Combined Insurance Company of America acquires Employee Benefit Communications

Business Wire, April 11, 1996

CHICAGO--(BUSINESS WIRE)--April 11, 1996--Today, Combined Insurance Company of America (Combined Insurance) announced the acquisition of Employee Benefit Communications (EBC) of Tampa, Florida.

EBC is a leading employee enrollment firm providing worksite marketing of voluntary benefit insurance products.

Richard M. Ravin, chairman and CEO of Combined Insurance remarked, "Founded in 1919, Combined Insurance built its global insurance business by focusing on the sales of its individual life, accident and health products to individuals at their place of business. The acquisition of EBC and recent creation of Combined Benefit Services, our worksite marketing unit, compliments the successful strategy upon which Combined was founded. EBC, a leader in employee enrollment programs will accelerate Combined's growth in the voluntary benefits market by coordinating enrollment at the worksite. The talented team at EBC will bring valuable experience and expertise to our organization."

Kenneth P. Hallen, vice president of Combined Insurance responsible for Combined Benefit Services said, "EBC, which manages a large network of corporate enrollers, will augment Combined Benefits Services' worksite marketing of its voluntary benefits products. EBC will continue to provide valuable services to their existing corporate and insurance company clients while seeking opportunities to grow their market share."

Michael L. Castle, founder of Employee Benefit Communications stated, "Combined's vast resources and quality products will strengthen and significantly enhance our ability to serve our existing markets and expand our business. We look forward with enthusiasm to being part of the Combined organization and continuing to grow our markets."

With more than five million policyholders, Combined Insurance has more individual accident and health policies in force than any other U.S. company. Combined Insurance is a leading underwriter of supplemental accident and health, life insurance for individuals in North America, Europe, Latin America and the Pacific.

Combined Insurance Company of America is a subsidiary of Aon Corp. Aon Corp. is a holding company that comprises a family of insurance brokerage, consulting and insurance underwriting companies and is listed on the New York Stock Exchange.

CONTACT: Combined Insurance Company of America

Kenneth Hallen, 847/205-2044