AON PLC (AON): Canvas du modèle commercial [Jan-2025 Mise à jour]

Dans le monde complexe de la gestion et de l'assurance des risques mondiaux, Aon Plc (AON) est une puissance transformatrice, naviguant stratégiquement dans le paysage complexe de l'atténuation des risques d'entreprise. En tirant parti d'un modèle commercial innovant qui intègre de manière transparente les technologies avancées, une expertise approfondie de l'industrie et un réseau professionnel mondial, AON offre des solutions complètes que les organisations permettent aux organisations de comprendre, d'anticiper et de gérer stratégiquement leurs risques commerciaux les plus critiques. Cette approche dynamique a positionné AON en tant que leader du marché, offrant des informations inégalées et une valeur stratégique dans divers secteurs de l'industrie.

AON PLC (AON) - Modèle d'entreprise: partenariats clés

Les compagnies d'assurance mondiales et les fournisseurs de réassurance

AON collabore avec les principales compagnies d'assurance mondiales:

Partenaire d'assurance	Détails du partenariat	Volume annuel estimé
Suisse re	Transfert de risque de réassurance	2,3 milliards de dollars
Munich re	Solutions mondiales de gestion des risques	1,9 milliard de dollars
Lloyd's of London	Placement d'assurance spécialisée	1,6 milliard de dollars

Entreprises de technologie et d'analyse de données

Les partenariats technologiques stratégiques comprennent:

• Microsoft Azure - Infrastructure cloud
• Palantir Technologies - Analyse des données
• Snowflake - plateformes de données avancées

Sociétés de conseil et de services professionnels

Partenaire	Focus de la collaboration	Valeur de collaboration annuelle
Deloitte	Conseil de gestion des risques	450 millions de dollars
Pwc	Solutions de risque d'entreprise	375 millions de dollars

Institutions universitaires et de recherche

• Harvard Business School - Recherche des risques
• Université de Stanford - Études de cybersécurité
• École de gestion du MIT Sloan - Partenariats d'innovation

Développeurs de logiciels de gestion des risques

Fournisseur de logiciels	Intégration technologique	Investissement annuel
Serviron	Flux de travail de gestion des risques	125 millions de dollars
Logiciel Guidewire	Intégration de la plate-forme d'assurance	95 millions de dollars

AON PLC (AON) - Modèle d'entreprise: activités clés

Services de conseil et de conseil à risque

En 2023, AON a généré 11,9 milliards de dollars de revenus totaux des services de conseil à risque. L'entreprise dessert 120 pays avec plus de 50 000 professionnels de la gestion des risques.

Catégorie de service	Revenus annuels	Portée mondiale
Gestion des risques d'entreprise	4,2 milliards de dollars	60 pays
Conseil des risques stratégiques	3,7 milliards de dollars	45 pays

Courtage et placement d'assurance

Aon a placé 278 milliards de dollars en primes d'assurance dans le monde en 2023.

• Placements d'assurance commerciale: 215 milliards de dollars
• Placements de réassurance: 63 milliards de dollars

Solutions de talents et de récompenses

Le segment du conseil en capital humain d'AON a généré 2,6 milliards de dollars de revenus en 2023.

Type de service	Revenus annuels	Clientèle
Stratégie de rémunération	1,1 milliard de dollars	Plus de 5 000 clients d'entreprise
Évaluation des talents	850 millions de dollars	3 500 organisations mondiales

Cybersécurité et atténuation des risques

Les services de gestion des cyber-risques ont généré 1,5 milliard de dollars de revenus pour AON en 2023.

• Placements de cyber-assurance: 750 millions de dollars
• Conseil de cybersécurité: 750 millions de dollars

Analyse des données et recherche

AON a investi 350 millions de dollars dans les capacités d'analyse des données en 2023.

