Revenues and commissions remain flat at $5.6bn
Aon’s after tax profits dropped 4% as revenues from commissions and fees remained flat during the first half of 2012.
The global insurance broker posted net income of $522m in the six months to 30 June 2012 (2011: $503m).
Net income for the quarter fell 5% to $246m for the second quarter of 2012 (2011: $258m).
Revenues from commissions and fees were $5.6bn for H1 (2011: $5.5bn).
Aon president and chief executive Greg Case said: “Our second quarter results reflect improved organic revenue growth across all of our major businesses as we make significant investments to further strengthen our client-serving capabilities.
“While macro conditions remain fragile globally, we continue to anticipate improved performance in the second half of the year, our underlying performance is on track with our long-term targets and we have completed significant steps to position the firm for long-term growth, strong free cash flow generation and increased financial flexibility as highlighted by the repurchase of $250 million of ordinary shares in the quarter.”
Shareholders’ equity remained flat at $8.2bn during the same period (2011: $8.1bn).
No comments yet