Aon Corp., the world's largest insurance broker, said Tuesday it has completed the sale of Auto Insurance Specialists LLC to auto insurer Mercury General Corp.
Aon (nyse: AOC - news - people ) received $120 million in cash for all the issued and outstanding equity interests of AIS Management LLC, which is Auto Insurance Specialists' parent company. Aon may also receive up to $34.7 million over the next two years if certain performance benchmarks are met.
The transaction, which was announced in October, closed on Friday.
Aon shares fell 24 cents to $43.87 in afternoon trading. Mercury General (nyse: MCY - news - people ) shares gained 43 cents to $45.25.
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