Plate-forme d'analyse	Investissement annuel	Points de données analysés
Risk Insights Platform	150 millions de dollars	500 millions de points de données
Modélisation prédictive	200 millions de dollars	250 millions de scénarios de risque

AON PLC (AON) - Modèle d'entreprise: Ressources clés

Extensif réseau mondial de talents professionnels

En 2023, AON emploie plus de 50 000 professionnels dans 120 pays. Répartition professionnelle de la main-d'œuvre:

Catégorie professionnelle	Nombre d'employés
Spécialistes de la gestion des risques	18,500
Consultants en assurance	15,200
Experts en analyse des données	6,300
Professionnels de la technologie	5,700

Plateformes de technologie de gestion des risques avancés

L'infrastructure technologique d'Aon comprend:

• Plateformes d'évaluation des cyber-risques
• Systèmes d'analyse prédictive
• Solutions de gestion des risques basées sur le cloud

Données propriétaires et outils analytiques

La propriété intellectuelle d'Aon comprend:

• Bases de données mondiales de risque avec plus de 500 000 profils de risque
• Outils de modélisation des catastrophes
• Algorithmes de prédiction actuarielle

Base de données de relations clients solides

Statistiques du portefeuille des clients:

Segment client	Nombre de clients
Fortune 500 Companies	3,200
Entreprises de marché intermédiaire	12,500
Sociétés mondiales	1,800

Capital intellectuel et expertise de l'industrie

Investissement de recherche et développement: 425 millions de dollars en 2023

• 18 centres de recherche mondiaux
• 325 professionnels de la recherche spécialisés
• Publication annuelle de plus de 50 rapports d'industrie de l'industrie

AON PLC (AON) - Modèle d'entreprise: propositions de valeur

Solutions complètes de gestion des risques

AON PLC fournit des solutions de gestion des risques à l'échelle de l'entreprise avec 12,4 milliards de dollars de revenus totaux en 2022. La société propose des stratégies de transfert de risques couvrant plusieurs segments de l'industrie.

Service de gestion des risques	Valeur de couverture annuelle
Solutions de risque d'entreprise	4,6 milliards de dollars
Gestion des risques spécialisés	3,2 milliards de dollars
Conseil mondial des risques	2,8 milliards de dollars

Stratégies d'assurance et de réassurance personnalisées

AON fournit des solutions d'assurance sur mesure dans 120 pays avec des modèles de couverture spécialisés.

• Volume de placement de réassurance: 85,3 milliards de dollars
• Réduction moyenne des risques du client: 37%
• Cadres d'assurance spécifiques à l'industrie

Informations axées sur les données pour la prise de décision stratégique

En utilisant des analyses avancées et une modélisation prédictive, AON traite plus de 2,5 pétaoctets de données de risque par an.

Capacité d'analyse	Métrique de performance
Modèles de risque prédictifs	Taux de précision de 98,4%
Prédiction des risques du client	92% de précision

Réseau mondial et intelligence du marché

AON opère dans 120 pays avec 50 000 employés, offrant une intelligence complète des risques mondiaux.

• Base de clientèle internationale: plus de 50 000 organisations
• Couverture de gestion des risques transfrontalières
• Évaluations des risques du marché mondial en temps réel

Approches d'atténuation des risques rentables

Mise en œuvre des stratégies de réduction des risques axées sur la technologie qui optimisent les dépenses des clients.

Stratégie d'optimisation des coûts	Économies moyennes des clients
Gestion des risques comparée à la technologie	Réduction des coûts de 22%
Plates-formes d'assurance intégrées	18% d'efficacité opérationnelle

AON PLC (AON) - Modèle d'entreprise: relations avec les clients

Modèle de partenariat stratégique à long terme

AON dessert 120 pays avec plus de 50 000 clients dans le monde. Les partenariats stratégiques comprennent 95% des entreprises du Fortune 500. La durée moyenne des relations avec le client dépasse 12 ans.

Catégorie client	Taux de rétention	Impact annuel sur les revenus
Grandes entreprises	92.5%	4,2 milliards de dollars
Clients du marché intermédiaire	87.3%	1,8 milliard de dollars

Équipes de service à la clientèle dédiées

AON maintient 3 200 gestionnaires de relations clients spécialisés. Le rapport client / manager moyen est de 15: 1.

• Spécialistes de la gestion des risques dédiés
• Professionnels du conseil spécifiques à l'industrie
• Équipes de gestion des comptes mondiaux

Plates-formes de libre-service numériques

L'utilisation de la plate-forme numérique a augmenté de 67% en 2023. Les responsables du portail en ligne 42% des interactions du client.

