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Aon posts 5% organic growth in Q2, reaffirms 2026 guidance
Net income attributable to shareholders fell 5% to $551 million, while Aon said it returned $775 million to shareholders in the quarter.
Aon plc reported second-quarter 2026 results with total revenue up 2% to $4.2 billion, driven by 5% organic revenue growth and a 1% favorable foreign currency translation effect. The broker said results also reflected a 4% unfavorable impact from divestitures, including the sales of NFP Wealth and Stroz Friedberg, and it is operating in the final year of its three-year 3x3 Plan under its Aon United strategy, according to Insurance Business.
Aon’s Risk Capital revenue rose 5% to $3.0 billion, while Human Capital revenue fell 4% to $1.2 billion. Operating income increased 7% to $915 million, with operating margin expanding 80 basis points to 21.5%, and adjusted operating income rose 5% to $1.23 billion, with adjusted operating margin up 70 basis points to 28.9%. Diluted EPS declined 3% to $2.58, though adjusted diluted EPS increased 9% to $3.81; net income attributable to shareholders fell 5% to $551 million, but adjusted net income rose 7% to $814 million.
In its segments, Commercial Risk Solutions grew 5% organically, citing strength in EMEA and North America, including double-digit construction growth and solid US core P&C performance. Reinsurance Solutions also grew 5% organically, supported by new business and strong retention in treaty placements, along with double-digit growth in facultative placements; within Human Capital, Health Solutions rose 5% organically, while Wealth Solutions grew 5% on continued demand for retirement advisory work tied to regulatory change in the UK and EMEA.
Aon said it returned $775 million to shareholders during the quarter, including $600 million in share repurchases and $175 million in dividends, and first-half repurchases totaled $1.1 billion, already above its full-year objective of at least $1 billion. Cash provided by operations dropped 30% to $556 million and free cash flow fell 34% to $483 million due to tougher comparisons with the prior-year period that included proceeds unrelated to current quarter operations, and the company reaffirmed 2026 guidance for mid-single-digit or greater organic revenue growth and adjusted operating margin expansion of 70 to 80 basis points.