Broker Aon has posted higher earnings for the first quarter, supported by its key Commercial Risk Solutions and Reinsurance Solutions businesses.

Net income for the three months to March grew 3% to $US1.05 billion ($1.58 billion) from a year earlier as revenue increased 5% to $US3.87 billion ($5.84 billion).

Commercial Risk Solutions generated about $US1.77 billion ($2.67 billion) in revenue, a 3% increment from a year earlier while Reinsurance Solutions achieved a 10% rise in revenue to $US1.07 billion ($1.61 billion).

“As we move past the pandemic, our clients are telling us there are two primary areas where they are urgently looking for competitive advantage: Risk and People,” CEO Greg Case said.

“As these results demonstrate, our Aon United strategy has established the firm as uniquely capable of helping clients go on offense and make better decisions that mitigate risk to their business and maximise the impact of their people.”

Aon says Commercial Risk Solutions’ results included organic revenue growth of 6%, reflecting strong growth across most major geographies.

The division saw “strong retention, net new business generation, and management of the renewal book portfolio,” Aon says.

“Growth in retail brokerage was highlighted by double-digit growth in [Europe, the Middle East and Africa], Latin America, and the Pacific, driven by continued strength in core [property and casualty],” Aon says.

“Results also reflect strong growth globally in the affinity business across both consumer and business solutions, including growth in the travel and events practice and Digital Client Solutions.”

For Reinsurance Solutions its organic revenue growth of 9% reflects strong growth in treaty, driven by strong retention and continued net new business generation, as well as double-digit growth in both the Strategy and Technology Group and facultative placements.

“Market impact was modestly positive on results in the quarter,” Aon says. “The majority of revenue in our treaty portfolio is recurring in nature and is recorded in connection with the major renewal periods that take place throughout the first half of the year.”