QuickLinks -- Click here to rapidly navigate through this documentExhibit 99.4
AON CORPORATION
RECONCILIATION OF REPORTED REVENUE GROWTH TO ORGANIC REVENUE GROWTH
| | 1st Quarter 2003
| |
---|
| | Reported Revenue Growth
| | Less: Currency Impact
| | Less: All Other (1)
| | Organic Revenue Growth
| |
---|
Risk & Insurance Brokerage Services: | | | | | | | | | |
| Risk Management & Insurance Brokerage—Americas | | 13 | % | -2 | % | 2 | % | 13 | % |
| Risk Management & Insurance Brokerage—International | | 25 | % | 14 | % | 1 | % | 10 | % |
| Reinsurance Brokerage & Related Services | | 22 | % | 9 | % | -2 | % | 15 | % |
| Claims Services | | 12 | % | 3 | % | -5 | % | 14 | % |
| |
| |
| |
| |
| |
| | Total Risk & Insurance Brokerage Services | | 19 | % | 7 | % | 0 | % | 12 | % |
| |
| |
| |
| |
| |
Consulting: | | | | | | | | | |
| Benefits, Compensation, Management and Communications Consulting | | 14 | % | 5 | % | 3 | % | 6 | % |
| Human Resource Outsourcing | | 46 | % | 3 | % | 5 | % | 38 | % |
| |
| |
| |
| |
| |
| | Total Consulting | | 21 | % | 6 | % | 2 | % | 13 | % |
| |
| |
| |
| |
| |
Insurance Underwriting: | | | | | | | | | |
| Accident & Health and Life | | 3 | % | 2 | % | -4 | % | 5 | % |
| Warranty, Credit and Property & Casualty | | 19 | % | 3 | % | -4 | % | 20 | % |
| |
| |
| |
| |
| |
| | Total Insurance Underwriting | | 9 | % | 2 | % | -5 | % | 12 | % |
| |
| |
| |
| |
| |
Total Operating Segments (after eliminations) | | 14 | % | 5 | % | -3 | % | 12 | % |
| |
| |
| |
| |
| |
- (1)
- Includes items discussed in the organic revenue growth description, beyond currency impact.
AON CORPORATION
RECONCILIATION OF REPORTED REVENUE GROWTH TO ORGANIC REVENUE GROWTH
| | 1st Quarter 2002
| |
---|
| | Reported Revenue Growth
| | Less: Currency Impact
| | Less: All Other (1)
| | Organic Revenue Growth
| |
---|
Risk & Insurance Brokerage Services: | | | | | | | | | |
| Risk Management & Insurance Brokerage—Americas | | 6 | % | -1 | % | -2 | % | 9 | % |
| Risk Management & Insurance Brokerage—International | | 12 | % | -4 | % | 0 | % | 16 | % |
| Reinsurance Brokerage & Related Services | | 14 | % | -2 | % | -9 | % | 25 | % |
| Claims Services | | 14 | % | -1 | % | 5 | % | 10 | % |
| |
| |
| |
| |
| |
| | Total Risk & Insurance Brokerage Services | | 10 | % | -2 | % | -1 | % | 13 | % |
| |
| |
| |
| |
| |
Consulting: | | | | �� | | | | | |
| Benefits, Compensation, Management and Communications Consulting | | 8 | % | -1 | % | 3 | % | 6 | % |
| Human Resource Outsourcing | | 16 | % | -1 | % | 14 | % | 3 | % |
| |
| |
| |
| |
| |
| | Total Consulting | | 10 | % | -1 | % | 7 | % | 4 | % |
| |
| |
| |
| |
| |
Insurance Underwriting: | | | | | | | | | |
| Accident & Health and Life | | 12 | % | -4 | % | -14 | % | 30 | % |
| Warranty, Credit and Property & Casualty | | -7 | % | 0 | % | -13 | % | 6 | % |
