Aon (NYSE:AON) Q4 2025 Earnings call January 30, 2026 08:30 AM ET Company ParticipantsBob Huang - Equity Research Executive DirectorEdmund Reese - CFOGreg Case - President and CEOMatthew Heimermann - Managing DirectorConference Call ParticipantsCharlie Lederer - Research AnalystDavid Motemaden - Senior Equity Research AnalystElyse Greenspan - Managing Director and Equity Research AnalystOperatorGood morning, and thank you for holding. Welcome to Aon PLC's fourth quarter 2025 conference call. At this time, a ...

Core Insights - Aon reported a net income of $470 million in Q3 2025, marking a 32% increase year-on-year [1] - Total revenues for Q3 2025 reached $3.99 billion, a 7% increase from $3.7 billion in the same quarter last year [2] - The company’s adjusted net income attributable to shareholders grew by 11% to $660 million in Q3 2025 [1] Financial Performance - Net income attributable to shareholders for Q3 2025 was $458 million, reflecting a 34% year-on-year increase [1] - Diluted earnings per share for Q3 2025 were reported at $2.11, representing a growth of 34% [1] - Operating income for Q3 2025 stood at $816 million, up by 31% year-on-year [1] Revenue Breakdown - Revenue from Risk Capital activities in Q3 2025 reached $2.5 billion, a 7% increase [2] - Human Capital revenue rose by 8% to $1.5 billion in Q3 2025 [2] - Commercial Risk Solutions within Risk Capital posted organic revenue growth of 7% [2] Business Unit Performance - The Commercial Risk Solutions unit experienced growth due to increased activity in property and casualty lines in the US and demand for mergers and acquisitions services [3] - Reinsurance Solutions reported 8% organic revenue growth, driven by new business and strong retention [3] Shareholder Returns - Aon repurchased 700,000 class A ordinary shares at a cost of approximately $250 million during Q3 2025 [4] - By September 30, 2025, Aon had around $1.6 billion shares remaining under its share buyback authorization [4] Year-to-Date Performance - For the first nine months of 2025, net income grew by 3% to $2.04 billion [4] - Revenue for the first nine months of 2025 increased by 12% to $12.88 billion [5] - Operating income for the first nine months climbed by 14% to $3.13 billion [4] Strategic Outlook - Aon’s president and CEO highlighted the success of the Aon United strategy and the 3x3 Plan in delivering strong results [5] - The company remains confident in achieving its full-year 2025 financial targets and is well-positioned for sustainable growth in 2026 and beyond [5]