Aon Nears $17 Billion Deal to Buy KKR-Backed USI Insurance

Aon is nearing a deal to buy USI Insurance Services from KKR for about $17 billion, the Wall Street Journal reported. USI, an insurance brokerage backed by the private equity firm, would become one of the largest acquisitions in the insurance brokerage industry if the deal closes. The move would expand Aon's footprint in commercial insurance brokerage at a time when large brokers have been consolidating smaller players to gain scale and pricing leverage with insurers. For KKR, a sale would mark an exit from an investment in the insurance distribution space. Neither Aon nor KKR has confirmed the deal publicly. Terms beyond the reported $17 billion price tag, including financing structure and expected closing timeline, have not been disclosed.