LONDON, 25 March 2004 - Aon Limited, the leading UK insurance broker, risk management and human capital consulting firm, today announced that Joanna Caparn will be joining the firm on 1st June as CEO Designate, Personal and Group Programmes.
Aon Risk Services' Personal and Group Programmes (PGP) division develops specialist insurance products and programme management services directly for clients and also for the benefit of clients' own customers. Aon's PGP businesses include Aon Artscope (fine art insurance), and Aon Private Clients (for High Net Worth clients). Aon PGP also works with brand-led businesses, local authorities and trade associations to develop specialist insurance products for our clients'; target markets.
Ms Caparn has spent the last ten years with BUPA where she was a member of the executive committee with responsibility for the UK consumer business. Before joining BUPA, she was previously employed in client management and business development roles in the construction and airline industries.
Peter Friend, the current CEO, has decided to retire from full time work at the end of this year, following a long and highly successful career in insurance, including ten years as the head of Aon's Personal and Group Programmes business. Commenting on the succession, Mr Friend said: "I am pleased that Aon has chosen such a strong successor to me and I am looking forward to working with Joanna in the months ahead."
Philip Gore-Randall, Chief Executive Officer of Aon Risk Services, added: "Peter has been instrumental in creating the strong business that we have today and his leadership will be greatly missed. Meanwhile, we look to the future with the appointment of Joanna, who joins us with a strong background in developing and growing consumer-related insurance products."
Joanna Caparn said: "I am delighted to be joining Aon, which has established itself as a market leader in the provision of specialist insurance products in the UK. I look forward to working with the team to continue the development of the business."
About Aon
Aon Corporation (www.aon.com) is one of the worlds leading providers of risk management, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. The company has more than 600 offices and 54,000 professionals in 125 countries and sovereignties. Aon's global network, broad resources, industry knowledge and technical expertise helps leaders of businesses, associations, and public entities develop effective solutions to risks, issues and challenges, creating opportunities that generate efficiencies, improve profitability and build value.
Aon is an industry leader in a number of key areas including retail, reinsurance, wholesale and specialty insurance brokerage; captive management; human capital consulting; claims and loss cost management; and premium financing.
This press release contains 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, ultimate paid claims may be different from actuarial estimates and actuarial estimates may change over time, changes in commercial property and casualty markets and commercial premium rates, the competitive environment, the actual costs of resolution of contingent liabilities and other loss contingencies, the heightened level of potential errors and omissions liability arising from placements of complex policies and sophisticated reinsurance arrangements in an insurance market in which insurer reserves are under pressure, and the timing and resolution of related insurance and reinsurance issues relating to the events of September 11, 2001. Further information concerning the Company and its business, including factors that potentially could materially affect the Companys financial results, are contained in the Companys filings with the Securities and Exchange Commission.
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