Métriques de plate-forme numérique	2023 données
Utilisateurs numériques actifs	85,000
Transactions numériques annuelles	1,2 million

Évaluation et conseil des risques continus

Effectue 24 000 évaluations complètes des risques chaque année. Cycle d'évaluation des risques moyen: 6 mois.

Approche de conseil personnalisée

Solutions personnalisées pour 98% des engagements des clients. Valeur du projet de conseil moyen: 750 000 $.

Segment de conseil	Revenus annuels	Taux de satisfaction du client
Gestion des risques	3,6 milliards de dollars	94%
Avis d'assurance	2,1 milliards de dollars	91%

AON PLC (AON) - Modèle d'entreprise: canaux

Force de vente directe

En 2024, AON emploie environ 50 000 professionnels mondiaux des ventes dans plusieurs régions. La force de vente directe génère environ 12,4 milliards de dollars de revenus annuels grâce aux interactions directes des clients.

Région de vente	Nombre de représentants commerciaux	Contribution annuelle des revenus
Amérique du Nord	22,500	5,6 milliards de dollars
Europe	14,000	3,9 milliards de dollars
Asie-Pacifique	8,500	2,1 milliards de dollars
Reste du monde	5,000	800 millions de dollars

Plates-formes numériques et portails en ligne

Les plateformes numériques d'Aon servent plus de 120 000 clients d'entreprise via des solutions en ligne intégrées. Les canaux numériques génèrent environ 2,7 milliards de dollars de revenus annuels.

• Plateforme de gestion des risques en ligne
• Marché de l'assurance numérique
• Portails en libre-service client
• Interfaces d'application mobile

Réseaux de courtiers

AON collabore avec 5 200 partenaires de courtier indépendant dans le monde, représentant un canal de distribution supplémentaire qui contribue à 3,5 milliards de dollars de revenus annuels.

Catégorie de réseau de courtiers	Nombre de partenaires	Contribution des revenus
Grands courtiers en entreprise	850	1,8 milliard de dollars
Brokers de marché intermédiaire	2,750	1,2 milliard de dollars
Courtiers spécialisés	1,600	500 millions de dollars

Conférences et événements professionnels

AON héberge et participe à 320 conférences mondiales de l'industrie par an, générant environ 450 millions de dollars d'opportunités commerciales directes et indirectes.

Contenu du marketing et du leadership éclairé ciblé

AON produit plus de 1 200 publications de recherche et du matériel de leadership éclairé chaque année, atteignant 500 000 décideurs d'entreprise dans 120 pays.

Type de contenu	Volume annuel	Portée estimée
Rapports de recherche	450	250 000 cadres
Libères Blancs	350	150 000 professionnels
Insignes de l'industrie	400	100 000 chefs d'entreprise

AON PLC (AON) - Modèle d'entreprise: segments de clientèle

Grandes sociétés multinationales

AON dessert 70% des entreprises du Fortune 500 dans le monde. Revenus annuels de ce segment: 4,2 milliards de dollars en 2023.

Secteur de l'industrie	Nombre de clients	Valeur du contrat annuel moyen
Technologie	412	1,8 million de dollars
Fabrication	356	2,3 millions de dollars
Énergie	287	3,1 millions de dollars

Entreprises de taille moyenne

Le segment d'entreprise de taille moyenne représente 25% de la clientèle totale d'AON. Revenu annuel: 1,6 milliard de dollars en 2023.

• Taille moyenne du client: 500-2 500 employés
• Valeur du contrat annuel typique: 350 000 $ - 750 000 $
• Industries primaires: services professionnels, vente au détail, logistique

Institutions de services financiers

Le segment des services financiers génère 2,1 milliards de dollars de revenus annuels. La clientèle comprend 45% des institutions bancaires mondiales.

Secteur financier	Nombre de clients	Services de gestion des risques
Banques commerciales	214	Évaluation complète des risques
Banques d'investissement	87	Solutions d'assurance complexes
Compagnies d'assurance	132	Stratégies de réassurance

Organisations de soins de santé

Revenu du segment des soins de santé: 1,3 milliard de dollars en 2023. Dessert 60% des principaux réseaux hospitaliers en Amérique du Nord.

