dilutive average common and common equivalent shares outstanding

 

260.5

 

261.7

 

262.8

 

267.0

 

263.0

 

 

 EX-99.2 3 a04-6847_1ex99d2.htm EX-99.2

Exhibit 99.2

 

Aon Corporation

Segments - Reclassified for Discontinued Operations

 

 

 

2003

 

(millions)

 

1st
Quarter

 

2nd
Quarter

 

3rd
Quarter

 

4th
Quarter

 

Full Year

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services:

 

 

 

 

 

 

 

 

 

 

 

Risk Management & Insurance Brokerage - Americas

 

$

507

 

$

590

 

$

562

 

$

640

 

$

2,299

 

Risk Management & Insurance Brokerage - International

 

524

 

507

 

478

 

565

 

2,074

 

Reinsurance Brokerage & Related Services

 

242

 

226

 

232

 

202

 

902

 

Claims Services

 

88

 

88

 

85

 

91

 

352

 

Total Risk & Insurance Brokerage Services

 

1,361

 

1,411

 

1,357

 

1,498

 

5,627

 

 

 

 

 

 

 

 

 

 

 

 

 

Consulting:

 

 

 

 

 

 

 

 

 

 

 

Benefits, Compensation, Management & Communications Consulting

 

209

 

224

 

214

 

251

 

898

 

Human Resource 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

 

$

2,369

 

$

2,419

 

$

2,376

 

$

2,588

 

$

9,752

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services

 

$

234

 

$

180

 

$

192

 

$

243

 

$

849

 

Consulting

 

21

 

22

 

20

 

47

 

110

 

Insurance Underwriting

 

63

 

64

 

58

 

11

 

196

 

Corporate & Other

 

(50

)

(6

)

(28

)

61

 

(23

)

Total

 

$

268

 

$

260

 

$

242

 

$

362

 

$

1,132

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income tax - margins

 

 

 

 

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services

 

17.2

%

12.8

%

14.1

%

16.2

%

15.1

%

Consulting

 

7.5

%

7.5

%

7.0

%

14.3

%

9.3

%

Insurance Underwriting

 

8.9

%

9.2

%

7.8

%

1.5

%

6.8

%

Total

 

11.3

%

10.7

%

10.2

%

14.0

%

11.6

%

 

 

 

 

2002

 

(millions)

 

1st
Quarter

 

2nd
Quarter

 

3rd
Quarter

 

4th
Quarter

 

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

 

77

 

80

 

87

 

85

 

329

 

Total Risk & Insurance Brokerage Services

 

1,144

 

1,202

 

1,234

 

1,340

 

4,920

 

 

 

 

 

 

 

 

 

 

 

 

 

Consulting:

 

 

 

 

 

 

 

 

 

 

 

Benefits, Compensation, Management & Communications Consulting

 

183

 

194

 

193

 

226

 

796

 

Human Resource 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

 

$

2,069

 

$

2,103

 

$

2,227

 

$

2,347

 

$

8,746

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services

 

$

192

 

$

146

 

$

213

 

$

254

 

$

805

 

Consulting

 

27

 

24

 

26

 

45

 

122

 

Insurance Underwriting

 

68

 

2

 

41

 

44

 

155

 

Corporate & Other

 

(7

)

(147

)

(51

)

(37

)

(242

)

Total

 

$

280

 

$

25

 

$

229

 

$

306

 

$

840

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income tax - margins

 

 

 

 

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services

 

16.8

%

12.1

%

17.3

%

19.0

%

16.4

%

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

%

1.2

%

10.3

%

13.0

%

9.6

%

 

 

 

 

2001

 

(millions)

 

1st
Quarter

 

2nd
Quarter

 

3rd
Quarter

 

4th
Quarter

 

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 Resource 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

 

$

1,807

 

$

1,906

 

$

1,904

 

$

2,029

 

$

7,646

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services

 

$

166

 

$

79

 

$

142

 

$

178

 

$

565

 

Consulting

 

24

 

24

 

29

 

50

 

127

 

Insurance Underwriting

 

68

 

60

 

45

 

(5

)

168

 

Corporate & Other

 

(169

)

(94

)

(76

)

(152

)

(491

)

Total

 

$

89

 

$

69

 

$

140

 

$

71

 

$

369

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations before income tax - margins

 

 

 

 

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services

 

15.8

%

7.3

%

13.8

%

14.9

%

12.9

%

Consulting

 

11.3

%

10.5

%

12.6

%

19.0

%

13.6

%

Insurance Underwriting

 

10.8

%

9.9

%

7.0

%

-0.8

%

6.7

%

Total

 

4.9

%

3.6

%

7.4

%

3.5

%

4.8

%

 

 

 

 

2000

 

(millions)

 

1st
Quarter

 

2nd
Quarter

 

3rd
Quarter

 

4th
Quarter

 

Full Year

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services:

 

 

 

 

 

 

 

 

 

 

 

Risk Management & Insurance Brokerage - Americas

 

$

420

 

$

456

 

$

448

 

$

544

 

$

1,868

 

Risk Management & Insurance Brokerage - International

 

370

 

332

 

301

 

332

 

1,335

 

Reinsurance Brokerage & Related Services

 

156

 

149

 

163

 

157

 

625

 

Claims Services

 

60

 

61

 

63

 

68

 

252

 

Total Risk & Insurance Brokerage Services

 

1,006

 

998

 

975

 

1,101

 

4,080

 

 

 

 

 

 

 

 

 

 

 

 

 

Consulting:

 

 

 

 

 

 

 

 

 

 

 

Benefits, Compensation, Management & Communications Consulting

 

143

 

147

 

148

 

198

 

636

 

Human Resource Outsourcing

 

33

 

33

 

34

 

34

 

134

 

Total Consulting

 

176

 

180

 

182

 

232

 

770

 

 

 

 

 

 

 

 

 

 

 

 

 

Insurance Underwriting:

 

 

 

 

 

 

 

 

 

 

 

Accident & Health and Life

 

319

 

323

 

330

 

349

 

1,321

 

Warranty, Credit and Property & Casualty

 

267

 

286

 

264

 

275

 

1,092

 

Total Insurance Underwriting

 

586

 

609

 

594

 

624

 

2,413

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate & Other

 

30

 

22

 

25

 

(6

)

71

 

Total

 

$

1,798

 

$

1,809

 

$

1,776

 

$

1,951

 

$

7,334

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services

 

$

177

 

$

178

 

$

179

 

$

127

 

$

661

 

Consulting

 

19

 

23

 

26

 

38

 

106

 

Insurance Underwriting

 

68

 

82

 

85

 

90

 

325

 

Corporate & Other

 

(48

)

(56

)

(46

)

(92

)

(242

)

Total

 

$

216

 

$

227

 

$

244

 

$

163

 

$

850

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income tax - margins

 

 

 

 

 

 

 

 

 

 

 

Risk & Insurance Brokerage Services

 

17.6

%

17.8

%

18.4

%

11.5

%

16.2

%

Consulting

 

10.8

%

12.8

%

14.3

%

16.4

%

13.8

%

Insurance Underwriting

 

11.6

%

13.5

%

14.3

%

14.4

%

13.5

%

Total

 

12.0

%

12.5

%

13.7

%

8.4

%

11.6

%

 

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