Aon reports higher revenues, lower profits

LONDON—Aon P.L.C.’s 2012 first-quarter total revenues rose to $2.84 billion, a 2.9% increase over the same period last year, the brokerage reported Friday.

First-quarter revenues from Aon Risk Solutions, Aon’s brokerage and risk management business, rose 3.2% to $1.91 billion, with organic growth of 4%, according to Aon, which recently redomiciled to London. Revenues for its HR Solutions benefits business also rose 3.2% over the prior-year period to $945 million.

Aon’s first-quarter profits, however, dropped 3.3% to $238 million, due to decreased interest income and unfavorable impact of exchange rates.

“Our first quarter results reflect the strongest rate of organic revenue growth since the second quarter of 2007 despite overall results that were unfavorably impacted by foreign currency movement and investments to strengthen our client-serving capabilities,” said Aon President and CEO Greg Case in a statement.

“We have taken significant steps to position the firm for long-term growth, strong free cash-flow generation and increased financial flexibility as highlighted by the completed redomestication to London, the authorization of a $5 billion share repurchase program and a 5% increase in our dividend,” he said in the statement.