Aon plc reported revenue of $4.3 billion during the fourth quarter of 2025, an increase of $153 million or 4% from $4.1 billion in Q4 2024.
For Q4 2025, Aon saw organic revenue growth of 5%, compared with 6% during the same period in 2024.
Net income attributable to Aon shareholders increased 136% to $1.7 billion during Q4 2025, compared to $716 million in the prior-year period. Adjusted net income attributable to Aon shareholders increased 9% to $1.1 billion, compared to $965 million in the prior-year period.
Total revenue for full-year 2025 increased 9% to $17.2 billion (revenue for FY 2024 = $15.7 billion), reflecting organic revenue growth of 6%, level with 2024. (Aon’s rival Marsh reported organic growth of 4% during Q4 and FY 2025.)
Net income attributable to Aon shareholders for FY 2025 increased to $3.7 billion, or $17.02 per share on a diluted basis, compared to $2.7 billion, or $12.49 per share on a diluted basis, in the prior year.
Business Segments
The company’s business segments are Risk Capital (which includes Commercial Risk Solutions and Reinsurance Solutions) and Human Capital (which includes Health Solutions and Wealth Solutions).
Risk Capital’s revenue increased $171 million, or 7%, to $2.7 billion, and Human Capital revenue decreased $16 million, or 1%, to $1.6 billion.
Commercial Risk Solutions reported $2.3 billion in Q4 revenue, with organic revenue growth of 6%. Aon said this increase reflects strong growth in North America, EMEA and Latin America, driven by net new business and ongoing strong retention. Performance was highlighted by strong growth in U.S. core P/C and double-digit growth in construction.
Reinsurance Solutions reported Q4 revenue of $379 million, with organic revenue growth of 8%, which Aon said, reflects double-digit growth in insurance-linked securities and the Strategy and Technology Group. Strong growth in facultative placements was driven by net new business and strong retention, partially offset by a modest unfavorable market impact.
Health Solutions’ organic revenue growth of 2% reflects strong growth in core health and benefits and consumer benefits solutions, driven by net new business, ongoing strong retention and positive market impact, partially offset by slower discretionary spend in Talent Solutions and delayed closed sales.
Wealth Solutions’ organic revenue growth of 2% reflects growth in Retirement, which Aon said was driven by continued strong demand for advisory work in the UK and EMEA related to the ongoing impact of regulatory change, partially offset by the sale of the NFP Wealth business.
“In the fourth quarter, we delivered 5% organic revenue growth and 16% free cash flow growth, and we achieved all of our full-year objectives, including a second straight year of 6% organic revenue growth,” commented Greg Case, president and CEO, in a statement accompanying Aon’s Q4 and FY 2025 results.
“Our strategic investments in data-driven insights and capabilities through Aon Business Services are enabling us to meet rising client demand in an increasingly complex environment,” Case added. “We are entering 2026 with momentum and are well positioned to continue to deliver for our clients, generate sustainable growth and create long-term shareholder value.”
Topics
Aon
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