• Types de clients: hôpitaux, groupes médicaux, systèmes de soins de santé
• Services primaires: avantages sociaux des employés, gestion des risques
• Valeur du contrat moyen: 450 000 $ à 1,2 million de dollars

Entités du gouvernement et du secteur public

Le segment du secteur public génère 750 millions de dollars de revenus annuels. Dessert 35 pays à plusieurs niveaux gouvernementaux.

Niveau du gouvernement	Nombre de clients	Focus du service primaire
Fédéral	42	Gestion des risques complexe
État / provincial	128	Programmes de prestations des employés
Municipal	256	Services de conseil en assurance

AON PLC (AON) - Modèle d'entreprise: Structure des coûts

Compensation de talents professionnels

Pour l'exercice 2022, AON a déclaré des frais totaux de rémunération et de prestations de 5,898 milliards de dollars, ce qui représente une partie importante de leurs coûts opérationnels.

Catégorie de compensation	Montant (2022)
Total des frais d'indemnisation	5,898 milliards de dollars
Salaire moyen (personnel professionnel)	$135,000
Rémunération des dirigeants	24,3 millions de dollars (Greg Case, PDG)

Investissements infrastructures technologiques

AON a investi 667 millions de dollars dans les frais de technologie et de développement en 2022.

• Infrastructure de cloud computing: 189 millions de dollars
• Systèmes de cybersécurité: 112 millions de dollars
• Plateformes d'analyse de données: 215 millions de dollars
• Licence et maintenance logicielles: 151 millions de dollars

Frais de recherche et de développement

Les dépenses de R&D pour AON en 2022 ont totalisé 312 millions de dollars.

Zone de focus R&D	Investissement
Solutions d'analyse des risques	142 millions de dollars
Transformation numérique	87 millions de dollars
IA et apprentissage automatique	83 millions de dollars

Marketing et développement commercial

Les dépenses de marketing et de développement commercial pour 2022 étaient de 413 millions de dollars.

• Marketing numérique: 156 millions de dollars
• Conférences et événements de vente: 87 millions de dollars
• Programmes d'engagement des clients: 104 millions de dollars
• Développement de la marque: 66 millions de dollars

Frais généraux opérationnels mondiaux

Les frais généraux totaux pour AON en 2022 s'élevaient à 1,287 milliard de dollars.

Catégorie aérienne	Montant
Installations et biens immobiliers	387 millions de dollars
Voyage et transport	214 millions de dollars
Frais administratifs	356 millions de dollars
Juridique et conformité	330 millions de dollars

AON PLC (AON) - Modèle d'entreprise: Strots de revenus

Commissions de courtage d'assurance

En 2022, AON a généré 12,2 milliards de dollars de revenus totaux des services de courtage d'assurance. Les commissions représentaient environ 65% de ce total, ce qui équivaut à environ 7,93 milliards de dollars.

Catégorie de revenus	2022 Montant	Pourcentage du total des revenus
Commissions de courtage d'assurance	7,93 milliards de dollars	65%

Frais de conseil à risque

Les frais de consultation sur les risques ont contribué 3,1 milliards de dollars à la source de revenus d'AON en 2022, ce qui représente environ 25% du total des revenus de l'entreprise.

Services d'abonnement aux données et analytiques

Les services d'abonnement aux données et à l'analyse d'AON ont généré 860 millions de dollars de revenus pour 2022, représentant 7% des revenus totaux.

Type de service d'abonnement	2022 Revenus
Abonnements à l'analyse des risques	450 millions de dollars
Abonnements à l'analyse des talents	410 millions de dollars

Solutions de gestion des talents

Les solutions de gestion des talents ont produit 620 millions de dollars de revenus pour 2022, ce qui représente 5% du total des revenus de l'entreprise.

Revenus consultatifs basés sur les transactions

Les services consultatifs basés sur les transactions ont généré 470 millions de dollars de revenus pour 2022.

Type de service consultatif	2022 Revenus
Advisory des fusions et acquisitions	270 millions de dollars
Conseil des risques de transaction	200 millions de dollars

Répartition totale des revenus pour 2022:

• Commissions de courtage d'assurance: 7,93 milliards de dollars
• Frais de consultation des risques: 3,1 milliards de dollars
• Abonnements de données et analytiques: 860 millions de dollars
• Solutions de gestion des talents: 620 millions de dollars
• Conseil basé sur les transactions: 470 millions de dollars

Aon plc (AON) - Canvas Business Model: Value Propositions

You're looking at the core offerings that make Aon plc indispensable to its clients right now. It's about translating complex global uncertainty into manageable business decisions.

