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Aon
AON · NYSEInsurance brokerage
The economic chain
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Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
Premiums &capitalthe money flowing inBrokers &distributionwho places the coverInsurerswho carries the riskReinsuranceinsuring the insurersClaims,payouts &…where the money goesPolicyholderswho is protectedCOCorporate clientsEEEmployees & membersILSCapital & ILS investorsAONAonNFPNFPAIGAIGCBChubbTRVTravelersLLDLloyd's & specialty insurersMUVMunich ReSRESwiss ReREBermuda & global reinsurersC&AClaims & analyticsPBProtected businessesCECovered employees
Company details
Market cap
$77B
P/E ratio
26×
Div yield
0.8%
EPS (TTM)
$13.6
Profit margin
19%
Rev. growth
+16%
Revenue
$17B
Free cash flow
$3B
In plain English
Aon is one of the world's two giant insurance brokers. It doesn't carry risk itself — it sits in the middle, helping big companies figure out, price and buy protection: placing their insurance with carriers, ceding their biggest tail risks to reinsurers, and advising on pensions, health benefits and retirement. After the US blocked its mega-merger with Willis Towers Watson in 2021, it bought middle-market broker NFP for $13B in 2024 to push down into smaller companies.
In simple terms
What Aon really sells
Aon is one of the world's two giant insurance brokers. It doesn't carry risk itself — it sits in the middle, helping big companies figure out, price and buy protection: placing their insurance with carriers, ceding their biggest tail risks to reinsurers, and advising on pensions, health benefits and retirement. After the US blocked its mega-merger with Willis Towers Watson in 2021, it bought middle-market broker NFP for $13B in 2024 to push down into smaller companies.
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Risk read
Moderate
SteadierMore speculative
Why this rating?