LONDON - Friday, 29 October 2004.  Aon Consulting, a leading pensions, benefits and HR consulting firm, announced today that it has appointed aquila, the specialist pension administration software provider, to supply its next generation IT platform for pensions administration.  This investment is significant in reinforcing Aon Consulting’s existing credentials as a market-leading provider of pensions administration services.

Aon Consulting began their platform review in February of this year.   Commenting on this investment, Andrew Binns, Managing Director of HR Services said: “We’ve worked very diligently over the past eight months to identify the most effective pension system to drive our business forward.  We have selected a technology platform that will enable us to meet the current and future demands of our clients and shareholders. 

“We also feel that the new pension system will give our employees the most effective tools they need to deliver the level of service that our clients both deserve and have been accustomed to.  aquila’s ‘administrator’'  is the best application available in the market and puts clear blue water between Aon Consulting and our nearest competitors.”

Commenting on this agreement, David Ackroyd, Joint Chief Executive of aquila said: “Aon Consulting was looking for the pension administration system that would allow them to continue to offer the high level of service that helps differentiate Third Party Administrators (TPAs) in an increasingly technologically driven industry.

“aquila’s position as the market leader in the provision of pension solutions, together with our real understanding of the challenges facing TPAs, ensures Aon Consulting has chosen the perfect partner to help build its next generation service offering.                                                                                                                                    

David Ackroyd added: “Our solution, ‘administrator’' , continues to be ahead of other systems in enabling organisations to both improve levels of service and administer pensions more efficiently.

“This contract with Aon Consulting, worth in excess of ten million pounds, is another significant step towards our goal of becoming the leading systems provider to TPAs within three years.”

Aon Consulting also completed a review of its existing Profund ‘Classic’ software system (following the takeover of the Profund Systems Limited assets by Jardine Lloyd Thompson (JLT)).  Aon Consulting has now appointed Deerfield - a pensions, benefits, and insurance software service provider (created by former Profund Systems founder Blaise Prideaux) - to provide support and software development to Aon Consulting’s existing client base, combining with Aon Consulting’s 40-strong in-house ‘Classic’ software support team. 

Andrew Binns continued: “The outcome of our ‘Classic’ review means that for our existing pensions administration clients we can continue to support their service from our “Classic” platform and are able to rely on our specialist in-house team, with the support of Deerfield, an organisation which has vast experience with the ‘Classic’ software. 

“We would, of course, like our existing clients to be able to take advantage of the enormous benefits of the new platform.  Our new ‘Classic’ support structure will allow them to make a seamless transition to the new aquila platform at some future date in a managed and seamless way.                                                                

“In summary the investment in ‘administrator’, allied to the continued support for our Classic client base, places Aon[smp5]  Consulting in an unparalleled position to deliver excellent service to both current and future clients.”                                                     

Aon Consulting
Aon Consulting is a leading human capital consultancy, helping organisations of every size to attract and keep the employees they need. We advise on all aspects of employment, including health-related insurance and risk; employee compensation and pensions; human resource strategy planning; job design and change management; and staff assessment and legal issues.

Aon Consulting is a division of Aon, the UK’s largest insurance broker and provider of risk management services, a major force in reinsurance and the UK human capital consulting market.   Aon Consulting Limited is authorised and regulated by the Financial Services Authority.

aquila
aquila is part of Aquila Group Holdings Limited and has been a leading supplier of pensions administration software solutions in the UK since its formation in 1998.

aquila provides solutions to the Financial Services, Third Party Administration and Corporate Pension Scheme markets. Its clients include Prudential, Royal Bank of Scotland, Norwich Union, BBC, Standard Life and BP.

administrator is aquila’s functionally rich, pensions administration software solution. administrator is a fully web deployable solution which addresses the core administration, investment and communication requirements of all significant pension benefit and plan types. It’s a cost effective, low risk solution with demonstrable capability and a proven delivery track record.

For those clients who want to out-source their pensions IT provision,aquila offers a fully hosted, ASP service.

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This press release may contain certain statements relating to future results, 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 the general economic conditions in different countries around the world, fluctuations in global equity and fixed income markets, exchange rates, rating agency actions, pension funding, changes in commercial property and casualty markets and commercial premium rates, the competitive environment, the actual cost of resolution of contingent liabilities and other loss contingencies, the ultimate impact of the business transformation plan, and the timing and resolution of related insurance and reinsurance issues relating to the events of September 11, 2001.

Aon Limited is authorised and regulated by the Financial Services Authority in respect of insurance mediation activities only.