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Illustration: Sarah Grillo/Axios

Aon on Monday agreed to acquire insurance brokerage USI from private equity firm KKR for around $17 billion in cash.

Why it matters: This will help Aon, one of the world's largest professional services firms, dive deeper into the U.S. middle market — following its $13 billion purchase of NFP in 2024 from Madison Dearborn and HPS Investment Partners.