Aon publishes quarterly earnings

Aon publishes quarterly earnings | Insurance Business Asia

Insurance News

Aon publishes quarterly earnings

CEO cites “great progress” in first six months

Insurance News

By
Terry Gangcuangco

Aon has published its interim earnings for the second quarter of 2024 – a period of “excellent” financial results, according to chief executive Greg Case (pictured).

Here’s how the global brokerage fared in the three months ended June 30:

Metric

Q2 2024

Q2 2023

Revenue

$3.76 billion

$3.18 billion

Expenses

$3.10 billion

$2.34 billion

Operating income

$656 million

$842 million

Adjusted operating income

$1.03 billion

$867 million

Net income attributable to Aon shareholders

$524 million

$560 million

Of the quarterly revenue, $2.02 billion came from commercial risk solutions; $635 million, reinsurance solutions; $662 million, health solutions; and $463 million from wealth solutions.

Lifting the lid on the numbers, Aon noted: Total revenue increased $583 million, or 18%, to $3.8 billion, compared to the prior year period, reflecting acquired revenues from NFP and organic revenue growth of 6%, driven by net new business generation and ongoing strong retention, partially offset by a 1% unfavorable impact from foreign currency translation.”

Aon’s swoop for risk, benefits, wealth, and retirement plan advisory solutions provider NFP was completed in the second quarter.

Meanwhile, Case commented: “Our colleagues delivered excellent results in the second quarter, with 6% organic revenue growth, adjusted operating margin expansion, and 19% growth in adjusted operating income.

“We welcomed our new NFP colleagues to the firm, and we’re even more excited about the opportunities we see to better serve our clients, through shared expertise, content, and capabilities enabled by Aon Business Services.

“The first half marks great progress against all elements of our 3×3 plan, and we’re well-positioned for the remainder of 2024 and the long term.”

An expert in risk capital and human capital, Aon serves clients in more than 120 countries and sovereignties.

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