Aon P.L.C. on Friday reported revenue of $2.88 billion for the third quarter of 2014, an increase of 3.2% over the same period a year earlier.

Net income for the quarter, however, rose 20.7% from that of the prior-year period to $309 million as the brokerage reported continued restructuring savings related to the Aon Hewitt restructuring program.

Aon noted in its earnings statement that such restructuring savings in the third quarter “are estimated at $101 million compared to $88 million in the prior-year quarter. Of the estimated savings in the third quarter, approximately $76 million were related to the HR Solutions segment compared to $69 million in the prior-year quarter, and approximately $25 million were related to the Risk Solutions segment compared to $19 million in the prior-year quarter.”

Third-quarter revenue for Aon’s Risk Solutions brokerage and risk management operation rose 1.1% to $1.84 billion. Revenue from the retail brokerage operation rose 2.8% to $1.46 billion.

“Retail organic revenue increased 2%, reflecting revenue growth in both the Americas and International businesses,” said Aon in its earnings statement. “Americas organic revenue increased 2% reflecting strong growth in Latin America and U.S. affinity, partially offset by an $8 million unfavorable impact from timing of certain revenue in U.S. retail and Canada. International organic revenue increased 2% driven by solid growth across Asia and New Zealand and strong management of the renewal book portfolio in continental Europe, partially offset by a $4 million unfavorable impact from timing of certain revenue.”

Revenue from its reinsurance operations, however, fell 4.6% to $371 million.

Aon’s HR Solutions operation’s third-quarter total revenue increased 7.7% to $1.06 billion compared with the prior-year quarter driven by 7% organic growth in commissions and fees and a 1% favorable impact from foreign currency translation.

“Organic revenue in consulting services increased 14%, driven primarily by strong growth in investment consulting and for project work in retirement consulting, in addition to an anticipated favorable impact from timing of revenue in compensation consulting,” said Aon in its earnings statement. “Organic revenue in Outsourcing increased 3% compared to the prior-year quarter due primarily to growth driven by new client wins and project-related revenue in benefits administration.”

Aon said total revenue for the first nine months of the year increased 1.6% over the prior-year period to $8.75 billion. Net income for the first nine months of the year also increased, rising 23.7% to $758 million.

“Our third-quarter results reflect double-digit earnings growth of 14% in our seasonally weakest quarter, driven by underlying operational performance and effective capital management,” Aon President and CEO Greg Case said in the statement. “We expect to deliver strong operating performance across both Risk and HR Solutions in the fourth quarter, benefiting from investments in client serving capabilities such as our Global Risk Insight Platform and health care exchanges, resulting in a solid year of operational improvement and record free cash flow generation.”