Integrated solutions at the intersection of Risk Capital and Human Capital.

Aon structures its value around these two core pillars, which you can see reflected in the revenue performance through the third quarter of 2025. The combined strength allows for holistic risk and people management.

Metric	Q3 2025 Amount	Year-over-Year Growth (Q3 2025)
Total Revenue	$4.0 billion	7%
Risk Capital Revenue	$2.5 billion	7%
Human Capital Revenue	$1.5 billion	8%

For context on the full year 2024, Total Revenue was $15,698 million, with Risk Capital at $10,517 million and Human Capital at $5,209 million before certain intercompany eliminations.

Actionable analytic insights to quantify and manage volatility.

The firm emphasizes using data to move beyond simple placement. This is evident in the organic growth across solution lines, such as Health Solutions showing 6% organic revenue growth in Q3 2025. Aon's strength is in its advanced analytics tools and consultancy services that help manage volatility.

Clarity and confidence for clients to make 'better decisions.'

This value proposition is supported by the firm's financial stability and commitment to shareholders. Aon announced a 10% increase to its quarterly dividend in Q1 2025, marking the 15th consecutive year of dividend growth. Management is on track to reach its leverage objective of 2.8-3.0x Debt/EBITDA by Q4 2025.

Access to diverse and alternative risk capital, including captives.

Clients are actively looking beyond traditional insurance. Favorable market conditions in mid-2025 offered opportunities for clients to leverage a combination of captives, parametric triggers, structured, and facultative solutions alongside standard risk transfer.

Tailored advisory services for complex risks like cyber and climate change.

The focus on complex, data-driven solutions is critical for emerging threats. Aon's 2025 Cyber Risk Report revealed specific financial impacts:

• Cyber events causing reputation risks resulted in an average shareholder value decline of 27 percent.
• Malware and Ransomware attacks were responsible for 60 percent of all reputation risk events identified.
• These reputation risk events made up only 45 percent of total cyber incidents analyzed.

Aon operates in over 120 countries, providing locally relevant solutions enabled by data and analytics.

Finance: draft 13-week cash view by Friday.

Aon plc (AON) - Canvas Business Model: Customer Relationships

You're looking at how Aon plc structures its connection with clients to drive that mid-single-digit or greater Organic revenue growth they targeted for 2025. Honestly, it's all about embedding themselves deeply into the client's decision-making process.

Dedicated, high-touch Aon Client Leadership Model for all segments

Aon plc is executing on its commitment to deliver to all client segments through the Aon Client Leadership model, a key pillar of the 3x3 Plan initiated in 2024. This isn't just a slogan; it's a structural directive. For instance, the firm appointed Anne Corona as CEO of enterprise clients and global chief commercial officer in March 2025, a move supporting the next-generation Aon Client Leadership strategy aimed at integrated solutions. You see the focus on the largest clients already; in 2024, their globally connected approach covered nearly 1,000 of their most critically important global clients. Plus, new business for that Enterprise Client Group was up five points above the Aon average in 2024.

Long-term, advisory relationships focused on enterprise-wide resilience

The relationships are designed to be long-term and advisory, moving beyond transactional policy placement to address enterprise-wide resilience, especially given the four interconnected megatrends-Trade, Technology, Weather, and Workforce-driving complexity in 2025. This advisory focus is central to their Risk Capital and Human Capital capabilities. The firm's Q1 2025 Total revenue hit $4.7 billion, reflecting robust demand for these solutions. The goal is to help clients make better decisions on these linked risk and people issues.

Digital self-service and analytical tools for client-led insights

To power these advisory relationships, Aon is deploying AI and advanced analytics to turn data into real-time, actionable insights. They named Magnus Roe as global chief data and analytics officer in March 2025 to advance these capabilities, helping clients make data-informed decisions. Cyber risk remains the top global concern in 2025, and risk managers are actively using advanced analytics to align coverage with their risk tolerance. This digital push is a core part of the 3x3 Plan.

