Aon profit jumps 26% in Q1 2026 on risk capital strength

Aon has reported first quarter net income attributable to shareholders of $1.2bn, up 26% from $965m in the prior-year period.

Diluted earnings per share rose 27% to $5.63 from $4.43 in the same period last year.

First-quarter revenue increased 6% year-on-year to $5bn.

The company said this reflected 5% organic revenue growth, supported by new business and continued client retention. Foreign exchange translation added 4%, while divestitures reduced revenue by 3%, mainly linked to the sales of NFP Wealth and Stroz Friedberg. 

Revenue in risk capital rose 10% to $3.5bn, while human capital revenue edged down by 1% or $6m to $1.5bn.

Within risk capital, commercial risk solutions revenue increased 11% to $2.2bn, reflecting a 7% organic revenue growth, with double-digit expansion in North America and solid growth in EMEA.

Reinsurance Solutions posted $1.2bn of revenue with 8% increase, recording 4% organic revenue growth, helped by treaty placements, new business and retention, as well as a double-digit increase in facultative placements.

In human capital, health solutions increased by 9% to $1.1bn, representing 4% organic revenue growth, with gains in core health and benefits and particular strength internationally.

The company said new business, retention and market conditions contributed positively. This was partly offset by slower discretionary spending in Talent Solutions.

Interest income was up $7m from the prior-year period, mainly due to higher cash balances following the sale of NFP Wealth. Interest expense fell by $27m, reflecting lower total debt.

Aon president and CEO Greg Case said: “Our strong start to the year reflects continued execution of our 3×3 Plan and progress accelerating our client-centric Aon United strategy.

“In the first quarter, we delivered 5% organic revenue growth, expanded operating margin, and generated significant free cash flow, reinforcing our confidence in achieving our full-year objectives.”

He further added: “As risk and complexity continue to grow, demand is increasing among global, large, and middle-market clients for integrated, high-value solutions that combine expertise, data, and analytics at scale.

“Our long-standing focus on these client segments along with our investments in analytics, technology, and innovative capital solutions is expanding our addressable market. As a result, we are well positioned to deepen our relevance with clients and deliver durable growth and long-term shareholder value.”