Global broking leader Aon, has posted a 78% rise in profit over the last quarter.
The Chicago-based insurer also said it plans to raise £642m in new capital. It confirmed it has shelved plans to sell its major underwriting subsidiaries.
Aon said its third-quarter earnings were £81m compared with £45m a year earlier. Third-quarter earnings rose thanks to new outsourcing projects and increased premium rates that boosted underwriting performance.
The company added that its fourth-quarter and full year earnings per share would be well above consensus estimates of 37 pence and £1.03, respectively.
The company said it expected a reduction in year-end shareholder equity by £289m to £353m because of higher pension costs. This is expected to negatively impact future financial results.
