Aon Signs $17B Deal to Buy USI, Creating Premier U.S. Middle-Market Broker
AON sits 16% above its 52-week low of $304.59.
Summary
Aon has signed a definitive agreement to acquire USI Insurance Services from KKR and other shareholders for $17.0 billion ($16.7 billion net of tax attributes). The deal establishes the leading platform in the $40B+ U.S. middle-market insurance segment, building on Aon's 2024 NFP acquisition. USI brings ~$3B in annual revenue, 10,500 employees, and proprietary USI ONE analytics. Aon expects $395M in annual run-rate net adjusted EBITDA synergies and accretion to adjusted EPS in 2028. Funding will be via new debt; Aon will pause share buybacks to prioritize deleveraging. USI CEO Mike Sicard will become President of Aon and global CEO of Middle Market. Closing is expected in Q4 2026, subject to regulatory approvals.
At the time of this announcement, AON was trading at $353.00 on NYSE in the Finance sector, with a market capitalization of approximately $75.4B. The 52-week trading range was $304.59 to $382.34. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: PR Newswire.