Aon is close to acquiring USI Insurance in a deal valued at roughly $17 billion.
The transaction would mark one of the largest moves in the insurance brokerage sector this year.
USI has been owned by private-equity firm KKR since 2017.
The acquisition would expand Aon’s presence in the middle-market insurance segment.
USI specializes in property, casualty, and employee benefits for smaller businesses.
This market has become a key battleground for major brokers seeking growth.
KKR took USI private in a $2.3 billion deal nearly a decade ago.
Since then, the firm has grown through multiple acquisitions and internal expansion.
A sale at $17 billion would deliver a substantial return for KKR’s investors.
Talks are still ongoing and may not result in a final agreement.
Details such as the exact purchase price and funding structure remain under discussion.
Aon has not issued a public statement on the matter.
The deal would follow a period of consolidation across the insurance industry.
Rivals like Marsh McLennan and Willis Towers Watson have also pursued strategic acquisitions.
Aon’s move signals continued appetite for scale in a competitive market.
Regulatory approval could be a key hurdle for the transaction.
Antitrust scrutiny has intensified in recent years for large financial deals.
Aon previously abandoned a $30 billion merger with Willis Towers Watson in 2021.
If completed, the acquisition would strengthen Aon’s client base and digital tools.
USI brings a broad network of regional offices and advisory services.
The combined entity would serve a wider range of commercial clients.
Financial details remain fluid, and no official timeline has been released.
Investors and industry analysts will watch for further announcements in coming weeks.
The deal underscores the growing value of mid-sized insurance platforms.
