Breaking News


Aon Rallies on Profit Increase, Share Buybacks

Aon Plc (AON), the second-largest insurance broker by market value, had the biggest gain in the 81-company Standard & Poor’s 500 Financials Index after posting higher third-quarter profit and accelerating share repurchases.

The broker advanced 3.7 percent to $78.38 at 10:20 a.m. in New York, extending its increase this year to 41 percent.

Net income jumped 25 percent to $256 million as revenue climbed at both the risk-solutions brokerage segment and the human-resources division, according to a statement today from the London-based company. Aon, which was previously based in Chicago, said it repurchased about $500 million of stock in the quarter, compared with $225 million in the prior three months.

“Risk-solutions results were strong and slightly better than our estimates,” Dan Farrell, an analyst at Sterne Agee & Leach Inc., said in a note to investors today. The share “buyback of $500 million was well above our $200 million forecast.”

Marsh & McLennan Cos., the largest broker by market value, advanced 1.1 percent. The New York-based company gained 35 percent since Dec. 31.

To contact the reporter on this story: Noah Buhayar in New York at

To contact the editor responsible for this story: Dan Kraut at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.