Bloomberg News

Aon Drops Most Since May as Revenue Falls Short: Chicago Mover

April 26, 2013

Aon Plc (AON:US), the insurance broker that moved its headquarters to London from Chicago, declined the most since May after a measure of revenue growth slowed.

Aon slid (AON:US) $2.29 or 3.7 percent, to $59 at 4:04 p.m. in New York, the biggest drop on the 81-company Standard & Poor’s 500 Financials Index. The shares are up 6.1 percent this year.

Organic revenue growth, a measure of sales that excludes acquisitions and currency fluctuations, was 2 percent in the period, compared with 4 percent a year earlier, Aon said today in a statement. Total revenue of $2.92 billion fell short of the average estimate of $2.94 billion in a survey of analysts by Bloomberg.

“We do not find the organic growth numbers particularly encouraging,” Charles Sebaski, an analyst at BMO Capital Markets, wrote today in a research note. “We would expect the shares to trade flat to down.”

Aon is the second-largest insurance broker by market value. No. 1 Marsh & McLennan Cos., based in New York, slipped 0.7 percent to $37.33.

To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net


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Companies Mentioned

  • AON
    (Aon PLC)
    • $87.4 USD
    • 1.08
    • 1.24%
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