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).
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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