Aon P.L.C. reported third-quarter 2017 revenue of $2.34 billion, a 6.3% increase over the same period last year, with strong growth in its reinsurance and benefits-related business but slower growth in its commercial brokerage operation.

Commercial risk solutions, which includes its commercial retail brokerage business, reported revenue of $917 million in the third quarter of 2017, a 3.7% increase over the same period last year. But organic revenue, which excludes the effect of currency fluctuations, mergers, acquisitions, dispositions and fiduciary investment income, fell 1%, driven by a “modest decline across the Americas, particularly in U.S. retail and Latin America,” Aon’s earnings statement said.

In a conference call with analysts, Greg Case, president and CEO of Aon, said the third quarter “is our smallest quarter over the course of the year” and the 2017 quarter compared with strong organic growth of 4% in the prior-year period. In addition, year-to-date the commercial risk solutions sector has seen 1% organic growth. “We see Q3 as a little bit of an anomaly in the context of all that,” he said.

Aon reported reinsurance revenue of $355 million for the third quarter, a 7.9% increase over the same period last year, and organic growth of 7%. The brokerage saw growth across all major reinsurance areas, including treaty placements, capital markets transactions and facultative placements, Mr. Case said. “We saw particular strength in treaty placements driven by record new business generation, including several new clients to Aon, and a modest benefit from reinstatement premiums following the recent (catastrophe) events,” he said.

Aon’s profit for the quarter fell 42% to $185 million, which was affected by restructuring costs following Aon’s sale of its sale of its benefits outsourcing business to Blackstone Group L.P. earlier this year. The restructuring included a workforce reduction program, which resulted in $52 million in charges for the quarter and $257 million year-to-date. The workforce reduction program is 85% complete, according to Aon’s investor presentation.

For the first nine months of the year, Aon’s total revenue increased 4.9% to $7.09 billion and its profit increased 31.9% to $1.25 billion.