Aon Announces New $5 Bln Share Repurchase Program - Quick Facts

(RTTNews) - UK-based risk and insurance brokerage service provider Aon Plc. (AON) said its Board of Directors has authorized a new $5 billion share repurchase program.

This is in addition to the existing share repurchase program previously authorized in April 2012, which has approximately $1.1 billion of remaining authorization.

The company intends to complete this repurchase program before repurchasing shares under the new program.

Including the newly authorized increase of $5 billion, up to $6.1 billion of Class A ordinary shares may be repurchased from time to time depending on market conditions or other factors through open market or privately negotiated transactions.

Greg Case, president and chief executive officer, said, "Today's announcement continues to demonstrate our belief in the underlying strength of the firm, strong free cash flow generation outlook and our continued focus on maximizing total return for shareholders."