Global broker Aon Corp’s fourth-quarter net income has dropped 95% on an expected $US116 million ($172 million) – a loss mainly attributed to a year-long restructure in which it is shedding its underwriting activities.

CEO Greg Case says the company had solid results despite the soft market. Net income for the quarter was $US10 million ($14.8 million), compared with $207 million ($307 million) in the last quarter of 2007.

Revenue decreased 4.1% to $US1.92 billion ($2.8 billion), while organic growth in the risk services and broking operations was 2%.