Global professional services firm Aon plc has reported a robust performance for the third quarter ended 30 September 2025, with total revenue climbing 7% year-on-year to $3.997 billion, up from $3.721 billion in the same period last year.
The company attributed the growth to a 7% organic revenue increase, a 1% favourable currency impact, partially offset by a 1% drag from acquisitions, divestitures, and other factors. Operating income surged 31% to $816 million, while adjusted operating income rose 15% to $1.051 billion, pushing the adjusted operating margin up by 170 basis points to 26.3%.
Aon credited the increase in adjusted operating income to organic revenue growth, efficiencies from its Aon Business Services (ABS) platform, and restructuring savings, partly offset by higher expenses linked to long-term investments.
Both of Aon’s main divisions delivered strong results. The Risk Capital segment’s revenue climbed 7% to $2.5 billion, with Commercial Risk Solutions growing 7% organically, led by North America and EMEA. Reinsurance Solutions posted 8% organic growth, driven by strong treaty and facultative placements and gains in its Strategy and Technology Group.
The Human Capital segment saw revenue rise 8% to $1.5 billion, reflecting 6% organic growth in Health Solutions from strong demand in health benefits and talent analytics, while Wealth Solutions achieved 5% organic growth, supported by retirement advisory work and investment expansion.
Chief executive officer Greg Case said the performance underscored the strength of the company’s “Aon United” strategy, accelerated through its 3×3 Plan.
“We are attracting top talent in high-growth areas, scaling our data and analytics across our Risk Capital and Human Capital businesses, expanding in the middle market and increasing the value we deliver to clients,” Case said.
Operating cash flow rose 13% to $1.148 billion, with free cash flow also up 13% to $1.079 billion.
Aon’s leadership reaffirmed confidence in achieving its 2025 financial targets, adding that the firm is well positioned for sustainable growth into 2026 and beyond.