White Rock, the Aon-owned leader in protected cell companies and rent-a-captives, has announced the addition of a segregated accounts company, White Rock Insurance (SAC) Bermuda Ltd (White Rock Bermuda), to its fast growing family.

(Logo: http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO )

White Rock Bermuda will provide an alternative risk management model for the middle market sector, but without the investment in capital and management time required for stand-alone captives. The White Rock model can provide a variety of risk management tools ranging from single mono-line programmes through to run-offs and securitisations. White Rock is licensed in Bermuda for all classes of general and long-term (life) insurance business. In addition, White Rock is on the doorstep of one of the world's largest offshore reinsurance markets, which can be used as part of the programme design.

Clive James, a director at White Rock, commented: "The establishment of White Rock in Bermuda provides another cell captive option to our client base. Bermuda brings a number of exciting opportunities not only to the American region but to our worldwide risk managers. The flexibility of the Bermuda market for cells brings us the opportunity to provide a quick, simple, effective and cost beneficial method of entering the captive market."

   For further information:

   Sebastian St John Clarke
   Aon Media Relations
   Tel +44 (0) 20 7505 7201
   Sebastian.Clarke@aon.co.uk

   Brian Durrant
   Aon Insurance Managers
   Brian_Durrant@agl.aon.com
   Executive Vice President
   Bermuda
   00 441 299 7319


  Notes for Editors

White Rock is a division of Aon Captive Services Group, Aon Corporation's captive and alternative risk financing arm.

Segregated Accounts Companies

For many years Bermuda has transacted business on the basis of segregating assets and liabilities through companies formed by private acts of Parliament. Dedicated legislation for such transactions originated in Guernsey under Protected Cell Company (PCC) legislation, was mirrored in the Cayman Islands with Segregated Portfolio Company (SPC) legislation and then was further developed in Bermuda with Segregated Accounts Company legislation. Although each legislation differs, the basic premise is the same across domiciles: assets and liabilities of one cell or account are legally separated from assets and liabilities of any other cell or account in the company.

  The White Rock Family Consists of:


   White Rock Insurance Company PCC Limited
   Guernsey

   Protected Cell Company
   --  Risk retention programs
   --  UK & US fronting
   --  Securitization and transformer vehicles


   White Rock Insurance (Gibraltar) PCC Limited
   Gibraltar

   Protected Cell Company
   Licensed to write into all European Economic Area territories
   --  Fronting in these territories
   --  Risk retention program for business in these territories


   White Rock Insurance (Europe) PCC Limited
   Gibraltar

   Protected Cell Company
   Licensed to write into all European Economic Area Territories, without
   membership of terrorism pools


   White Rock Insurance (SAC) Ltd.
   Bermuda

   Segregated Accounts Company
   Risk retention programs
   Fronting into territories on non-admitted basis (where permitted)
   Access to Bermuda reinsurance and specialist captive markets


   White Rock Reinsurance S.A.
   Luxembourg

   Rent-a-Captive
   Reinsurance for clients looking to equalize group deductibles or in
   certain cases to build up equalization reserves on a more long-term basis


  About Aon

Aon Corporation (NYSE: AOC) ( http://www.aon.com/ ) is a leading provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. There are 47,000 employees working in Aon's 500 offices in more than 120 countries. Backed by broad resources, industry knowledge and technical expertise, Aon professionals help a wide range of clients develop effective risk management and workforce productivity solutions.

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, our ability to execute the stock repurchase program, changes in commercial property and casualty markets and commercial premium rates that could impact revenues, changes in revenues and earnings due to the elimination of contingent commissions, other uncertainties surrounding a new compensation model, the impact of investigations brought by state attorneys general, state insurance regulators, federal prosecutors, and federal regulators, the impact of class actions and individual lawsuits including client class actions, securities class actions, derivative actions, and ERISA class actions, the cost of resolution of other contingent liabilities and loss contingencies, and the difference in ultimate paid claims in our underwriting companies from actuarial estimates. 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.

Photo: http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com

SOURCE: Aon Corporation

CONTACT: Sebastian St John Clarke, Aon Media Relations,
+44 (0) 20 7505 7201, or Sebastian.Clarke@aon.co.uk , or Brian Durrant,
Executive Vice President, Aon Insurance Managers, Bermuda, +00 441 299 7319,
or Brian_Durrant@agl.aon.com

Web site: http://www.aon.com/