Aon is close to buying USI Insurance Services from KKR for about $17 billion.
Why it matters: The deal would be one of the biggest in insurance brokerage and could reshape competition in the sector. It is also a major test of M&A strategy after Aon's blocked bid for Willis Towers Watson.
- CNBC reported Aug. 30, 2026 that Aon is nearing a roughly $17 billion deal, including debt, for USI.
- Reuters, citing the Wall Street Journal, reported the same transaction was close to agreement.
- USI says it was founded in 1994, is headquartered in Valhalla, New York, and has about $3 billion in annual revenue.
- USI says it has more than 10,500 professionals in nearly 200 offices.
Aon is nearing an agreement to buy insurance brokerage USI Insurance Services from KKR for around $17 billion, including debt, according to reporting from CNBC and Reuters, which cited the Wall Street Journal.
USI describes itself as a leader in insurance brokerage and consulting across property and casualty, employee benefits, personal risk services, retirement, program and specialty solutions. The company says it was founded in 1994 and is headquartered in Valhalla, New York, with about $3 billion in revenue and more than 10,500 professionals in nearly 200 offices, according to its investor-relations page.
The transaction would mark a major expansion in Aon's U.S. middle-market presence if completed. It would also come with strategic sensitivity: Aon's prior attempt to acquire Willis Towers Watson in 2020-2021 was blocked by U.S. antitrust scrutiny, making any large brokerage deal closely watched by competitors and regulators. Aon has not publicly announced the deal in the sources reviewed.
The reporting did not include full terms beyond the headline valuation, and no official comment from Aon, KKR or USI was found in the material reviewed.
By the numbers
- $17 billion - Approximate deal value, including debt.
- $3 billion - USI's reported annual revenue.
- 10,500+ - USI professionals across nearly 200 offices.
Yes, but: The deal is still only reported as nearing completion, and the sources reviewed did not include an official announcement or full terms.
What's next: Watch for a formal announcement from Aon, KKR or USI, and for any regulatory reaction if the deal is signed.