CHICAGO Aon Corp., the worlds second-largest insurance broker, on Thursday reported second-quarter net income of $29 million, down 77.5% from a year earlier.
The company cited special charges related to a restructuring and to investment losses. The company reported pretax special charges of $146 million, mainly from termination benefits and other costs of layoffs.
Revenues rose 5%, to $1.9 billion.
Over the past three quarters Aon has taken $300 million in special charges related to the business restructuring. The total cost of the restructuring is expected to be less than $325 million.