Aon Says 4th-Quarter Revenue to Be Lower

Aon Corp., the No. 2 insurance broker, said fourth-quarter revenue will be reduced by $70million because of declines in the value of limited partnership investments held by its insurance underwriting units.

Chicago-based Aon also said it sold $450 million of the limited partnership investments by packaging them into securities. The sale will smooth the income stream from the underwriting unit, which will be spun off later this year, Aon said.

The $70-million reduction in revenue will affect earnings, said spokesman Sean O’Neill, though he declined to say by how much.

The company will release fourth-quarter and full-year results Feb. 12. Aon is expected to earn 47 cents a share in the fourth quarter.

Aon shares fell $1.15 to $35.01 on the NYSE.