Aon PLC said its profit for the fourth quarter rose as revenue grew, particularly in its commercial risk solutions business.
The professional-services firm that offers insurance-brokerage services on Friday posted net income of $524 million, compared with $374 million in the prior year. Earnings were $2.27 a share, compared with $1.58 a share in the year-ago period.
Adjusted earnings were $2.62 a share. Analysts polled by FactSet were looking for $2.46 a share.
Revenue rose 2.8% to $2.97 billion. Analysts were looking for $2.84 billion.
Commercial risk solutions revenue rose 3% to $1.38 billion. Reinsurance solutions revenue rose 5% to $197 million, and retirement solutions revenue was about flat at $495 million. Health solutions revenue rose 5% to $613 million and data and analytic services revenue fell 1% to $288 million.
Free cash flow rose 64% to $2.6 billion for the year, Chief Executive Greg Case said.
Write to Dave Sebastian at [email protected]