By Allison Prang

Aon PLC is selling two of its businesses as it works to get regulatory approval for its deal to merge with Willis Towers Watson.

The insurance broker said it is selling its U.S. retirement business to Aquiline Capital Partners. Aon is also selling its Aon Retire Health Exchange business to Alight. Together, the two deals are for $1.4 billion in total gross consideration, Aon said. It said the deals are to address questions the U.S. Department of Justice raised.

Aon said the U.S. retirement business that it is selling includes about 1,000 employees.

These deals are contingent on Aon and Willis Towers Watson merging, Aon said Thursday. Both companies have previously announced other divestitures.

The two companies merging would make the combined company the biggest insurance broker in the world.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

June 03, 2021 09:19 ET (13:19 GMT)

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