Acquisitions and Dispositions of Businesses

3 Months Ended

Mar. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Acquisitions and Dispositions of Businesses

Completed Acquisitions

The Company completed one acquisition during the three months ended March 31, 2022 and no acquisitions during the three months ended March 31, 2021. The following table includes the preliminary fair values of consideration transferred, assets acquired, and liabilities assumed as a result of the Company’s acquisition (in millions):


	March 31, 2022
Consideration transferred
Cash	$	134
Deferred and contingent consideration	3
Aggregate consideration transferred	$	137
Assets acquired


Goodwill	74
Intangible assets	65
Other assets	6

Total assets acquired	145
Liabilities assumed:


Total liabilities assumed	8
Net assets acquired	$	137

The results of operations of this acquisition are included in the Condensed Consolidated Financial Statements as of the acquisition date. The Company’s results of operations would not have been materially different if this acquisition had been reported from the beginning of the period in which it was acquired.

2022 Acquisitions

On March 1, 2022, the Company completed the acquisition of Tyche, an actuarial software platform based in the U.K.

2021 Acquisitions

On December 22, 2021, the Company completed the acquisition of 100% of the share capital of For Welfare S.r.l, a company focused on bancassurance programs in Italy.

On September 1, 2021, the Company completed the acquisition of the remaining 51% of Aon India Insurance Brokers Limited (formerly known as Anviti Insurance Brokers Private Limited). Prior to the acquisition date, the Company accounted for its 49% interest in Anviti as an equity-method investment. The acquisition-date fair value of the previous equity interest was $15 million and was included in the measurement of consideration transferred. There was no significant impact as a result of remeasuring the carrying value of the Company’s prior equity interest in Anviti held before the business combination.

Completed Dispositions

The Company completed two dispositions during the three months ended March 31, 2022 and no dispositions during the three months ended March 31, 2021.

The pretax gains recognized related to dispositions were $25 million for the three months ended March 31, 2022. There were no pretax gains recognized related to dispositions for the three months ended March 31, 2021. Gains recognized as a result of a disposition are included in Other income in the Condensed Consolidated Statements of Income.