AON CEO seeks to build ‘premiere middle-market platform’ with purchase of rival USI

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Insurance broker Aon announced on Monday it will purchase rival USI Insurance Services from private equity firm KKR.

The $17 billion deal, which will be funded by Aon with new debt, is anticipated to close in the fourth quarter, subject to regulatory approvals.

CEO Greg Case told CNBC’s "Squawk Box" on Monday that the merger will establish the "premiere U.S. middle-market platform."