Global insurance brokerage and consulting firm Aon has agreed to acquire USI Insurance Services from private-equity firm KKR in a deal valued at approximately $17 billion, including debt, according to The Wall Street Journal.
The companies announced the transaction Monday, a day after the Journal reported that an agreement was imminent.
Based in Valhalla, New York, USI is an insurance brokerage and consulting company that works with businesses and individuals on insurance coverage, employee benefits and other risk-management needs. The company generates approximately $3 billion in annual revenue.
“We see this having a financial impact almost immediately,” Aon CEO Greg Case told the Journal. “We’re taking content that Aon already has and we’re scaling it into the middle market.”
Aon expects the transaction to expand its capabilities in the midsize market and is expected to increase earnings per share by 2028, the company said. The acquisition follows another major middle-market insurance deal by Aon. In 2024, the company acquired insurance brokerage NFP for approximately $13 billion in cash and stock.
