18 November 2014 Insurance

Aon authorises additional $5bn share buyback

Aon has authorised a new $5 billion share repurchase program, upping the total authorisation to $6.1 billion.

Aon said it intends to complete this repurchase programme before repurchasing shares under the new programme.

“Today’s announcement continues to demonstrate our belief in the underlying strength of the firm, strong free cash flow generation outlook and our continued focus on maximizing total return for shareholders,” said Greg Case, president and chief executive officer. “We have returned a record amount of capital to shareholders through the first nine months of 2014, highlighted by the repurchase of 20.4 million shares, equivalent to 7 percent of actual shares outstanding as of September 30, 2014, for a total of $1.75 billion.”

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