The company’s adjusted net income attributable to Aon shareholders increased 25% to $594m in Q3 2024, up from $474m in the same quarter last year. Credit: JHVEPhoto / Shutterstock.

Aon has reported a mixed financial performance in the third quarter (Q3) of 2024, with a decrease in net income but an increase in revenues.

The (re)insurance broker saw its net income attributable to its shareholders fall to $343m in the three-month period ending 30 September 2024, a 25% decrease from $456m in the previous year.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

However, adjusted net income attributable to Aon shareholders soared 25% to $594m in Q3 2024 compared with $474m in the same quarter last year.

The company’s total revenue surged 26% to $3.72bn from $2.95bn over this period, bolstered by acquired revenues from the NFP acquisition and a 7% organic revenue growth.

The majority of the revenues were contributed by the commercial risk solutions unit, which generated $1.85bn in Q3 2024, 17% higher than the prior year.

Health solutions contributed $870m to revenues, reinsurance solutions generated $503m, and wealth solutions contributed $499m, growing 58%, 8%, and 42%, respectively when compared with Q3 2023.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

However, Aon’s total operating expenses surged 37% year-on-year to $3.1bn.

This increase was driven by the addition of NFP’s operating expenses and higher intangible asset amortisation from the NFP deal.

Expenses related to organic revenue growth, charges from the Accelerating Aon United restructuring programme, and investments aimed at long-term growth also led to a spike in costs.

Aon CEO Greg Case stated: “Our global team delivered another quarter of excellent results in the third quarter, with 7% total organic revenue growth, including all solution lines at 6% or greater, which contributed to adjusted operating margin expansion and 17% growth in adjusted EPS.

“Our performance through the first three quarters positions us well to deliver full-year results in line with our financial guidance, and demonstrates the success of our 3×3 Plan to bring better client solutions across risk capital and human capital, powered by Aon Business Services.”