Truist
-
The Insurance Insider US news team runs you through the earnings results for the day.
-
The oversubscription may signal additional capacity waiting on the sidelines.
-
The announcement confirms earlier reports from this publication.
-
Sources said the deal was roughly three times over-subscribed as cat becomes hot.
-
He will assume the role of office president in mid-2025.
-
Sources said Stone Point and CD&R will each have stakes of around 35%.
-
The firm will have more flexibility around talent compensation and M&A activity.
-
TIH CEO John Howard said the deal positions TIH for continued growth.
-
Work is underway to line up a supporting debt raise that could be ~$7bn.
-
The executives were speaking after Truist reported Q4 organic growth of 7.3%, accelerating from 6.3% in Q3 and 5.6% in Q4 a year earlier.
-
The bank’s representatives have started reaching out to other potential interested parties.
-
He most recently served as the Truist-owned broker’s national director of P&C.
-
The broking firm promoted Rachael Yelverton to director of strategic projects while Jeremy McCaslin was named chief innovation officer.
-
Truist appointed Neil Kessler to lead the wholesale division as CEO, while Bill Goldstein will become CEO of the underwriting unit.
-
The Inside P&C news team runs you through the earnings results for the day.
-
The executive declined to comment on Truist Insurance sale reports but said the firm is constantly assessing all its options.
-
Inside P&C has independently confirmed that the bank is working on a full sale of its insurance operation amid a challenging banking environment.
-
The private equity house already owns 20% of Truist’s insurance business following a deal earlier this year.
-
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.
-
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”.
-
The Inside P&C news team runs you through the earnings results for the day.
-
John Howard, CEO and chairman of Truist Insurance Holdings, noted that the response to its minority sale to Stone Point had been “very positive”.
-
Organic growth fell 90 basis points from 5.6% in Q4 2022 due to carrier capacity constraints and slower growth in wholesale.
Most Recent
-
Valder appointed Arch Insurance International deputy CEO
April 23, 2024 -
Agent/broker M&A drops 18% in Q1 2024: Optis
April 22, 2024 -
United Risk appoints Awbury’s Cahill as CFO
April 22, 2024