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Aon CEO says USI deal seeks to build 'premiere middle market' insurance platform
CNBC • • business
Key Points:
- Aon announced it will acquire USI Insurance Services from KKR for $17 billion, with the deal expected to close in the fourth quarter pending regulatory approval.
- The acquisition aims to create a leading U.S. middle-market insurance platform, enhancing services for approximately 200,000 middle-market companies and their 48 million employees.
- USI, the tenth largest U.S. insurance broker with over $3 billion in annual revenue and 10,500 employees, will see its CEO Mike Sicard become Aon’s president and global CEO of middle market post-merger.
- The deal builds on Aon's recent acquisition of NFP, further strengthening its position in the U.S. middle market segment.
- Despite a slight drop in Aon's share price following the announcement, CEO Greg Case highlighted the acquisition as a significant value opportunity for shareholders.
