Aon says net income from continuing operations declined to $US435 million ($549 million) last year from $US1.3 billion ($1.6 billion) in 2016, while total revenue grew 6% to $US10 billion ($12.6 billion).

Fourth-quarter revenue grew 10%, while adjusted operating income increased 18% to $US799 million ($1 billion).

“Our fourth-quarter results reflect a strong finish to a solid year, highlighted by 6% organic growth, substantial operational improvement driven by our Aon United operating model initiative and effective capital management,” President and CEO Greg Case said.

Commercial risk solutions organic revenue gained 5% in the final three months, driven mainly by strong growth in US retail and solid growth internationally, led by the Asia and Pacific regions. It was also lifted by new client gains in the captive management business.

Aon says reinsurance solutions revenue increased 8%, with growth across all major product lines. Particular strength was reported in treaty placements.

Mr Case says the group’s long-term growth profile is increasing, driven by its investment levels and portfolio, while the outlook will also benefit from operating savings.