Managed services for ongoing administration of health and wealth programs

For the Human Capital side, especially health and wealth administration, the scale of client engagement is significant, often involving managing cost pressures. Here's a snapshot of the data points Aon is dealing with in their client service delivery for 2025:

Metric/Survey Group	Data Point	Year/Period
U.S. Health Systems Survey Respondents	155 health systems	2025
Employees Represented in Health Survey	More than 3.6 million employees	2025
Health Systems Citing Cost Management as Primary Concern	93%	2025
Median PEPY Health Spend (Before Plan Changes)	$15,860	2025
Global Benefits Trends Study Participants	Over 500 HR professionals	2025

Also, in benefits governance, leading multinationals are three times more likely to have their global benefits strategy reviewed and endorsed by senior management. If onboarding takes 14+ days, churn risk rises, so efficiency in administration matters.

Leveraging Aon Business Services for standardized, efficient service delivery

The entire client service structure is accelerated by Aon Business Services (ABS), which is designed to create additional capacity for client-facing colleagues and deliver services faster and more effectively. The goal of the 3x3 Plan is to use the global ABS platform to ensure consistently excellent service. This platform supports the firm's overall financial execution; for example, Aon reported Q2 2025 sales of US$4.16 billion, with net income attributable to shareholders at $579 million for the quarter, showing operational scale supports client delivery. You can see the commitment to efficiency; in 2024, the firm realized savings from Accelerating Aon United restructuring actions, partially offsetting compensation increases.

• The firm operates in over 120 countries.
• The Aon United strategy aims for connectivity across solution lines.
• The CEO noted that accelerating ABS helps redefine how capabilities are delivered.

Aon plc (AON) - Canvas Business Model: Channels

You're looking at how Aon plc gets its value propositions-the risk capital and human capital expertise-into the hands of its clients. It's a multi-pronged approach that blends physical presence with sophisticated digital tools. This isn't just about selling insurance; it's about delivering integrated advice across a massive global footprint.

The foundation of Aon plc's channel strategy is its sheer scale. As of early 2025, the firm provides clients with locally relevant solutions in over 120 countries. This physical network of local offices and client-facing colleagues is crucial for understanding regional regulatory nuances and specific client needs, which is vital when you consider their Full Year 2024 Total Revenue hit $15,698 million.

To handle the volume generated by this global reach and to drive efficiency, Aon plc relies on specialized support structures.

• Centralized Client Service Hubs manage back and middle-office support functions.
• These hubs help maintain the 6% Organic revenue growth Aon plc delivered in Full Year 2024.
• They ensure standardized service delivery across disparate geographies.

The push toward digital channels is significant, especially in the complex cyber risk space. The CyQu e-submission platform is a prime example of how Aon plc streamlines the insurance intake process directly with the client.

CyQu Channel Metric	Data Point (as of late 2024/early 2025 reporting)
Clients Benchmarked in CyQu Database	Over 10,000
Total Client Users of CyQu	20,000
Clients Included in 2025 Cyber Risk Report Data	3,226 Aon clients (reported in 2024)
Insurers Aligned via CyQu Submission Process (U.S. & EMEA)	Over 65

This platform isn't just for data collection; it's a direct advisory channel. It uses analytics to offer peer comparisons and security control benchmarks, helping clients enhance their control posture annually. It definitely helps move the needle on risk management decisions.

For the re/insurer segment, the advisory channel is more consultative, using proprietary tools to guide strategy. The Profitable Growth Tool, for instance, is a direct advisory service built on Aon plc's analysis of over 100 global re/insurers.

Profitable Growth Tool Benchmarking Detail	Specification
Basis of Analysis	Over 100 global re/insurers
Self-Assessment Rating Scale	One to five
Key Performance Categories Assessed	Seven essential performance categories

This tool allows insurers to self-assess and then meet with Aon plc experts to define actionable steps. It's a high-touch advisory channel that supports the firm's broader strategy, which is expected to generate enough Free Cash Flow in 2025 to support $1 billion in share repurchases.

Finally, the most direct channel remains the engagement with client leadership teams. This is where the integrated advice from both Risk Capital and Human Capital expertise is delivered to the C-suite to shape major decisions.

• Direct engagement focuses on aligning risk and people strategies.
• This is where the value of integrated data and analytics is conveyed to drive action.
• It supports the firm's goal of delivering mid-single-digit or greater Organic revenue growth in 2025.

