Aon acquires USI Insurance Services from KKR for $17 billion

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The all-cash deal, expected to close in the fourth quarter of 2026, would make USI CEO Mike Sicard president of Aon

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Aon $AON agreed to acquire USI Insurance Services from KKR and other shareholders for $17 billion in cash, the company said Monday, extending its push into the U.S. middle-market insurance segment following its $13 billion purchase of NFP in 2024.

USI ranks as the tenth largest U.S. insurance broker, generating approximately $3 billion in annual revenue and employing more than 10,500 people across close to 200 offices nationwide. The Valhalla, New York-based firm offers property and casualty, employee benefits, personal risk, and retirement services to mid-sized businesses.