Aon nears $17 billion deal to buy insurance broker USI, WSJ reports

An office building with the Aon logo is seen amid the easing of the coronavirus disease (COVID-19) restrictions in the Central Business District of Sydney, Australia, June 3, 2020.Loren Elliott | ReutersAon is nearing a roughly $17 billion deal, including debt, to acquire insurance brokerage USI from private-equity firm KKR, The Wall Street Journal reported Sunday.A deal could be announced as soon as Monday, the Journal said, citing people familiar with the matter. USI is an insurance brokerage and consulting firm based in Valhalla, N.Y., that specializes in risk management, employee benefits and retirement consulting. The company has about $3 billion in annual revenue, according to its website. KKR bought USI from private-equity firm Onex in 2017 and has since increased its ownership stake, becoming the company's largest shareholder in 2023.A possible deal for USI would follow a string of prominent exits for KKR, including sales of data-center cooling firm CoolIT and Circor's commercial and defense aerospace business earlier this year. KKR reported a record $1.29 billion in asset sales for the quarter that ended in June.A USI deal would help Aon — a large insurance broker and cons...