Key Stats
- 2024 Revenue: $15.7 billion with 17% year-over-year growth
- Employees: Approximately 60,000 professionals worldwide
- Global Presence: Operations in more than 120 countries
- Market Position: Second largest insurance broker globally
- NYSE Listing: Trades under ticker symbol AON
Aon plc ranks as the second largest insurance broker in the world. The company provides risk management, insurance brokerage, reinsurance brokerage, and human capital consulting services to clients across industries.
Headquartered in London with North American operations based in Chicago, Aon serves corporations, governments, and individuals through two main segments. Risk Capital handles commercial insurance and reinsurance solutions. Human Capital manages health benefits, retirement plans, and talent advisory services.
The company traces its roots to 1919 when W. Clement Stone began selling insurance in Chicago. Today, Aon operates as a leading professional services firm ranked 300th on the Fortune 500. The name Aon comes from a Gaelic word meaning oneness, reflecting the company’s integrated approach to client service. Similar to how Marsh McLennan dominates the insurance brokerage sector, Aon has built its reputation through strategic acquisitions and organic growth.
Aon Plc History
Aon Plc Co-founders
Aon Plc Revenue
Aon has delivered consistent revenue growth over the past decade. The company reported $15.7 billion in total revenue for 2024, representing a 17% increase from the previous year. This growth reflects strong organic expansion and the NFP acquisition contribution.
The company generates revenue through commissions and fees from insurance and reinsurance placements, consulting services, and risk management solutions. Much like Accenture built its consulting business through strategic acquisitions, Aon has expanded its service offerings to drive top-line growth.
Aon Plc Market Cap
Aon plc trades on the New York Stock Exchange under the ticker AON. The company’s market capitalization reached approximately $75 billion in late 2024, reflecting investor confidence in its growth strategy.
The stock has appreciated significantly over the past decade as Aon executed its consolidation strategy. This mirrors the growth seen across professional services firms like Deloitte that have expanded through acquisitions and service diversification.
Aon Plc Acquisitions
Aon has pursued an aggressive acquisition strategy to expand its global footprint and service capabilities. The company completed more than 500 acquisitions since Patrick Ryan took leadership in 1982.
The 1997 Alexander and Alexander acquisition established Aon as a top-tier global broker. In 2008, the Benfield Group purchase for $1.75 billion made Aon one of the largest reinsurance intermediaries worldwide. The deal positioned Aon to compete directly with Munich Re and other major reinsurance players.
The 2010 Hewitt Associates acquisition for $4.9 billion transformed Aon into a human capital consulting leader. This deal added 23,000 employees and more than $3 billion in annual revenue. The combined entity, Aon Hewitt, became a major competitor to McKinsey in HR consulting.
Most recently, Aon completed the NFP acquisition in April 2024 for $13 billion. NFP operates as an independent platform within Aon, targeting middle-market clients in property and casualty, benefits, and wealth management. This acquisition significantly expanded Aon’s presence in the underserved middle-market segment.
Aon Plc Competitors
Aon operates in a competitive landscape dominated by large global insurance brokers. The company competes across commercial risk, reinsurance, and human capital consulting segments against firms with similar scale and capabilities.
Companies like Allianz, AXA Group, and Chubb represent major insurers that work with brokers like Aon while also competing for certain client segments.
| Rank | Company | Headquarters | Primary Services |
|---|---|---|---|
| 1 | Marsh McLennan | New York, USA | Insurance Brokerage, Risk Consulting |
| 2 | Aon plc | London, UK | Risk Capital, Human Capital |
| 3 | Arthur J. Gallagher | Rolling Meadows, USA | Insurance Brokerage, Risk Management |
| 4 | Willis Towers Watson | London, UK | Advisory, Broking, Solutions |
| 5 | Alliant Insurance Services | Newport Beach, USA | Specialty Insurance |
| 6 | Hub International | Chicago, USA | Insurance Brokerage |
| 7 | Brown and Brown | Daytona Beach, USA | Insurance Brokerage |
| 8 | Acrisure | Grand Rapids, USA | Insurance Distribution |
| 9 | Lockton Companies | Kansas City, USA | Insurance Brokerage |
| 10 | Howden Group | London, UK | Insurance Broking, Underwriting |