Aon Corp. reported flat first-quarter net income of $198 million–down $2 million from the same period in 2005–but the brokerage and analysts reacted positively to the firm’s overall results.

“Core operating performance exceeded our expectations and was materially better than last year,” said Greg Case, chief executive officer of the Chicago-based brokerage since April 2005. “Each of our operating segments showed margin improvement on positive organic growth.”

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