The founder of Aon, Patrick G. Ryan, said he is "bullish" aboutthe future of the world's second-largest insurance brokerage as itmarks its 20th anniversary, predicting far more growth to come.

Mr. Ryan, now Aon's executive chairman, was also president andchief executive officer until 2005, when Gregory Case was named tothose posts. He made his observations on the state of his brokeragetoday during a teleconference call to discuss the firm'sanniversary.

Mr. Ryan said that when looking at the growing markets indeveloping nations, the need for the advisory role theChicago-based insurance brokerage firm plays will be even moreacute.

He said the role of the "broker and advisor is more importantthan ever" throughout the world as the "identification of riskbecome more complex."

"We believe that this is a business that is all about theclient," said Mr. Ryan, "and we will conduct ourselves withintegrity that is centered around the client. I think that would bea great legacy, and I think we have done that."

It was 20 years ago, he explained, that a company of manydiverse names was put under one umbrella named Aon. The intent ofchoosing the name--a Gaelic word meaning "oneness"--was in itsmeaning, and also something that would be easily remember in thebusiness world. It now stands for one of the world's largestinsurance brokerage and reinsurance brokerage firms in the world,he added proudly.

He said the firm has reached the vision he had for it 20 yearsago of becoming a global brokerage firm. The turning point, saidMr. Ryan, was the acquisition of Hudig-Langeveldt in the early1990's, which was a Dutch brokerage firm that eventually became theplatform from which Aon would grow overseas.

He noted that at the time, many thought the brokerage businesswas in decline due to the rise of direct writers and technology.But the complexity of risk has only reinforced the need for theinsurance broker, he said, adding, "The conventional wisdom waswrong at that time."

Overall, he said, there were few regrets for the company, withthe exception of some acquisitions and execution of plans, but allof those events proved to be learning experiences in the firm'sgrowth.

Mr. Ryan said that despite the activity of some private equityfirms to take insurance brokerage firms private, he believes Aonwill always remain a public company. He called the private equityfirms' activities a validation of the brokerage model he envisioned20 years ago.

"It is a great statement in the belief in the role of the brokerthat people are investing and taking some of these brokers private,because they believe that the best days for the industry areahead," Mr. Ryan observed.