Aon to Acquire USI for $17 Billion to Expand U.S. Middle-Market Presence

Key Facts

1Aon announced a definitive agreement to acquire USI from KKR and other shareholders for a total purchase price of $17.0 billion.

2The transaction is expected to deliver $395 million in annual synergies and be accretive to adjusted EPS in 2028.

3Following the close, USI CEO Mike Sicard will serve as President of Aon plc and global CEO of Middle Market.

In a move reflecting the accelerating consolidation within the financial services sector, Aon plc has announced a definitive agreement to acquire USI from KKR and other shareholders for $17.0 billion. This acquisition is designed to create a dominant platform in the U.S. middle-market and Excess & Surplus (E&S) insurance segments. The transaction is expected to deliver $395 million in annual cost and revenue synergies and is projected to be accretive to adjusted EPS by 2028.

The deal builds on Aon's strategic expansion following its previous acquisition of NFP, leveraging integrated data platforms to capture high-growth market segments. Following the close of the transaction, USI CEO Mike Sicard will transition to the role of President of Aon plc and global CEO of Middle Market. Per market data, the $17 billion purchase price represents a significant capital deployment aimed at long-term scale within the global brokerage landscape.

Monitoring the equity's performance, AON shares stood at $349.56 (close August 27, 2026), having traded within a daily range of $348.03 to $352.88. Investors are looking toward the company's conference call on August 31 for further clarity on integration timelines. With no major upcoming economic catalysts directly impacting the insurance sector in the immediate calendar, market attention remains on the stock's technical support near the $348 level.