Financial Data and Key Metrics Changes - Aon PLC achieved 6% organic revenue growth for the second consecutive year, with total revenue increasing by 9% year-over-year to $17 billion [16] - Adjusted operating margin expanded by 90 basis points to 32.4%, and adjusted EPS rose by 9% to $17.07 [16] - Free cash flow increased by 14% year-over-year, totaling $3.2 billion for the full year [29] Business Line Data and Key Metrics Changes - Commercial risk and reinsurance segments both delivered organic revenue growth of 6% or better, driven by new business and strong retention [17] - Health Solutions grew by 2%, reflecting mid-single-digit growth in core health and benefits offerings, while Wealth also generated 2% growth [20][21] - The construction sector experienced double-digit growth, particularly in data center projects, contributing significantly to overall performance [17][58] Market Data and Key Metrics Changes - Insurance-linked securities saw record cat bond issuances reaching $59 billion, indicating strong demand for uncorrelated asset classes [19] - The company anticipates softer property renewals in January 2026, with expected rate declines of 15%-20% [19] - Despite market headwinds, Aon expects to maintain mid-single-digit organic revenue growth in 2026, supported by strong international placements and analytics demand [20] Company Strategy and Development Direction - Aon's 3x3 plan continues to drive strategic progress, integrating risk capital and human capital while enhancing client leadership and business services [3][4] - The company is focused on innovation, particularly through AI and alternative capital solutions, to meet rising client demand [4][11] - Aon is committed to a balanced capital allocation model, prioritizing high-return investments and shareholder returns, with $7 billion in available capital for 2026 [34][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to sustain performance through 2026, citing strong client relationships and a robust talent acquisition strategy [12][14] - The leadership highlighted the importance of innovation in navigating a complex macro environment and emphasized the company's unique position in the data center market [56][66] - Aon remains optimistic about the growth potential in the middle market and the overall resilience of its business model [35][44] Other Important Information - The company reported $1.3 billion in free cash flow for Q4 2025, contributing to a total of $3.2 billion for the year [29] - Aon executed a disciplined portfolio management strategy, including the sale of NFP Wealth, which strengthened its capital position [30][34] - The company is on track to deliver $450 million in total savings from its restructuring initiatives [27] Q&A Session Summary Question: Talent and Retention in Today's Environment - Aon is experiencing strong net hiring, with a 6% increase in revenue-generating talent, despite competitive pressures in the market [38][40] - Management emphasized the importance of investing in talent and capabilities to attract and retain top performers [39][41] Question: Acquisition and Inorganic Growth Opportunities - Aon is focused on maintaining a balanced capital allocation model, with M&A being a key component, particularly in high-margin areas [44][45] - The company has a robust pipeline of acquisition opportunities but will prioritize strategic fit and financial criteria [46][47] Question: Data Center Contribution to Organic Growth - Management highlighted the unique and monumental opportunity presented by data centers, which are expected to contribute significantly to organic growth in 2026 [55][56] - Aon is well-positioned in the data center market, with ongoing discussions and innovative solutions tailored to client needs [66][67]

Financial Data and Key Metrics Changes - For the full year 2025, organic revenue growth was 6%, total revenue increased by 9% year-over-year to $17 billion, and adjusted EPS rose by 9% to $17.07 [16][31] - In Q4 2025, organic revenue growth was 5%, total revenue increased by 4% year-over-year to $4.3 billion, and adjusted EPS was up 10% to $4.85 [16][17] - Adjusted operating margin expanded by 90 basis points for the full year to 32.4% and by 220 basis points in Q4 to 35.5% [16][25] Business Line Data and Key Metrics Changes - Commercial Risk and Reinsurance both delivered organic revenue growth of 6% or better, driven by new business and strong retention [17] - Health Solutions grew by 2% in Q4, reflecting mid-single-digit growth in core Health and Benefits offerings, while Wealth also generated 2% growth [20][21] - The construction sector showed double-digit growth, particularly in data center projects, contributing to overall performance [17][20] Market Data and Key Metrics Changes - Insurance-linked securities saw double-digit growth, benefiting from record cat bond issuances, which reached $59 billion outstanding [19] - The market for property renewals is expected to soften, with rate declines of 15%-20% anticipated [19] - Despite market headwinds, the company expects to maintain mid-single-digit organic revenue growth in 2026, supported by strong international placements and analytics demand [20][31] Company Strategy and Development Direction - The company is focused on executing its 3x3 Plan, which integrates Risk Capital and Human Capital, and enhances client leadership through Aon Business Services [3][4] - Aon is committed to innovation, including the deployment of AI and expanding its Risk Analyzers and Claims Copilot offerings [4][5] - The company aims to leverage its strong capital position, with $7 billion available for investments and capital returns, while continuing to pursue high-return M&A opportunities [15][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to sustain performance through 2026, citing strong client demand and the effectiveness of their strategic initiatives [12][14] - The company highlighted the importance of talent acquisition and retention in driving growth, with a net increase of 6% in revenue-generating hires [11][40] - Management acknowledged the competitive environment for talent but emphasized their unique position to attract and retain top performers [38][39] Other Important Information - The company generated $1.3 billion in free cash flow in Q4, bringing the full-year total to $3.2 billion, an increase of 14% compared to 2024 [29] - Aon returned $1.6 billion in capital to shareholders in 2025, including $1 billion in share repurchases [30] - The company expects to continue its disciplined capital allocation strategy, balancing investments for growth with shareholder returns [34][46] Q&A Session Summary Question: Talent and retention in the current environment - Management acknowledged the competitive landscape for talent but noted a net increase in revenue-generating hires, emphasizing their investment in talent effectiveness [38][40] Question: Acquisition and inorganic growth opportunities - Management indicated a robust pipeline for M&A opportunities, focusing on high-margin, high-growth areas, while maintaining a disciplined capital allocation model [42][45] Question: Data center contribution to organic growth - Management highlighted the unique opportunity presented by data centers, noting their significant involvement and the potential for future growth in this area [55][59]

