Core Viewpoint - Aon plc reported mixed financial results for Q1 2025, with adjusted earnings per share missing estimates but total revenues showing year-over-year growth [1][2]. Financial Performance - Adjusted earnings per share for Q1 2025 were $5.67, missing the Zacks Consensus Estimate by 6.1%, but improved by $0.01 from the previous year [1]. - Total revenues increased by 16% year over year to $4.73 billion, although this was 2.6% below consensus expectations [1]. - Organic revenue growth was reported at 5% [1]. Operating Costs and Margins - Total operating expenses rose by 25% year over year to $3.3 billion, driven by higher costs associated with the NFP acquisition and long-term growth investments [3]. - Adjusted operating income grew by 12% year over year to $1.8 billion, but fell short of the estimated $1.9 billion [4]. - The adjusted operating margin decreased by 130 basis points year over year to 38.4% [4]. Segment Performance - **Commercial Risk Solutions**: Organic revenues grew by 5% year over year, with revenues of $2 billion, an 11% increase, but missed estimates by 4.8% [5]. - **Reinsurance Solutions**: Organic revenues improved by 4% year over year, with revenues of $1.2 billion, a 2% increase, but also missed estimates by 3.6% [6]. - **Health Solutions**: Organic revenues grew by 5% year over year, with revenues of $1 billion, a 40% increase, but fell short of estimates by 1.7% [7]. - **Wealth Solutions**: Organic revenues increased by 8% year over year, with revenues soaring by 40% to $519 million, exceeding estimates by 3.8% [8]. Financial Position - As of March 31, 2025, Aon had cash and cash equivalents of $964 million, down from $1.1 billion at the end of 2024 [9]. - Total assets increased to $50.3 billion from $49 billion at the end of 2024 [9]. - Long-term debt remained stable at $16.28 billion, while short-term debt totaled $1.3 billion [9]. Cash Flow and Capital Deployment - Cash flow from operations was $140 million, down from $309 million a year ago [10]. - Adjusted free cash flows decreased by 68% year over year to $84 million [10]. - Aon repurchased 0.6 million class A ordinary shares for approximately $250 million, with $2.1 billion remaining under its repurchase authorization [11]. Future Outlook - Aon expects mid-single-digit or higher organic revenue growth for 2025 and anticipates an expansion in adjusted operating margin [12]. - Adjusted EPS is projected to see strong growth this year, with free cash flow expected to witness double-digit growth in the long term [12]. - The Aon United Restructuring program aims for annual run-rate savings of approximately $350 million by the end of 2026, with $40 million in net savings realized in Q1 [13].

Financial Performance and Key Metrics - The company achieved organic revenue growth of 5% in Q1 2025, contributing to a total revenue increase of 16% to $4.7 billion [7][31][52] - Adjusted operating income margin was 38.4%, down 130 basis points from the previous year, reflecting the impact of the NFP acquisition [31][41] - Adjusted EPS was reported at $5.67, influenced by higher interest in shares [31][41] - Free cash flow generated was $84 million, with a return of $397 million in capital to shareholders, including a 10% increase in quarterly dividends [8][49] Business Line Performance - Commercial Risk Solutions reported 5% organic revenue growth, driven by strength in international P&C and North American core P&C business [32][34] - Reinsurance segment saw 4% organic revenue growth, supported by growth in treaty placements and double-digit growth in facultative placements [34][100] - Health Solutions also delivered 5% growth, primarily from a double-digit increase in the core health and benefits business [35] - Wealth Solutions was the highest growing line with 8% organic revenue growth, driven by NFP asset inflows and market performance [37] Market Data and Key Metrics - The company noted that while tariffs have posed risks, they have not significantly impacted financial results, and demand for their services remains strong [9][10] - The macroeconomic environment is complex, but the company sees opportunities to strengthen client relationships [19][20] Company Strategy and Industry Competition - The company is executing its "three by three" plan, focusing on sustainable organic revenue growth and margin expansion [6][18] - The integration of NFP is expected to enhance capabilities and drive growth in the middle market [13][21] - The company is committed to disciplined capital allocation, balancing growth investments with shareholder returns [27][56] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year guidance, including mid-single-digit organic revenue growth and margin expansion [20][30] - The company anticipates a strong second half of 2025, driven by higher limits at July 1 renewals and continued growth in international placements [34][105] - Management highlighted the importance of client retention and new business as key drivers of growth [78][82] Other Important Information - The company plans to host an investor day on June 9, focusing on long-term strategy and growth opportunities [22][56] - The company is on track to achieve $150 million in savings for the full year 2025, contributing to margin expansion [43] Q&A Session Summary Question: How is the M&A pipeline looking for NFP? - Management indicated a robust M&A pipeline and emphasized the importance of capital allocation in evaluating opportunities [65][71] Question: Can you provide more details on the commercial risk solutions growth? - Management noted that the 5% organic growth was driven by new business and strong retention, with a limited market impact [74][78] Question: What are the expectations for reinsurance in Q2? - Management expects Q2 performance to align with mid-single-digit guidance, with strong performance anticipated in the second half of the year [106] Question: How is the integration of NFP impacting growth? - Management confirmed that NFP contributed positively to organic growth and highlighted the connectivity between Aon and NFP [140][141]

