Published:
Aon Completes Sale of Auto Insurance Specialists
CHICAGO, Jan. 6 /PRNewswire-FirstCall/ -- Aon Corporation (NYSE: AOC)
today announced that it has completed the sale of all of the issued and
outstanding equity interests of AIS Management, LLC, which is the parent
company of Auto Insurance Specialists, LLC, to Mercury General Corporation
(NYSE: MCY). Aon received $120 million in cash at the closing on January 2,
and may receive potential earn out of up to $34.7 million in additional
consideration payable over the two year period following the transaction
closing date.
About Aon
Aon Corporation (NYSE: AOC) is the leading global provider of risk
management services, insurance and reinsurance brokerage, human capital and
management consulting. Through its over 36,000 colleagues worldwide, Aon
readily delivers distinctive client value via innovative and effective risk
management and workforce productivity solutions. Our industry-leading global
resources, technical expertise and industry knowledge are delivered locally
through more than 500 offices in more than 120 countries. Aon was named the
world's "best broker" by Euromoney magazine's 2008 Insurance Survey. In 2008,
Aon ranked highest on the Business Insurance ranking of the world's largest
insurance brokers based on commercial retail, wholesale, reinsurance and
personal lines brokerage revenues. Aon also was ranked by A.M. Best as the
number one global insurance brokerage in 2007 and 2008 based on brokerage
revenues, and was voted best insurance intermediary, best reinsurance
intermediary, and best employee benefits consulting firm in 2007 and 2008 by
the readers of Business Insurance. For more information on Aon, log onto
http://www.aon.com/.
Safe Harbor Statement
This press release contains certain statements related to future results,
or states our intentions, beliefs and expectations or predictions for the
future which are forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements are subject to certain risks and uncertainties that could cause
actual results to differ materially from either historical or anticipated
results depending on a variety of factors. Potential factors that could impact
results include: general economic conditions in different countries in which
we do business around the world, changes in global equity and fixed income
markets that could affect the return on invested assets, fluctuations in
exchange and interest rates that could influence revenue and expense, rating
agency actions that could affect our ability to borrow funds, funding of our
various pension plans, changes in the competitive environment, our ability to
implement restructuring initiatives and other initiatives intended to yield
cost savings, changes in commercial property and casualty markets and
commercial premium rates that could impact revenues, the outcome of inquiries
from regulators and investigations related to compliance with the U.S. Foreign
Corrupt Practices Act and non-U.S. anti-corruption laws, the impact of
investigations brought by U.S. state attorneys general, U.S. state insurance
regulators, U.S. federal prosecutors, U.S. federal regulators, and regulatory
authorities in the U.K. and other countries, the impact of class actions and
individual lawsuits including client class actions, securities class actions,
derivative actions, ERISA class actions, the cost of resolution of other
contingent liabilities and loss contingencies, our ability to integrate
Benfield successfully and to realize the anticipated benefits of the Benfield
acquisition. Further information concerning the Company and its business,
including factors that potentially could materially affect the Company's
financial results, is contained in the Company's filings with the Securities
and Exchange Commission.
Investor Contact: Media Contact:
Scott Malchow David Prosperi
Vice President, Vice President,
Investor Relations Global Public Relations
312-381-3983 312-381-2485
SOURCE Aon Corporation
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