Aon Plc Stock Price, News & Analysis

Aon's recent report, "Helping Organizations Chart a Course to the New Better," highlights how over 130 organizations across various industries adapted to the challenges posed by the COVID-19 pandemic. Key findings indicate that 89% of companies are enhancing emotional and mental health programs, while 84% have improved communication protocols. The report underscores the collaboration across ten global coalitions focused on resilience and recovery, showcasing best practices in addressing workforce agility and health safety.

Aon plc (NYSE: AON) has launched a digital insurance solution tailored for small and middle market businesses, enabling them to purchase and manage cyber and professional liability insurance online. This service caters to companies with annual revenues up to $100 million across various sectors like retail and technology. By leveraging the technology from CoverWallet, an insurtech startup acquired in January 2020, Aon enhances accessibility to cyber insurance, addressing risks such as data breaches and ransomware. The platform also offers dedicated support for clients.

Aon plc (NYSE: AON) announces that PwC has successfully reviewed its PathWise® platform for IFRS 17 reporting. The review found no significant deviations (over 1%) between PathWise and PwC's IFRS 17 calculation tool, confirming compliance with the latest global standards. Aon aimed for rigorous external validation to ensure PathWise's effectiveness, receiving valuable feedback for refinement. The project utilized sample data sets to evaluate various IFRS 17 accounting options, ensuring comprehensive compliance and operational readiness.

Aon plc (NYSE:AON) has authorized a new $5.0 billion share repurchase program, increasing total buyback authorization to $6.1 billion. This program follows Aon's existing buyback plan, which had approximately $1.1 billion remaining as of September 30, 2020. CEO Greg Case expressed confidence in the firm's growth potential, particularly with the pending combination with Willis Towers Watson. The share repurchase will occur based on market conditions, with no specific obligations.

Aon plc (NYSE: AON) has launched its Quality of Intellectual Property (QoIP) Solution, aimed at helping companies articulate the value of their intellectual property (IP) during M&A and capital market transactions. QoIP was recently utilized by Victory Innovations in their sale to The Carlyle Group. It catalogues IP portfolios, highlights core technologies, and benchmarks them against competitors, addressing the frequent undervaluation of IP assets in transactions. Aon’s new offering is part of its IP Solutions, enhancing valuation practices for companies with significant IP investments.

Aon plc (NYSE: AON) has appointed Byron Spruell, the President of League Operations at the NBA, to its Board of Directors. Spruell's leadership and strategic insight are expected to benefit Aon, particularly during challenging market conditions. With a background at Deloitte and extensive experience in analytics and business growth, he aims to enhance Aon’s innovative approach. The Chair of Aon’s board, Lester B. Knight, expressed confidence in Spruell's ability to provide valuable perspectives as Aon continues to adapt to evolving client needs amidst volatility.

Aon reported flat revenue of $2.4 billion for Q3 2020, with an operating margin increase of 340 basis points to 18.5%. Net income rose 23% to $441 million, translating to $1.18 per share, a 27% year-over-year increase. Free cash flow surged 91% to $1.9 billion. The company announced a 5% increase in its quarterly cash dividend and repurchased 2.4 million shares for approximately $500 million. The combination with Willis Towers Watson is expected to bolster Aon's growth strategy, positioning the firm as a key partner to clients.