Aon plc [AON] - / USI Advantage Corp. merger
Aon plc has entered into a definitive merger agreement to acquire USI Advantage Corp. for a total purchase price of $17 billion in cash, subject to adjustments for leakage since June 30, 2026.
Why this matters
Aon plc, a global leader in insurance brokerage and risk management services, has entered into a definitive merger agreement to acquire USI Advantage Corp. for $17 billion in cash. USI, known for its property casualty, employee benefit, personal risk, and retirement solutions, is the tenth largest U.S. insurance broker, generating approximately $3 billion in annual revenue with over 10,500 employees across nearly 200 offices. This acquisition aims to establish Aon as the premier platform in the U.S. middle-market segment, enhancing its footprint and expanding access to the Excess Surplus segment. The transaction builds on Aon's previous acquisition of NFP in 2024 and aligns with its Aon United strategy to accelerate organic growth and deepen its context advantage.