DEAL ANNOUNCEMENT

McDermott Will & Schulte Advises Aon in $17 Billion Acquisition of USI Insurance Services

Aug 31, 2026

Read time: 2 min

Global law firm McDermott Will & Schulte acted as legal advisor to Aon plc (Aon), a leading global professional services firm, with respect to regulatory matters in connection with Aon’s signing of a definitive agreement to acquire USI Insurance Services (USI) from KKR and other shareholders for a total purchase price of $17.0 billion.

The transaction establishes the premier platform in the large and growing U.S. middle-market segment, building on the success of Aon’s acquisition of NFP in 2024. USI, a leading provider of property & casualty, employee benefit, personal risk and retirement solutions for the middle market, is the tenth largest U.S. insurance broker, with approximately $3 billion in annual revenue and more than 10,500 team members across nearly 200 U.S. offices.

Closing of the transaction is subject to customary conditions, including regulatory approvals, and is expected to occur in the fourth quarter of 2026.

The McDermott Will & Schulte team was led by Michael Byrne, Andrea Best and Lauren Dalton, and included Gregory Mitchell, Erin Kelly, Allison Bernbach, Bill Barbera, Sarah Raaii, Ian Levin, David Cohen, Michael Roberts, Lisa Kaderabek, Leila Fujiwara, Brynn Connell, Kristopher Kendall, Audrey Bischoff, Nicole Pomerantz, Kyle Hafkey, Tyler Barton, and Elliana Lenz.