New business contributed to organic growth of 6% in Q4
Aon’s UK retail broking revenue fell 3% to $629m (£392.1m) in the year ended 31 December 2010, from $650m the previous year.
Organic revenue fell 2%, and currency fluctuations had a negative impact of 1%.
However, in the fourth quarter of 2010, Aon’s UK broking revenue grew 4% to $193m from $186m during the same period the previous year. It grew organically by 6%, but currency fluctuations had a negative impact of 2%.
Aon attributed the 6% organic growth mainly to new business and affinity business.
Globally, Aon made a net profit of $706m in 2010, down 5% from the $747m it made in 2009. Profit for the fourth quarter alone was up 17% to $231m from $198m.
Aon’s total revenue for 2010 increased 12% to $8.5bn due to a 12% rise in commissions and fees resulting from acquisitions.
Its main purchase was human resources consultancy Hewitt Associates, which the broker bought on 1 October last year.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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