Aon’s net income dips 1% YoY in H1 2024

This was equivalent to $1.63b.

Aon’s net income in the six months to June (H1 2024) dipped by 1% to $1.63b, attributable to a surge of 21% in expenses, but was partially offset by higher interest income and revenue.

In the second quarter, total revenue increased by 18% to $3.8b compared to the previous year, driven by acquired revenues from NFP and 6% organic revenue growth. This was slightly offset by a 1% negative impact from foreign currency translation. 

Likewise, the quarter’s net income contracted 6% to $538m.

Total operating expenses rose by 33% to $3.1b in Q1 2024, primarily due to NFP's ongoing operating expenses, charges from the Accelerating Aon United restructuring programme, increased expenses related to the 6% organic revenue growth, and investments in long-term growth. 

These increases were partially mitigated by $25m in restructuring savings and a $9m favourable impact from foreign currency translation.

However, adjusted net income per share increased by 6% to $2.93, including a $0.06 per share negative impact from foreign currency translation, compared to $2.76 in the prior year.

The company’s earnings per share (EPS) decreased 9% to $2.46, and adjusted EPS increased 6% to $2.93