Truist in talks to sell insurance business for $10 billion – Semafor

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In February, Truist sold a 20% stake in its $14.75 billion insurance unit to Stone Point. The move followed a year in which the commercial and investment bank’s profit dropped.

The talks are ongoing, the report said, citing people familiar with the matter. It added that a deal may hinge on Stone Point’s ability to scrounge up enough debt.

Truist, its unit Truist Insurance Holdings and Stone Point did not immediately respond to Reuters’ request for comment.