Aon unveils Q3 2022 results

Aon unveils Q3 2022 results | Insurance Business Australia

Aon unveils Q3 2022 results

The Q3 2022 results are in for Aon and the three-month period ended September 30 has been a steady one for the global brokerage and risk management firm.

Among the key financials posted by the group, Aon revealed that its total revenue was flat at $2.7 billion, including organic revenue growth of 5%. Meanwhile, the net income attributable to its shareholders increased to $408 million, compared to a loss of $900 million in the prior year period.

Aon’s total operating expenses dropped 40% year-on-year in Q3 2022 to $2.1 billion, which was largely accredited to the $1.0 billion ‘Termination Fee’ resulting from the termination of its proposed mega-merger with WTW.

Aon provided a breakdown of how each of its business segments fared in the three month period, as seen below:

 

2022

2021

% Change

Organic
Revenue
Growth

Revenue (millions)

$

$

%

%

Commercial Risk Solutions

 1,482

$    1,505

(2) 

Reinsurance Solutions

396

353

12

7

Health Solutions

494

497

(1)

5

Wealth Solutions

326

351

(7)

2

Eliminations

(2)

(4)

N/A

N/A

Total revenue

$    2,696

$    2,702

— %

Commenting on the results seen by the group, CEO Greg Case said: "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.”

He added that the results demonstrate the importance of the group’s ‘Aon United’ strategy in helping clients navigate growing volatility and make “better decisions that protect and grow their business.”