Aon 1Q Profit, Margin Growth Driven by Higher Revenue
April 30 2021 - 5:46AM
Dow Jones News
By Matt Grossman
Aon PLC on Friday posted a larger first-quarter profit year over
year, as each of its primary business segments recorded higher
revenue.
The Dublin-based insurance company logged net income
attributable to shareholders of $4.00 a share, compared with $3.29
a share a year earlier. Total net income attributable to
shareholders was $913 million, up from $772 million.
On an adjusted basis, the company's earnings were $4.28 a share.
Analysts polled by FactSet had forecast adjusted earnings of $4.05
a share.
Aon's revenue grew by 10%, to $3.53 billion from $3.22 billion a
year earlier, the company said. Analysts were expecting revenue of
$3.35 billion.
Revenue from commercial-risk services improved 12% to $1.29
billion with help from strong new-business generation in the U.S.,
Aon said. Revenue at the reinsurance- and retirement-services
segments each grew by 9%, to $922 million and $434 million,
respectively, the company said.
Aon's operating margin expanded to 35.3% from 32.1% a year
earlier. The company attributed the margin growth to higher revenue
and disciplined management of expenses.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
April 30, 2021 06:31 ET (10:31 GMT)
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