LONDON (16 November 2011): Aon Risk Solutions, the risk management business of Aon Corporation (NYSE: AON), and ACE have today announced the successful implementation of Rüschlikon accounting and settlement standards via The Exchange.

The move takes the London market’s e-capabilities a large step forward into the global marketplace with Aon and ACE implementing the international Rüschlikon accounting and settlement standards, via The Exchange for the notification and settlement of insurance premiums and claims on business outside the bureaux.

The Rüschlikon initiative is a working group of global insurance and reinsurance industry organisations who work together to define and implement international business rules for processing insurance and reinsurance transactions using ACORD standards.

Ian Summers, CIO for Aon Risk Solutions, explains, “With the addition of accounting and settlement messaging using the Rüschlikon rules, The Exchange now supports the life cycle of the insurance transaction process; e-placement through e-endorsements, premiums and claims. Aon has worked with its trading partners to develop the business processes and standards now available internationally which position this key piece of the London Market’s infrastructure on the Global map”

Peter Houston, ACE head of operations for UK and Ireland, said “ACE is pleased to have partnered with Aon on this initiative which will further improve current accounting practices for all parties, particularly our clients due to faster settlement times and enhanced service standards. ACE see a significant opportunity to extend these settlement and accounting benefits to the wider market already connected to The Message Exchange platform and to continue our drive to improve operational performance."

This eAccounting solution gives the entire UK and international market, brokers and carriers, the opportunity to automate premium and claim processes administered outside of the London bureaux, with quicker settlement times and greater security.

For more information please visit http://www.acord.org/communities/Ruschlikon/Pages/default.aspx.

-ENDS-

Media Contacts:

Aon
Ahmed Gawad
+44(0)-207 086 4014
ahmed.gawad@aon.co.uk

Grayling for ACE
Alistair Scott
+44(0)-207-932-1850
Alistair.scott@grayling.com

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About Aon

Aon Corporation (NYSE:AON) is the leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 61,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise. Aon has been named repeatedly as the world's best broker, best insurance intermediary, reinsurance intermediary, captives manager and best employee benefits consulting firm by multiple industry sources.

Visit http://www.aon.com for more information on Aon and http://www.aon.com/manchesterunited to learn about Aon's global partnership and shirt sponsorship with Manchester United.

About ACE

ACE is well known for its experience and expertise in catering for medium to large clients worldwide. In the UK & Ireland ACE is structured into two core segments: The Corporate Risk segment provides property, casualty, accident & health and other specialty insurance products. Target clients are broadly defined as those with turnovers of more than £5m and 50 plus staff with conventional insurance programme requirements. The Major Risks segment provides property, casualty, accident & health and other specialty insurance products. Major Risks clients are broadly defined as companies with a turnover of greater than £500m and employing a full time global risk manager requiring non-conventional insurance programmes. ACE UK & Ireland’s five regions are: Ireland (Dublin and Belfast) ∙ Scotland (Glasgow) ∙ The North (Leeds, Manchester, Newcastle) ∙ Midlands (Birmingham) London and South East (London, Maidstone, Reading, Watford).

ACE European Group is part of the ACE Group, a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE:ACE), a component of the S&P 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. ACE’s core operating insurance companies – including ACE European Group Limited – hold financial strength ratings of AA- (Very Strong) from Standard & Poor’s and A+ (Superior) from A.M. Best.

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