AON reports 1Q revenue of USD 2.9 billion, up 1% y-o-y

8 May 2014 — Vlad BOLDIJAR
aon2The risk and insurance brokerage services provider AON reported a net income attributable to shareholders of USD 325 million for the first three months of the year, up from USD 261 million in the first quarter of 2013. Total revenue increased by 1%, to USD 2.9 billion during the first quarter (over Q1 in 2013).

By divisions, Risk Solutions' total revenue increased by 1%, to USD 2.0 billion (Q1 operating income increased by 10% y-o-y, to USD 445 million), while HR Solutions' total revenue increased also by 1%, to USD 965 million (operating income increased by 31%, to USD 67 million).

"Our first quarter results reflect a solid start to the year with double-digit earnings growth, highlighted by strong performance across Risk Solutions and effective capital management," Greg CASE, President and Chief Executive Officer of AON said in a statement.

"We are returning a record amount of capital to shareholders, highlighted by the repurchase of USD 600 million of ordinary shares in the quarter and the recently declared 43% increase in our quarterly cash dividend, while continuing to invest in innovative solutions across the firm to strengthen our industry-leading platform for long-term growth, strong free cash flow generation and increased financial flexibility."

Read the full release here.

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