AON GENERATES ORGANIC GROWTH IN RETAIL AND REINSURANCE BUSINESS

Aon’s retail and reinsurance business achieved organic growth in the first quarter of the year, as the global broker exceeded analysts’ earnings forecasts. The risk solutions business posted revenues of $1.82bn, down 1% as a result of adverse foreign exchange movements, offset by 3% growth on an organic basis. The Aon Benfield reinsurance broking operations booked first-quarter revenues of $372m, with organic growth of 1%, primarily owing to growth from facultative placements, cedant demand in treaty placements and new business generation. However, this was partially offset by unfavourable global reinsurance markets. The first-quarter performance followed a difficult 2015 when the reinsurance business shrank on an organic basis every quarter except the last one. The broker’s retail insurance business achieved 4% organic growth, posting revenues of $1.5bn, on the back of growth in the Americas and international businesses.