The Investment Committee ("Committee") was established at the May
16, 2003 meeting of the Aon Corporation board of
directors. The Committee is charged with: (1) Underwriting units investment
oversight; (2) Longer-term investments underlying business units other than
Underwriting oversight; and, (3) Global benefit plans investment performance
(1) Underwriting Segment Investments Board of
directors or committees thereof at each Underwriting unit will adopt and
implement an Investment Policy and Guideline for that unit. The respective
Policy and Guideline will be compliant with all regulatory requirements. The
board or committee thereof will be charged with responsibility for directing
activity in accordance with the Policy and Guideline. Investment
Policy will contemplate liability characteristics and stockholders' equity of
the underwriting unit. The Guideline will provide managers with stated
performance benchmarks to be attained. Quarterly investment performance
compared to benchmarks shall be reported to the Aon
board Investment Committee for its review.
(2) Longer Term Investments Underlying Business Units Other Than
Underwriting The Aon board
Investment Committee will review all longer term, private placement
investments underlying business units other than Underwriting. Investment
performance of such investments will be reported to the Committee.
(3) Global Benefit Plans Benefit plan oversight is
responsibility of the Trustees and Investment Committees of each plan. The Aon board Investment Committee shall receive
informational reports regarding the investment performance of the plans.