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Aon hails strong start to year

Aon’s commercial risk solutions and reinsurance businesses helped drive higher revenue and earnings in the first quarter.

Net profit grew to $US588 million ($779.6 million) from $US251 million ($332.8 million) in the corresponding period last year, including gains from new accounting rules that took effect in January.

Total revenue increased 30% to $US3.1 billion ($4.1 billion), including the accounting impact, while organic comparable growth increased 3%.

“Our first-quarter results reflect a strong start to the year, with positive performance across each of our key metrics,” President and CEO Greg Case said.

Revenue at commercial risk solutions, the company’s largest division, grew 4% on a comparable basis from existing businesses, driven by strong growth across most geographies.

Aon says the result included particular strength in the Americas and the Europe, Middle East and Africa region, due to new business generation and renewals management.

Reinsurance revenue increased 6% after growth across every major project line, while retirement and health solutions were both flat. Data and analytic services organic revenue increased 1%.