Business Services Industry
2006 was a mixed bag for world's big brokers; Of the top four, only Aon Corp. showed a drop in net income.(News)(financial news)(Financial report)
Business Insurance, February, 2007 by Roberts, Sally
Byline: SALLY ROBERTS While 2006 may have been a more stable year for the world's largest insurance brokerages from a regulatory standpoint, restructuring initiatives and a soft pricing environment made for another challenging year. The world's four largest brokerages, which gave up millions in contingent commission revenues in 2005 as part of regulatory settlements, all reported increases in their 2006 brokerage revenues, albeit in the single digits.
And, with the exception of Chicago-based Aon Corp., which reported a 2.2% decline in profits, the largest brokers reported improved profits last year. Analysts say that after the regulatory upheaval in late 2004 and 2005, various restructuring initiatives and the soft pricing environment were the main...
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