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Aon Q1 net income up

Aon has reported a 2% increase in the net income to $218 million or $0.68 per share in the first quarter of 2008, from $213 million or $0.66 per share in 2007.

For the first quarter of 2008, the net income from continuing operations increased 8% to $179 million or $0.56 per share, compared to $165 million or $0.51 per share in 2007.

Total revenue increased 7% to $1.9 billion with organic revenue growth of 2%. Total operating expenses increased 8% or $124 million to $1.6 billion, including an $82 million unfavorable impact from foreign currency translation. Restructuring expense was $60 million in the first quarter of 2008, compared to $9 million in the prior year quarter.

Greg Case, president and CEO of Aon, said: Organic revenue growth was 2% in our brokerage segment and 4% in consulting services, adjusted pretax margin increased 180 basis points. During the quarter, we continued to invest in areas such as construction, environmental and integrated capital solutions in reinsurance.