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Aon

All articles tagged with #aon

business1 month ago•2 min saved

Aon to Acquire USI for $17B, Targeting Premier U.S. Middle-Market Platform

Aon will buy USI Insurance Services from KKR for $17 billion, financed with new debt, with closing expected in Q4 subject to regulatory approvals. CEO Greg Case says the deal creates the premier U.S. middle-market insurance platform, enabling Aon to serve about 200,000 middle-market companies and 48 million employees. USI has over $3 billion in annual revenue and 10,500 employees; post-close, USI CEO Mike Sicard will become Aon’s president and global CEO of middle market. The move follows Aon’s 2024 acquisition of NFP, and shares edged down about 1% in premarket trading.

via CNBC|

#aon #business #insurance

finance2 years ago•29 min saved

Aon's Q4 Profit Falls, Eyes M&A Opportunities

Aon plc reported an 8% increase in total revenue to $3.4 billion for the fourth quarter of 2023, with organic revenue growth of 7%. The company's full year total revenue increased 7% to $13.4 billion, including organic revenue growth of 7%. Despite a 21% decrease in EPS to $2.47 for the quarter, adjusted EPS remained flat at $3.89. Aon also announced a definitive agreement to acquire leading broker NFP. The company repurchased 2.3 million class A ordinary shares for approximately $0.8 billion in the fourth quarter and 8.4 million shares for approximately $2.7 billion in the full year 2023.

via Aon|

#acquisitions #aon #finance

business2 years ago•0 min saved

"Midday Market Movers: FedEx, Coinbase, Aon, General Mills, and More"

FedEx, Coinbase, Aon, and General Mills are among the stocks making significant moves midday.

via CNBC|

#aon #business #coinbase

business2 years ago•2 min saved

Aon's $13.4 Billion Acquisition of Middle-Market Broker NFP

Management consulting firm Aon has announced its plans to acquire privately held insurance broker NFP in a $13.4 billion deal, aiming to tap into the fast-growing middle-market segment of insurance brokerage, wealth management, and retirement plan advisory. The deal, expected to close in mid-2024, will be funded with $7 billion in cash and $6.4 billion in Aon stock. Despite Aon's shares falling 8% due to anticipated one-time transaction and integration costs, the company expects long-term adjusted operating margin expansion. NFP, with over 7,700 employees, is projected to generate $2.2 billion in annual revenue this year and forecast a 14% rise in total revenue by 2025.

via Reuters|

#acquisition #aon #business

business2 years ago•12 min saved

Aon's $13.4 Billion Acquisition of NFP Expands Middle-Market Presence

Aon, a global professional services firm, has announced its acquisition of NFP, a leading middle-market provider of risk, benefits, wealth, and retirement plan advisory solutions. The $13.4 billion deal will expand Aon's presence in the middle-market segment and enhance its distribution capabilities. NFP will operate as an independent platform within Aon, with its CEO, Doug Hammond, continuing to lead the business. The acquisition is expected to drive long-term EPS accretion and contribute to strong combined free cash flow. The transaction is subject to regulatory approvals and is expected to close in mid-2024.

via Aon|

#acquisition #aon #business

business2 years ago•12 min saved

Aon's $13.4 billion acquisition of NFP solidifies its position in the middle-market insurance industry.

Aon, a global professional services firm, has announced its acquisition of NFP, a leading middle-market provider of risk, benefits, wealth, and retirement plan advisory solutions. The $13.4 billion deal will expand Aon's presence in the middle-market segment and enhance its distribution capabilities. NFP will operate as an independent platform within Aon, going to market as "NFP, an Aon company." The acquisition is expected to drive long-term EPS accretion and contribute to strong combined free cash flow. The transaction is subject to regulatory approvals and is expected to close in mid-2024.

via PR Newswire|

#acquisition #aon #business