Despite a relatively flat third quarter, President and CEO Greg Case remains confident Aon will meet its full-year performance targets as it enters its “seasonally strongest quarter”.

The UK-based risk management group posted a $US307 million ($404.56 million) net profit in the quarter, up from $US295 million ($388.75 million) in the corresponding period last year.

Revenue was flat at $US2.7 billion ($3.56 billion), with organic revenue growth of 4% offset by a 2% unfavourable impact from foreign currency translation and 2% fall in commissions and fees related to divestitures, net of acquisitions.

“Overall, our performance reflects solid organic revenue growth across both risk and human resources solutions, effective capital management and strong double-digit growth in free cashflow,” Mr Case said.

“Our industry-leading platform and significant level of strategic investments continue to position the firm for long-term growth, increased operating leverage and significant free cashflow generation.”

Third-quarter highlights include Aon’s purchase of Stroz Friedberg, which will strengthen Aon Risk Solutions’ ability in cyber risk mitigation.

Aon Risk Solutions revenue grew 2% to $US1.71 billion ($2.25 billion) in the quarter, driven by 3% organic growth in commissions and fees and a 1% increase in fees related to acquisitions, squeezed in part by a 2% unfavourable currency conversion.

Retail broking organic revenue grew 4%, reflecting increases in both the Americas and international businesses. Reinsurance organic revenue increased 1%, due mainly to growth in net new business generation in treaty, and gains in facultative placements.