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Aon plc is a leading global professional services firm that provides a broad range of risk and human capital solutions. Operating under the unified segment of Aon United, the company offers services through four primary solution lines: Commercial Risk Solutions, Reinsurance Solutions, Health Solutions, and Wealth Solutions. Aon's revenue is predominantly recognized at a point in time upon the effective date of the underlying policy, or over the term of the arrangement using output measures to depict the transfer of control of the services to customers .
- Commercial Risk Solutions - Provides services such as retail brokerage, specialty solutions, and global risk consulting, generating revenue primarily from insurance commissions and fees.
- Reinsurance Solutions - Involves treaty and facultative reinsurance, with revenue derived from reinsurance commissions and fees.
- Health Solutions - Offers consulting and brokerage services, with revenue from insurance commissions and fees.
- Wealth Solutions - Focuses on retirement and investment consulting.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Gregory C. Case ExecutiveBoard | Chief Executive Officer (CEO) | Director of Discover Financial Services | CEO of Aon since 2005, previously at McKinsey & Company leading Global Insurance and Financial Services Practice. | View Report → |
Andy Weitz Executive | Chief Marketing Officer | None | Chief Marketing Officer since joining Aon in 2014; previously SVP for Global Marketing and Communications. | |
Christa Davies Executive | Executive Vice President and CFO | None | CFO since 2008, announced retirement effective Q3 2024; previously at Microsoft and McKinsey & Company. | |
Darren Zeidel Executive | EVP, General Counsel, and Company Secretary | None | General Counsel since 2019; joined Aon in 2012; previously Global Chief Counsel of Aon Hewitt. | |
Edmund Reese Executive | Chief Financial Officer (CFO) | Board Member of The Hartford Financial Services Group, Inc.. | CFO since July 2024; previously CFO at Broadridge Financial Solutions and held senior finance roles at American Express. | |
Eric Andersen Executive | President | None | President since 2020, joined Aon in 1997; previously CEO of Aon Benfield and Co-President of Aon. | |
Jillian Slyfield Executive | Chief Innovation Officer | None | Chief Innovation Officer since 2021; joined Aon in 2015, previously led Digital Economy Practice. | |
Lisa Stevens Executive | Chief People Officer | None | Chief People Officer since 2019; joined Aon in 2018; previously EVP at Wells Fargo. | |
Michael Neller Executive | Senior Vice President, Chief Accounting Officer, and Global Controller | None | Joined Aon in 2011, promoted to Global Controller in 2018; previously at KPMG LLP. | |
Mindy Simon Executive | Chief Operating Officer (COO) | None | COO since 2022; previously CIO at Conagra Brands and held various IT and finance roles there. | |
Adriana Karaboutis Board | Director | Director at Perrigo Company plc and Savills plc. | Director since 2022; expertise in technology, cybersecurity, and digital transformation; former CIO at Biogen and National Grid. | |
Byron Spruell Board | Director | Trustee of University of Notre Dame; Board Member of Museum of Science and Industry, Metropolitan Family Services, and Jackie Robinson Foundation. | Director since 2020; President of League Operations at NBA; former Vice Chairman at Deloitte LLP; expertise in operations and talent development. | |
Cheryl A. Francis Board | Director | Director of HNI Corporation and Morningstar, Inc.. | Director since 2010; co-founder of Corporate Leadership Center; extensive financial expertise as former CFO of R.R. Donnelley. | |
Fulvio Conti Board | Director | Chairman of Innova Italy Srl, SGI SpA, and Fondo Italiano Efficienza Energetica; Director of Take Off SpA. | Director since 2008; extensive experience in international business and finance, particularly in the European Union. | |
Gloria Santona Board | Director | Trustee of Rush University Medical Center and National Immigrant Justice Center. | Director since 2004; former EVP, General Counsel, and Secretary at McDonald’s Corporation; expertise in legal and compliance matters. | |
Jeffrey C. Campbell Board | Director | Lead Director and Chair of Audit Committee at Hexcel Corporation; Board Member of The Juilliard School and Lincoln Center for the Performing Arts. | Director since 2018; extensive financial expertise as former CFO of multiple multinational companies. | |
Jin-Yong Cai Board | Director | Partner at Global Infrastructure Partners; Director of PetroChina Company Limited and Syngenta Group. | Director since 2016; expertise in global finance, private equity, and investment banking. | |
Jose Antonio Álvarez Board | Director | Vice Chair and Non-Executive Director of Banco Santander, Banco Santander (Brasil), and PagoNxt. | Director since 2024; former CEO and CFO of Banco Santander; extensive experience in international finance and risk management. | |
Lester B. Knight Board | Non-Executive Chairman of the Board | Founding Partner of RoundTable Healthcare Partners; Life Director of NorthShore University Health System, Northwestern University, and Junior Achievement of Chicago; Member of Civic Committee of The Commercial Club of Chicago. | Non-Executive Chairman since 2008; Director since 1999; extensive experience in corporate governance and healthcare investment. | |
Richard C. Notebaert Board | Director | Trustee Emeritus of the University of Notre Dame. | Director since 1998; former CEO of Qwest Communications and Ameritech; extensive experience in global operations and strategic planning. | |
Sarah E. Smith Board | Director | Trustee of Nuveen Churchill Private Capital Income Fund and Financial Accounting Foundation; Board Member of Klarna Bank A.B., Via Transportation, and 98point6. | Director since 2023; former CFO and Chief Compliance Officer at Goldman Sachs; expertise in financial management and compliance. |
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Given that revenue synergies from acquisitions can be challenging to achieve, can you provide more specific details on how you plan to realize the $175 million in revenue synergies from the NFP acquisition by 2026, and what steps you are taking to ensure these targets are met?
