Stone Point Capital and Mubadala completed the acquisition of a 20% stake in Truist Insurance from Truist for $1.95bn.

Private equity firms Stone Point Capital and Mubadala completed the acquisition of a 20% stake in Truist Insurance, an insurance brokerage firm, from Truist, a financial services firm, for $1.95bn. "This investment is a testament to the quality and success of Truist Insurance and our teammates. We look forward to continuing our longstanding relationship with Stone Point to grow our insurance business and further deepen our partnerships with clients and the communities we serve, while also preserving significant strategic and financial flexibility in the business," Bill Rogers, Truist Chairman and CEO.