What’s New: In Brief (May 04, 2009)

Aon has reported a net income of US$280 million for 2009 Q1 as compared to US$218 million for 2008 Q1.
Total revenue decreased 3% to US$1.9 billion due to a 10% decline in investment income, partially offset by a 7% increase from acquisitions net of dispositions and organic revenue growth in commissions and fees of 1%, the company noted.
Total operating expenses decreased US$147 million to US$1.5 billion, the company notes.
“Our first quarter results reflect continued progress in the face of soft market conditions and a very challenging economic environment,” Greg Case, president and CEO, Aon Corporation, said in a release.

Willis Group Holdings Limited has reported a net income from continuing operations for 2009 Q1 of US$192 million, compared to US$166 million in 2008 Q1.
Net income for the quarter was significantly impacted by the acquisition of Hilb Rogal & Hobbs Company (HRH), Willis said in a release.
Total reported revenues for 2009 Q1 was US$930 million as compared to US$795 in 2008 Q1.
“The North America segment reported a 5% decline in organic commissions and fees compared with the first quarter of 2008, reflecting soft insurance market conditions, the ongoing focus on the integration of HRH, as well as increased weakness in the US economy, which has especially impacted the US Construction and Financial Institutions practices,” Willis said.