Onex explores $4 bln sale of USI Insurance Services: Reuters
Canadian private equity firm Onex Corp is exploring a sale of USI Insurance Services, hoping that a deal will value the U.S. insurance brokerage at as much as US$4 billion, including debt, sources told Reuters. A sale of USI would underscore the wave of consolidation sweeping the commercial property and casualty insurance market, which has not grown quickly enough to support the smaller brokerages, and has attracted buyout firms keen to cut costs. Onex is working with Bank of America Corp on an auction for USI, the sources said.
12 January 2017•2 mins read
