Aon 1Q Profit, Margin Growth Driven by Higher Revenue

By Matt Grossman

Aon PLC on Friday posted a larger first-quarter profit year over year, as each of its primary business segments recorded higher revenue.

The Dublin-based insurance company logged net income attributable to shareholders of $4.00 a share, compared with $3.29 a share a year earlier. Total net income attributable to shareholders was $913 million, up from $772 million.

On an adjusted basis, the company's earnings were $4.28 a share. Analysts polled by FactSet had forecast adjusted earnings of $4.05 a share.

Aon's revenue grew by 10%, to $3.53 billion from $3.22 billion a year earlier, the company said. Analysts were expecting revenue of $3.35 billion.

Revenue from commercial-risk services improved 12% to $1.29 billion with help from strong new-business generation in the U.S., Aon said. Revenue at the reinsurance- and retirement-services segments each grew by 9%, to $922 million and $434 million, respectively, the company said.

Aon's operating margin expanded to 35.3% from 32.1% a year earlier. The company attributed the margin growth to higher revenue and disciplined management of expenses.

Write to Matt Grossman at [e-mail]

(END) Dow Jones Newswires

April 30, 2021 06:31 ET (10:31 GMT)

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