Aon Is Fast Off the Blocks in 1Q
Aon had a good start to the year, with solid growth and ongoing margin improvement thanks to the company’s restructuring plan. However, nothing in the quarter alters our long-term view. We still see Aon as something of a tollbooth business, capable of modest but relatively stable growth. We will maintain our $154 fair value estimate and narrow moat rating.Aon had a good quarter on the brokerage side, with the commercial risk and reinsurance solutions segments growing 6% and 9% year over year, r...
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