Core Insights - Aon reported $4.73 billion in revenue for Q1 2025, a 16.2% year-over-year increase, but fell short of the Zacks Consensus Estimate by 2.63% [1] - The EPS for the quarter was $5.67, slightly up from $5.66 a year ago, but also missed the consensus estimate of $6.04 by 6.13% [1] Revenue Performance - Commercial Risk Solutions achieved organic revenue growth of 5%, slightly below the average estimate of 5.5% [4] - Reinsurance Solutions reported organic revenue growth of 4%, compared to the 5.7% average estimate [4] - Wealth Solutions saw organic revenue growth of 8%, exceeding the 5.2% estimated growth [4] - Health Solutions had organic revenue growth of 5%, below the 5.9% average estimate [4] - Consolidated organic revenue growth was 5%, compared to the 5.7% average estimate [4] Revenue Breakdown - Revenue from Reinsurance Solutions was $1.19 billion, below the estimated $1.23 billion, with a year-over-year change of +1.9% [4] - Revenue from Health Solutions was $1.03 billion, slightly below the $1.04 billion estimate, representing a +40% year-over-year change [4] - Revenue from Commercial Risk Solutions was $2 billion, below the $2.10 billion estimate, with a +10.7% year-over-year change [4] - Revenue from Wealth Solutions was $519 million, exceeding the estimated $499.98 million, with a +40.3% year-over-year change [4] - Intersegment elimination reported a loss of -$7 million, slightly worse than the -$6.50 million estimate, with a year-over-year change of -12.5% [4] Stock Performance - Aon's shares have returned -8.6% over the past month, compared to the Zacks S&P 500 composite's -4.8% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market [3]

Earnings Conference Call First Quarter 2025 April 25, 2025 Any or all of Aon's forward-looking statements may turn out to be inaccurate, and there are no guarantees about Aon's performance. The factors identified above are not exhaustive. Aon and its subsidiaries operate in a dynamic business environment in which new risks may emerge frequently. Accordingly, you should not place undue reliance on forward-looking statements, which speak only as of the dates on which they are made. In addition, results for pr ...

Core Insights - Aon plc reported a total revenue increase of 16% to $4.7 billion for Q1 2025 compared to Q1 2024, driven by organic revenue growth of 5% and contributions from the acquisition of NFP [2][3][9] - Adjusted operating income grew by 12% to $1.8 billion, while diluted EPS decreased by 17% to $4.43, reflecting the impact of foreign currency translation and increased operating expenses [2][9][26] - The company reaffirmed its 2025 guidance, expecting continued organic revenue growth, adjusted operating margin expansion, and strong adjusted EPS growth [9][26] Revenue Summary - Total revenue for Q1 2025 was $4.7 billion, up from $4.1 billion in Q1 2024, with Risk Capital revenue increasing by 7% to $3.2 billion and Human Capital revenue rising by 40% to $1.5 billion [3][9][11] - Organic revenue growth was 5%, with contributions from both Risk Capital and Human Capital segments [3][14][16] Expense Overview - Total operating expenses increased by 25% to $3.3 billion, primarily due to the inclusion of NFP's operating expenses and investments in long-term growth [4][18][21] - Compensation and benefits expenses rose by 19% to $2.2 billion, reflecting the integration of NFP and organic revenue growth [18][21] Cash Flow Analysis - Cash provided by operations decreased by 55% to $140 million, attributed to higher payments related to incentive compensation and restructuring [8][10] - Free cash flow fell by 68% to $84 million, reflecting a decrease in cash flows from operations and an increase in capital expenditures [10][40] Shareholder Returns - Aon repurchased 0.6 million class A ordinary shares for approximately $250 million in Q1 2025, with $2.1 billion remaining under its share repurchase program [7][9] - The company announced a 10% increase in its quarterly dividend, marking the 15th consecutive year of dividend growth [9][26] Tax and Shareholder Metrics - The effective tax rate for Q1 2025 was 21.4%, down from 23.2% in the prior year, with an adjusted effective tax rate of 20.9% [6][41] - Weighted average diluted shares outstanding increased to 217.9 million from 200.1 million in the prior year [7][41]

