Aon plc (AON) to Sell U S Retirement Business and Retiree Health Exchange Business for $1 4B streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
Aon to Sell U.S. Retirement, Retiree Health Units for $1.4B to Smooth WTW Acquisition June 3, 2021
Global insurance broker Aon has agreed to sell its U.S. retirement business to private investment firm Aquiline and its Retiree Health Exchange individual health insurance business to Illinois-based digital services firm Alight for total gross consideration of $1.4 billion.
Aon said the sales are intended to address certain questions raised by the U.S. Department of Justice with respect to Aon’s proposed $30 billion takeover of rival Willis Towers Watson, creating the world’s largest insurance broker.
Aon and Willis Towers Watson said they continue to work toward completing the proposed merger as soon as possible in the third quarter of 2021.
Aon says its newly revealed plan to sell its U.S. retirement business to Aquiline Partners is in part meant to address antitrust concerns related to its own merger with Willis Towers Watson.