Aon is a professional services and management consulting company headquartered in London, UK. Credit: Alpha Photo/Flickr(Creative Commons).

Aon has reported a net income of $575m for Q2 2023, marking a 12% increase compared with $514m a year ago.

For the quarter ended 30 June 2023, the company’s earnings per share (EPS) on diluted basis increased 16% to $2.71 from $2.33 a year earlier.

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The company’s total revenue for the quarter rose by 7% to $3.2bn from $2.98bn in the year ago period.

This included a 6% of organic revenue growth and a 2% favourable impact, which came from fiduciary investment income, however it was partly offset by a 1% unfavourable impact due to the foreign currency change.

Aon’s Commercial Risk Solutions segment registered a 5% organic revenue growth to $1.77bn.

Meanwhile, the company’s Reinsurance Solutions, Health Solutions and Wealth Solutions segments posted a revenue of $607m, $447m and $352m, respectively.

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For the period under review, Aon’s operating income rose by 20% to $142m and operating margin was 26.5%, which is 300 basis points more than the prior year.

The company said its total operating expenses for this second quarter totalled $2.3bn, a 2% increase from $2.2bn a year ago.

Aon CEO Greg Case said: “Our global team delivered strong operating results in the second quarter, including a 6% organic revenue growth and 110 basis points of adjusted operating margin improvement, demonstrating the strength of our Aon United strategy and ongoing progress against our financial goals.

“By aligning solution development around Risk Capital and Human Capital, 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.”