Aon invests in future as profits rise
Aon’s first-quarter results reflect impressive organic growth and increasing strength from investment initiatives, according to CEO Greg Case.
Net income attributable to shareholders was $US659 million ($934.97 million), up 11% on the corresponding period last year.
Total revenue increased 2% to $US3.14 billion ($4.45 billion).
“Our results reflect increasing strength from our Aon United initiatives, as highlighted by strong organic revenue growth of 6%, substantial operating margin improvement of 190 basis points and double-digit earnings-per-share growth for the first quarter,” Mr Case said.
“More important, we continue to strengthen… through investments in industry-defining content and capability, while increasing our relevance to clients, delivering strong financial results and unlocking significant shareholder value creation through double-digit free cashflow growth over the long term.”
The commercial risk solutions unit experienced growth “across every major geography”, with double-digit gains in Latin America.
“Results reflect strong global new business generation and management of the renewal book portfolio,” Aon says.
Reinsurance solutions’ organic revenue increased 9%, “driven by strong net new business generation globally in treaty, as well as double-digit growth globally in facultative placements and in capital markets transactions”.