Outsourcing Town Hall

Q2 2012

Outsourcing Town Hall

Q4 2012

Topics

Financial Results & Business Snapshots Technology HR BPO

Proprietary & Confidential 2

Financials & Business Snapshots

Key Metrics*– Aon Delivered Significant Progress in Q4 & 2012

Organic Revenue Solid growth across both Risk and HR Solutions in Q4, including

strong growth in Consulting Services of +8% Rate of organic revenue for 2012 has improved to +4% from

+2% in 2011, 0% in ‘2010 and -1% in 2009

Operating Margin In Q4, a +50bps increase in HR Solutions was primarily offset by

higher unallocated expenses For 2012, Risk Solutions increased+10bps as organic growth

and restructuring savings more than offset significant investments in the business

EPS In Q4, organic revenue, restructuring savings, lower effective tax

rate and effective capital management drove 9% growth Repurchased approximately $500 million of ordinary shares in

Q4 and $1.1 billion in 2012

  Q4 2012

   

1. Organic Revenue1   +4%   +4%

Prior Year   +3%   +2%

         

2. Operating Margin2 19.6%   18.6%

Y-o-Y change   -   -40 bps

3. Earnings per Share2   $1.27   $4.21Y-o-Y change   +9%   +4%

         

4. Free Cash Flow3   $484M   $1.2B

Y-o-Y change   +243%   +48%

         

* The key metrics above are non-GAAP measures that are reconciled in the appendix of this presentation 1 Organic revenue excludes the impact of foreign exchange, acquisitions, divestitures, transfers, reimbursable expenses and unusual items. Change in

organic revenue, a non-GAAP measure, is reconciled to the corresponding U.S. GAAP percent change in revenue in Appendix A of this presentation2 Certain noteworthy items impacted Operating Income and Earnings per Share in the fourth quarter and full year of 2012 and 2011. A Reconciliation of Non-

GAAP Measures for Operating income and Diluted Earnings per Share is in Appendix B of this presentation3 Free cash flow is defined as cash flow from operations less capital expenditures. This non-GAAP measure does not imply or represent a precise calculation

of residual cash flow available for discretionary expenditures. A reconciliation can be found in Appendix A of this presentation

Free Cash Flow Improved working capital performance (predominantly accounts

receivable) more than offset an increase in pension contributions

Record cash flow from operations of $1.4 billion in 2012

Proprietary & Confidential 4

Organic Revenue¹ – Solid Growth Across Each Segment

Q4 Americas: Solid growth across all regions: Latin

America, U.S. retail and Canada

International: Strong growth across Asia and emerging markets and modest growth in continental Europe, partly offset by a modest decline in Australia

Reinsurance: Strong growth in treaty globally driven by a favorable impact from pricing in the near-term and new business, partially offset by a significant decline in capital markets transactions and advisory business

    Q4 2012

       

Risk Solutions        

Americas   4% 3%

International   2% 3%

Retail   3% 3%

Reinsurance   2% 5%

       

Total Risk Solutions   +3% +4%

       

HR Solutions      

Consulting   8% 4%

Outsourcing   6% 5%

       

Total HR Solutions   +6% +4%

       

Total Aon   +4% +4%

Q4 Consulting: Strong growth in investment consulting,

pension administration services and talent and rewards consulting 

Outsourcing: Strong growth from HC exchanges, new client wins and demand for discretionary services in HR business process outsourcing, partly offset by a modest decline in benefits administration

1 Organic revenue excludes the impact of foreign exchange, acquisitions, divestitures, transfers, reimbursable expenses and unusual items. Change in organic revenue, a non-GAAP measure, is reconciled to the corresponding U.S. GAAP percent change in revenue in Appendix A of this presentation

Proprietary & Confidential 5

Q4 2012 Aon Financials

Q4 2012 Q4 2011 Change Vs. Prior Year Quarter

Aon Revenue (reported) $3.1 billion $3.0 billion 4%, 4% OCC

Aon Operating Income (adjusted) $610 million $588 million 4%

Risk Solutions (Retail and Reinsurance)

