Insurance broker Aon profit jumps on risk management strength

May 1 (Reuters) - Insurance ‌brokerage ​firm ​Aon reported higher first-quarter profit on Friday, on the back ‌of strong demand for its risk-management solutions.

Insurance ⁠spending has remained resilient as individuals and ‌businesses prioritize coverage in ‌a complex environment to mitigate against risks such as natural disasters and ​cyber crime.

Here are some more details:

• Revenue from Aon's risk capital arm, ⁠which helps clients to measure and mitigate risk, rose ​9.7% to $3.50 billion in the quarter from a year earlier.

• Brokers ​generate revenue through commissions ‌based on premiums, tying their performance closely to the broader ⁠insurance industry.

• Adjusted net income attributable to Aon's shareholders rose to $1.4 billion, or $6.48 ⁠per share, for the quarter ended March 31, ​up from $1.24 billion, or $5.67 per share, a year earlier.

• The company reported total revenue of $5.03 ‌billion, with 5% organic growth.

• Peers Marsh McLennan and Willis Towers ‌Watson also posted a rise in ⁠first-quarter adjusted profit ‌pointing to ​steady industry-wide demand.

(Reporting by Pragyan Kalita in Bengaluru; Editing by Shailesh ‌Kuber)

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