Truist
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Inside P&C’s news team runs you through the key highlights of the week. -
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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The ~$1bn Ebitda business is seeking a minority private equity buy-in to unlock value for its banking parent, and to create equity incentives for staff.
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Inside P&C’s news team runs you through the key highlights of the week.
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Stone Point and Clayton Dubilier & Rice are believed to be the two remaining contenders vying for a 20% stake in Truist Insurance.
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Organic growth fell 90 basis points from 6.5% in Q3 2022, but both underlying exposure and inflation continued to provide gains.
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Inside P&C’s news team runs you through the key highlights of the week.
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All claims in the case were dismissed with prejudice, barring the parties from bringing the dispute to another US court.
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The bank is running a process to seek a minority stake sale of its broking arm, and is in talks with Stone Point and CD&R.
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