Exhibit 99.2
Aon Corporation
Segments - Reclassified for Discontinued Operations
|
| 2003 |
| 2004 |
| ||||||||||||||
(millions) |
| 1st |
| 2nd |
| 3rd |
| 4th |
| Full Year |
| 1st Quarter |
| ||||||
Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Risk & Insurance Brokerage Services: |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Risk Management & Insurance Brokerage - Americas |
| $ | 507 |
| $ | 590 |
| $ | 562 |
| $ | 640 |
| $ | 2,299 |
| $ | 532 |
|
Risk Management & Insurance Brokerage - International |
| 524 |
| 507 |
| 478 |
| 565 |
| 2,074 |
| 633 |
| ||||||
Reinsurance Brokerage & Related Services |
| 237 |
| 219 |
| 225 |
| 192 |
| 873 |
| 239 |
| ||||||
Claims Services |
| 88 |
| 88 |
| 85 |
| 91 |
| 352 |
| 61 |
| ||||||
Total Risk & Insurance Brokerage Services |
| 1,356 |
| 1,404 |
| 1,350 |
| 1,488 |
| 5,598 |
| 1,465 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Consulting: |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Benefits, Compensation, Management & Communications Consulting |
| 209 |
| 224 |
| 214 |
| 251 |
| 898 |
| 225 |
| ||||||
Human Resource Outsourcing |
| 71 |
| 68 |
| 70 |
| 78 |
| 287 |
| 76 |
| ||||||
Total Consulting |
| 280 |
| 292 |
| 284 |
| 329 |
| 1,185 |
| 301 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Insurance Underwriting: |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Accident & Health and Life |
| 399 |
| 377 |
| 416 |
| 402 |
| 1,594 |
| 425 |
| ||||||
Warranty, Credit and Property & Casualty |
| 310 |
| 315 |
| 326 |
| 338 |
| 1,289 |
| 356 |
| ||||||
Total Insurance Underwriting |
| 709 |
| 692 |
| 742 |
| 740 |
| 2,883 |
| 781 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Corporate & Other |
| 31 |
| 40 |
| 14 |
| 40 |
| 125 |
| 36 |
| ||||||
Intersegment Revenues |
| (12 | ) | (16 | ) | (21 | ) | (19 | ) | (68 | ) | (18 | ) | ||||||
Total |
| $ | 2,364 |
| $ | 2,412 |
| $ | 2,369 |
| $ | 2,578 |
| $ | 9,723 |
| $ | 2,565 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Income (loss) from continuing operations before income tax and minority interest |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Risk & Insurance Brokerage Services |
| $ | 235 |
| $ | 180 |
| $ | 191 |
| $ | 239 |
| $ | 845 |
| $ | 242 |
|
Consulting |
| 21 |
| 22 |
| 20 |
| 47 |
| 110 |
| 26 |
| ||||||
Insurance Underwriting |
| 63 |
| 64 |
| 58 |
| 11 |
| 196 |
| 53 |
| ||||||
Corporate & Other |
| (50 | ) | (6 | ) | (28 | ) | 61 |
| (23 | ) | (22 | ) | ||||||
Total |
| $ | 269 |
| $ | 260 |
| $ | 241 |
| $ | 358 |
| $ | 1,128 |
| $ | 299 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Income from continuing operations before income tax - margins |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Risk & Insurance Brokerage Services |
| 17.3 | % | 12.8 | % | 14.1 | % | 16.1 | % | 15.1 | % | 16.5 | % | ||||||
Consulting |
| 7.5 | % | 7.5 | % | 7.0 | % | 14.3 | % | 9.3 | % | 8.6 | % | ||||||
Insurance Underwriting |
| 8.9 | % | 9.2 | % | 7.8 | % | 1.5 | % | 6.8 | % | 6.8 | % | ||||||
Total |
| 11.4 | % | 10.8 | % | 10.2 | % | 13.9 | % | 11.6 | % | 11.7 | % |
|
| 2002 |
| |||||||||||||
(millions) |
| 1st |
| 2nd |
| 3rd |
| 4th |
| 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 |
| 194 |
| 186 |
| 204 |
| 181 |
| 765 |
| |||||
Claims Services |
| 77 |
| 80 |
| 87 |
| 85 |
| 329 |
| |||||
Total Risk & Insurance Brokerage Services |
| 1,139 |
| 1,196 |
| 1,228 |
| 1,332 |
| 4,895 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
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 |
| $ | 2,064 |
| $ | 2,097 |
| $ | 2,221 |
| $ | 2,339 |
