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Tag: Truist Financial

Truist’s Insurance Exit a Potential Bellwether as Capital Requirements Tighten

Truist Bank data breach

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.

Published March 6, 2024
Categorized as Show on Homepage Tagged capital, Truist Financial, Truist insurance sale

Truist to Focus on Banking with $15.5B Insurance Brokerage Business Sale

Truist Bank data breach

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.

Published February 20, 2024
Categorized as Show on Homepage Tagged CD&R, insurance brokerage sale, Stone Point, Truist Financial

Report: Truist in Talks to Sell Insurance Business for $10B

Truist Bank data breach

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.

Published October 10, 2023
Categorized as Show on Homepage Tagged insurance M&A, Stone Point, Truist Financial

Truist to Sell 20% Stake in $14.75B Insurance Unit to Stone Point

Chubb buys General Aviation Insurance

Truist Financial Corp is selling a 20% minority stake in its insurance brokerage unit to private equity firm Stone Point Capital.

Published February 16, 2023
Categorized as Show on Homepage Tagged Stone Point Capital, Truist Financial
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