Aon Corporation Reaches Agreement in Principle to Acquire Auto Insurance Specialists, Inc.

Aon Corporation has reached an agreement in principle to acquire Auto Insurance Specialists, Inc., a Hermosa Beach, CA-based company, specializing in preferred, standard and non-standard auto insurance coverage. Terms of the agreement were not disclosed.

The transaction is subject to satisfactory completion of due diligence, approval by the parties' respective boards of directors, execution of definitive agreements and requisite regulatory approvals.

Aon Corporation is an insurance services company that comprises a family of insurance brokerage, consulting and insurance underwriting subsidiaries.