Aon agrees to buy USI for $17 billion
AON•Aon to acquire USI in $17 billion deal
Aon agreed to buy middle-market insurance broker USI from KKR and other shareholders for $17 billion.
The deal aims to build a larger U.S. middle-market platform, following Aon’s NFP acquisition in 2024.
USI generates about $3 billion of annual revenue, employs more than 10,500 people, and runs nearly 200 U.S. offices.
The transaction targets $395 million of annual run-rate net adjusted EBITDA impact from revenue and cost synergies.
Closing is expected in Q4 2026; USI CEO Mike Sicard is set to become Aon president and global middle-market CEO.
