Global broker Aon may have been targeted by the US regulators for its dealings in contingent commissions, but cutting costs has assisted the Chicago-based company to increase its quarterly profit by 10%.

The broker said in a statement that cutting costs, including the sacking of 4000 employees, allowed it to increase its second-quarter net income to $US191 million from $US173 million for the corresponding period last year.

New Aon President and CEO Greg Case said he’s “pleased with our performance despite the continued decline in insurance premium rates and our decision to terminate contingent commission arrangements”.