4 hours ago - Business

Aon paying $17 billion for insurance brokerage USI

Dan Primack

Illustration of a person in a suit holding an umbrella made of money — Illustration: Sarah Grillo/Axios

Aon on Monday agreed to acquire insurance brokerage USI from private equity firm KKR for around $17 billion in cash.

Why it matters: This will help Aon, one of the world's largest professional services firms, dive deeper into the U.S. middle market — following its $13 billion purchase of NFP in 2024 from Madison Dearborn and HPS Investment Partners.

It also extends a recent string of exit announcements for KKR, including Atlantic Aviation to Apollo for $10 billion and CoolIT Systems to Ecolab for $4.75 billion.

By the numbers: Valhalla, New York-based USI is the 10th largest U.S. insurance broker, with around $3 billion in annual revenue and over 10,500 employees in nearly 200 offices.

It was acquired by KKR in 2017 for $4.3 billion, but KKR later invested more for additional shares.

Look ahead: The deal is expected to close before year-end.

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Aon paying $17 billion for insurance brokerage USI

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