New business contributed to organic growth of 6% in Q4
Aon’s UK retail broking revenue fell 3% to $629m (£392.1m) in the year ended 31 December 2010, from $650m the previous year.
Organic revenue fell 2%, and currency fluctuations had a negative impact of 1%.
However, in the fourth quarter of 2010, Aon’s UK broking revenue grew 4% to $193m from $186m during the same period the previous year. It grew organically by 6%, but currency fluctuations had a negative impact of 2%.
Aon attributed the 6% organic growth mainly to new business and affinity business.
Globally, Aon made a net profit of $706m in 2010, down 5% from the $747m it made in 2009. Profit for the fourth quarter alone was up 17% to $231m from $198m.
Aon’s total revenue for 2010 increased 12% to $8.5bn due to a 12% rise in commissions and fees resulting from acquisitions.
Its main purchase was human resources consultancy Hewitt Associates, which the broker bought on 1 October last year.