AON WILL BUY MIDDLE-MARKET INSURANCE BROKER NFP IN $13.4 BILLION DEAL

Management consulting firm Aon (AON.N) said on Wednesday it will buy privately held NFP in a deal valued at about $13.4 billion to tap the fast-growing middle-market segment of insurance brokerage, wealth management and retirement plan advisory.

Demand for insurance products has remained firm in an uncertain economy and the sector is considered recession-proof as many policies are often guaranteed by employers, while some are mandated by the government.

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