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Announced

Completed

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

Financials

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Transaction Value£1,627m
Consideration TypeCash
Capital Owned-
Capital Bid For20%
EV/Sales27.4x
EV/EBITDA17.2x
Share Price Premium-
One Off Charge-

Tags

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insurance brokerage

Majority

United States

Friendly

Private

Single Bidder

Private Equity

Insurance Brokers

Acquisition

Domestic

Completed

Synopsis

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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.

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