Aon releases Q4 and full-year 2023 results

Aon releases Q4 and full-year 2023 results | Insurance Business Canada

Insurance News

Aon releases Q4 and full-year 2023 results

Chief executive says financials show “how we are going further, faster”

Insurance News

By
Terry Gangcuangco

It’s Aon Plc’s turn to share how it fared in the three and 12 months ended December 31, 2023.

According to the broking giant, below are its financial results for the two periods.

Metric

Q4 2023

Q4 2022

FY 2023

FY 2022

Revenue

US$3.4 billion

US$3.1 billion

US$13.4 billion

US$12.5 billion

Net income attributable to Aon shareholders

US$498 million

US$657 million

US$2.56 billion

US$2.59 billion

Operating income

US$779 million

US$1 billion

US$3.8 billion

US$3.7 billion

In terms of revenue in the fourth quarter, all Aon segments – commercial risk solutions, reinsurance solutions, health solutions, and wealth solutions – saw an increase from the same quarter in 2022.

Commenting on the results, Aon chief executive Greg Case said in a release: “In the fourth quarter and full year, our colleagues delivered 7% organic revenue growth, highlighted by double-digit growth in reinsurance solutions and health solutions. This top-line growth contributed to full-year adjusted margin expansion of 80 basis points, adjusted operating income growth of 10%, and US$3.2 billion of free cash flow.

“This strong performance demonstrates how we are going further, faster with our 3×3 plan, which is an acceleration of our proven Aon United strategy. Our risk capital and human capital structure has unlocked new opportunities to grow, and Aon Business Services is a catalyst for innovation delivering new products and tools at scale across client segments and geographies.”

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