Aon plc has reported total revenue of $4,101m for the third quarter of 2026, up 3% from $3,997m in the same period of 2025. Organic revenue growth was 6%, compared with 5% a year earlier.
Organic revenue growth was 7% in Commercial Risk, 7% in Reinsurance, 6% in Health, and 4% in Wealth.
Operating income was $809m, down 1%, and operating margin fell 70 basis points to 19.7%. Adjusted operating income rose 5% to $1,106m, and adjusted operating margin rose 70 basis points to 27.0%.
Diluted earnings per share (EPS) rose 6% to $2.23, and adjusted EPS rose 10% to $3.36. Net income attributable to Aon shareholders increased 4% to $476m, while adjusted net income attributable to Aon shareholders increased 8% to $715m. Free cash flow was $1,097m, up 2%.
For the first nine months of 2026, total revenue rose 4% to $13,381m and adjusted EPS rose 12% to $13.66.
"Our Aon United strategy continues to advance and differentiate our platform for clients," said Greg Case, President and CEO of Aon. "As we progress through the final year of our 3x3 Plan, our investments in AI-enabled analytics, innovative capabilities and capital solutions, and leading experts are helping clients address their risks, build resilience and drive better outcomes. At the same time, we are strengthening our context advantage and expanding our ability to serve clients across a broader market through the announced acquisition of USI, while creating new opportunities through greater access to both traditional and alternative sources of capital."
Aon expects the USI acquisition to close in the fourth quarter of 2026. It will then prioritise debt repayment, aiming to reach its leverage objective of 2.8x to 3.0x in approximately 24 months.
The company did not repurchase any shares in the third quarter. Approximately $7.7bn of repurchase authorisation remained as of 30 September 2026.
Aon is a global professional services firm providing risk, reinsurance, health, and wealth solutions.
