Aon Announces Completion of Acquisition of Auto Insurance Specialists

Business Wire, Oct 5, 1998

CHICAGO--(BUSINESS WIRE)--Oct. 5, 1998--Aon Corporation (Aon) today announced the completion of the acquisition of Auto Insurance Specialists (AIS).

Headquartered in Hermosa Beach, California, AIS is an insurance broker specializing in preferred, standard and non-standard automobile insurance coverage. Terms of the transaction were not disclosed.

The acquisition is being accounted for on a pooling of interests basis. In order to comply with pooling of interest accounting rules, Aon Corporation rescinded its general authorization to repurchase Aon common stock for treasury. The rescission does not affect the systematic repurchase of Aon common stock for treasury to be used in connection with the company's newly adopted employee stock purchase plan.

Aon is an insurance services holding company that comprises a family of insurance brokerage, consulting and consumer insurance companies. Aon's common stock (Symbol AOC) is listed on the New York, Chicago, and London stock exchanges.