Aon Nears $17 Billion Deal to Acquire Insurance Broker USI from KKR
Aon is reportedly in advanced discussions to acquire USI, a prominent insurance brokerage firm, in a deal valued at approximately $17 billion, including debt. The seller is the private-equity firm KKR.
According to The Wall Street Journal, the agreement could be announced as early as Monday. The report cites sources familiar with the matter.
USI, headquartered in Valhalla, New York, is a specialized insurance brokerage and consulting firm focusing on risk management, employee benefits, and retirement consulting. The company generates an estimated $3 billion in annual revenue.
KKR originally acquired USI in 2017 and has since increased its stake, becoming the largest shareholder in 2023. This potential sale of USI marks another significant divestiture for KKR, following recent exits from companies like data-center cooling firm CoolIT and Circor's aerospace business. KKR has reported substantial asset sales, achieving a record $1.29 billion in the quarter ending in June.
For Aon, a global insurance broker and consultancy with a market capitalization of $75 billion, this acquisition is expected to broaden its presence in the midsize business sector and potentially boost its earnings per share starting in 2028.
Aon recently announced strong second-quarter adjusted earnings of $3.81 per share, exceeding analyst expectations. However, its stock has seen a slight decline of 5.6% since then, closing at $355.40 on Friday.
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