Aon Nears $17 Billion Acquisition of USI Insurance

Aon is nearing an agreement to acquire insurance brokerage USI Insurance from private-equity firm KKR for approximately $17 billion, including debt. The deal, which could be announced as soon as Monday, is designed to expand Aon's capabilities in serving midsize businesses and is expected to increase the company's earnings per share by 2028.

USI Insurance, based in Valhalla, New York, generates roughly $3 billion in annual revenue. For KKR, the sale marks a significant exit during a period when the private-equity industry has struggled to unload assets. KKR originally acquired USI in 2017 from Onex and CDPQ for $4.3 billion and later increased its ownership stake to become the largest shareholder.