Aon has reported that its total revenue during the first quarter of 2012 grew by 3% to $2.8bn from the prior year quarter backed by a 4% increase in organic revenue, partially offset by a 1% decrease from unfavorable foreign currency translation.
Net income attributable to Aon stockholders from continuing operations stood at $238m, or $0.71 per share, versus $246m, or $0.71 per share, for the prior year quarter.
For the current quarter, the insurer net income per share attributable to Aon stockholders from continuing operations, adjusted for certain items, was $0.98, compared to $0.99 during the same quarter last year.
Commenting on the firm’s quarterly performance, Aon president and chief executive officer Greg Case said the results reflected the strongest rate of organic revenue growth since the second quarter of 2007.
For the latest quarter period, its total operating expenses rose by 3% to $2.4bn, primarily due to a 4% increase in organic revenue, a $25m acquisitions expenses, and a $13m rise in intangible asset amortization expense, partially offset by a $29m favorable impact from foreign currency translation, benefits related to the formal restructuring programs and a $15m decline in Hewitt related costs.
Restructuring expenses stood at $20m for the quarter period ended on 31 March 2012, compared to $30m in the prior year quarter.
During the year 2013, the company expects to save nearly $355m, related to the Aon Hewitt restructuring program, including $280m related to the restructuring program and $75m in additional synergy savings.