Aon, the global provider of financial risk-mitigation products, has announced an additional £3.8bn share repurchase programme.
The firm’s latest scheme is in addition to a previous programme that, as of 30 September, had roughly £823m of authorisation remaining.
Aon intends to complete the existing scheme, which commenced in February 2020, before initiating the newly authorised programme.
Greg Case, CEO at the company, said: “We are committed to maintaining our strong position of financial stability and flexibility, while continuing to allocate capital to the highest ROIC opportunities.
“Today’s announcement demonstrates our conviction in our colleagues’ ability to drive long-term growth of the firm, which we believe will be further accelerated by our pending combination with Willis Towers Watson and result in significant shareholder value creation.”
The share repurchase programme will allow Aon’s class A ordinary shares to be purchased on the market, in block trades, and in privately negotiated transactions depending on market conditions.