Question-and-Answer Session
Operator
(Operator Instructions). And first question is from the line of Keith Walsh with Citi. Please go ahead.
Keith Walsh - Citigroup
Hey good morning everybody.
Christa Davies
Good morning, Keith.
Gregory Case
Hi, Keith.
Keith Walsh - Citigroup
First for Greg; if we just think about revenues, okay, thinking about for '09, looking at new business here. First if you could talk about... are you still a market share taker? I know in the past you've said you on your income statement, you are seeing business at a 2:1 rate coming on versus leaving.
Secondly, thinking about the investments you guys have been making for several years now, I think we're starting to see a real divergence in your results versus some of the others. Maybe if you can quantify those investments in the people that you've brought to Aon, what they've done on the revenue side. And then just the bottom line for '09; in this environment assuming some more deterioration in the economy, can you grow your top line? And then I have a follow up for Christa. Thanks.
Gregory Case
Okay. Thanks Keith, I appreciate it. I will try to get those. I will start with your question around what's happening. I think we're really more in the share area, balance of trade et cetera. I think we've seen... we continue to be very fortunate in our win rates that we continue to track both in the RFP scenarios, as well as in situations, where we initiate.
And what I am very pleased to say is as we brought together global ARS and really thought about how we bring global capability of Aon on to our clients in a very intimate local way, we are increasing our ability to get the clients anticipate needs and addressed needs before their RFPs. And that showed up very clearly in the fourth quarter, where on the renewals side, we are able to do a number of things from a renewal standpoint that were actually quite compelling and showed up in the results.
I would tell you in terms of just movement of business; it's interesting to watch the fourth quarter in 2008 versus what's happening in 2009. The fourth quarter 2008 was very much like for us the post Katrina, in which you saw clients are focused not on their brokers as they shouldn't be, they're focused on their situations and their insurers. And so, there was less movement in the fourth quarter as they focused on their insurers, and now much more movement in the first quarter as they focus on solutions.
- To read the full transcript on Seeking Alpha, click here »
