Aon Reports 11% Revenue Growth to $4.155 Billion in Q2 2025

Aon plc reported a significant increase in its financial performance for the second quarter of 2025, with total revenue rising to $4.155 billion, an 11% increase from $3.760 billion in the same period last year. The growth was driven by a 6% organic revenue increase and contributions from the recently acquired NFP, alongside a favorable 1% impact from foreign currency translation. For the first half of 2025, revenue reached $8.884 billion, up 13% from $7.830 billion in the prior year. The Risk Capital segment generated $2.866 billion in revenue, an 8% increase, while the Human Capital segment saw a 15% rise to $1.291 billion.

Operating expenses also increased, totaling $3.296 billion for the quarter, a 6% rise from $3.104 billion in the previous year. This increase was primarily attributed to the ongoing operating expenses from NFP, higher amortization of intangible assets, and investments in long-term growth initiatives. Despite the rise in expenses, operating income improved to $859 million, up from $656 million, resulting in an operating margin of 20.7%, compared to 17.4% in the prior year. For the first six months, operating income was $2.320 billion, reflecting a slight increase from $2.121 billion.

Aon has been actively pursuing strategic acquisitions, completing nine acquisitions in the first half of 2025, including the acquisition of Griffiths & Armour, an insurance broker in the UK. The company also reported a decrease in Accelerating Aon United Program expenses, which are part of a restructuring initiative aimed at streamlining operations and reducing costs. The program is expected to incur cumulative costs of approximately $1 billion, with anticipated annualized savings of around $350 million by the end of 2026.

In terms of operational metrics, Aon reported a diluted net income of $2.66 per share for the second quarter, compared to $2.46 in the prior year. The company’s net income attributable to shareholders increased to $579 million, up from $524 million. However, for the first half of 2025, net income decreased to $1.544 billion from $1.595 billion in the previous year. Aon’s cash flow from operating activities was $936 million for the first six months, a 14% increase from $822 million in the prior year, indicating strong operational performance.

Looking ahead, Aon remains focused on navigating the current macroeconomic environment, which includes geopolitical uncertainties and inflationary pressures. The company is committed to leveraging its global reach and comprehensive analytics to address evolving client needs while continuing to enhance its operational efficiency through strategic initiatives and acquisitions.