Truist

The Truist Insurance Holdings CEO also said that the velocity of acquisitions would now increase.

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.

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.

Inside P&C’s news team runs you through the key highlights of the week.

Stone Point and Clayton Dubilier & Rice are believed to be the two remaining contenders vying for a 20% stake in Truist Insurance.

Organic growth fell 90 basis points from 6.5% in Q3 2022, but both underlying exposure and inflation continued to provide gains.

Inside P&C’s news team runs you through the key highlights of the week.

All claims in the case were dismissed with prejudice, barring the parties from bringing the dispute to another US court.

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.

Inside P&C’s news team runs you through the key highlights of the week.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Sources have suggested bids at the top end were around 16x marketing Ebitda of just over $1bn.