Accelerating Aon United Program

12 Months Ended

Dec. 31, 2025

Restructuring and Related Activities [Abstract]

In the third quarter of 2023, Aon initiated a three-year restructuring program called the Accelerating Aon United Program (the “Program” or the “AAU Program”) with the purpose of streamlining the Company’s technology infrastructure, optimizing its leadership structure and resource alignment, and reducing the real estate footprint to align to its hybrid working strategy. The Program includes technology-related costs to facilitate streamlining and simplifying operations, headcount reduction costs, and costs associated with asset impairments, including real estate consolidation and technology costs. The Program is an investment in our 3x3 Plan that brings the best of the firm through our Aon United strategy, delivered as Risk Capital and Human Capital, and our Aon Client Leadership model, powered by Aon Business Services.

Program charges are recognized within Accelerating Aon United Program expenses on the accompanying Consolidated Statements of Income and consist of the following cost activities:

•Technology and other – includes costs associated with actions taken to rationalize applications and to optimize technology across the Company. These costs may include termination fees and other non-capitalizable costs associated with Program initiatives, which include professional service fees.

•Workforce optimization – includes costs associated with headcount reduction and other separation-related costs.

•Asset impairments – includes non-cash costs associated with impairment of assets, as they are identified, including ROU lease assets, leasehold improvements, and other capitalized assets no longer providing economic benefit.

In the fourth quarter of 2025, the Company increased the expected Program cumulative costs from $1.0 billion to $1.3 billion, consisting of approximately $1.2 billion of cash charges and approximately $0.1 billion of non-cash charges. Over the life of the Program, the Risk Capital segment is expected to incur approximately $300 million of charges, while the Human Capital segment is expected to incur approximately $80 million of charges, with the remaining charges relating to corporate expenses.

Total Program costs incurred for the years ended December 31, 2025 and 2024 are as follows (in millions):


	Years Ended December 31
	2025		2024
Risk Capital	$	82	$	114
Human Capital	16		27
Corporate	267		248
Total	$	365	$	389

The Company expects to continue to review the implementation of elements of the Program throughout the course of the Program and, therefore, there may be changes to expected timing, estimates of expected costs, and related savings.

The Company’s unpaid liabilities for charges under the Program are primarily included in Accounts payable and accrued liabilities and Other non-current liabilities in the Consolidated Statements of Financial Position.

The changes in the Company’s liabilities for the Program as of December 31, 2025 are as follows (in millions):


	Technology and other		Workforce optimization		Asset impairments		Total
Liability balance as of December 31, 2024	$	17	$	97	$	—	$	114
Charges	195		155		15		365
Cash payments	(165)		(132)		—		(297)
Foreign currency translation and other	—		6		—		6
Non-cash charges	(8)		(18)		(15)		(41)
Liability balance as of December 31, 2025	$	39	$	108	$	—	$	147
Total costs incurred from inception to date	$	335	$	455	$	99	$	889