AON Q1 revenues down 3% due to the negative currency impact

13 May 2015 — Vlad BOLDIJAR
The risk and insurance brokerage services provider AON reported a net income attributable to shareholders of USD 328 million for the first three months of the year, up from USD 325 million in the first quarter of 2014, while the net income per share attributable to AON shareholders increased 7% to USD 1.37, compared with USD 1.28 in the prior year quarter.

"Our first quarter results reflect a solid start to the year with seven percent earnings growth despite a significant headwind from foreign currency translation," said Greg CASE, President and Chief Executive Officer.

Total revenue decreased by 3.3% y-o-y to USD 2.84 billion "driven primarily by a 7% unfavorable impact from foreign currency translation, partially offset by 3% organic revenue growth and a 1% increase in commissions and fees related to acquisitions, net of divestitures", the company noted in a statement.

By divisions, Risk Solutions' total revenue was down by 5%, to USD 1.89 billion, while HR Solutions' total revenue also increased by 1%, to USD 970 million.

The operating income was USD 412 million in case of Risk Solutions (vs. USD 445 million in 1Q2014), while in case of HR Solutions the same indicator increased to USD 76 million vs. USD 9 million a year before.

Read the full release here.

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