The third-quarter results for Aon, which ended on September 30, 2022, are in, and the global brokerage and risk management firm had a consistent quarter.
Aon demonstrated that its total revenue remained constant at $2.7 billion, despite organic revenue increasing by 5%. This was one of the most important financial reports issued by the company. The company’s net income for shareholders increased to $408 million from a loss of $900 million in the same period the previous year.
Aon’s total operating costs fell 40% year on year in the third quarter of 2022, to $2.1 billion. This was primarily due to the $1.0 billion “Termination Fee” resulting from the termination of its proposed mega-merger with WTW.
Aon demonstrated how each of its business segments performed over the previous three months.
“In the third quarter, our team continued to deliver strong top- and bottom-line results, highlighted by 5% organic revenue growth and 16% adjusted EPS growth, and contributing to strong year-to-date progress on our key financial metrics, including 7% organic revenue growth year-to-date, adjusted operating margin expansion of 80 basis points, and strong free cash flow growth,” said CEO Greg Case of the group’s results.
He also stated that the results demonstrate the importance of the group’s “Aon United” strategy in assisting clients in dealing with increasing uncertainty and making “better decisions that protect and grow their business.”