Aon agreed to sell its U.S. retirement consulting business to Aquiline Capital Partners and its Aon Retiree Health Exchange business to Alight Solutions for a total of $1.4 billion.
Aon announced in a news release Thursday that these deals are being done to address certain questions raised by the U.S. Department of Justice in connection with Aon's merger with Willis Towers Watson. Aon and Willis Towers Watson continue to work toward obtaining regulatory approval in all relevant jurisdictions.
WTW and Aon announced plans to merge in March 2020. The all-stock $30 billion deal aims to create an $80 billion firm.
"These agreements further accelerate our momentum to close our proposed combination with Willis Towers Watson," said Greg Case, CEO of Aon, in a news release. "These are very capable teams that have demonstrated exceptional dedication to our clients and our firm. I want to recognize their contributions and reinforce that we are confident they will have similar opportunities with Aquiline and Alight."
Aquiline will acquire Aon’s U.S. core retirement consulting, U.S. pension administration and the U.S.-based portion of Aon’s international retirement consulting business. The deal with Aquiline does not include Aon’s non-U.S. actuarial, non-U.S. pension administration or international retirement businesses.
These deals follow Aon announcing in May plans to sell its pension consulting, pension administration and investment consulting businesses in Germany to consultant Lane Clark & Peacock as a means of securing clearance for its merger with WTW from the European Commission.