AON Q1 revenue increased to USD 3.14 billion

Global re/insurance broker and retirement solutions company AON announced its Q1 2019 total revenue increased in absolute value by USD 53 million (or 2% y-o-y) to USD 3.14 billion.

Of this total, about USD 1.11 billion were generated by Commercial Risk Solutions, USD 788 million - Reinsurance Solutions, USD 420 million - Retirement Solutions, USD 486 million - Health Solutions, and USD 336 million - other Data and Analytic Services.

Total Q1 2019 operating expenses decreased 1% to USD 2.3 billion y-o-y due primarily "to a USD 93 million favorable impact from foreign currency translation, USD 45 million of incremental savings related to restructuring and other operational improvement initiatives, and a USD 21 million decrease in expenses related to divestitures, net of acquisitions, partially offset by a USD 17 million increase in restructuring charges and an increase in expenses associated with 6% organic revenue growth".

At the same time, AON informed that the restructuring expenses were USD 91 million, primarily driven by other costs associated with restructuring and separation initiatives and workforce reductions.

Q1 restructuring savings related to restructuring and other operational improvement initiatives are estimated at USD 108 million, before any potential reinvestment, an increase of USD 45 million compared to the prior year period

Overall, net income from continuing operations attributable to AON shareholders was USD 659 million, or USD 2.70 per share, compared to USD 588 million, or USD 2.35 per share, in the prior year period.

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