Insurance: Takeover by US insurers: Aon takes over USI Insurance
For $17 billion, Aon is acquiring US insurance broker USI, thereby strengthening its business with medium-sized customers. For major shareholder KKR, the deal will result in a billion-dollar profit.
Aon, an Irish insurance and risk management company, is to acquire USI Insurance Services, the tenth-largest US insurance broker, for $17 billion from investor KKR and other shareholders. The deal will expand Aon's business with medium-sized clients. KKR will make a profit of $3.3 billion from the sale, and the transaction is expected to yield an adjusted net profit of around $2 billion for the private equity firm.
USI, which has over 10,500 employees and nearly 200 US offices, offers various insurance products and will be led by its current CEO, Mike Sicard, who will become president of Aon and global CEO of its mid-market business.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
