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Aon makes gains across the board

Aon’s second-quarter profit grew 156% to $US769 million ($968.63 million) thanks to growth in all major lines.

Revenue increased 3.8% to $US2.4 billion ($3.02 billion).

Organic growth was at 3%, compared with 2% in the corresponding last year, while organic growth in reinsurance solutions was at 6%.

The company bought back 8 million Class A ordinary shares in the quarter for about $US1 billion ($1.25 billion).

President and CEO Greg Case says Aon is on track to exceed its forecast for next year of $US7.97 ($10.04) adjusted earnings per share.

“Our second-quarter results reflect growth across all major lines of revenue, solid operating performance, with 110 basis points of adjusted operating margin improvement, and 13% earnings per share growth, highlighted by the repurchase of $US1 billion of stock in the quarter,” he said. 

Aon completed the sale of its benefits administration and human resources business process outsourcing platform in the quarter, for cash consideration of $US4.3 billion ($5.41 billion).

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