Aon 2Q Profit Rises, Revenue Falls

Aon PLC said its profit rose for the second quarter, a period that included economic volatility brought on by the Covid-19 pandemic.

Source: Morningstar | Published on July 31, 2020

Aon on Jan 1 renewals

The London-based insurer on Friday posted net income of $398 million, or $1.70 a share, compared with $277 million, or $1.14 a share, in the year-ago period.

Adjusted earnings were $1.96 a share. Analysts polled by FactSet were expecting adjusted earnings of $1.93 a share.

"We are living in a time of increasing economic and geopolitical volatility--as evidenced by the COVID-19 pandemic and broader social injustice and unrest--which demands action within our firm and on behalf of clients," Chief Executive Greg Case said.

Revenue fell 4% to $2.5 billion in the year-ago period, or down 1% on an organic basis. Analysts were looking for $2.55 billion. The company said revenue was down partly because of foreign currency translation.