The company reported a 5% organic revenue growth, driven by strong retention, net new business generation, and management of the renewal book.

Aon completed the acquisition of NFP for an aggregate preliminary purchase price totaling $9.1 billion, with approximately $3.2 billion to settle NFP indebtedness and cash consideration to the selling shareholders, and approximately 19 million class A ordinary shares with a fair value of approximately $5.9 billion.

Total operating expenses increased due to investments in long-term growth and an increase in expense associated with 5% organic revenue growth.

Accelerating Aon United Program expenses were $119 million for the three months ended March 31, 2024, relating to workforce optimization, asset impairments, and technology and other costs.

The company realized $20M in restructuring savings in the quarter, partially offsetting increased expenses.

Management remains focused on strengthening Aon and uniting the firm with one portfolio of capability enabled by data and analytics and one operating model to deliver additional insight, connectivity, and efficiency.

The company is exposed to foreign exchange risk when it earns revenues, pays expenses, enters into monetary intercompany transfers or other transactions denominated in a currency that differs from its functional currency.

The company faces legal action arising out of a fatal plane crash in November 2016 and is also involved in legal proceedings related to fraudulent letters of credit issued in connection with transactions for which capital was arranged by Vesttoo Ltd.

Ireland, the U.K., and many E.U. member states, among others, have enacted legislation to implement the global minimum tax that are consistent with the OECD's proposed Pillar Two tax regime. There remains significant uncertainty, however, as to how Ireland's Pillar Two tax regime and the OECD's past and potentially future Pillar Two guidance will ultimately apply to the Company.

The company reported that market impact was modestly positive on results in the quarter.

On average globally, exposures and pricing were positive, resulting in modestly positive market impact.

Growth in retail brokerage was highlighted by solid growth in EMEA and Asia and the Pacific, driven by continued strength in core P&C.

Premises expenses, which represent the cost of occupying offices in various locations throughout the world, decreased $4 million, or 5%, in the first quarter of 2024 compared to the prior year period, reflecting a reduction to our real estate footprint.

Information technology expenses decreased $15 million, or 11%, compared to the prior year period due primarily to elevated technology costs and investments in the prior year period.

Amortization and impairment of intangible assets decreased $9 million, or 36% in the first quarter of 2024 compared to the prior year period due primarily to ongoing portfolio management and a decrease associated with assets fully amortized in the prior year period.

Depreciation of fixed assets increased $6 million, or 16%, in the first quarter of 2024 compared to the prior year period due primarily to ongoing investments in Aon Business Services-enabled technology platforms to drive long-term growth.

The Program will include technology-related costs to facilitate streamlining and simplifying operations.

In the third quarter of 2023, we initiated the Program with the purpose of streamlining our technology infrastructure.

The company repurchased 0.8 million shares for $250 million under its authorized share repurchase program.

The company issued $6B of senior notes and entered into a $2B term loan to fund the NFP acquisition.

Capital expenditures amounted to $48 million, primarily related to the refurbishing and modernizing of office facilities, software development costs, and computer equipment purchases.

For many companies, the management of ESG risks and opportunities has become increasingly important, and ESG-related challenges continue to create volatility and uncertainty for our clients.

At Aon, helping clients manage risk - including ESG risk - is at the core of what we do. We offer a wide range of risk assessment, consulting, and advisory solutions, many of which are significant parts of our core business.

We see significant opportunity in enhancing our impact and delivering innovative client solutions on ESG matters.

Foreign exchange rate movements may be significant and may distort true period-to-period comparisons of changes in revenue or pretax income.

Our fiduciary investment income is affected by changes in international and domestic short-term interest rates.

Our ability to access the market as a source of liquidity is dependent on investor demand, market conditions, and other factors.