Financial Data and Key Metrics Changes - In 2025, the company achieved 6% organic revenue growth for the second consecutive year, with total revenue increasing by 9% year-over-year to $17 billion [16][30] - Adjusted operating margin expanded by 90 basis points to 32.4%, while adjusted EPS rose by 9% to $17.07 [16][30] - Free cash flow increased by 14% compared to 2024, totaling $3.2 billion for the year [28][30] Business Line Data and Key Metrics Changes - Commercial risk and reinsurance segments both delivered organic revenue growth of 6% or better, driven by new business and strong retention [17][30] - Health Solutions grew by 2%, reflecting mid-single-digit growth in core health and benefits offerings, while Wealth also generated 2% growth [19][20] - The construction sector experienced double-digit growth, particularly in data center projects, contributing significantly to overall performance [17][19] Market Data and Key Metrics Changes - The company noted a record issuance of insurance-linked securities, reaching $59 billion, as investors sought uncorrelated asset classes [18] - Despite anticipated rate declines of 15%-20% in January 2026 property renewals, the company expects to maintain mid-single-digit organic revenue growth [19][30] - The North American addressable market for middle market acquisitions is estimated at $31 billion, with the company actively pursuing tuck-in acquisitions [5][29] Company Strategy and Development Direction - The company is focused on executing its 3x3 plan, which integrates risk capital and human capital while enhancing client leadership and business services [3][4] - Investments in AI and innovative solutions, such as the Data Center Lifecycle Insurance Program, are central to the company's strategy to meet rising client demand [4][5] - The company aims to leverage its strong capital position, with $7 billion available for investments and capital returns, while continuing to prioritize high-growth opportunities [30][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to sustain performance through 2026 and beyond, citing strong client demand and effective execution of the strategic plan [12][14] - The company anticipates continued organic revenue growth driven by new business wins and strong retention rates, despite potential market headwinds [19][30] - Management highlighted the importance of talent acquisition and retention in driving growth, with a net increase of 6% in revenue-generating hires [21][39] Other Important Information - The company reported a significant expansion in its Data Center Lifecycle Insurance Program, increasing total capacity to $2.5 billion [5] - The company achieved $160 million in restructuring savings, contributing to margin expansion and operational efficiency [24][25] - The tax rate for the full year was 19.5%, which is an improvement of 60 basis points compared to the previous year [27] Q&A Session Summary Question: Talent and Retention in Today's Environment - Management acknowledged the competitive environment for talent but emphasized their ability to attract and retain talent through investments in AI and capabilities [36][39] Question: Acquisition and Inorganic Growth Opportunities - Management indicated a robust pipeline for M&A opportunities, focusing on high-margin, high-growth areas, while maintaining a disciplined capital allocation model [42][45] Question: Data Center Contribution to Organic Growth - Management highlighted the unique opportunity presented by data centers, noting their significant contribution to organic growth and the potential for future expansion [57][61]

Aon (AON) came out with quarterly earnings of $4.85 per share, beating the Zacks Consensus Estimate of $4.76 per share. This compares to earnings of $4.42 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +1.82%. A quarter ago, it was expected that this insurance brokerage would post earnings of $2.89 per share when it actually produced earnings of $3.05, delivering a surprise of +5.54%.Over the last four quarters, the company h ...

Earnings Conference Call Fourth Quarter 2025 January 30, 2026 Safe Harbor Statement This communication contains certain statements related to future results, or states Aon's intentions, beliefs and expectations or predictions for the future, all of which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from either ...

Exhibit 99.1 News from Aon Aon Reports Fourth-Quarter and Full-Year 2025 Results DUBLIN - January 30, 2026 - Aon plc (NYSE: AON) today reported results for the three and twelve months ended December 31, 2025. | | | Fourth Quarter 2025 | | | Full Year 2025 | | | --- | --- | --- | --- | --- | --- | --- | | | 2025 | 2024 | Change | 2025 | 2024 | Change | | Total revenue | $4,300 | $4,147 | 4% | $17,181 | $15,698 | 9% | | Organic revenue growth (Non-GAAP) | | | 5% | | | 6% | | Operating margin | 28.1% | 26.3% | ...