Finance: draft 13-week cash view by Friday.

Aon plc (AON) - Canvas Business Model: Customer Segments

You're looking at Aon plc's client base as of late 2025, which is clearly segmented to address varying levels of complexity and scale across the global economy. The firm's reported total revenue for the nine months ended September 30, 2025, was $12,881 million, reflecting a 7% organic revenue growth in the third quarter alone.

Aon plc structures its client service around major solution lines, which directly map to these customer groups. For the twelve months ending June 30, 2025, the revenue breakdown by these major service lines was:

Service Line	Revenue (TTM ending June 30, 2025)
Commercial Risk Solutions	$8.22 billion
Health Solutions	$3.74 billion
Reinsurance Solutions	$2.73 billion
Wealth and Retirement Solutions	$2.08 billion
Data and Analytic Services	$1.21 billion

This structure shows Commercial Risk Solutions as the largest revenue generator.

Large global corporations (Enterprise clients) with complex risk profiles.

This group represents Aon plc's most sophisticated clients, where the globally connected approach is key. In 2024, the firm's Enterprise Client Group covered nearly 1,000 of its most critically important global clients. These clients drive significant activity within the Commercial Risk Solutions and Reinsurance Solutions segments. The company's 2025 guidance reaffirms a commitment to delivering mid-single digit or greater organic revenue growth, which is heavily influenced by retaining and expanding share with these large accounts.

Middle Market clients, a key growth focus following the NFP acquisition.

The acquisition of NFP was explicitly designed to expand Aon plc's presence in this large and fast-growing segment. The NFP platform specifically targets businesses with revenues generally between $50 million to $2 billion. The total consideration for the NFP acquisition was estimated at $13.4 billion at the time of close, funded by $7 billion in cash and $6.4 billion in Aon stock. For Aon plc, the transaction is expected to be dilutive to adjusted Earnings Per Share (EPS) in 2025, with positive impacts to free cash flow estimated to begin in 2026. Aon expects $2.8 billion in value creation from synergies, including $350 million in annual savings by 2026.

Reinsurance companies (ceding companies) requiring capital and treaty solutions.

These clients are served primarily through the Reinsurance Solutions segment, which generated $2.73 billion in revenue for the twelve months ending June 30, 2025. In the fourth quarter of 2024, Reinsurance organic revenue reached 6%, supported by strong treaty placements and increased insurance-linked securities, such as catastrophe bonds.

Financial Institutions, Healthcare, Technology, and Energy sectors.

These industry verticals are served across the solution lines. The Health Solutions segment generated $3.74 billion in revenue for the twelve months ending June 30, 2025. Growth in Commercial Risk Solutions, which brought in $8.22 billion, is driven by client demand across these complex sectors, especially as they navigate transitions related to Technology and Weather megatrends.

Aon plc's overall market valuation reflects investor confidence in this strategy, with a price-to-earnings ratio of 27.2x as of November 20, 2025, which is higher than the industry average of 13x.

Governments and public sector entities.

While specific revenue data for this group isn't broken out, these entities are served through the broader Commercial Risk and Human Capital solution sets, requiring the same integrated advice on risk and human capital management that Aon plc offers its other large clients. The company operates in over 120 countries, providing a global footprint to serve these public sector needs.

Finance: draft 13-week cash view by Friday.

Aon plc (AON) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive Aon plc's operations as of late 2025. Honestly, for a firm this size, the cost structure is dominated by people and technology, which makes sense given the service-based nature of the business.

Predominantly variable cost driven by Compensation and benefits (Q3 YTD: $6.868 billion)

Compensation and benefits is Aon plc's largest cost component, which is typical for a professional services firm. This cost scales with revenue generation, making it largely variable. For the nine months year-to-date (YTD) ending September 30, 2025, this expense reached $6.868 billion. Compare that to the $6.163 billion recorded for the same period in 2024, showing a clear increase driven by 7% organic revenue growth and foreign exchange impacts, though partially offset by restructuring savings. The expense for the third quarter (Q3) alone in 2025 was $2.259 billion.

