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Aon Corporation
built 156 days ago
Aon Corporation is a holding company comprised of a family of insurance brokerages, consulting service providers, and insurance underwriting subsidiaries. Aon is recognized as a world leader in insurance and consulting services and has grown exponentially since 1982 with 1997 annual revenue reaching approximately $5.8 billion. Aon's 40 000 employees are distributed across more than 600 offices located in more than 115 countries worldwide from Argentina to Zimbabwe. Companies of all kinds look to Aon Risk Services for comprehensive risk management solutions including exposure identification, insurance placement, claims management, loss control, and administrative services.
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Aon Corporation is a most important provider of risk management services, insurance and reinsurance brokerage, management consulting and human capital, and specialty insurance underwriting. Around 43000 people are working with Aon Coeporation. 500 offices are situated in more than 120 countries. Aon professionals help a wide range of clients develop effective risk management and workforce productivity solutions. . Potential factors that could impact results include, changes in global equity and fixed income markets that could affect the return on invested assets, fluctuations in exchange and interest rates that could influence revenue, changes in the competitive environment, our ability to execute the stock repurchase program, changes in commercial property and casualty markets, changes in revenues and earnings, the impact of investigations brought by state attorneys general, state insurance regulators, securities class actions and many more.
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Aon Corporation recently reported very good 1Q 2007 earnings. Revenue was up 10% for the quarter to $2.4 billion, 5% of which was due to organic growth. Net income increased 8% to $213 million or EPS of $0.66. Net income from continuing operations rose 23% to $212 million. Aon posted these numbers despite a tough North American market in which rising health care costs have put pressure on medical insurance and risk management companies. During this quarter, Aon realized restructuring savings of $46 million and is on track to realize FY 2007 savings of $235 million and FY 2008 savings of $280 million.
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Aon Corporation, through its subsidiaries, provides insurance and risk management, consulting, and insurance underwriting solutions worldwide. The company has three segments: Risk and Insurance Brokerage Services; Consulting; and Insurance Underwriting. The Risk and Insurance Brokerage Services segment offers retail brokerage services, including advisory services to entertainment, media, financial institutions, marine, aviation, construction, healthcare, and energy industries; risk management solutions that cover property, general liability, directors’ and officers’ liability, and workers’ compensation risks; affinity products for professional liability, life, disability, income, and personal lines to individuals, associations, and businesses; and premium finance services, as well as engages in the management of general underwriting, placement, and captive management services. This segment ... operates as a broker that provides reinsurance services, including advice, placement of reinsurance and alternative risk transfer financing with capital markets, actuarial consulting, financial and regulatory consulting, portfolio analysis, catastrophe modeling, and claims services to insurance and reinsurance companies, and other risk assumption entities. The Consulting segment offers consulting services in various areas, including employee benefits, compensation, management consulting, communications, strategic human resource consulting, financial advisory and litigation consulting, and human resource outsourcing. The Insurance Underwriting segment operates as an underwriter and distributor of individual accident, disability, health, and life insurance products.
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Aon Corporation (Aon) is engaged in providing insurance and risk management, human capital consulting, and insurance underwriting services. It operates in more than 120 countries. It is headquartered in Chicago, Illinois and employs about 43,100 people.
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Aon continued to shift its brokerage and consulting businesses to more prominent positions within the corporation in 2001. That year, Aon announced plans to divest its underwriting unit, splitting it off to its shareholders. The spinoff would break Aon from the underwriting foundations established by W. Clement Stone in the years after World War II. Although Aon shied away from the voracious acquisitions of the 1990s, it did purchase ASI Solutions Incorporated in 2001. The Canadian company specialized in human resources outsourcing services and would be folded into Aon Consulting Worldwide.
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Aon Corporation