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Aon Corp. profits up 12 percent

company with two Bermuda subsidiaries, is reporting healthy second quarter results.Profit for the quarter ended June 30, 1995 was $98.7 million, up 11.9 percent over the $88.2 million reported for the same quarter last year,

company with two Bermuda subsidiaries, is reporting healthy second quarter results.

Profit for the quarter ended June 30, 1995 was $98.7 million, up 11.9 percent over the $88.2 million reported for the same quarter last year, the company said this week.

Net income per share rose to 85 cents from 77 cents.

"Aon continues to sustain its momentum with double-digit growth in operating income. All major lines of business, especially commercial brokerage and consulting, contributed to favourable operating results,'' said Aon chairman and CEO Mr. Patrick Ryan. Insurance brokerage and consulting services, part of total revenue earned, rose 18.3 percent to $412.6 million over $348.8 million.

Reinsurance and wholesale, part of insurance brokerage and consulting services, rose 25.9 percent to $111.4 million from $88.5 million. Consulting revenue, also part of insurance brokerage and consulting services, rose 23 percent to $64.8 million, up from $52.7 million.

Aon's earned revenue rose to $1.14 billion, up 11.2 percent from the $1.03 billion reported in second quarter 1994.

Stockholders' equity at June 30 was $2.6 billion or $21.63 per share, up from $18.30 at year end. Total assets exceeded $18.5 billion of which invested assets exceeded $10.3 billion.

Benefits and expenses rose 10.8 percent to $991.6 million compared to $894.7 million.

For the half year, Aon's profits increased to $209.9 million from $187.3 million, up 12.1 percent.

On Monday, the company announced Mr. Michael O'Halleran has been elected president of Rollins Hudig Hall Group, Inc. Mr. O'Halleran is chairman of Aon Risk Services. RHH group, the largest company in the Aon group, offers insurance brokerage, risk management and consulting services from reinsurance, wholesale brokerage, alternative risk services, specialty products, employee benefits and training services.

Mr. Ryan, who will continue as RHH group chairman and CEO said: "Mike O'Halleran, who joined us in 1987, has played a major role in the development and growth of our reinsurance and wholesale brokerage operation, which is now the second largest in the world.'' Prior to the appointment, Mr. Ryan served as chairman and president of RHH group. New York, Chicago and London-listed Aon Corp. is an insurance and financial services holding comtwo operating subsidiaries in Bermuda: Aon Re (Bermuda) Ltd. and Aon Risk Services (Bermuda) Ltd.