Aon nears ~$17B deal to buy USI

According to a report by the Wall Street Journal, Aon is close to signing a deal with private equity firm KKR to buy insurance brokerage USI Insurance Services for around $17 billion including debt. The report said that the deal could be announced as soon as Monday.

KKR, alongside Canadian pension investor CDPQ, acquired USI in 2017 from private equity firm Onex for $4.3 billion.

In 2024, Aon acquired NFP for ~$13 billion, and in 2021, a $30 billion merger attempt with Willis Towers Watson collapsed following antitrust objections from the U.S. Department of Justice.