Aon reports quarterly earnings
Aon reports quarterly earnings | Insurance Business Canada
Insurance News
Aon reports quarterly earnings
CEO cites “great progress” in first half
Insurance News
By
Terry Gangcuangco
Aon has published its interim earnings for the second quarter of 2024 – a period of “excellent” financial results, according to chief executive Greg Case (pictured).
Here’s how the global brokerage fared in the three months ended June 30:
Metric
Q2 2024
Q2 2023
Revenue
US$3.76 billion
US$3.18 billion
Expenses
US$3.10 billion
US$2.34 billion
Operating income
US$656 million
US$842 million
Adjusted operating income
US$1.03 billion
US$867 million
Net income attributable to Aon shareholders
US$524 million
US$560 million
Of the quarterly revenue, US$2.02 billion came from commercial risk solutions; US$635 million, reinsurance solutions; US$662 million, health solutions; and US$463 million from wealth solutions.
Lifting the lid on the numbers, Aon noted: Total revenue increased US$583 million, or 18%, to US$3.8 billion, compared to the prior year period, reflecting acquired revenues from NFP and organic revenue growth of 6%, driven by net new business generation and ongoing strong retention, partially offset by a 1% unfavourable impact from foreign currency translation.”
Aon’s swoop for risk, benefits, wealth, and retirement plan advisory solutions provider NFP was completed in the second quarter.
Meanwhile, Case commented: “Our colleagues delivered excellent results in the second quarter, with 6% organic revenue growth, adjusted operating margin expansion, and 19% growth in adjusted operating income.
“We welcomed our new NFP colleagues to the firm, and we’re even more excited about the opportunities we see to better serve our clients, through shared expertise, content, and capabilities enabled by Aon Business Services.
“The first half marks great progress against all elements of our 3×3 plan, and we’re well-positioned for the remainder of 2024 and the long term.”
An expert in risk capital and human capital, Aon serves clients in more than 120 countries and sovereignties.
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