Revenue (reported) $2.1 billion $2.0 billion 2%, 3% OCC

Operating Income (adjusted) $475 million $464 million 2%

Operating Margin (adjusted) 23.2% 23.2% 0 bps

HR Solutions (Aon Hewitt)

Revenue (reported) $1.1 billion $1.0 billion 7%, 6% OCC

Operating Income (adjusted) $183million $165 million 11%

Operating Margin (adjusted) 17.0% 16.5% 50 bps

Consulting

Net Revenue (reported) $445 million $405 million 10%, 8% OCC

Outsourcing

Net Revenue (reported) $649 million $603 million 8%, 6% OCC

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INSERT BUSINESS FINANCIALS HERE

Note to presenters: We can not show specific financial results for Benefits, HR BPO, Exchanges, or Emerging Solutions due to external reporting guidelines. However, leaders in each organization will receive a separate slide for reporting their results. Insert the appropriate slide here based on your audience.

7Proprietary & Confidential

Aon Risk Solutions Full-Year 2012 Snapshot

Top-line growth of 3%, 3% Americas, 3% International

Strong double-digit growth in Asia, New Zealand, Latin America and EMEA AGRC and GRIP Solutions

Solid organic growth in US Affinity, France and emerging markets (Africa, Central and Eastern Europe)

Overall 7% revenue growth in Health & Benefits (4% Americas, 4% International 10% including EMEA 7%, Asia 23%, Pacific 9%)

Strong retention 92% and improved rollover 91% with slightly more favorable market environment

Double digit percentage PTI expansion in US Retail, Canada, Latin America, France, Africa, and Asia driven by growth and positive spread

Progress on key initiatives: Aon Broking, Aon Client Promise, Aon GRIP, Working Capital/Cash and on our Talent agenda

Challenging revenue and PTI in a number of businesses (i.e., Germany, Spain, UK Affinity, Latin America Affinity and Australia)

Overall weak new business in many geographies; overall improved in second half but was flat for the full year

Negative / minimal spread in key geographies constrained PTI and margin expansion

Salary increases (merits and off cycle increases) contributed to a 90 bp deterioration in the SIB-to-revenue ratio (our key metric determining margin) and put significant pressure on margins

Proprietary & Confidential 8

Aon Benfield Full-Year 2012 Snapshot

Annualized 5% organic revenue growth to USD1.5bn

Healthy 2% Q4 organic revenue growth to USD349m

5th consecutive quarter-on-quarter revenue growth across Treaty, Fac, Inpoint and capital markets business

7th consecutive quarter of positive new business won in Treaty

The Aon Benfield platform is unique: scale + analytics = client value

Measurable success from our Articulating Value programme

Record levels of reinsurance capital putting pressure on rates in certain lines of business

Pricing under pressure in some sectors

Potential for adverse development related to Hurricane/Superstorm Sandy

Lower reinsurance demand due to sluggish insurer demand growth in difficult economic environment

Very competitive insurance landscape is also putting pressure on reinsurance demand

Proprietary & Confidential 9

Aon Hewitt Full-Year 2012 Snapshot

Good PTI performance to plan Delivered solid growth of 4%

- Outsourcing: HR BPO, Emerging Solutions and Exchanges

- Consulting: U.S. Retirement, PRT, APAC, NA Communications

Growth rate accelerating in new areas: Investment Consulting, Pension De-Risking, Exchanges, Advisory

Regaining market innovator reputation

Near flawless enrollment season in Exchanges

Improvement in client retention and compression rates

Client satisfaction trending up Turning the corner on PeopleSoft

Year over Year PTI and margin decline driven by: – Outsourcing compression/losses – PeopleSoft impacts– Slow first half growth in Consulting– Investments

Macroeconomic concerns impacted demand in EMEA and APAC

Colleague engagement lagging other progress

Proprietary & Confidential

10

We Exceeded Our Plan Commitments on 2012 Pre-Tax Income

Much to be proud of this year, but still below our pre-tax income (PTI) results for 2011

$605MM

2011 Actual

2012 Plan

2012 Stretch Target

$668MM

$636MM

2012 Actual

$651MM

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Aon Hewitt’s Newest Line of Business: Health Care Exchanges

