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Q2 Revenue Up 7% Reports By Aon

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The results for the second quarter of 2023, which ended on June 30th, have been released by Aon. The world’s largest brokerage firm experienced a 7% increase in overall revenues to $3.2 billion, with 6% of that coming from organic growth.

The $560 million in net income (or $2.71 per share) that Aon reported to its shareholders represented a 12 percent rise year over year.

The firm reported a 2% increase in total operating expenses for the group for the second quarter, to $2.3 billion, principally owing to higher costs associated with organic revenue growth and investments in future growth.

The commercial risk solutions division of Aon increased sales by 5% to $1.77 billion. Strong retention, management of the renewal book, and net new business generation drove the 5 percent organic revenue increase in this division across significant geographies.
The main property and casualty business in Asia and the Pacific grew by double digits. An foreign M&A and IPO market’s influence on M&A services largely offset the United States’ moderate growth, according to Aon.

According to the firm, positive global exposures and pricing had a moderately beneficial effect on the market.

Meanwhile, reinsurance solutions witnessed a 13% increase in revenue, from $537 million to $607 million. The segment’s double-digit increase in facultative placements and investment banking contributed to the segment’s organic revenue growth of 9%.

Revenue for health solutions increased by 8% to $447 million from $414 million in the prior-year period. The revenue from wealth solutions increased by only 3%, reaching $352 million.

According to Aon CEO Greg Case, “our global team delivered strong operating results in the second quarter,” which included “6% organic revenue growth and 110 basis points of adjusted operating margin improvement.”

“By aligning solution development around risk capital and human capital,” the company says, “we’re accelerating innovation in our core business and more effectively leveraging our Aon business services platform to address growing client demand for analytical tools that will help them make better decisions on risk and people challenges and opportunities.”

Photograph: tumisu@pixabay

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Q2 Revenue Up 7% Reports By Aon

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