| $ | 8,721 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Income (loss) from continuing operations before income tax and minority interest |
|
|
|
|
|
|
|
|
|
|
| |||||
Risk & Insurance Brokerage Services |
| $ | 192 |
| $ | 146 |
| $ | 212 |
| $ | 252 |
| $ | 802 |
|
Consulting |
| 27 |
| 24 |
| 26 |
| 45 |
| 122 |
| |||||
Insurance Underwriting |
| 68 |
| 2 |
| 41 |
| 44 |
| 155 |
| |||||
Corporate & Other |
| (7 | ) | (147 | ) | (51 | ) | (37 | ) | (242 | ) | |||||
Total |
| $ | 280 |
| $ | 25 |
| $ | 228 |
| $ | 304 |
| $ | 837 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Income from continuing operations before income tax - margins |
|
|
|
|
|
|
|
|
|
|
| |||||
Risk & Insurance Brokerage Services |
| 16.9 | % | 12.2 | % | 17.3 | % | 18.9 | % | 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 |
| 13.6 | % | 1.2 | % | 10.3 | % | 13.0 | % | 9.6 | % |
|
| 2001 |
| |||||||||||||
(millions) |
| 1st |
| 2nd |
| 3rd |
| 4th |
| 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 |
| 170 |
| 169 |
| 169 |
| 142 |
| 650 |
| |||||
Claims Services |
| 79 |
| 90 |
| 93 |
| 100 |
| 362 |
| |||||
Total Risk & Insurance Brokerage Services |
| 1,047 |
| 1,081 |
| 1,025 |
| 1,192 |
| 4,345 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
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 |
| $ | 1,802 |
| $ | 1,904 |
| $ | 1,899 |
| $ | 2,023 |
| $ | 7,628 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Income (loss) from continuing operations before income tax and minority interest |
|
|
|
|
|
|
|
|
|
|
| |||||
Risk & Insurance Brokerage Services |
| $ | 165 |
| $ | 79 |
| $ | 141 |
| $ | 176 |
| $ | 561 |
|
Consulting |
| 24 |
| 24 |
| 29 |
| 50 |
| 127 |
| |||||
Insurance Underwriting |
| 68 |
| 60 |
| 45 |
| (5 | ) | 168 |
| |||||
Corporate & Other |
| (169 | ) | (94 | ) | (76 | ) | (152 | ) | (491 | ) | |||||
Total |
| $ | 88 |
| $ | 69 |
| $ | 139 |
| $ | 69 |
| $ | 365 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Income (loss) from continuing operations before income tax - margins |
|
|
|
|
|
|
|
|
|
|
| |||||
Risk & Insurance Brokerage Services |
| 15.8 | % | 7.3 | % | 13.8 | % | 14.8 | % | 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 | % | 7.3 | % | 3.4 | % | 4.8 | % |
|
| 2000 |
| |||||||||||||
(millions) |
| 1st |
| 2nd |
| 3rd |
| 4th |
| 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 |
| 153 |
| 145 |
| 159 |
| 153 |
| 610 |
| |||||
Claims Services |
| 60 |
| 61 |
| 63 |
| 68 |
| 252 |
| |||||
Total Risk & Insurance Brokerage Services |
| 1,003 |
| 994 |
| 971 |
| 1,097 |
| 4,065 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
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 |
| $ | 1,795 |
| $ | 1,805 |
| $ | 1,772 |
| $ | 1,947 |
| $ | 7,319 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Income (loss) from continuing operations before income tax and minority interest |
|
|
|
|
|
|
|
|
|
|
| |||||
Risk & Insurance Brokerage Services |
| $ | 177 |
| $ | 177 |
| $ | 178 |
| $ | 125 |
| $ | 657 |
|
Consulting |
| 19 |
| 23 |
| 26 |
| 38 |
| 106 |
| |||||
Insurance Underwriting |
| 68 |
| 82 |
| 85 |
| 90 |
| 325 |
| |||||
Corporate & Other |
| (48 | ) | (56 | ) | (46 | ) | (92 | ) | (242 | ) | |||||
Total |
| $ | 216 |
| $ | 226 |
| $ | 243 |
| $ | 161 |
| $ | 846 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Income from continuing operations before income tax - margins |
|
|
|
|
|
|
|
|
|
|
| |||||
Risk & Insurance Brokerage Services |
| 17.6 | % | 17.8 | % | 18.3 | % | 11.4 | % | 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 | % | 8.3 | % | 11.6 | % |