Broker Aon’s key commercial risk and reinsurance businesses recorded stronger results in the third quarter.

Commercial risk solutions revenue grew 17% to $US1.85 billion ($2.8 billion), and reinsurance solutions revenue increased 8% to $US503 million ($761 million).

Aon says commercial risk – the broker’s biggest division by revenue – achieved organic growth of 6% in the July-September period, supported by increases across all major geographies.

“Results reflect strong growth in North America driven by strength in core [property and casualty] ... On average globally, exposures were modestly positive and aggregate pricing was flat, resulting in modestly positive market impact,” Aon said.

The reinsurance business booked organic revenue growth of 7%, boosted by a double-digit increase in facultative placements, plus strength in treaty, driven by net new business and strong retention.

Total revenue in the third quarter, including contributions from other divisions, was up 26% to $US3.72 billion ($5.63 billion), but net income dropped 25% to $US343 million ($519 million) due partly to higher interest expenses.