International broker Aon reported slightly lower revenues for the second quarter 2016 while net income increased.
The industry giant posted total revenue of $2.8 billion (£2.1 billion), down 1% from the same quarter in 2015.
The decline was primarily driven by a 2% unfavourable impact from foreign currency translation and a 2% decrease in commissions and fees related to net divestitures, partially offset by 3% organic revenue growth.
Net income attributable to Aon shareholders was $272 million, up from the $178 million in last year’s second quarter.
The firm’s insurance broking division, Aon Risk Solutions
, posted an operating profit of $802 million (£608 million) in the first half of 2016, up from $691 million (£521 million) it made in the same period last year.
A 4% organic revenue growth in retail brokerage also highlighted the company’s latest financial results, according to Aon president and CEO Greg Case.
"Overall, we delivered positive performance across each of our key metrics in the second quarter,” Case said.
"Although we expect continued volatility in the macroeconomic environment, we anticipate improved organic growth and operational performance in the second half of 2016,” he added.
Case said Aon’s platform and innovative investments across data and analytics continue to position the firm for long-term growth, increased operating leverage and significant free cash flow generation.
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