Truist
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Inside P&C’s news team runs you through the key highlights of the week. -
In a recent report titled “TFC: Primed for activist”, Wells Fargo notes investor discontent and lists pressing issues to be addressed at Truist.
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The firm’s interim CEO Ami Barlev has argued that, with Vesttoo’s weekly expenses being $360,000, freezing assets above $1m would be “catastrophic for the company”.
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The Inside P&C news team runs you through the earnings results for the day.
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John Howard, CEO and chairman of Truist Insurance Holdings, noted that the response to its minority sale to Stone Point had been “very positive”.
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Organic growth fell 90 basis points from 5.6% in Q4 2022 due to carrier capacity constraints and slower growth in wholesale.
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The sale represents an aggregate value of $14.75bn and increases Truist's common equity Tier 1 ratio by approximately 30 basis points.
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Inside P&C’s news team runs you through the key highlights of the week.
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Management of the insurance broking business should seek to seize the opportunities of independence with both hands.
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The Truist Insurance Holdings CEO also said that the velocity of acquisitions would now increase.
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Management was speaking after the announcement that Stone Point finalized a deal with Truist to acquire a 20% stake in its insurance broking business at a valuation of $14.75bn.
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