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Morningstar’s Analysis

Valuation
Currency in USD
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Aon Sees Unusually High Growth in Second Quarter

Brett Horn, CFA Senior Equity Analyst

Analyst Note

| Brett Horn, CFA |

Like its peers, Aon reported unusually strong growth in the second quarter, as the company benefited from both strong insurance market pricing and the bounceback in the economy. Overall revenue was up 16% year over year in the quarter, or 11% excluding currency impacts and acquisitions. We think near-term tailwinds and easy comparisons will drive outsized growth for the company this year, but would caution that modest and stable organic growth has been the norm for Aon historically and is our expectation over the long term. We will maintain our $222 fair value estimate and narrow moat rating.

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Company Profile

Business Description

Aon is a leading global provider of insurance and reinsurance brokerage and human resource solutions. Its operations are tilted toward its brokerage operations. Headquartered in London, Aon has about 50,000 employees and operations in 120 countries around the world.

Contact
122 Leadenhall Street, The Aon Centre, The Leadenhall Building
London, EC3V 4AN, United Kingdom
T +44 2076235500
Sector Financial Services
Industry Insurance Brokers
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2020
Stock Type
Employees 50,000

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