Exhibit 99.1 Investor Relations News from Aon Aon Reports First Quarter 2025 Results DUBLIN - April 25, 2025 - Aon plc (NYSE: AON) today reported results for the three months ended March 31, 2025. | | | First Quarter 2025 | | | --- | --- | --- | --- | | | 2025 | 2024 | Change | | Total revenue | $4,729 | $4,070 | 16% | | Organic revenue growth (Non-GAAP) | | | 5% | | Operating income | $1,461 | $1,465 | —% | | Adjusted operating income (Non-GAAP) | $1,816 | $1,615 | 12% | | Operating margin | 30.9% | 36.0% ...

Leading insurer Aon PLC (AON) is set to report its first-quarter 2025 results on April 25, before the opening bell. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings is currently pegged at $6.04 per share on revenues of $4.86 billion. (See the Zacks Earnings Calendar to stay ahead of market-making news.)The first-quarter earnings estimate has been constant over the past week. The bottom-line projection indicates a year-over-year increase of 6.7%. Moreover, the Zacks Consensus Estimate f ...

Core Insights - Analysts project Aon (AON) will report quarterly earnings of $6.04 per share, reflecting a 6.7% year-over-year increase, with revenues expected to reach $4.86 billion, a 19.3% increase from the same quarter last year [1] Revenue Projections - Revenue from 'Reinsurance Solutions' is forecasted to be $1.23 billion, indicating a 5.7% increase from the previous year [4] - 'Health Solutions' revenue is expected to reach $1.04 billion, showing a significant increase of 42.4% year-over-year [4] - 'Commercial Risk Solutions' revenue is projected at $2.10 billion, reflecting a 16.3% increase from the prior year [4] - 'Wealth Solutions' revenue is anticipated to be $499.98 million, marking a 35.1% increase from the year-ago quarter [5] Organic Revenue Growth Estimates - 'Commercial Risk Solutions - Organic Revenue Growth' is expected to be 5.5%, up from 3% reported in the same quarter last year [5] - 'Reinsurance Solutions - Organic Revenue Growth' is projected at 5.7%, down from 7% in the previous year [6] - 'Wealth Solutions - Organic Revenue Growth' is estimated to be 5.2%, compared to 4% reported last year [6] - 'Consolidated - Organic Revenue Growth' is forecasted at 5.7%, slightly up from 5% in the same quarter last year [7] - 'Health Solutions - Organic Revenue Growth' is expected to be 5.9%, down from 6% reported in the previous year [7] Stock Performance - Aon's shares have shown a return of -9.5% over the past month, compared to a -8.9% change in the Zacks S&P 500 composite [7] - AON holds a Zacks Rank 3 (Hold), indicating it is expected to perform in line with the overall market in the near future [7]

Group 1 - Aon is a provider of professional services, offering a range of solutions including commercial risk, reinsurance, retirement, health, and data analytics [2] - The company serves various sectors such as aerospace, technology, financial institutions, agribusiness, life sciences, and healthcare [2] - Aon has a global presence with offices and distribution centers across the Middle East, Africa, Asia-Pacific, Europe, and North America [2] Group 2 - The report titled "Enterprise Tech Ecosystem Series: Aon 2025" provides insights into Aon's technology activities, including digital transformation strategies and innovation programs [1][3] - Key topics covered in the report include technology initiatives, partnerships, product launches, and estimated ICT budgets [5] - The report also details Aon's technology themes, objectives, and benefits of various technology initiatives [5]

Wall Street expects a year-over-year increase in earnings on higher revenues when Aon (AON) reports results for the quarter ended March 2025. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on April 25. On the other ...