Aon CEO says insurance broker seeks to build 'premiere middle market platform' with purchase of rival USI

Aon will acquire rival insurance broker USI Insurance Services from KKR in a $17 billion all-debt transaction, the company announced Monday. The deal aims to create what Aon's CEO describes as the "premiere U.S. middle-market platform" in insurance brokerage. Aon plans to finance the entire purchase price through new debt issuance, marking one of the largest leveraged transactions in the insurance brokerage sector. USI, currently owned by private equity firm KKR, serves middle-market clients—a segment Aon is targeting for expansion. The acquisition comes as consolidation continues across the fragmented insurance brokerage industry, where scale and platform capabilities drive competitive advantage in serving corporate clients.