May 1 (Reuters) – Insurance brokerage firm Aon reported higher first-quarter profit on Friday, on the back of strong demand for its risk-management solutions.
Insurance spending has remained resilient as individuals and businesses prioritize coverage in a complex environment to mitigate against risks such as natural disasters and cyber crime.
Here are some more details:
• Revenue from Aon’s risk capital arm, which helps clients to measure and mitigate risk, rose 9.7% to $3.50 billion in the quarter from a year earlier.
• Brokers generate revenue through commissions based on premiums, tying their performance closely to the broader insurance industry.
• Adjusted net income attributable to Aon’s shareholders rose to $1.4 billion, or $6.48 per share, for the quarter ended March 31, up from $1.24 billion, or $5.67 per share, a year earlier.
• The company reported total revenue of $5.03 billion, with 5% organic growth.
• Peers Marsh McLennan and Willis Towers Watson also posted a rise in first-quarter adjusted profit pointing to steady industry-wide demand.
(Reporting by Pragyan Kalita in Bengaluru; Editing by Shailesh Kuber)
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