Global broker Aon has reported revenue of US$2.7 billion for the third quarter of 2016, unchanged from the same period last year.
The company said its latest quarterly revenue was driven primarily by 4% organic growth in commissions and fees. However, this was offset by a 2% unfavorable impact from foreign currency translation and a 2% decrease in commissions and fees related to divestitures, net of acquisitions.
Total revenue from the firm’s risk solutions business went up by 2% driven by 3% growth in commissions and fees and a 1% increase in commissions and fees related to acquisitions, net of divestitures.
Retail organic revenue increased by 4%, reflecting organic revenue growth in both the Americas and international businesses.
In the Americas, organic revenue climbed 5% due to expansion across all regions, highlighted by strong growth in Affinity and record new business generation and retention in the US retail business.
International organic revenue increased 2% driven by effective management of the renewal book portfolio in continental Europe and solid growth in New Zealand and across Asia.
“Overall, our performance reflects solid organic revenue growth across both Risk and HR Solutions, effective capital management, and strong double-digit growth in free cash flow,” said Aon president and CEO Greg Case.
“Looking forward, we expect a strong finish to the year as we head into our seasonally strongest quarter, resulting in improved operating performance for the full year,” he added.
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