| |
| |
| |
| |
| |
| | Total Insurance Underwriting | | 3 | % | -2 | % | -12 | % | 17 | % |
| |
| |
| |
| |
| |
Total Operating Segments | | 8 | % | -2 | % | -4 | % | 14 | % |
| |
| |
| |
| |
| |
| | 2nd Quarter 2002
| |
---|
| | Reported Revenue Growth
| | Less: Currency Impact
| | Less: All Other (1)
| | Organic Revenue Growth
| |
---|
Risk & Insurance Brokerage Services: | | | | | | | | | |
| Risk Management & Insurance Brokerage—Americas | | 8 | % | -1 | % | 1 | % | 8 | % |
| Risk Management & Insurance Brokerage—International | | 21 | % | 3 | % | 5 | % | 13 | % |
| Reinsurance Brokerage & Related Services | | 12 | % | 1 | % | -3 | % | 14 | % |
| Claims Services | | 3 | % | 1 | % | 0 | % | 2 | % |
| |
| |
| |
| |
| |
| | Total Risk & Insurance Brokerage Services | | 12 | % | 1 | % | 1 | % | 10 | % |
| |
| |
| |
| |
| |
Consulting: | | | | | | | | | |
| Benefits, Compensation, Management and Communications Consulting | | 7 | % | 1 | % | 0 | % | 6 | % |
| Human Resource Outsourcing | | 13 | % | 1 | % | 9 | % | 3 | % |
| |
| |
| |
| |
| |
| | Total Consulting | | 8 | % | 1 | % | 1 | % | 6 | % |
| |
| |
| |
| |
| |
Insurance Underwriting: | | | | | | | | | |
| Accident & Health and Life | | 25 | % | 0 | % | 5 | % | 20 | % |
| Warranty, Credit and Property & Casualty | | 21 | % | 1 | % | -6 | % | 26 | % |
| |
| |
| |
| |
| |
| | Total Insurance Underwriting | | 23 | % | 0 | % | 0 | % | 23 | % |
| |
| |
| |
| |
| |
Total Operating Segments | | 15 | % | 1 | % | 0 | % | 14 | % |
| |
| |
| |
| |
| |
| | 3rd Quarter 2002
| |
---|
| | Reported Revenue Growth
| | Less: Currency Impact
| | Less: All Other (1)
| | Organic Revenue Growth
| |
---|
Risk & Insurance Brokerage Services: | | | | | | | | | |
| Risk Management & Insurance Brokerage—Americas | | 21 | % | -2 | % | -3 | % | 26 | % |
| Risk Management & Insurance Brokerage—International | | 25 | % | 7 | % | 4 | % | 14 | % |
| Reinsurance Brokerage & Related Services | | 21 | % | 4 | % | -17 | % | 34 | % |
| Claims Services | | 8 | % | 2 | % | 0 | % | 6 | % |
| |
| |
| |
| |
| |
| | Total Risk & Insurance Brokerage Services | | 21 | % | 2 | % | -2 | % | 21 | % |
| |
| |
| |
| |
| |
Consulting: | | | | | | | | | |
| Benefits, Compensation, Management and Communications Consulting | | 7 | % | 2 | % | -1 | % | 6 | % |
| Human Resource Outsourcing | | 46 | % | 2 | % | 0 | % | 44 | % |
| |
| |
| |
| |
| |
| | Total Consulting | | 16 | % | 2 | % | 0 | % | 14 | % |
| |
| |
| |
| |
| |
Insurance Underwriting: | | | | | | | | | |
| Accident & Health and Life | | 16 | % | 4 | % | 4 | % | 8 | % |
| Warranty, Credit and Property & Casualty | | 7 | % | 2 | % | 0 | % | 5 | % |
| |
| |
| |
| |
| |
| | Total Insurance Underwriting | | 12 | % | 3 | % | 2 | % | 7 | % |
| |
| |
| |
| |
| |
