CEO thanks employees around the world for their strong performance
insurance news
Written by Terry Ganquanco
Aon, which recently completed its acquisition of mid-market general insurance broker NFP, has announced its group financial results for the first quarter of 2024.
Here are the Giants’ performances during this period:
metric
|
Q1 2024
|
Q1 2023
|
---|---|---|
revenue
|
$4.07 billion
|
$3.87 billion
|
expenses
|
$2.61 billion
|
$2.4 billion
|
Operating income
|
$1.465 billion
|
$1.473 billion
|
Net income
|
$1.09 billion
|
$1.08 billion
|
Net income attributable to Aon shareholders
|
$1.07 billion
|
$1.05 billion
|
Of total revenue, $1.81 billion came from commercial risk solutions. $1.17 billion from reinsurance solutions; $733 million from Health Solutions; $370 million from Wealth Solutions;
Aon reported: “Commercial Risk Solutions organic revenue growth of 3% reflects growth in most key regions due to strong retention, book renewal management and net new business generation. Retail Brokerage growth is driven by core It was highlighted by strong growth in EMEA (Europe, Middle East and Africa) and Asia-Pacific, driven by continued strong performance in property and casualty insurance (non-life insurance).
“U.S. results were under pressure, reflecting lower net new business and the continued impact of external capital markets activity. On average globally, exposure and pricing were positive, resulting in a modest positive impact on the market.”
Commenting on the figures, Aon chief executive Greg Case (pictured) said: “Our global team delivered strong operating results in the first quarter, including 5% organic revenue growth, 100 basis points improvement in adjusted operating margin, and 9% adjusted EPS. (earnings per share) growth.
“We are pleased to welcome NFP to Aon and look forward to working together to help clients address the increased volatility across risk and talent issues enabled by Aon Business Services. .”
“With this earlier-than-expected financial results, we are able to meet customer demand, create more opportunities for our 60,000 colleagues, strengthen the company’s long-term free cash flow profile, and create long-term shareholder value. We are working even faster to strengthen our capabilities.”
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