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AON's net income more than doubled in Q2

The risk and insurance brokerage services provider AON reported a net income attributable to shareholders of USD 769 million (or USD 2.93 per share) for Q2 2017, compared to USD 300 million (USD 1.11 per share), for the prior year quarter.

At the same time, AON said its Q2 total revenue increased 4% to USD 2.4 billion compared to the prior year period driven primarily "by 3% organic revenue growth and a 3% increase related to acquisitions, net of divestitures, partially offset by a 2% unfavorable impact from foreign currency translation".

By divisions, Commercial Risk Solutions' total revenue totaled USD 1.04 billion, while Reinsurance Solutions revenue was USD 344 million. In case of the other three divisions (Retirement Solutions, Health Solutions and Data & Analytic Services) the same indicator amounted to USD 389 million, USD 312 million and USD 285 million.

Total operating expenses in the second quarter increased 31% to USD 2.5 billion, of which USD 155 million were restructuring expenses "primarily driven by workforce reductions".

Author: Vlad BOLDIJAR on 10.08.2017

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