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Stock Report: Earnings surprise boosts Aon shares.(Markets)(Brief Article)
Crain's Chicago Business, February, 2005 by Daniels, Steve
Byline: Steve Daniels Stronger-than-expected earnings for the fourth quarter lifted Aon Corp.'s shares 12% to $25.24 last week. The Chicago commercial insurance brokerage reported net income from continuing operations of $192 million, or 57 cents a share, well above consensus estimates of 46 cents a share.
Adding to investor optimism is Aon's decision to set aside just $50 million to cover an expected settlement with New York Attorney General Eliot Spitzer, who is investigating the insurance industry for various conflicts of interest. That sum pales in comparison with Mr. Spitzer's recent $850-million settlement with New York-based industry leader Marsh & McLennan Cos. But investors seemed to overlook darker portents, such as declining insurance premium...
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