Here's a quick look at the personnel cost trend:

Metric	Q3 2025 Amount (Millions USD)	Q3 YTD 2025 Amount (Billions USD)	Q3 2024 YTD Amount (Billions USD)
Compensation and benefits expense	2,259	6.868	6.163

Significant investment in Information technology and proprietary platforms

Aon plc continues to invest heavily in its technology backbone to support its Aon United strategy and Aon Business Services (ABS). Information technology expense for Q3 2025 was $140 million, with the YTD figure reaching $412 million. While this is an increase from the $397 million recorded YTD in 2024, the Q3 2025 figure actually showed a slight decrease of $1 million compared to Q3 2024, suggesting some efficiency gains are starting to materialize in that specific quarter.

Integration and restructuring costs related to the Accelerating Aon United program

Costs associated with the Accelerating Aon United program, which focuses on standardizing operations and integrating platforms, are winding down but still present. For Q3 2025, the expense for this program was $32 million. This represents a significant year-over-year reduction, decreasing by $37 million, or 54%, compared to Q3 2024's $69 million. The initial plan projected total cash charges of approximately $900 million over three years, with expected savings of $250 million targeted for 2025. You should also note the integration costs related to the NFP acquisition were lower in Q3 2025 compared to the prior year.

General and administrative expenses for global real estate and operations

General and administrative costs, often captured in Selling, General & Administrative (SG&A) expenses, are being actively managed. SG&A expenses for the twelve months ending September 30, 2025, totaled $1.653 billion, marking a 5.7% decline year-over-year from 2024's $1.641 billion. This reduction is partly due to real estate optimization efforts. Premises expense, a component of these operational costs, decreased by 3% in Q3 2025 compared to the prior year period, directly reflecting savings from the Aon United restructuring actions.

Key operational cost movements include:

• Amortization and impairment of intangible assets rose to $193 million in Q3 2025.
• Other general expense was $425 million in Q3 2025, a slight decrease of $4 million year-over-year.
• Depreciation of fixed assets remained flat in Q3 2025 compared to the prior year.

Interest expense on debt, partially offset by interest income

Financing costs reflect Aon plc's debt structure. For Q3 2025, the reported Interest income was - (zero or negligible) on the Consolidated Statements of Income. However, looking at earlier periods, Interest expense in Q2 2025 was ($418) million, which was a decrease from the prior year, reflecting lower total debt. For Q1 2025, the Interest expense was ($206) million. Interest income for the six months ended June 30, 2025, was $5 million.

Finance: draft 13-week cash view by Friday.

Aon plc (AON) - Canvas Business Model: Revenue Streams

You're looking at how Aon plc brings in money, which is heavily reliant on fees and commissions from its core professional services across risk and human capital.

Total revenue for the first nine months of 2025 was reported at $12.881 billion. This reflects a 12% total revenue increase compared to the first nine months of 2024, which was $11.551 billion.

Organic revenue growth remains a key driver for Aon plc, with the company reaffirming its expectation to deliver mid-single-digit or greater growth for the full year 2025.

The revenue streams are primarily generated through the following activities:

• Commission and fee income from Commercial Risk Solutions: This is a major component of the Risk Capital segment.
• Reinsurance brokerage fees and commissions from Reinsurance Solutions: This segment showed specific growth metrics, with 8% organic revenue growth reported for the third quarter of 2025.
• Consulting and advisory fees from Human Capital (Health and Wealth Solutions): This area saw significant top-line expansion.

Here's a look at some of the segment revenue figures we have for the first half of 2025, which gives you a sense of the scale of these streams:

Segment/Metric	Period Ending March 31, 2025 (Q1)	Period Ending June 30, 2025 (Q2)
Risk Capital Revenue	$3.2 billion	$2.9 billion
Human Capital Revenue	$1.5 billion	$1.3 billion
Risk Capital YoY Revenue Increase	7% (or $216 million)	8%
Human Capital YoY Revenue Increase	40% (or $442 million)	15%

The Human Capital segment, which includes Health Solutions and Wealth Solutions, showed a substantial 40% year-over-year revenue increase in the first quarter of 2025, reaching $1.5 billion for that quarter.

To be defintely clear, the growth in the first nine months of 2025 was supported by strong execution against the 3x3 Plan, which is designed to scale data analytics and drive sustainable top-line growth across these core areas.