The electromagnetic response of topological insulators is governed by axion electrodynamics, which features a topological magnetoelectric term in the Maxwell equations. As a consequence magnetic fields become the source of electric fields and vice-versa, a phenomenon that is general for any material exhibiting a linear magnetoelectric effect. Axion electrodynamics has been associated with the possibility to create magnetic monopoles, in particular by a electrical charge that is screened above the surface of a magnetoelectric material. Here we present the exact solution for the electromagnetic fields in this geometry and show that while vortex-like magnetic screening fields are generated by the electrical charge their divergence is identically zero at every point in space which implies a strict absence of magnetic monopoles. Although magnetic image charges can be made explicit in the problem, no bound state with electric charges yielding a dyon arises. A dyon-like angular momentum follows from our analysis, but is quantized in a universal way, because of its dependence on the dielectric constant. This is consistent with a general argument that precludes magnetic monopoles to be generated in Maxwell magnetoelectrics.