Aon Reinsurance Solutions contributed $1.28 billion to Aon’s first-quarter 2026 revenue, helping push total revenue to $5 billion. This represents an increase of $305 million compared to the first quarter of 2025, driven by organic growth of 5% and favorable foreign exchange effects of 4%.
In the first quarter of 2026, venture capital revenue increased $311 million, or 10%, to $3.5 billion. Within this segment, commercial risk solutions generated revenue of $2.22 billion, up 11% year over year, while reinsurance solutions contributed the aforementioned $1.28 billion.
Business Risk Solutions growth in the first quarter was reportedly driven by double-digit expansion in North America and strong growth in Europe, the Middle East and Africa, driven by net new business and continued strong client retention.
Meanwhile, Reinsurance Solutions’ performance improved on the back of higher treaty placements, supported by net new business and strong retention, while there was also double-digit growth in interim placements.
Elsewhere, human capital revenue declined slightly, to $1.5 billion, a decrease of $6 million.
Within this segment, Health Solutions generated revenue of $1.12 billion, driven by strong growth in core health and wellness, particularly internationally driven by net new business, strong retention and positive net market impact. However, Wealth Solutions’ sales fell 19% to $420 million.
Aon reported group operating income of US$1.72 billion in the first quarter of 2026, up from US$1.46 billion in the same period in 2025.
The company also highlighted its strong balance sheet and strong free cash flow generation, which support 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 reiterated its full-year 2026 guidance, maintaining expectations for mid-single-digit or higher organic revenue growth, 70-80 basis points of adjusted operating margin expansion, strong adjusted EPS growth, and double-digit free cash flow growth.
Greg Case, President and CEO of Aon, commented: “Our strong start to the year reflects the continued execution of our 3×3 plan and the progress made in accelerating Aon’s joint customer-centric strategy.
In the first quarter, we delivered 5% organic revenue growth, expanded operating profit, and generated significant free cash flow, increasing our confidence that we will achieve our full-year targets. “
“As risk and complexity continue to increase, large and mid-market customers around the world are increasingly demanding integrated, high-value solutions that combine expertise, data and analytics at scale.
“Our long-term focus on these customer segments, coupled with investments in analytics, technology and innovative capital solutions, is expanding our addressable market. As a result, we are well-positioned to deepen our relevance to our customers and deliver durable growth and long-term shareholder value.”
