Global broking giant Aon has reported a 33% increase in annual net profit from its insurance and reinsurance broking operations.

In its broking businesses, total annual revenue from fees and commissions increased 2% to $US6.37 billion ($6.29 billion) in 2010, while net profit rose to $US1.19 billion ($1.18 billion), from $US900 million ($888.7 million) in 2009.

Asia-Pacific broking revenue, which includes the Australian and NZ operations, rose 14% to $US519 million ($512.4 million) for the year from $US456 million ($450.2 million) in 2009.

The rises came on the back of a strong fourth quarter, which saw Aon’s insurance and reinsurance broking revenue increase 4% to $US1.77 billion ($1.75 billion), with 3% attributable to organic growth.

Retail fees and commissions in the quarter came in at $US1.42 billion ($1.4 billion), up 5% on the final quarter of 2009. Aon reported that in the Asia-Pacific region, retail broking revenue increased 7% in the quarter “reflecting strong new business growth in Australia and NZ”.

But Aon’s reinsurance broking revenues fell slightly in the final quarter to $US336 million ($331.7 million), compared to $US339 million ($334.7 million) the previous year, which the company attributed to soft pricing in US treaties.

Overall, Aon, which also incorporates a large human resources consulting arm, saw total revenues increase 12% to $US8.51 billion ($8.4 billion) for the year to December 31, 2010, largely attributable to its merger with rival HR firm Hewitt. Overall net profit came in at $US1.23 billion ($1.21 billion), up 20% from 2009.