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Aon reports profit improvement

Investment in high-growth areas, improved operational performance and record free cashflow generation of more than $US2.1 billion ($2.73 billion) have produced strong results for Aon.

Full-year profit was up 2% to $US1.78 billion ($2.32 billion) last year and cashflow from operations totalled a record $2.3 billion ($3 billion), up 16% on 2015.

Net income for the fourth quarter was up 8% to $US686 million ($894.54 million).

President and CEO Greg Case says growth across all major business units and a record operating margin in the risk solutions operation are highlights.

Full-year revenue was $US11.62 billion ($15.16 billion), with organic revenue growth of 3%.

In the fourth quarter Aon agreed to sell its benefits administration and human resources business process units to investment group Blackstone for gross cash proceeds of up to $US4.8 billion ($6.25 billion).

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