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Willis Towers Watson deal 'more important than ever': Aon

Aon says its acquisition of rival broker Willis Towers Watson is “more important than ever” as the business looks to ride out the global disruption caused by the virus pandemic.

CEO Greg Case made the comments as the broker announced net income in the first quarter rose to $US773 million ($1.2 billion) from $US659 million ($1.03 billion) a year earlier.

Total revenue increased 2% to $US3.2 billion ($5 billion) in the three months to March, driven by a 5% rise in organic revenue.

“We are fortunate to operate from a position of strength, as demonstrated by the strong results our team delivered in the first quarter,” Mr Case said.

“Our Aon United Strategy and pending combination with Willis Towers Watson are more important than ever as we focus on accelerating innovation to bring the best of our firm to clients during this time of unprecedented volatility.”

Aon announced in March an agreement to acquire Willis Towers Watson in an all-stock deal worth $US29.9 billion ($46.8 billion), creating the largest insurance broker globally.

In the March quarter, the commercial risk solutions division achieved a 3% rise in revenue to $US1.15 billion ($1.79 billion) from a year earlier and reinsurance solutions enjoyed an 8% increase to $US848 million ($1.33 billion).