Aon Reports First Quarter 2020 Results

DUBLIN (STL.News) Aon plc (NYSE: AON) today reported results for the three months ended March 31, 2020.

Aon Reports First Quarter 2020 Results reports First Quarter Key Metrics From Continuing Operations:

  • Total revenue increased 2% to $3.2 billion, including organic revenue growth of 5%
  • Operating margin increased to 32.1%, and operating margin, adjusted for certain items, increased 200 basis points to 35.7%
  • EPS increased to $3.29, and EPS, adjusted for certain items, increased 11% to $3.68
  • For the first three months of 2020, cash flows from operations increased $264 million to $338 million, and free cash flow increased $262 million to $279 million

Aon First Quarter Highlights

  • Entered into a definitive agreement for an all-stock combination with Willis Towers Watson to accelerate innovation on behalf of clients
  • Repurchased 2.2 million Class A Ordinary Shares for approximately $460 million
  • Completed the acquisition of CoverWallet, expanding the Company’s position in the fast-growing commercial insurance market for small and medium-sized businesses, as well as the opportunity to leverage CoverWallet’s platform to develop and scale innovative digital client experiences
  • Subsequent to the close of the quarter, the Company completed the move of the jurisdiction of incorporation for the firm’s parent company to Ireland

NOTE: this is NOT the complete release.