Total Operating Segments | | 17 | % | 3 | % | -1 | % | 15 | % |
| |
| |
| |
| |
| |
| | 4th Quarter 2002
| |
---|
| | Reported Revenue Growth
| | Less: Currency Impact
| | Less: All Other (1)
| | Organic Revenue Growth
| |
---|
Risk & Insurance Brokerage Services: | | | | | | | | | |
| Risk Management & Insurance Brokerage—Americas | | 5 | % | -1 | % | -5 | % | 11 | % |
| Risk Management & Insurance Brokerage—International | | 23 | % | 9 | % | 2 | % | 12 | % |
| Reinsurance Brokerage & Related Services | | 28 | % | 2 | % | 5 | % | 21 | % |
| Claims Services | | -1 | % | 2 | % | -1 | % | -2 | % |
| |
| |
| |
| |
| |
| | Total Risk & Insurance Brokerage Services | | 13 | % | 3 | % | 0 | % | 10 | % |
| |
| |
| |
| |
| |
Consulting: | | | | | | | | | |
| Benefits, Compensation, Management and Communications Consulting | | 8 | % | 2 | % | 1 | % | 5 | % |
| Human Resource Outsourcing | | 42 | % | 2 | % | 3 | % | 37 | % |
| |
| |
| |
| |
| |
| | Total Consulting | | 15 | % | 2 | % | 1 | % | 12 | % |
| |
| |
| |
| |
| |
Insurance Underwriting: | | | | | | | | | |
| Accident & Health and Life | | 6 | % | 4 | % | -9 | % | 11 | % |
| Warranty, Credit and Property & Casualty | | 6 | % | 4 | % | 7 | % | -5 | % |
| |
| |
| |
| |
| |
| | Total Insurance Underwriting | | 6 | % | 4 | % | -2 | % | 4 | % |
| |
| |
| |
| |
| |
Total Operating Segments | | 11 | % | 3 | % | -1 | % | 9 | % |
| |
| |
| |
| |
| |
| | Full Year 2002
| |
---|
| | Reported Revenue Growth
| | Less: Currency Impact
| | Less: All Other (1)
| | Organic Revenue Growth
| |
---|
Risk & Insurance Brokerage Services: | | | | | | | | | |
| Risk Management & Insurance Brokerage—Americas | | 10 | % | -1 | % | -2 | % | 13 | % |
| Risk Management & Insurance Brokerage—International | | 20 | % | 4 | % | 2 | % | 14 | % |
| Reinsurance Brokerage & Related Services | | 18 | % | 1 | % | -6 | % | 23 | % |
| Claims Services | | 6 | % | 1 | % | 1 | % | 4 | % |
| |
| |
| |
| |
| |
| | Total Risk & Insurance Brokerage Services | | 14 | % | 1 | % | 0 | % | 13 | % |
| |
| |
| |
| |
| |
Consulting: | | | | | | | | | |
| Benefits, Compensation, Management and Communications Consulting | | 8 | % | 1 | % | 1 | % | 6 | % |
| Human Resource Outsourcing | | 30 | % | 1 | % | 7 | % | 22 | % |
| |
| |
| |
| |
| |
| | Total Consulting | | 12 | % | 1 | % | 2 | % | 9 | % |
| |
| |
| |
| |
| |
Insurance Underwriting: | | | | | | | | | |
| Accident & Health and Life | | 15 | % | 1 | % | -2 | % | 16 | % |
| Warranty, Credit and Property & Casualty | | 6 | % | 1 | % | 0 | % | 5 | % |
| |
| |
| |
| |
| |
| | Total Insurance Underwriting | | 11 | % | 1 | % | -1 | % | 11 | % |
| |
| |
| |
| |
| |
Total Operating Segments | | 13 | % | 1 | % | 0 | % | 12 | % |
| |
| |
| |
| |
| |
- (1)
- Includes items discussed in the organic revenue growth description, beyond currency impact.
