Aon Reinsurance Solutions contributed $1.28 billion to Aon’s Q1 2026 revenue, helping drive total revenue to $5 billion. This represents an increase of $305 million from Q1 2025, supported by 5% organic growth and a 4% favourable foreign currency impact.
Risk Capital revenue rose by $311 million, or 10%, in Q1 2026 to $3.5 billion. Within this segment, Commercial Risk Solutions generated $2.22 billion, up 11% year on year, while Reinsurance Solutions contributed the aforementioned $1.28 billion.
Growth in Commercial Risk Solutions during the opening quarter of the year was reportedly driven by double-digit expansion in North America and strong growth in EMEA, underpinned by net new business and continued strong client retention.
Meanwhile, Reinsurance Solutions’ performance improved on the back of increased treaty placements, supported by net new business and strong retention, alongside a double-digit rise in facultative placements.
Elsewhere, Human Capital revenue declined slightly, falling to $1.5 billion, a decrease of $6 million.
Within this segment, Health Solutions generated $1.12 billion, supported by strong growth in core health and benefits, particularly international business—driven by net new business, strong retention, and a positive net market impact. Wealth Solutions, however, declined 19% to $420 million.
Aon reported group-wide operating income of $1.72 billion in Q1 2026, up from $1.46 billion in the same period of 2025.
The firm also highlighted its strong balance sheet and robust free cash flow generation, which supported its disciplined capital allocation strategy.
During the quarter, Aon returned $662 million to shareholders through dividends and share repurchases.
With all this in mind, Aon reaffirmed its full-year 2026 guidance, maintaining expectations for mid-single-digit or greater organic revenue growth, 70–80 basis points of adjusted operating margin expansion, strong adjusted earnings per share growth, and double-digit free cash flow growth.
Greg Case, president and CEO of Aon, commented, “Our strong start to the year reflects continued execution of our 3×3 Plan and progress in accelerating our client‑centric Aon United strategy.
In the first quarter, we delivered 5% organic revenue growth, expanded operating margin, and generated significant free cash flow, reinforcing our confidence in achieving our full‑year objectives.”
“As risk and complexity continue to grow, demand is increasing among global, large, and middle‑market clients for integrated, high‑value solutions that combine expertise, data, and analytics at scale.
“Our long‑standing focus on these client segments, along with our investments in analytics, technology, and innovative capital solutions, is expanding our addressable market. As a result, we are well-positioned to deepen our relevance with clients and deliver durable growth and long‑term shareholder value.”
