AIG and Aon are in talks to buy the insurer that is the subject of an ongoing antitrust investigation in the United States, according to people familiar with the matter.
CrlInsurance, which has been under investigation by U.S. regulators for alleged market manipulation, is expected to announce Tuesday that it will purchase Aon for $15 billion, people familiar at the talks told ESPN.
Crls insurance division will continue to operate under the name Aon Insurance Group, and the Aon team is expected continue to be in business as Aon, the people said.
The talks are a result of the U.K.’s decision to drop the case against Aon in July after the U, U.N. and U.G.A. investigations found that it had manipulated its insurance markets to maximize profits, people with knowledge of the matter told ESPN on Monday.
The U.s. investigation into Aon concluded in September 2016, and a U.n. panel of judges concluded in December 2016 that the UG. was guilty of antitrust violations.
CrllInsurance was one of the first U. s insurers to take a public position in support of Aon after it was sold in 2014.
In May 2018, the insurer signed a memorandum of understanding with Aon to provide Aon with up to $150 million of additional insurance revenue, according an Aon spokesperson.
Crlis insurance, the parent company of AON, has been the subject in recent months of intense scrutiny in the U of A, as investigations into its insurance business have been taking place since late 2016.
A few weeks ago, U ofA President Michael Youngs office sent a letter to CrllInsurer’s board and CEO Robert Kowalczyk, saying that Crls insurance has a “significant stake” in the company and that the company is “aware of the ongoing antitrust and consumer protection issues surrounding Aon.”
In December, Aon announced that it would begin negotiations with Crls, which is expected “to take its business to new heights and expand the AON brand in a number of ways,” the company said.
CrlicInsurance declined to comment for this story.
CrliInsurance did not immediately respond to a request for comment.