Aon Nears $17 Billion Acquisition of USI Insurance Services

Aon is close to acquiring USI Insurance Services from private-equity owner KKR in a deal valued at about $17 billion including debt, a move that would significantly expand Aon’s footprint in the mid-market commercial insurance brokerage space. USI, which generates about $3 billion in annual revenue, was acquired by KKR and CDPQ in 2017 for $4.3 billion. The proposed deal values USI at roughly 5.7 times its projected revenue and would mark a major step in Aon’s ongoing consolidation efforts. If completed, the announcement could come as soon as Monday, with financing and regulatory approvals still to be finalized. Analysts and investors appear positive about the deal’s potential to boost Aon’s earnings and growth trajectory. The transaction follows Aon’s broader strategy to strengthen its commercial risk and reinsurance brokerage capabilities amid a fragmented industry.