Aon reports ‘strong organic growth’ for four quarters in Q2 2019 results
Broker Aon reported “strong organic revenue growth”, for the fourth consecutive quarter, in its 2019 second quarter results, published today (26 July).
The firm’s total revenue increased 2 percent to $2.6 billion in Q2 2019 up from $2.56 billion in Q2 2018, which included organic revenue growth of 6 percent from Q2 2018.
However, the broker suggested this growth could have been higher as it was “partially offset” by the negative impacts of foreign currency translation (3 percent) and divestitures, net of acquisitions (1 percent).
Net income from continuing operations attributable to Aon shareholders rose to $277 million, or $1.14 per share, compared to $47 million, or $0.19per share, in Q2 the year before.
The broker’s Reinsurance Solutions business contributed to the strong growth with an 11 percent rise in revenue to $420 million up from $380 million in the same quarter a year earlier.
Greg Case, chief executive officer, said: "Our second quarter results reflect continued progress and momentum from our Aon United initiatives, highlighted by strong organic revenue growth of 6 percent for the fourth consecutive quarter and substantial operating margin improvement of 240 basis points.
"The steps we are taking to lead Aon United in response to increasing client demand combined with significant investment in content and capability, is not only amplifying our ability to serve clients, but also our ability to deliver improved operational and financial performance that we believe will unlock significant shareholder value creation over the long-term."
