Aon has reported that net income attributable to shareholders increased to $716m in the fourth quarter of 2024 (Q4 2024), a 44% jump from the same quarter the previous year.
The insurer’s operating income for the three-month-period ending 31 December 2024 stood at $1.09bn, a 40% surge from $779m in the prior year.
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Total revenue soared 23% year-on-year, reaching $4.15bn in Q4 2024.
This growth was driven by acquired revenues from NFP as well as 6% organic revenue growth.
Aon has two reporting segments – Risk Capital that includes commercial risk solutions and reinsurance solutions, and Human Capital that comprises health solutions and wealth solutions.
Risk Capital revenue rose 13% to $2.5bn, while Human Capital revenue grew by 41% to $1.6bn.
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By GlobalDataReinsurance solutions, which falls under the Risk Capital segment, contributed $351m in revenue in Q4 2024, up by 6% from the previous year, while commercial risk solutions’ revenue increased 15% to $2.18bn.
Aon’s net income attributable to shareholders was $2.65bn for the full year of 2024, a 4% rise from $2.56bn in 2023.
Operating income in 2024 amounted to $3.83bn, up 1% from a year ago.
Total revenues for 2024 were $15.7bn, a 17% increase from $13.37bn in 2023.
Reinsurance solutions and commercial risk solutions contributed $2.65bn and $7.86bn in 2024, respectively, marking year-over-year increases of 7% and 12%.
Looking ahead, the company stated: “Our 2025 Free Cash Flow generation is expected to enable us to execute our capital allocation model, including meeting our leverage objective in Q4’25, investing in organic growth and tuck-in M&A [mergers and acquisitions], and returning capital to shareholders, including $1bn in share repurchases.”
Aon CEO Greg Case said: “We ended 2024 with another quarter of strong performance and outstanding execution across all aspects of our strategy. We generated 6% Organic revenue growth for the fourth quarter and full year, with mid-single digit growth or better across all our solution lines. This top-line strength and continued cost efforts drove strong margins, double-digit EPS growth and $2.8bn of free cash flow. As expected, executing our 3×3 Plan creates differentiation in how we serve our clients across Risk Capital and Human Capital, powered by Aon Business Services.
“We are well-positioned to build on our momentum in 2025 and drive long-term value creation for our colleagues, clients and shareholders.”
Last month, Aon launched its life and health reinsurance practice in India.