New medical plan enrollments compared to our target

Missed appointments

Appointments completed on time

Customer satisfaction in interactions with benefits advisors

Total plan enrollments for medical, dental, and vision

Total AE calls taken across 3 Corporate Exchange clients

AE calls answered in 30 seconds or less

Portion of enrollments completed online

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Aon Hewitt Navigators

104.9%

0

99.7%

92%

Corporate Exchange

95%

100,000

36,000

94%

Aggressively grow through both business-to-business and direct-to- consumer strategies

Deploy a new platform and website to enhance retiree experience and team productivity

Ramp up for increased enrollment volume for 2013 AE (3x 2012 levels)

2013 F

ocu

sA

E R

esults

Convert strong client interest into confirmed wins

Scale our operations to support the high demand for this solution

Differentiate our solution in the market—we offer a real exchange with true competition between carriers

Technology

Improving the Colleague Experience Through Technology Aon Technology continuously works to improve

colleague productivity—offering enhanced collaboration, conferencing, and communication tools.

Between now and Q2 2014, there are a number of impactful changes planned, including:

– Standardizing the Aon colleague desktop with Office 2010, Windows 7, and Aon AppStore.

– Increasing access to corporate email, calendar, instant messaging, and contacts through various mobile technologies.

– Making it easier to share files across the organization.

– Expanding voice and video capabilities.

– Standardizing North America printer, fax, copier, and scan equipment.

– Ensuring the Global Service Desk offers the highest quality standards.

Visit the Colleague Technology Experience site

to learn more and share your experiences.14

BPO

HR BPO

HR BPO 2012 Snapshot

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Clients

• Signed Morgan Stanley

• Several strong go-lives

• 7 renewals

• 2 significant client awards

• Lost 2 clients

Colleagues

• Achieved 11 Enthusiastic Client Certificates

• Implemented and invested in shared service models to maximize colleague development and quality delivery

• Launched incubation teams to help solve key business challenges

Sh

arehold

ers

• Revenues up YOY

• Margins down YOY

• Did not make plan

• Invested in OmniPoint

• Expanded Workday offer

• Invested in myHR

• Launched MERCURI to generate innovation

Client relationships very strong

Colleagues are the core of our business

Need to grow revenue and focus on margin

Proprietary & Confidential

Scale• Shared services• Operations• Structure/alignment

Growth

• SaaS/Workday BPO• OmniPoint• Core BPO solution

Our New Themes for 2013

17Proprietary & Confidential

Our Business Plan Balances the Interests of Our Three Primary Stakeholders

Achieve the short and long term business plan

Realize the return on our strategic and growth investments

Fulfill our full promise to clients

Deliver industry leading service excellence and operational effectiveness

Drive results through increased focus, business acumen and accountability

ColleaguesS

hareholdersC

lient

s

2

1 6

3

5

Foster a culture where colleagues can do their best work and new ideas are nurtured

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2013 HR BPO Goals

2

1

Aon Hewitt 2013 Goals BU Goals

Fulfill our full promise to clients

12+ BPO clients sign the Enthusiastic Client CertificateRetain all clients and core services

Deliver industry leading service excellence and operational effectiveness

Meet or exceed SLA performance in >98% of all opportunities on all BPO accounts

Increase off-shoring capability on current and future accounts Increase standardization and quality of service delivery

Drive results through increased focus, business acumen and accountability

Substantially increase SaaS capabilitiesDefine and implement multi-client operational teams on the

Workday platform Identify and grow next generation of managers

Foster a culture where colleagues can do their best work and new ideas are nurtured

Adopt shared services models to gain scale and leverage Implement cross-BPO specific engagement programs Increase internal talent movement within BPO

Realize the return on our strategic and growth investments

Integrate and grow OmniPoint Define and implement a valued and scalable Workday BPO

offer

Achieve the short and long term business plan

Meet or exceed sales targets for BPO Exceed 2013 PTI margin goals Meet or exceed all deal models Positively resolve all accounts with substantial contractual/

financial decisions in 2013

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4

6

5

Colleagu

esC

lientsS

ha

reh

old

er

s

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