Truist Financial Corp.’s massive sale of its remaining insurance business stands out as a response to impending heightened capital requirements and a potential bellwether as surging insurance valuations continue to entice US banks to cash out.
Tag: Truist Financial
Truist to Focus on Banking with $15.5B Insurance Brokerage Business Sale
Truist Financial agreed to sell the remaining stake in its insurance brokerage business to an investor group on Tuesday, in a deal valued at $15.5 billion, as it looks to strengthen its core banking business to cope with potentially tougher capital rules.
Report: Truist in Talks to Sell Insurance Business for $10B
Truist Financial is in talks to sell its insurance brokerage unit to private equity firm Stone Point for about $10 billion, news website Semafor reported on Monday, citing people familiar with the matter.
Truist to Sell 20% Stake in $14.75B Insurance Unit to Stone Point
Truist Financial Corp is selling a 20% minority stake in its insurance brokerage unit to private equity firm Stone Point Capital.