AON CORPORATION
RECONCILIATION OF REPORTED REVENUE GROWTH TO ORGANIC REVENUE GROWTH
| | 1st Quarter 2001
| |
---|
| | Reported Revenue Growth
| | Less: Currency Impact
| | Less: All Other (1)
| | Organic Revenue Growth
| |
---|
Risk & Insurance Brokerage Services: | | | | | | | | | |
| Risk Management & Insurance Brokerage—Americas | | 1 | % | -1 | % | 2 | % | 0 | % |
| Risk Management & Insurance Brokerage—International | | 1 | % | -7 | % | 0 | % | 8 | % |
| Reinsurance Brokerage & Related Services | | 12 | % | -4 | % | -2 | % | 18 | % |
| Claims Services | | 32 | % | -3 | % | -11 | % | 46 | % |
| |
| |
| |
| |
| |
| | Total Risk & Insurance Brokerage Services | | 5 | % | -4 | % | 1 | % | 8 | % |
| |
| |
| |
| |
| |
Consulting: | | | | | | | | | |
| Benefits, Compensation, Management and Communications Consulting | | 18 | % | -3 | % | 10 | % | 11 | % |
| Human Resource Outsourcing | | 30 | % | -4 | % | 36 | % | -2 | % |
| |
| |
| |
| |
| |
| | Total Consulting | | 20 | % | -4 | % | 16 | % | 8 | % |
| |
| |
| |
| |
| |
Insurance Underwriting: | | | | | | | | | |
| Accident & Health and Life | | 9 | % | -3 | % | 4 | % | 8 | % |
| Warranty, Credit and Property & Casualty | | 5 | % | -3 | % | 7 | % | 1 | % |
| |
| |
| |
| |
| |
| | Total Insurance Underwriting | | 7 | % | -3 | % | 5 | % | 5 | % |
| |
| |
| |
| |
| |
Total Operating Segments | | 7 | % | -4 | % | 4 | % | 7 | % |
| |
| |
| |
| |
| |
| | 2nd Quarter 2001
| |
---|
| | Reported Revenue Growth
| | Less: Currency Impact
| | Less: All Other (1)
| | Organic Revenue Growth
| |
---|
Risk & Insurance Brokerage Services: | | | | | | | | | |
| Risk Management & Insurance Brokerage—Americas | | 5 | % | -1 | % | 0 | % | 6 | % |
| Risk Management & Insurance Brokerage—International | | 3 | % | -7 | % | 1 | % | 9 | % |
| Reinsurance Brokerage & Related Services | | 15 | % | -4 | % | -4 | % | 23 | % |
| Claims Services | | 48 | % | -2 | % | -1 | % | 51 | % |
| |
| |
| |
| |
| |
| | Total Risk & Insurance Brokerage Services | | 9 | % | -3 | % | 0 | % | 12 | % |
| |
| |
| |
| |
| |
Consulting: | | | | | | | | | |
| Benefits, Compensation, Management and Communications Consulting | | 23 | % | -2 | % | 15 | % | 10 | % |
| Human Resource Outsourcing | | 45 | % | -4 | % | 43 | % | 6 | % |
| |
| |
| |
| |
| |
| | Total Consulting | | 27 | % | -3 | % | 21 | % | 9 | % |
| |
| |
| |
| |
| |
Insurance Underwriting: | | | | | | | | | |
| Accident & Health and Life | | 10 | % | -3 | % | 5 | % | 8 | % |
| Warranty, Credit and Property & Casualty | | -11 | % | -3 | % | -1 | % | -7 | % |
| |
| |
| |
| |
| |
| | Total Insurance Underwriting | | 0 | % | -3 | % | 2 | % | 1 | % |
| |
| |
| |
| |
| |
Total Operating Segments | | 7 | % | -3 | % | 2 | % | 8 | % |
| |
| |
| |
| |
| |
| | 3rd Quarter 2001
| |
---|
| | Reported Revenue Growth
| | Less: Currency Impact
| | Less: All Other (1)
| | Organic Revenue Growth
| |
---|
Risk & Insurance Brokerage Services: | | | | | | | | | |
| Risk Management & Insurance Brokerage—Americas | | -2 | % | -1 | % | 1 | % | -2 | % |
| Risk Management & Insurance Brokerage—International | | 7 | % | -4 | % | 4 | % | 7 | % |
| Reinsurance Brokerage & Related Services | | 7 | % | -2 | % | 5 | % | 4 | % |
| Claims Services | | 48 | % | -1 | % | 0 | % | 49 | % |
| |
| |
| |
| |
| |
| | Total Risk & Insurance Brokerage Services | | 6 | % | -2 | % | 2 | % | 6 | % |
| |
| |
| |
| |
| |
Consulting: | | | | | | | | | |
