Aon reveals new $5bn share repurchase programme
Re/insurance broker Aon's board has authorised a new $5 billion share repurchase programme, which increases its total authorisation to $6.1 billion.
The programme is in addition to Aon's existing share repurchase programme authorised in February 2017, which had approximately $1.1 billion of remaining authorisation, as of September 30, 2020.
Aon intends to complete the existing programme before repurchasing shares under the newly authorised programme.
Including the newly authorised programme, up to $6.1 billion of Aon's Class A ordinary shares may be purchased on the open market, in block trades, in privately negotiated transactions, depending on market conditions or other
The programme does not obligate Aon to acquire any particular amount of shares and may be suspended or discontinued at any time.
Greg Case, Aon's chief executive officer, said: "We are committed to maintaining our strong position of financial stability and flexibility, while continuing to allocate capital to the highest ROIC opportunities.
"Today's announcement demonstrates our conviction in our colleagues' ability to drive long-term growth of the firm, which we believe will be further accelerated by our pending combination with Willis Towers Watson and result in significant shareholder value creation."
