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Morningstar’s Analysis

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Aon Benefits From a Harder Insurance Market in First Quarter

Brett Horn, CFA Senior Equity Analyst

Analyst Note

| Brett Horn, CFA |

Narrow-moat Aon reported a strong first quarter, as the company is benefiting from stronger insurance pricing and seeing some bounceback in macro-sensitive businesses, and its top-line results slightly outstripped its peers. We think Aon and the other brokers will enjoy significant tailwinds this year but view this as a temporary situation, and our long-term expectation for stable but only modest growth remains unchanged. We will maintain our $212 fair value estimate.

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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.

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