Aon boss on Q1 results: “We are fortunate to operate from a position of strength”

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Aon Plc, the now Irish-domiciled broking giant set to become even bigger when its purchase of Willis Towers Watson completes next year, has released its financial results for the first quarter of 2020.

The company, which kept its operating headquarters in London, reported a higher net income from continuing operations attributable to Aon shareholders. From 2019’s US$659 million (around SG$934.3 million) the figure improved to US$773 million (around SG$1.09 billion) this time around.

In the period, Aon’s total revenue grew 2% to US$3.2 billion (around SG$4.53 billion). Organic revenue growth stood at 5%. Broken down into segments, here’s how Aon

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Aon CEO confirms pay cuts for bosses, directors, and majority of staff

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Aon chief executive Greg Case, in a message to colleagues on Monday, asked for company-wide backing by way of temporary pay cuts.

Case’s statement, which was included in a Form 8-K filing with the US Securities and Exchange Commission, outlined that the broking giant has already “substantially” curtailed spending on contractors and third-party vendors as well as paused its stock buyback plan to set aside funds.

Now Aon is asking its business services team to take further steps, with the goal of reducing all discretionary expense not related to client service, as part of what the CEO called a “monumental”

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