8 February 2016 Insurance

Aon posts solid profits despite volatility and headwinds

Broker Aon has reported a slight dip in its profits for 2015. It posted a net income of $1.42 billion, compared with $1.43 billion in 2014 – a decrease of one percent.

Its total revenues for 2015 also decreased by 3 percent to $11.7 billion due to a 6 percent unfavorable impact from foreign currency translation, partially offset by 3 percent organic growth in commissions and fees.

Its Risk Solutions division posted a total revenue decrease of 5 percent to $7.4 billion and its HR Solutions unit’s revenue increased by 1 percent to $4.3 billion.

During 2015, Aon repurchased approximately 16 million Class A Ordinary Shares for $1.6 billion at an average price of $97.04 per share.

Greg Case, president and chief executive officer, Aon, said: "Overall, our results reflect a strong performance for both the fourth quarter and the full year 2015.

“In a year of substantial volatility driven by macroeconomic factors and industry headwinds, we continued to invest heavily in client-serving capabilities across our industry-leading platform.

“"These investments, combined with the leadership of our colleagues around the globe, contributed to our strongest quarterly rate of organic growth in Risk Solutions since 2007, record operating margins in both segments, record free cash flow of $1.7 billion, and the return of $1.9 billion of capital to shareholders."

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