AON Posts First-Quarter Growth

Aon Corporation today reported results for the first quarter that ended March 31, 2008, with net income increasing 2% to $218 million or $0.68 per share, compared to $213 million or $0.66 per share for the prior year quarter. Net income from continuing operations increased 8% to $179 million or $0.56 per share, compared to $165 million or $0.51 per share for the prior year quarter.  
 
"Our first quarter results demonstrate continued progress and momentum in each of our three key operating metrics despite soft market conditions globally. Organic revenue growth was two percent in our brokerage segment and four percent in consulting services, adjusted pretax margin increased 180 basis points with significant improvement in our consulting business, and adjusted earnings per share from continuing operations increased 25 percent," said Greg Case, president and chief executive officer, Aon Corporation.  
 
"We continue to take steps to solidify our position as the leading risk advice and human capital solutions provider. During the quarter, we continued to invest significantly in areas such as construction, environmental and integrated capital solutions in reinsurance. We recently completed the sales of our more capital-intensive insurance underwriting businesses. And, our balance sheet remains strong, even as we have repurchased $860 million of our common stock year-to-date. These actions demonstrate continued belief in the underlying strength of Aon and our ongoing commitment to creating long-term value for our shareholders."

Published on May 2, 2008