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News and Information Article
Press Events Today in New York, London and Rotterdam Launch Latest Edition of
Risk Map
CHICAGO, Jan. 10 /-FirstCall/ -- United States-based companies
with business interests abroad will not be trading in a safer world in 2006 --
according to Aons annual global business risk analysis represented in its
2006 Political & Economic Risk Map. Published today by Aon (NYSE: AOC), a
leading insurance broker and risk management consultant, the map shows that
critical sourcing partners and important supply-chain stress points still
remain a serious threat to the worlds global trade economy.
(Logo: http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO )
Each year, Aon Trade Credit evaluates the political and economic risks for
multinational corporations in more than 200 countries. This years analysis
was developed in partnership with Oxford Analytica ( http://www.oxan.com ), an
international, independent consulting firm drawing on more than 1,000 senior
faculty members at Oxford and other major universities and research
institutions around the world.
Of the 23 countries upgraded in Aons 2006 analysis, many are important in
global trading, yet remain dangerous places for businesses to operate. Two
examples of the increasingly complex world of international political risk are
Indonesia and Colombia. The political and economic risk ratings for both
countries have improved from high to medium-high, even though both nations
still present a significant risk to corporations doing business there.
Significant trends for 2006 Political and Economic Risk Map are:
Increased risk in Latin America. The emergence of more left-wing
governments in Latin America is causing concern for foreign businesses.
Companies doing business in Venezuela and Bolivia are facing higher taxes,
revision of contracts and threatened expropriation of assets. In addition to
Bolivia, four other Latin American countries, Belize, Costa Rica, Guatemala
and Nicaragua, were downgraded on the 2006 map.
"Despite upgrades to Colombia and Brazil, political and economic risk in
Latin America is on the rise just as the region is becoming a more attractive
trade and sourcing partner," said Bryan Squibb, managing director, Aon Trade
Credit. "The Central American Free Trade Agreement (CAFTA) and other factors
have enticed companies to look to Latin America for investment opportunities
such as textile manufacturing. However, companies looking to do business in
the region must be aware of the potential risks. Failure to implement a risk
management strategy can put companies in dire straits should an overseas asset
or investment become compromised."
Supply Chain Risk Index: The Supply Chain Risk Index rates countries that
pose the greatest threat to U.S. companies supply chains. Country scores,
ranging from one (best) to five (worst), are based on how risky a country is
for sourcing and how prominently the country figures into U.S. supply chains.
The 2006 Supply Chain Risk Index compares 2006 findings with those from 2000.
"Understanding the nature of supply chain risk exposures, and where they
occur most frequently, is now a board-level priority," Squibb says.
"According to recent studies, companies share prices decline by about 10
percent on average following announcements of supply chain disruptions."
Added Sam Wilkin, senior consultant, Oxford Analytica: "By evaluating
Supply Chain Risk Index scores from 2000 and 2006, companies can identify
trends and develop a risk strategy to limit exposure. Looking at the five-year
comparison, three trends stand out: First and foremost is the increasing risk
of doing business in Venezuela, which because of its oil reserves has become
an important trading partner; secondly, the 2000/2006 comparison vividly
demonstrates the growing importance of India, Brazil and Nigeria in U.S.
supply chains; and thirdly, China, which continues to be a crucial sourcing
partner, but one that also presents significant risk."
About Aon
Aon Corporation ( http://www.aon.com ) is a leading provider of risk
management services, insurance and reinsurance brokerage, human capital and
management consulting, and specialty insurance underwriting. There are 47,000
employees working in Aons 500 offices in more than 120 countries. Backed by
broad resources, industry knowledge and technical expertise, Aon professionals
help a wide range of clients develop effective risk management and workforce
productivity solutions.
About Oxford Analytica
Oxford Analytica ( http://www.oxan.com ) provides timely and authoritative
analysis on a daily basis of world developments to some 45 governments and
over 150 major corporations and financial institutions.
For more information, or to request a copy of the 2006 Political and
Economic Risk Map, contact:
Thaddeus Woosley, Aon Corporation, 312.381.2446, Thaddeus_Woosley@aon.com
Al Orendorff, Aon Corporation, 312.381.9153, Al_Orendorff@aon.com
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 implement the stock repurchase program, 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, and ERISA class actions, 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
Companys financial results, is contained in the Companys filings with the
Securities and Exchange Commission.
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