Core Insights - Aon plc reported strong financial results for Q4 and full year 2025, highlighting a successful execution of its strategic initiatives, particularly the Aon United strategy and the 3x3 Plan [2][5]. Financial Performance - Total revenue for Q4 2025 increased by 4% to $4.3 billion compared to Q4 2024, driven by 5% organic revenue growth and a 2% favorable impact from foreign currency translation [3][14]. - For the full year 2025, total revenue rose by 9% to $17.2 billion, reflecting 6% organic revenue growth, a 2% contribution from acquisitions, and a 1% favorable impact from foreign currency translation [29][30]. - The diluted EPS for Q4 2025 was $7.82, a 138% increase from $3.28 in Q4 2024, while the adjusted EPS rose by 10% to $4.85 [2][28]. Revenue Breakdown - Risk Capital revenue in Q4 2025 increased by 7% to $2.7 billion, while Human Capital revenue decreased by 1% to $1.6 billion [3][14]. - Organic revenue growth in Risk Capital was 6%, with strong performance in North America, EMEA, and Latin America [15][43]. - Human Capital's Health Solutions segment saw a 2% organic revenue growth, driven by core health and benefits solutions [17][18]. Operating Metrics - Operating income for Q4 2025 increased by 11% to $1.208 billion, with an operating margin of 28.1%, up from 26.3% in the prior year [25][42]. - Adjusted operating income also rose by 11% to $1.525 billion, with an adjusted operating margin of 35.5%, compared to 33.3% in Q4 2024 [25][24]. Cash Flow and Capital Management - Cash provided by operations for 2025 increased by 15% to $3.5 billion, while free cash flow rose by 14% to $3.2 billion [10][11]. - The company repaid $1.9 billion in debt during 2025 and expects to maintain a strong balance sheet for future capital allocation [5][31]. Future Guidance - Aon anticipates mid-single-digit or greater organic revenue growth for 2026, along with adjusted operating margin expansion and strong adjusted EPS growth [5][6].

Core Insights - Aon plc is scheduled to report its fourth-quarter 2025 results on January 30, 2026, with earnings estimated at $4.76 per share and revenues at $4.38 billion [1][5] Financial Performance - The fourth-quarter earnings estimate reflects a year-over-year increase of 7.7%, while the revenue estimate indicates a growth of 5.5% compared to the previous year [2] - For the full year 2025, Aon's revenue is projected at $17.26 billion, representing a 9.9% year-over-year increase, and earnings per share are expected to be $16.96, indicating an 8.7% growth [3] Earnings History - Aon has beaten the consensus estimate in three of the last four quarters, with an average surprise of 1.6% [3] - The reported earnings for the last four quarters were as follows: $3.05, $3.49, $5.67, and $4.42, with an average surprise of 1.58% [4] Revenue Growth by Segment - The Commercial Risk Solutions segment is expected to see a revenue growth of 6.2% year-over-year, while the Health Solutions segment is projected to grow by 7.1% [9][10] - The Reinsurance Solutions segment is estimated to grow by 5.8%, benefiting from favorable retention rates and new business generation [11] - The Wealth Solutions segment, however, is expected to decline by 0.9% due to divestments [12] Operating Expenses - Total operating expenses for the fourth quarter are projected to exceed $3.1 billion, primarily driven by increased compensation and benefits expenses [12]

Many Americans believe climate change climate change is likely to cause some cities to be lost to rising sea levels, and they also expect mass displacement of people and serious damage to the global economy, a new poll shows.A YouGov survey on climate change and the environment shows respondents think climate change is likely to cause cities to be lost to rising sea levels (56%), mass displacement of people from some parts of the world (57%) and serious damage to the global economy (58%). The online survey ...

Core Insights - Aon plc has launched the Bermuda Insurance Liability Top-Up (BILT) to enhance excess casualty capacity for US construction projects [1][2] - The facility offers up to $50 million in additional coverage above a minimum $100 million attachment point, targeting project-specific construction risks [2] - The US construction market is expected to grow due to shifts in interest rates and significant investments in sectors like data centers and healthcare [2] Group 1 - BILT is a first-of-its-kind facility in the Bermuda market, providing a large block of efficiently placed casualty capacity supported by experienced local insurers [3] - Underwriting and claims management for BILT are led by Chubb, with participation from highly rated Bermuda insurers such as Arch, Ascot, AXA XL, Hamilton, and Liberty Mutual [3] - Coverage terms for BILT can extend up to seven years, with completed operations coverage available for up to 10 years or aligned with the applicable statute of limitations [3] Group 2 - BILT expands on Aon's existing London-based Liability Facility Top-Up (LiFT), allowing for a combined total of up to $100 million in US casualty capacity for construction projects [4] - Participation in LiFT is not required to access BILT, as BILT operates as a standalone facility within the Bermuda market [4]