Global insurance broker and risk management firm Aon Corp. reported that net income rose 19 percent in the fourth quarter 2011 to $277 million and overall revenues increased 3 percent to $3 billion.
Fourth quarter operating income decreased 8 percent to $345 million.
Risk Solutions, which includes retail insurance and reinsurance brokerage services, saw total revenue increase 3 percent to $1.8 billion compared to the prior year quarter due primarily to 3 percent organic growth in commissions and fees, according to the financial release.
Retail brokerage organic revenue increased 2 percent reflecting revenue growth in both the Americas and international businesses. Americas organic revenue increased 3 percent primarily as a result of management of the renewal book in Latin America and the U.S. and new business growth in both Canada and Latin America. International organic revenue increased 1 percent driven by growth in Asia and emerging markets, partially offset by challenging macro-economic conditions in continental Europe. Reinsurance organic revenue increased 4 percent due primarily to strong growth in capital market transactions and advisory business and modest growth in global facultative placements.
Compensation and benefits revenue for the fourth quarter increased 5 percent, or $48 million, while the human resources segment’s total revenue increased 3 percent to $1.2 billion.