Greg Case, Aon, Chief Executive Officer commented:
"In the first quarter, our team delivered strong financial results with 8% organic revenue growth, operating margin expansion of 60 basis points to 38.0%, and EPS growth of 13%"
"Our performance demonstrates how increasing global volatility has further reinforced the relevance of our Aon United strategy. In the face of rising complexity and uncertainty, our colleagues will continue to employ the advanced analytics and underlying technology of our Aon Business Services platform to identify areas of unmet need, improve service standards, and accelerate delivery of new solutions that provide clients the clarity and confidence they need to protect and grow their business."
First quarter key metrics
- Total revenue increased 4% to $3.7 billion, including organic revenue growth of 8%
- Operating margin increased 190 basis points to 37.2%, and operating margin, adjusted for certain items, increased 60 basis points to 38.0%
- EPS increased 18% to $4.73, and EPS, adjusted for certain items, increased 13% to $4.83
- For the first three months of 2022, cash flows from operations decreased 17% to $463 million, and free cash flow decreased 17% to $440 million
First quarter highlights
- Repurchased 2.8 million class A ordinary shares for approximately $0.8 billion
- Announced $7.5 billion increase in share repurchase authorization and 10% increase to quarterly cash dividend
- Announced the acquisition of actuarial software platform Tyche, expanding Aon's existing capital modelling capabilities to help re/insurer clients rethink access to capital and make better business decisions
- Named to Fast Company's annual list of the World's Most Innovative Companies, based on Aon's approach to valuing intangible assets in Intellectual Property Solutions