On August 30, 2026, Aon plc, Aon North America, Inc. and Cortlandt Acquisition Corp. entered into an Agreement and Plan of Merger (the “Merger Agreement”) with USI Advantage Corp., a Delaware corporation (“USI”), and Uno Aggregator II L.P., as securityholder representative, pursuant to which Aon will acquire USI (the “USI Acquisition”) for an aggregate estimated purchase price of approximately $17 billion in cash. USI is a leading middle-market provider of property and casualty, employee benefit, personal risk, and retirement solutions, with more than 10,500 colleagues. The Company expects to fund the acquisition with new debt, a portion of which was raised in advance of the closing date, and the remainder is expected to be raised at close of the USI Acquisition. Refer to Note 9 “Debt” for additional information.

Total acquisitions completed by the Company for the three and nine months ended September 30, 2026 and 2025 were as follows. Acquisitions that impact multiple segments are categorized by the segment primarily impacted. Individually significant acquisitions are further described.

On March 16, 2026, the Company completed the acquisition of 100% of the share capital of ShoreOne Insurance Managers, Inc., a coastal-focused homeowners and flood insurance broker based in the U.S in the Risk Capital segment.

On January 1, 2025, the Company completed the acquisition of 100% of the partnership interests and share capital of Griffiths & Armour, an insurance broker in the U.K. in the Risk Capital segment.

The following table includes the preliminary fair values of consideration transferred, assets acquired, and liabilities assumed as a result of the Company’s acquisitions completed in 2026 (in millions):


	Nine Months Ended September 30, 2026
Consideration transferred:
Cash	$	381
Deferred and contingent consideration	56
Aggregate consideration transferred	$	437
Assets acquired:


Goodwill	215
Intangible assets	281
Other assets (1)	82

Total assets acquired	578
Liabilities assumed:


Total liabilities assumed	141
Net assets acquired	$	437

The results of operations of these acquisitions are included in the Condensed Consolidated Financial Statements as of the respective acquisition dates. The Company’s results of operations would not have been materially different if these acquisitions had been reported from the beginning of the period in which they were acquired.

There were no dispositions completed by the Company for the three and nine months ended September 30, 2026. Total dispositions completed by the Company for the three and nine months ended September 30, 2025 are set forth in the table below. Dispositions that impact multiple segments are categorized by the segment primarily impacted.

For the three months ended September 30, 2026, there were no gains recognized related to dispositions. For the nine months ended September 30, 2026, the pretax gains recognized related to dispositions were $20 million, which related to the disposition of the NFP Wealth business, as defined below, completed in the prior year. There were insignificant pretax gains recognized related to dispositions for the three and nine months ended September 30, 2025. Gains recognized as a result of a disposition are included in Other income (expense) in the Condensed Consolidated Statements of Income. See Note 6 “Other Financial Data” for more information.

On October 30, 2025, Aon completed the sale of a significant majority of NFP’s Wealth businesses within our Human Capital segment (the “NFP Wealth business”). Total proceeds received on closing was $2.3 billion, and a pre-tax gain of $1.2 billion was recognized within Other income (expense) on the Consolidated Statement of Income for the year ended December 31, 2025. The major classes of assets sold included Intangible assets, net of $760 million and Goodwill of $398 million. During the nine months ended September 30, 2026, Aon recognized a $20 million gain related to the prior-year sale of the NFP Wealth business, all of which was recognized in the first quarter of 2026.