| Benefits, Compensation, Management and Communications Consulting | | 22 | % | -1 | % | 17 | % | 6 | % |
| Human Resource Outsourcing | | 53 | % | -3 | % | 57 | % | -1 | % |
| |
| |
| |
| |
| |
| | Total Consulting | | 27 | % | -2 | % | 25 | % | 4 | % |
| |
| |
| |
| |
| |
Insurance Underwriting: | | | | | | | | | |
| Accident & Health and Life | | 8 | % | -4 | % | 2 | % | 10 | % |
| Warranty, Credit and Property & Casualty | | 8 | % | 1 | % | 1 | % | 6 | % |
| |
| |
| |
| |
| |
| | Total Insurance Underwriting | | 8 | % | -2 | % | 2 | % | 8 | % |
| |
| |
| |
| |
| |
Total Operating Segments | | 9 | % | -2 | % | 4 | % | 7 | % |
| |
| |
| |
| |
| |
| | 4th Quarter 2001
| |
---|
| | Reported Revenue Growth
| | Less: Currency Impact
| | Less: All Other (1)
| | Organic Revenue Growth
| |
---|
Risk & Insurance Brokerage Services: | | | | | | | | | |
| Risk Management & Insurance Brokerage—Americas | | 6 | % | -1 | % | 7 | % | 0 | % |
| Risk Management & Insurance Brokerage—International | | 13 | % | 0 | % | 3 | % | 10 | % |
| Reinsurance Brokerage & Related Services | | -6 | % | 0 | % | -19 | % | 13 | % |
| Claims Services | | 47 | % | 0 | % | 2 | % | 45 | % |
| |
| |
| |
| |
| |
| | Total Risk & Insurance Brokerage Services | | 9 | % | 0 | % | 0 | % | 9 | % |
| |
| |
| |
| |
| |
Consulting: | | | | | | | | | |
| Benefits, Compensation, Management and Communications Consulting | | 6 | % | -1 | % | -1 | % | 8 | % |
| Human Resource Outsourcing | | 62 | % | 2 | % | 56 | % | 4 | % |
| |
| |
| |
| |
| |
| | Total Consulting | | 14 | % | 0 | % | 7 | % | 7 | % |
| |
| |
| |
| |
| |
Insurance Underwriting: | | | | | | | | | |
| Accident & Health and Life | | 6 | % | 0 | % | -10 | % | 16 | % |
| Warranty, Credit and Property & Casualty | | -1 | % | 1 | % | -3 | % | 1 | % |
| |
| |
| |
| |
| |
| | Total Insurance Underwriting | | 3 | % | 0 | % | -5 | % | 8 | % |
| |
| |
| |
| |
| |
Total Operating Segments | | 8 | % | 0 | % | -1 | % | 9 | % |
| |
| |
| |
| |
| |
| | Full Year 2001
| |
---|
| | Reported Revenue Growth
| | Less: Currency Impact
| | Less: All Other (1)
| | Organic Revenue Growth
| |
---|
Risk & Insurance Brokerage Services: | | | | | | | | | |
| Risk Management & Insurance Brokerage—Americas | | 3 | % | -1 | % | 3 | % | 1 | % |
| Risk Management & Insurance Brokerage—International | | 6 | % | -4 | % | 1 | % | 9 | % |
| Reinsurance Brokerage & Related Services | | 7 | % | -2 | % | -5 | % | 14 | % |
| Claims Services | | 44 | % | -2 | % | -1 | % | 47 | % |
| |
| |
| |
| |
| |
| | Total Risk & Insurance Brokerage Services | | 7 | % | -2 | % | 0 | % | 9 | % |
| |
| |
| |
| |
| |
Consulting: | | | | | | | | | |
| Benefits, Compensation, Management and Communications Consulting | | 16 | % | -1 | % | 8 | % | 9 | % |
| Human Resource Outsourcing | | 48 | % | -2 | % | 48 | % | 2 | % |
| |
| |
| |
| |
| |
| | Total Consulting | | 22 | % | -2 | % | 17 | % | 7 | % |
| |
| |
| |
| |
| |
Insurance Underwriting: | | | | | | | | | |
| Accident & Health and Life | | 8 | % | -3 | % | 0 | % | 11 | % |
| Warranty, Credit and Property & Casualty | | 0 | % | -1 | % | 1 | % | 0 | % |
| |
| |
| |
| |
| |
| | Total Insurance Underwriting | | 4 | % | -2 | % | 1 | % | 5 | % |
| |
| |
| |
| |
| |
Total Operating Segments | | 8 | % | -2 | % | 2 | % | 8 | % |
| |
| |
| |
| |
| |
- (1)
- Includes items discussed in the organic revenue growth description, beyond currency impact.
QuickLinks
AON CORPORATION RECONCILIATION OF REPORTED REVENUE GROWTH TO ORGANIC REVENUE GROWTH