Aon has agreed to acquire insurance broker USI from private equity firm KKR and other shareholders in a transaction valued at $17 billion, a move that establishes the premier platform in the large and growing US middle-market segment. USI, the tenth-largest insurance brokerage in the US, generates roughly $3 billion in yearly turnover and employs over 10,500 personnel across nearly 200 domestic branches. The takeover also gives Aon wider direct reach into the excess and surplus lines arena, which accounts for 26% of US commercial property and casualty premiums. Aon projects the transaction will generate around $395 million in annual run-rate net adjusted EBITDA through synergies, and expects it to become accretive to adjusted earnings per share from 2028. Upon completion, USI's current chairman and CEO Mike Sicard will become president of Aon and global CEO of middle market, reporting directly to Aon CEO Greg Case.
Aon PLCAon acquires USI in $17bn deal, expanding middle-market reach and expected to be accretive from 2028.
KKR & Co. Inc.KKR sells USI to Aon for $17bn, realizing a significant exit.
USI Corp
