By Dave Sebastian

Aon PLC said its profit for the second quarter fell as expenses rose, while revenue increased, led by its commercial-risk business.

The Dublin-based insurance brokerage Friday posted net income attributable to shareholders of $379 million, compared with $398 million a year earlier. Earnings were $1.66 a share, compared with $1.70 a share in the prior year.

Adjusted earnings were $2.29 a share. Analysts polled by FactSet were expecting $1.86 a share.

Revenue rose to $2.89 billion from $2.5 billion, the company said. Analysts were looking for $2.68 billion.

Revenue from commercial-risk services rose 20% to $1.35 billion. Revenue rose 12% at both its reinsurance-services and its retirement-services businesses. Health-services revenue rose 19%, and data and analytic services revenue rose 7%, it said.

Aon and Willis Towers Watson PLC earlier this week abandoned a more than $30 billion tie-up that would have created the world's largest insurance brokerage, deciding it wasn't worth pursuing in the face of Justice Department opposition.

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

July 30, 2021 06:38 ET (10:38 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Aon (NYSE:AON)
Historical Stock Chart
From Aug 2021 to Sep 2021 Click Here for more Aon Charts.
Aon (NYSE:AON)
Historical Stock Chart
From Sep 2020 to Sep 2021 Click Here for more Aon Charts.