Acquisitions and Dispositions of Businesses (Tables)

12 Months Ended

Dec. 31, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of Business Combination

Total acquisitions completed by the Company for the year ended December 31, 2025 and 2024 were as follows. Acquisitions that impact multiple segments are categorized by the primarily impacted.

For the Year Ended December 31	2025	2024
Risk Capital	10	10
Human Capital	8	12
Total	18	22

Schedule of Consideration Transferred and Preliminary Value of Intangible Assets

The following table includes the preliminary fair values of consideration transferred, assets acquired, and liabilities assumed as a result of the Company’s total acquisitions (in millions):

	Twelve Months Ended December 31, 2025
Consideration transferred:
Cash (1)	$	915
Deferred and contingent consideration	66
Aggregate consideration transferred	$	981
Assets acquired:
Goodwill	531
Intangible assets	462
Other assets (2)	228
Total assets acquired	1,221
Liabilities assumed:
Total liabilities assumed	240
Net assets acquired	$	981

(1)As of December 31, 2024, includes $416 million of consideration paid into an escrow account related to the acquisition of Griffiths & Armour, which closed on January 1, 2025.

(2)Includes Cash and cash equivalents of $43 million and $74 million in funds held on behalf of clients.

Purchase accounting, including measurement period adjustments, were finalized in the second quarter of 2025. The fair values of consideration transferred, assets acquired, liabilities assumed, and redeemable and nonredeemable noncontrolling interests are shown below (in millions):

	NFP Acquisition
Consideration transferred:
Cash	$	3,247
Class A ordinary shares issued	5,882
Aggregate consideration transferred	$	9,129
Assets acquired:
Goodwill	6,838
Intangible assets	6,775
Other assets (1)	1,362
Total assets acquired	14,975
Liabilities assumed:
Long-term debt	3,422
Deferred tax liabilities (2)	1,013
Other liabilities (3)	1,218
Total liabilities assumed	5,653
Less: Fair value of redeemable noncontrolling interests (4)	(108)
Less: Fair value of nonredeemable noncontrolling interests	(85)
Net assets acquired	$	9,129

(1)Includes Cash and cash equivalents of $294 million and$277 million in funds held on behalf of clients.

(2)As of December 31, 2025, the NFP deferred tax liability related to the U.S. has been netted with the Aon deferred tax asset related to the U.S. and presented as a net deferred tax asset on the Consolidated Statements of Financial Position.

(3)Includes Accounts payable and accrued liabilities of $283 million and $125 million of Non-current operating lease liabilities.

(4)The fair value of the noncontrolling interests acquired was estimated using a DCF model under the income approach and used estimated financial projections developed by management applying market participant assumptions.

Schedule of Pro Forma Information

The unaudited pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the NFP Transaction had taken place on the date indicated or of results that may occur in the future (in millions):

	Year Ended December 31,
	2024		2023
Revenue	$	16,397	$	15,579
Net income attributable to Aon shareholders	2,461		1,958

Schedule of Dispositions

Total dispositions completed by the years ended December 31, 2025 and 2024 were as follows. Dispositions that impact multiple segments are categorized by the segment primarily impacted.

For the Year Ended December 31	2025	2024
Risk Capital	1	3
Human Capital	3	2
Total	4	5