Scale is critical to remain competitive in our rapidly changing industry, and through this partnership, we will benefit from Stone Point's and CD&R's expertise in financial services, proven track records of transformative value creation and the significant capital support from two leading financial sponsors," John Howard, Truist Insurance chairman and CEO, said in a release. Credit: Yingyaipumi/Adobe Stock
Truist Financial Corp. is selling its remaining 80% stake in Truist Insurance Holdings LLC, the fifth largest insurance broker in the U.S., to a private equity-led management group helmed by Clayton, Dubilier & Rice (CD&R) and Stone Point Capital, the selling firm reported.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
