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Aon Sees Q2 Profits Up 69%

Posted on 29 Jul 2011

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Aon Corp.'s second-quarter profit jumped 69% as the insurance brokerage and consulting firm posted better-than-expected revenue and saw recent acquisitions lift results in its human resources unit.

Aon has posted better-than-expected revenue in recent quarters, as its top line has benefited from a $4.9 billion acquisition last year of human resources firm Hewitt Associates.

Aon reported a profit of $258 million, or 75 cents a share, up from $153 million, or 54 cents a share, a year earlier. Earnings from continuing operations rose to 83 cents from 81 cents.

Total revenue surged 48% to $2.81 billion, helped by a jump in revenue from commissions and fees.

At the risk and brokerage services unit, total revenue rose 8.9% from a year earlier. The HR solutions unit saw its revenue more than triple, helped primarily by the Hewitt acquisition.