Aon reported they’ve completed the sale of Auto Insurance Specialists to Mercury General Corp.

Chicago-based insurance broker Aon Corp. has completed the sale of AIS Management, LLC, which is the parent company of Auto Insurance Specialists, LLC, to Mercury General Corp.

Aon said it received $120 million in cash at the closing on Jan. 2, and may receive potential earn out of up to $34.7 million in additional consideration payable over the two year period following the transaction closing date.

You can read the full article in the Insurance Journal here.