Aon's $17B USI acquisition expands its middle-market reach and specialty capabilities, but adds debt and puts execution under pressure.
AON NYSE: AON said it has entered a definitive agreement to acquire U.S. middle-market insurance broker USI in an all-cash transaction valued at approximately $17 billion, or $16.7 billion net of certain tax attributes. The company expects the deal to close in the fourth quarter of 2026, subject to regulatory approvals and customary closing conditions.
Aon PLC (NYSE:AON) has agreed to acquire insurance brokerage USI from KKR for $17 billion including debt, the companies said Monday, as Aon expands its reach among medium-sized businesses. USI provides risk management, health insurance and retirement plan services for businesses and individuals, and reports about $3 billion in annual revenue.
Aon announced Monday it will purchase rival USI from private equity firm KKR. The deal, which Aon said will be financed through new debt, is expected to close in the fourth quarter, subject to regulatory approvals.
The deal could be announced as early as Monday, the report said.
Aon is nearing a roughly $17 billion acquisition of insurance broker USI from KKR, according to The Wall Street Journal. An agreement could be announced as soon as Monday, the Journal reported.
Private-equity giant KKR has owned USI Insurance since 2017.
Aon (AON) reported earnings 30 days ago. What's next for the stock?
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