AON Aon plc. - Ordinary Shares - Class A

Aon CEO Greg Case warned that concentrating billions of dollars’ worth of equipment in clusters of AI data centers is creating insurance challenges that could threaten project financing. High concentration risks make coverage harder to obtain, potentially limiting developers’ access to debt markets. Business interruptions could cost millions of dollars per minute, Case told CNBC. The warning comes as technology companies ramp up AI infrastructure spending, raising questions about whether traditional insurers can adequately cover emerging risks. Aon reported a record data center project pipeline in Q3, helping drive 7% organic revenue growth in its commercial risk business. Adjusted EPS rose 10% to $3.36, while adjusted operating margin expanded 70 basis points to 27%. Aon has established specialized insurance facilities, including $10 billion for data centers and $2.5 billion for energy projects. $AON

$AON Q3 revenue was up just 3% to 4.10 billion dollars, but organic growth was 6%. Divestitures, mostly NFP Wealth and Stroz Friedberg, took 3 points off the reported number. Commercial Risk and Reinsurance both grew 7% organically. Adjusted EPS rose 10% to 3.36 dollars and adjusted operating margin expanded 70 bps to 27.0%. GAAP operating income actually slipped 1% though. Accelerating Aon United expenses jumped to 93 million dollars from 32 million a year ago.

$AON Follow-up: Does Aon's 7% reinsurance growth hold up without a $24M release of revenue held back in earlier periods? 🏢 Aon, the global insurance and reinsurance broker, was worth about $66.92B at $315.475 a share at 10:29 ET on October 28, 2026, and its Q3 2026 organic revenue grew 6% while adjusted EPS rose 10% to $3.36 ⚠️ Reinsurance, $572M or about 14% of Q3's $4,101M revenue, grew 7% organically including $24M of revenue held back in earlier periods, nearer 2-3% without it on last year's $537M 📈 Commercial Risk, Aon's largest line at $2,110M of revenue, also grew 7% organically 📅 Next: USI closing, which Aon expects in the fourth quarter of 2026 Source: SEC 8-K, Oct 28 + 424B5, Sep 15

$AON reported earnings before the open today. EPS beat estimates: $3.36 vs. $3.30 expected, according to Stock Meadow. What do you think?

$AON Q3 '26 Earnings Results & Recap • Reported GAAP EPS of $3.36 up 10.16% YoY • Reported revenue of $4.1B up 2.60% YoY • If currency remains stable at todays rates, Aon expects a de minimis impact on adjusted EPS in Q4 2026 and a favorable impact of approximately $0.42 per share for full-year 2026.

$AON reports earnings tomorrow before the open. I’m bullish heading into the report: AON has beaten EPS estimates in 7 of its last 8 reports, according to Stock Meadow. Analysts expect EPS of $3.30. What are you watching for?