Truist Financial Corporation has formally announced the completion of the sale of its remaining shares in Truist Insurance Holdings, a significant subsidiary and the fifth largest insurance brokerage globally. The sale was made to an investor group spearheaded by Stone Point Capital and Clayton, Dubilier & Rice (CD&R), highlighting a strategic move by Truist Financial Corporation to refocus on its core services. This deal marks a notable transition for Truist Insurance Holdings as it transitions from being a subsidiary of a major financial corporation to being under the control of two influential private equity firms. For Stone Point Capital and CD&R, this acquisition is a strategic expansion into the insurance sector, strengthening their respective portfolios by encompassing one of the industry’s leading brokerage firms.

Financial Services, Private Equity, Insurance,United States

https://www.cdr-inc.com/news/press-release/truist-completes-previously-announced-sale-truist-insurance-holdings-investor