EXHIBIT 11

                       Aon Corporation and Subsidiaries

                 CONSOLIDATED NET INCOME PER SHARE COMPUTATION


(millions except per share data)
 
 
                                                               First Quarter    
                                                            --------------------
                                                            March 31,  March 31,
                                                              1995       1994   
                                                            ---------  ---------
                                                                   
EARNINGS PER SHARE                                                              
  Net income..............................................   $111.2     $ 99.1  
  Preferred stock dividends...............................      6.8        6.5  
                                                             ------     ------  
    Net income less preferred stock dividends.............   $104.4     $ 92.6  
                                                             ======     ======  
                                                                                
Average common shares issued..............................    110.6      105.8  
Net effect of treasury stock activity.....................     (2.4)      (4.4) 
Weighted average effect of Series B preferred stock.......       --        3.5
Net effect of dilutive stock compensation plans based     
   on the treasury stock method...........................      0.5        0.8
                                                             ------     ------
      Average common and common equivalent shares         
        outstanding.......................................    108.7      105.7
                                                             ======     ======  
Net income per share (1)..................................   $ 0.96     $ 0.88
                                                             ======     ======  
 

(1) Primary and fully diluted net income per share are materially the same.