Global insurance broker and risk management firm Aon Corp. reported that net income rose 19 percent in the fourth quarter 2011 to $277 million and overall revenues increased 3 percent to $3 billion.
Fourth quarter operating income decreased 8 percent to $345 million.
Risk Solutions, which includes retail insurance and reinsurance brokerage services, saw total revenue increase 3 percent to $1.8 billion compared to the prior year quarter due primarily to 3 percent organic growth in commissions and fees, according to the financial release.
Retail brokerage organic revenue increased 2 percent reflecting revenue growth in both the Americas and international businesses. Americas organic revenue increased 3 percent primarily as a result of management of the renewal book in Latin America and the U.S. and new business growth in both Canada and Latin America. International organic revenue increased 1 percent driven by growth in Asia and emerging markets, partially offset by challenging macro-economic conditions in continental Europe. Reinsurance organic revenue increased 4 percent due primarily to strong growth in capital market transactions and advisory business and modest growth in global facultative placements.
Compensation and benefits revenue for the fourth quarter increased 5 percent, or $48 million, while the human resources segment’s total revenue increased 3 percent to $1.2 billion.
Topics Profit Loss Aon
Was this article valuable?
Here are more articles you may enjoy.
Florida’s Commercial Clearinghouse Bill Stirring Up Concerns for Brokers, Regulators 
Trump’s Repeal of Climate Rule Opens a ‘New Front’ for Litigation 
Fingerprints, Background Checks for Florida Insurance Execs, Directors, Stockholders? 
Trump’s EPA Rollbacks Will Reverberate for ‘Decades’ 
