Aon founder Patrick G. Ryan named to Insurance Hall of Fame

GLOBAL LEADERS NAMED TO INSURANCE HALL OF FAME

New York, New York  -- May 5, 2008 -- The International Insurance Society (IIS) today announced three insurance leaders as the 2008 winners of the prestigious Insurance Hall of Fame Award, Dominic D’Alessandro, Canada, G.S. Diwan, India, and Patrick Ryan, USA. They will be honored during the gala dinner at the 44th IIS Annual Seminar, this year to be held at the Grand Formosa Regent Taipei, July 14, 2008.

Dominic D’Alessandro was appointed President and Chief Executive Officer of Manulife Financial in 1994. His decisive leadership has transformed Manulife from a mutual insurance provider valued at approximately $2 billion to an international, diversified financial services leader with a market capitalization of more than $60 billion and has led the company to record financial performance.

Manulife is now among the most profitable life insurance companies in North America, and a world leader in the financial services industry. In 2004, he managed the largest cross-border transaction in Canadian history by merging with John Hancock Financial Services, creating the second largest life insurance company in North America and the fourth largest in the world, at that time.  Mr. D’Alessandro continues to promote Manulife’s values, established under his leadership, summarized by the acronym PRIDE, which stands for Professionalism, Real Value to Customers, Integrity, Demonstrated Financial Strength, and Employer of Choice.

Legendary actuary, Professor G. S. Diwan (1901-1987), was instrumental in the development of the actuarial profession in India. He taught mathematics and actuarial science in Elphinstone College and Sydenham College and through his excellent teachings inspired many young mathematicians to embark on an actuarial career. While his most significant contribution was as India’s foremost teacher of actuarial science, he also achieved considerable distinction as a consultant in other areas, centered on life office valuations, valuations of life interests, gratuity valuations and government service. After his retirement he worked for the Government of Bombay and as a consultant in non-life insurance.  

Patrick G. Ryan is the founder and Executive Chairman of Aon Corporation - the world's largest insurance and reinsurance intermediary, and a global leader in risk management, insurance and reinsurance brokerage, and consulting - which has its origin in a small insurance agency he started in 1964. Under Ryan’s leadership the company continued to expand through organic growth and acquisition, and in 1987 changed its name to Aon Corporation.

Mr. Ryan developed one of the most sophisticated management structures in brokerage: networks of local resources delivering services around the world, with expertise to do business in specific locations, not just from headquarters.  He was also an early proponent of the power of intellectual capital as a strategic business tool and advantage. Today Aon operates with more than 500 offices in over 120 countries generating revenues in excess of $7 billion.

To qualify for induction in the Hall of Fame, Laureates must have demonstrated outstanding leadership and to have made a significant and lasting contribution to the insurance industry and thereby also to society as a whole. Members of the Hall of Fame are selected by the membership of the International Insurance Society in a secret, independently audited ballot. There are currently 119 laureates in the Insurance Hall of Fame from more than 20 countries.

Laureate biographies, photos and videos are available at www.InsuranceHallofFame.org. Information can also be obtained by visiting the Claire and Joseph Smetana Gallery located at St. John’s University in New York City.

The Insurance Hall of Fame is sponsored by the International Insurance Society, Inc., a non-profit association of insurance executives with almost 1000 members representing 90 nations, located in New York. The Insurance Hall of Fame was instituted in 1957 by the Griffith Foundation for Insurance Education, Columbus, Ohio and later moved to The University of Alabama.