Aon shares declined 1.8% in premarket trading on Monday after the risk-management company agreed to acquire USI Insurance Services for approximately $17 billion, including debt.
The transaction, announced the same day, marks Aon’s latest push to expand its advisory and insurance brokerage services for midsize businesses. USI, based in Valhalla, New York, generated roughly $3 billion in annual revenue, according to its website, and provides brokerage and consulting services for corporate benefits and risk management.
Private-equity firm KKR, which has held a majority stake in USI since acquiring it from Onex and CDPQ in 2017 for $4.3 billion, will exit its position through the sale to Aon. KKR had previously increased its ownership through additional investments, becoming the largest shareholder.
Aon said the deal is expected to enhance earnings per share by 2028, though no immediate financial metrics or integration timeline were disclosed. The acquisition follows a period of elevated asset sales by KKR, which reported record quarterly exits totaling $1.29 billion in its most recent reporting period.
The agreement comes after a Wall Street Journal report on Sunday indicated the transaction was imminent. Terms were not finalized at the time of the report.
