EX-99.4 6 a05-4590_1ex99d4.htm EX-99.4

Exhibit 99.4

 

Aon Corporation

Segments - Year-to-date Continuing Operations

 

 

 

Twelve Months Ended

 

(millions)

 

Dec. 31,
2004

 

Dec. 31,
2003 (1)

 

Percent
Change

 

Less:
Currency
Impact

 

Less:
Acquisitions,
Divestitures &
Transfers

 

Less: All
Other (2)

 

Organic
Revenue
Growth (3)

 

 

 

(Revised)

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk and insurance brokerage services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk management and insurance brokerage - Americas

 

$

2,308

 

$

2,294

 

1

%

1

%

—

%

—

%

—

%

Risk management and insurance brokerage - International

 

2,357

 

2,074

 

14

 

9

 

1

 

1

 

3

 

Reinsurance brokerage and related services

 

861

 

873

 

(1

)

4

 

—

 

(1

)

(4

)

Claims services

 

212

 

352

 

(40

)

—

 

(27

)

—

 

(13

)

Total risk and insurance brokerage services

 

5,738

 

5,593

 

3

 

4

 

(1

)

—

 

—

 

Consulting

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Benefits, compensation, management and communications consulting

 

949

 

898

 

6

 

4

 

—

 

1

 

1

 

Human resource outsourcing

 

298

 

287

 

4

 

3

 

3

 

(1

)

(1

)

Total consulting

 

1,247

 

1,185

 

5

 

4

 

1

 

(1

)

1

 

Insurance underwriting

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accident & health and life

 

1,721

 

1,594

 

8

 

4

 

—

 

8

 

(4

)

Warranty, credit and property & casualty

 

1,429

 

1,289

 

11

 

3

 

—

 

2

 

6

 

Total insurance underwriting

 

3,150

 

2,883

 

9

 

4

 

—

 

4

 

1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate and other

 

109

 

125

 

(13

)

N/A

 

N/A

 

N/A

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intersegment revenues

 

(72

)

(68

)

N/A

 

N/A

 

N/A

 

N/A

 

N/A

 

Total

 

$

10,172

 

$

9,718

 

5

%

4

%

(1

)%

2

%

—

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment income (included in Revenue above)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk and insurance brokerage services

 

$

83

 

$

70

 

19

%

 

 

 

 

 

 

 

 

Consulting

 

3

 

2

 

50

 

 

 

 

 

 

 

 

 

Insurance underwriting, including deposit-type contracts

 

129

 

115

 

12

 

 

 

 

 

 

 

 

 

Corporate and other

 

109

 

125

 

(13

)

 

 

 

 

 

 

 

 

Total

 

$

324

 

$

312

 

4

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk and insurance brokerage services

 

$

629

 

$

848

 

(26

)%

 

 

 

 

 

 

 

 

Consulting

 

105

 

110

 

(5

)

 

 

 

 

 

 

 

 

Insurance underwriting

 

254

 

196

 

30

 

 

 

 

 

 

 

 

 

Corporate and other

 

(108

)

(23

)

N/A

 

 

 

 

 

 

 

 

 

Total

 

$

880

 

$

1,131

 

(22

)%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income tax - margins

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk and insurance brokerage services

 

11.0

%

15.2

%

 

 

 

 

 

 

 

 

 

 

Consulting

 

8.4

%

9.3

%

 

 

 

 

 

 

 

 

 

 

Insurance underwriting

 

8.1

%

6.8

%

 

 

 

 

 

 

 

 

 

 

Total

 

8.7

%

11.6

%

 

 

 

 

 

 

 

 

 

 

 

(1)          Certain amounts relating to discontinued operations have been reclassified to conform to the 2004 presentation.

(2)          Includes the impact of investment income, reimbursable expenses, adjustment between written and earned premium and fees in insurance underwriting only, and unusual items.

(3)          Organic revenue growth excludes the impact of foreign exchange, acquisitions, divestitures, transfers and items described in (2).  Written premiums and fees are the basis for organic revenue growth within the Insurance Underwriting segment.