The financial services company Aon has announced it will sell a pair of businesses for $1.4 billion to the PE firm Aquiline Capital Partners and tech firm Alight. The subsidiaries being sold off are a retirement business and a retiree health exchange business.
The transaction will take place in order to satisfy the demands of U.S. regulators who are pushing for the sale before allowing Aon’s mega-merger with Willis Towers Watson to take place. The announcement also comes just months after the firm said it would sell over $3.5 billion in assets to Arthur J. Gallagher in order to satisfy European Authorities.
While the delays have been long and the regulatory hurdles have been high, this merger will be the largest to ever take place in the insurance industry. The companies will have a combined market cap of over $80 billion post-merger, and it will be the largest insurance broker in the world.