Citable filing context

AON filing events and research context

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AON's research view summarizes recent SEC filing context, starting with debt_offering from Sep 22, 2026.

AON filing events and research context
FiledItemContext
Sep 22, 2026debt_offeringAon entered into a $4B term loan facility and a $3B revolving credit facility on September 18, 2026.
Sep 17, 2026debt_offeringAon subsidiaries priced a $13.5 billion senior notes offering to fund the acquisition of USI Advantage Corp.
Sep 11, 2026acquisitionAon filed historical and pro forma financial statements related to its planned acquisition of USI Advantage Corp.
Aug 31, 2026Guidance: adjusted_epsnot reported to not reported
Aug 31, 2026Guidance: annual_run_rate_net_adjusted_ebitda_synergiesnot reported to not reported
Jul 29, 2026Guidance: adjusted_eps_growthnot reported to not reported
Jul 29, 2026mda_quarterlyAon reported second-quarter 2026 revenue of $4.2 billion, a 2% increase driven by 5% organic revenue growth, partially offset by a 4% decline from divestitures, primarily the NFP Wealth business and Stroz Friedberg. Risk Capital revenue rose 5% to $3.0 billion, supported by strong performance in Commercial Risk Solutions—specifically U.S. core property and casualty and construction—and Reinsurance Solutions. Conversely, Human Capital revenue fell 4% to $1.2 billion, largely due to the NFP Wealth divestiture, despite 5% organic growth in Health Solutions. Operating margin expanded to 21.5% from 20.7%, bolstered by $25 million in net restructuring savings from the "Accelerating Aon United" program. Adjusted operating margin reached 28.9%. While net income decreased 5% to $551 million due to non-recurring prior-year gains, adjusted diluted earnings per share rose to $3.81 from $3.49. The company maintains a robust liquidity position, supported by $986 million in operating cash flow for the first half of 2026 and $7.7 billion remaining under its share repurchase authorization. Management continues to navigate the implementation of the OECD’s Pillar Two global minimum tax, noting ongoing uncertainty regarding its long-term impact on the effective tax rate.
May 1, 2026mda_quarterlyAon reported strong first-quarter 2026 results, with total revenue increasing 6% to $5.03 billion, driven by 5% organic growth from net new business and high retention. Risk Capital revenue rose 10%, led by an 11% increase in Commercial Risk Solutions—bolstered by North American M&A services and U.S. P&C—and 8% growth in Reinsurance Solutions via treaty and facultative placements. Human Capital revenue declined slightly as the 19% drop in Wealth Solutions following the NFP Wealth divestiture offset 9% growth in Health Solutions. Operating margins expanded to 34.1%, supported by $25 million in net restructuring savings from the Accelerating Aon United program, which targets $450 million in annualized savings by 2027. Net income increased 26% to $1.24 billion, with diluted EPS rising to $5.63. Free cash flow grew 332% to $363 million, driven by strong adjusted operating income and lower cash taxes. While divestitures of NFP Wealth and Stroz Friedberg created a 3% revenue headwind, favorable currency translation provided a 4% tailwind. Key risks include global currency volatility and the implementation of OECD Pillar Two tax legislation.

Source: SEC EDGAR filing text and events; period Sep 22, 2026; filed Sep 22, 2026.

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