Shares of Aon PLC (NYS:AON) were indicated up about 0.5% in premarket trading Thursday, after the professional services and insurance company announced deals to sell some retirement assets for $1.4 billion. The company said it has signed agreements to sell its U.S. retirement business to Aquiline and its Aon Retiree Health Exchange business to Alight. The company said the sales are intended to address concerns raised by the U.S. Department of Justice regarding Aon's deal to buy insurance broker Willis Towers Watson PLC . "These agreements further accelerate our momentum to close our proposed combination with Willis Towers Watson," said Aon Chief Executive Greg Case. Aon's stock has rallied 19.7% year to date through Wednesday, while the SPDR S&P Insurance ETF (PSE:KIE) has advanced 18.8% and the S&P 500 (S&P:SPX) has gained 12.0%.
June 3, 2021, 8:40 a.m. EDT