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RBC Insurance signs agreement with Aon Reed Stenhouse to
expand business insurance offering
TORONTO, June 10, 2008 — RBC Insurance announced
today that it has signed an agreement with Aon Reed Stenhouse
(Aon), making Aon its exclusive broker for competitive and
comprehensive commercial property and casualty and trade credit
insurance solutions to Canadian business owners.
"RBC Insurance is committed to helping Canadian business
owners understand how insurance can help mitigate their business
risks," said Neil Skelding, president & CEO, RBC
Insurance. "Our agreement with Aon combined with our
existing products and services will enable us to provide Canadian
businesses - large and small - with innovative advice and
effective solutions tailored to meet their insurance needs."
As the world's leading risk management service insurance
brokerage firm, Aon will provide business owners with a platform
built on service, convenience and a superior customer experience,
as well as access to its specialized industry expertise.
"RBC Insurance business clients will benefit from being
presented with multiple options from a group of insurers,
rather than just one," said Chris Fawcus, president and
CEO, Aon Reed Stenhouse. "These principles of counselled
choice and advocacy represent the same value we have been
providing Canadian businesses for the past 125 years."
About RBC Insurance
RBC Insurance provides a wide range of life, health, travel,
home, auto, business and reinsurance products as well as creditor
insurance services to more than five million clients in Canada,
the U.S. and internationally. These products and services
are offered through a wide variety of distribution channels,
including the telephone, independent brokers, travel agents,
a proprietary sales force and the Internet. More information
is available at www.rbcinsurance.com.
About Aon
Aon Corporation (NYSE:AOC) is the leading global provider
of risk management services, insurance and reinsurance brokerage,
human capital and management consulting. Through its 36,000
colleagues worldwide, Aon readily delivers distinctive client
value via innovative and effective risk management and workforce
productivity solutions. Our industry-leading global resources,
technical expertise and industry knowledge are delivered locally
through more than 500 offices in more than 120 countries.
Aon was named the world's "best broker" by Euromoney
magazine's 2008 Insurance Survey. Aon also was ranked by A.M.
Best as the number one global insurance brokerage in 2007
based on brokerage revenues, and voted best insurance intermediary,
best reinsurance intermediary, and best employee benefits
consulting firm in 2007 by the readers of Business Insurance.
For more information on Aon, log onto www.aon.com.
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Contact:
Kerry Gaetano,
Director, Employee & Business Communications,
RBC Insurance,
905-816-5583, kerry.gaetano@rbc.com
Stephen Barrigar,
Manager, Corporate Communications,
Aon Reed Stenhouse Inc.,
416-868-5724, Stephen.barrigar@aon.ca
Safe Harbor Statement
This press release contains certain statements related to
future results, or states our intentions, beliefs and expectations
or predictions for the future 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: general economic conditions
in different countries in which we do business around the
world, changes in global equity and fixed income markets that
could affect the return on invested assets, fluctuations in
exchange and interest rates that could influence revenue and
expense, rating agency actions that could affect our ability
to borrow funds, funding of our various pension plans, changes
in the competitive environment, our ability to implement restructuring
initiatives and other initiatives intended to yield cost savings,
our ability to successfully execute strategic options for
our Combined Insurance subsidiary, the impact of current,
pending and future regulatory and legislative actions that
affect our ability to market and sell, and be reimbursed at
current levels for, our Sterling subsidiary's Medicare Advantage
health plans, changes in commercial property and casualty
markets and commercial premium rates that could impact revenues,
changes in revenues and earnings due to the elimination of
contingent commissions, other uncertainties surrounding a
new compensation model, the impact of investigations brought
by state attorneys general, state insurance regulators, federal
prosecutors, and federal regulators, the impact of class actions
and individual lawsuits including client class actions, securities
class actions, derivative actions, ERISA class actions, the
impact of the analysis of practices relating to stock options,
the cost of resolution of other contingent liabilities and
loss contingencies, and the difference in ultimate paid claims
in our underwriting companies from actuarial estimates. Further
information concerning the Company and its business, including
factors that potentially could materially affect the Company's
financial results, is contained in the Company's filings with
the Securities and Exchange Commission.
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