What’s New: In Brief (July 31, 2009)
July 31, 2009 by Canadian Underwriter
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Aon has reported a net income of US$149 million for 2009 Q2, compared to US$1.1 billion for 2008 Q2.
Total revenue decreased 4% to $1.9 billion due to a 9% decline resulting from foreign currency translation and a 69% decline in investment income.
This was partially offset by a 7% increase from acquisitions, primarily due to the acquisition of Benfield, net of dispositions, the company noted.
Total operating expenses decreased US$43 million to US$1.7 billion, the company notes.
“Our second quarter results reflect continued progress and a strong performance against difficult economic and industry conditions,” Greg Case, president and CEO of Aon Corporation, said in a release.
Quebec has experienced a 7% decrease in the average of the lowest rates quoted for auto insurance in 2009 Q2, according to Kanetix.
The online quoting service released the result of its inaugural Quebec quarterly auto insurance premium study, designed to spot and highlight pricing trends of car insurance quotes in the province.
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