Aon, the world's second-largest broker, posted a better-than-expected rise in quarterly earnings as higher premium rates boosted its results.
The Chicago-based company said its second-quarter earnings were $146m (£90m) compared with the same period a year earlier. Aon's revenue grew by 15% to $2.4 billion (£1.5 billion) based on strong demand, it said.
However its insurance underwriting operations showed an 8% decline in revenue to $692m (£430m).
Aon said its brokerage businesses still managed to perform better than a year earlier, and added it still expected its brokerage margin for 2003 to exceed that recorded in 2002.
