UK – Consulting and insurance firm Aon Corp. says it put $164m (€129.3m) of financial instruments into its various UK pension schemes in the first quarter of this year.

“During first quarter 2006, Aon contributed to various UK pension plans certain financial instruments valued at $164m,” the Chicago-based firm said in its first-quarter earnings release.

It said the financial instruments consisted of Private Equity Partnership Structures I, LLC (PEPSI) securities, Endurance warrants, and the convertible preferred stock investment related to the 2004 sale of a claims business.

The company said its consulting revenue in the period was $308m, with 4% organic revenue growth - primarily from operations in the UK and Canada, as well as from compensation consulting.

First quarter pre-tax consulting income increased 15% to $30m.

Overall, Aon posted a decline in net income to $198m from $200m in the 2005 quarter.

“Our first quarter results reflect another step in realizing the full potential of the Aon franchise,” said president and chief executive Greg Case.

“Core operating performance exceeded our expectations, and was materially better than last year. Each of our operating segments showed margin improvement on positive organic growth.

“Americas-Brokerage, led by our US retail brokerage business, performed well, and our consulting and underwriting businesses showed improved growth. We continue to enjoy great success in the marketplace in winning new business and retaining existing business.”

Meanwhile Aon Consulting has named Steven Blackie as client relationship director of its Edinburgh office. He joined Aon in 2005.

Earlier this month it emerged that Aon had been named as actuarial adviser to the two industry-wide Coal Pension Schemes, replacing the Government Actuaries Department.

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