Aon in advanced talks to sell Hewitt Associates to Clayton Dubilier & Rice for $4.5 bn

British insurance broker Aon Plc is in advanced talks to sell its employee benefits outsourcing unit Hewitt Associates Inc to private equity firm Clayton Dubilier & Rice for nearly $4.5 billion, Reuters yesterday reported, citing people familiar with the matter.

New York-based CD&R has prevailed over private equity firm Blackstone Group in an auction for Hewitt Associates, the report said.

A sale would allow Aon to focus more on its insurance and risk management businesses, the report added.

Aon had acquired Hewitt Associates in 2010 for $4.9 billion.

Founded in 1940, Hewitt Associates is a provider of human capital and management consulting services, outsourcing, and insurance brokerage services.

The Illinois-based company operates through 500 offices in 120 countries and has outsourcing centers in Texas, Canada, and the UK.

London-based Aon provides risk management, insurance and reinsurance brokerage, investment banking, human resource solutions and outsourcing services.