Global professional services firm Aon plc reported strong financial results for the three months ended Sept. 30, 2025, with total revenue rising 7%.
The company’s total revenue for the third quarter reached $3.997 billion, up from $3.721 billion in the prior-year period. This growth was attributed to a 7% organic revenue increase, a 1% favourable impact from foreign currency, and a partial offset from a 1% unfavourable impact from acquisitions, divestitures, and other items.
The firm’s operating income rose 31% to $816 million, compared with $623 million in the third quarter of 2024. On an adjusted basis, operating income increased 15% to $1.051 billion, and the adjusted operating margin expanded by 170 basis points to 26.3%.
According to the company, the increase in adjusted operating income reflected “organic revenue growth, scale efficiencies driven by ABS, and net restructuring savings,” partially offset by higher expenses associated with revenue growth and investments in long-term initiatives.
Both of Aon’s primary business segments contributed to the positive results. The Risk Capital segment’s revenue increased 7%, or $170 million, to $2.5 billion. Within this segment, Commercial Risk Solutions achieved 7% organic revenue growth, led by strong performance in North America and EMEA. Reinsurance Solutions posted an 8% organic revenue increase, reflecting growth in treaty placements and double-digit gains in facultative placements and the Strategy and Technology Group.
The Human Capital segment reported an 8% revenue increase, from $106 million to $1.5 billion. This included 6% organic revenue growth in Health Solutions, supported by strength in talent analytics and core health and benefits. Wealth Solutions delivered 5% organic growth, driven by Retirement advisory work and expansion in Investments.
Chief executive officer Greg Case said the results were driven by the “Aon United strategy, accelerated through our 3x3 Plan.”
“Our Aon United strategy, accelerated through our 3x3 Plan, is delivering strong results,” Case said. “We are attracting top talent in high-growth areas, scaling our data analytics across our core Risk Capital and Human Capital businesses, expanding in the middle market and increasing the value we deliver to our clients – winning in existing markets, creating demand in emerging areas and innovating unique capital solutions.”
Cash provided by operations for the quarter increased 13% to $1.148 billion, while free cash flow rose 13% to $1.079 billion.
Aon’s management expressed confidence in meeting its full-year 2025 financial targets, stating that the firm remains “well positioned to deliver sustainable growth in 2026 and beyond.”
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