For the nine months, net income has grown $125 million or 43 percent, going from $288 million, or $1.03 a share, to $413 million, or $1.30 a share. Revenues increased 12 percent, or $765 million, going from $6.44 billion to $7.21 billion.

Patrick G. Ryan, Aon's chairman and chief executive officer, said the businesses' brokerage arm did achieve the results it expected, but both brokerage and reinsurance business drove the firm's earnings. Consulting, he added, was still under pressure from the economy, but poised for improvement. Aon's underwriting business, Combined, showed marked improvements.

"We are not at all satisfied, in fact disappointed, in the third quarter results," Mr. Ryan said during an investor's conference call. "We have taken and are taking a very hard look at our financial performance."

He said the problems with Aon's performance lay in a lack of discipline in some areas of the firm, not in the quality and performance of services to clients. However, Aon was still not doing as well as its peers.

Mr. Ryan took personal responsibility for the failure of the firm to perform and vowed that improvements would be made. He noted there would be a "dramatic increase in discipline" within the firm, and threatened to replace managers who did not improve their performance.

Brokerage services increased 10 percent in the quarter, or $123 million, going from $1.25 billion to $1.37 billion in 2003. Consulting gained 6 percent, or $17 million, going from $269 million in the third quarter of 2002 to $286 million. Underwriting grew 3 percent, or $24 million, going from $718 million to $742 million.

Aon reported a loss of $25 million in the quarter from discontinued business, largely from its automobile finance servicing business, which it said it plans to sell.

The firm said it reached a final settlement of approximately $200 million for its World Trade Center property insurance claims. It expects a cash payment of $92 million in the fourth quarter, and has already received $108 million.

Mr. Ryan said Aon remains comfortable with fourth quarter earnings consensus of between 54 and 58 cents a share, before any benefit for WTC claims and $2.04 to $2.08 for the year.