Global broking leader Aon, has posted a 78% rise in profit over the last quarter.
The Chicago-based insurer also said it plans to raise £642m in new capital. It confirmed it has shelved plans to sell its major underwriting subsidiaries.
Aon said its third-quarter earnings were £81m compared with £45m a year earlier. Third-quarter earnings rose thanks to new outsourcing projects and increased premium rates that boosted underwriting performance.
The company added that its fourth-quarter and full year earnings per share would be well above consensus estimates of 37 pence and £1.03, respectively.
The company said it expected a reduction in year-end shareholder equity by £289m to £353m because of higher pension costs. This is expected to negatively impact future financial results.
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.
