AON

AI Research

Stablecoin Insurance Premium Pilot + Q4 EPS $4.85 Beats → Jefferies PT $408 on Moderate Buy

Aon completed the first known stablecoin insurance premium payments on March 9, 2026, working with Coinbase using USDC on Ethereum and PYUSD on Solana, positioning Aon at the intersection of traditional insurance and digital finance innovation. Q4 2025 EPS of $4.85 beat the $4.75 estimate despite revenue of $4.3 billion missing the $4.38 billion forecast, with full-year organic revenue growth of 6% and adjusted operating margin expanding 90 basis points to 32.4%. The company guided 2026 for mid-single-digit or greater organic revenue growth, 70-80 basis points of margin expansion, and $7 billion in capital deployment, with the stock at $326.75 and Jefferies maintaining a Buy with a $408 target.