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Aon announces share buyback

Aon’s board has approved a $US5 billion ($5.77 billion) share buyback, with President and CEO Greg Case saying the company has strong free cashflow.

The sum is in addition to $US1.1 billion ($1.27 billion) outstanding from a buyback announced in April 2012.

Mr Case says Aon has repurchased 7% of its stock in the first nine months of this year.