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Aon Q2 2013 net income down by 2% to $241m

Global insurance broker Aon has posted net income attributable to its shareholders from continuing operations to $241m, or $0.76 per share, for the second quarter of 2013, down by 2% to $247m, or $0.73 in 2012.

Aon president and CEO Greg Case said, "Our second quarter results reflect organic growth across each of our major segments, continued margin improvement in Risk Solutions, twenty percent growth in free cash flow and the repurchase of $225 million of ordinary shares in the quarter."

For the second quarter completed on 30 June 2013, its total revenue grew by 3% to $2.9bn against $2.8bn compared to prior year quarter, mainly backed by a 3% increase in organic revenue and a 1% increase in commissions and fees.

Risk Solutions total revenue rose by 2% to $1.94bn, due to 3% organic growth in commissions and fees, partially offset by a 1% unfavorable impact from foreign currency translation and a 25% decline in investment income.

HR Solutions total revenue surged by 3% to $956m, mainly driven by 2% organic growth in commissions and fees and a 1% increase in commissions and fees resulting from acquisitions, net of divestitures.

Operating in over 120 nations, Aon offers risk management, insurance and reinsurance brokerage, and human resources and outsourcing services through its more than 65,000 colleagues globally.