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With organic revenue growth reaching 7% in Q3 largely driven by net new business and existing clients, how sustainable is this level of growth, and what factors could impact your ability to maintain this momentum going forward?
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You mentioned that lower interest rates could impact fiduciary investment income by approximately $70 million per 100 basis point change; how do you plan to mitigate this risk, and what alternative strategies are you considering to offset potential declines in this income stream?
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Your adjusted operating margin expanded by 70 basis points in the quarter from your combined 2023 baseline; can you explain the key drivers behind this margin expansion, and do you expect this trend to continue in the face of potential market headwinds?
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Given the extraordinary items affecting free cash flow, including NFP transaction and integration charges, restructuring, and legal settlement expenses, how confident are you in your ability to generate double-digit free cash flow growth from 2023 to 2026, and what are the primary risks to achieving this goal?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
The company operates in a highly competitive and fragmented environment and competes with numerous global insurance brokers and consulting companies, including this competitor, in almost every area of its business. | |
The company operates in a highly competitive and fragmented environment and competes with numerous global insurance brokers and consulting companies, including this competitor, in almost every area of its business. | |
The company operates in a highly competitive and fragmented environment and competes with numerous global insurance brokers and consulting companies, including this competitor, in almost every area of its business. | |
Lockton Companies, Inc. | The company operates in a highly competitive and fragmented environment and competes with numerous global insurance brokers and consulting companies, including this competitor, in almost every area of its business. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Southern Insurance Agency, L.L.C. | 2024 | The acquisition, completed on June 18, 2024, involved a U.S.-based insurance and financial services business with no further financial or operational details disclosed. |
Sean Barrett Bloodstock Insurance Limited | 2024 | Completed on June 13, 2024, this deal brought an Ireland-based insurance brokerage into Aon’s portfolio, with no additional specific terms provided. |
The Morley Agency, Inc. | 2024 | Acquired on May 31, 2024, this U.S.-based commercial and personal lines P&C insurance broker was acquired for 100% of its share capital. |
Walden Wealth Partners LLC. | 2024 | Completed on May 31, 2024, this U.S.-based registered investment advisor firm was acquired without additional disclosed financial details. |
Honest Employment Law Practice Ltd. | 2024 | Acquired on May 2, 2024, this U.K.-based consulting and outsourcing business marked the firm's expansion into legal services. |
NOVABROK Correduría de Seguros, S.L. | 2024 | Finalized on April 26, 2024, this Spain-based insurance broker acquisition is part of Aon’s strategy to expand its insurance brokerage capabilities, though precise financial details were not disclosed. |
NFP Intermediate Holdings A Corp. | 2024 | Closed on April 25, 2024, this cash-and-stock merger for $9.1 billion involved acquiring 100% of NFP, significantly enhancing Aon’s middle-market presence and adding substantial assets like goodwill and intangibles. |
Global Insurance Brokers Private Limited | 2024 | Executed on April 3, 2024, this acquisition of an India-based risk management, insurance, and reinsurance broking firm expanded Aon’s geographic footprint, with no further financial specifics provided. |
NGS (Uruguay) S.A. | 2023 | Completed on August 30, 2023, this deal acquired a Uruguay-based risk management consultancy as part of Aon’s strategy to bolster its Risk Capital segment in Latin America. |
Benefits Corredores de Seguros and Asesorías e Inversiones Benefits | 2023 | Finalized on June 22, 2023, this acquisition of a Chilean health and benefits brokerage and administration business involved a total consideration of $9 million (including contingent consideration), with results reflected from the acquisition date. |
Praxiom Risk Management | 2022 | Acquired on September 12, 2022, this U.S.-based professional risk management services provider was integrated without specific financial details disclosed. |
U.S. Advisors, Inc. | 2022 | Completed on August 1, 2022, this acquisition added a U.S.-based broker to Aon’s portfolio as one of several strategic moves during 2022. |
Karl Köllner group companies | 2022 | Finalized on May 3, 2022, this acquisition of Germany-based marine hull broker companies was part of Aon’s strategic expansion, though precise financial details were not detailed. |
Tyche | 2022 | Wrapped up on March 1, 2022, this deal for the U.K.-based actuarial software platform, valued at $137 million (including cash and contingent consideration), significantly bolstered Aon’s capabilities in capital modeling and analytics under its Aon United strategy. |
Recent press releases and 8-K filings for AON.
- Aon plc (NYSE: AON) announced its Board approved a 10% increase to the quarterly cash dividend, raising it from $0.675 to $0.745 per share.
- The increased dividend will be paid on May 15, 2025 to shareholders recorded on May 1, 2025, reflecting the company’s commitment to returning capital to shareholders.