Aon drops to negative in S&P's ratings
Standard & Poor has downgraded Aon Corporation's outlook from stable to negative because of concerns...
Standard & Poor has downgraded Aon Corporation's outlook from stable to negative because of concerns about lower than expected earnings at the company's risk and insurance brokerage.
S&P highlighted a disparity in pre-tax margins between the earnings of Aon's risk management and insurance broking division and those of its peer groups.
In the second quarter of 2003, this division reported a pre-tax margin of 12.3% and a pre-tax margin for the first six months of 2003 of 14.5%.
Patrick Ryan, chairman
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