Aon’s revenue rose 7% to $US3.18 billion ($4.78 billion) in the second quarter, with strong growth across most major geographies. 

Aon says a highlight of retail brokerage growth was double-digit growth in Asia and the Pacific, driven by continued strength in core Property & Casualty. 

Revenue was driven by strong retention, management of the renewal book, and net new business generation, and a 2% favorable impact from fiduciary investment income. Operating income rose 20% to $US852 million ($1.27 billion) while operating margin increased 300 basis points to 26.5%. 

CEO Greg Chase says Aon is set to deliver on its guidance of mid-single digit or greater organic revenue growth, margin expansion, and double-digit free cash flow growth. 

"We remain very well-positioned to maintain this momentum,” he said. "Our strong year-to-date financial results, including 7% organic revenue growth and 90 basis points of margin expansion...position us very well to continue delivering in 2023 and over the long term.” 

Strong organic revenue growth across lines was achieved in the second quarter, including 10% growth in health solutions and 9% growth in reinsurance solutions. Commercial risk solutions delivered 5% organic growth while wealth solutions organic revenue growth was 2%. 

Mr Chase says client demand to address risk has never been greater, noting Aon’s catastrophe incident report estimated global economic losses from natural disasters in the first half of 2023 was $US194 billion ($291.72 billion) – the fifth highest on record.  

Aon has launched a Climate Innovation Hub in Singapore and Climate Risk Advisory team to provide forward looking diagnostics, advisory, and risk modeling tools to help clients navigate volatility and build resilience.