Aon Nears $17 Billion Deal to Buy KKR-Backed USI Insurance  

Based in Valhalla, New York, USI provides insurance brokerage and consulting services, including risk management, employee benefits, and retirement solutions. The company generates around $3 billion in annual revenue.

KKR acquired USI from private equity firm Onex in 2017 and gradually increased its stake, becoming USI’s largest shareholder in 2023.

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The potential USI deal would add to KKR’s recent exits, including the sale of data-center cooling company CoolIT and Circor’s commercial and defense aerospace business. KKR reported a record $1.29 billion in asset sales for the quarter ended in June.

A possible USI deal would help Aon expand its business among midsize companies and could boost its earnings per share as early as 2028, according to The Wall Street Journal.

Aon, which has a market value of around $75 billion, reported adjusted earnings of $3.81 per share in the second quarter, beating analysts’ expectations. Its shares have since fallen 5.6%, closing at $355.40 on Friday.

About Aon

Aon helps businesses make better decisions by providing solutions for risk management and human capital. With data driven insights and expertise across more than 120 countries, Aon helps clients manage risks, support their people, and grow their businesses.

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