“We are excited for this collaboration with Stone Point, as the investment demonstrates the significant value of Truist Insurance Holdings and strategically positions it, and Truist, for long-term success,” stated Bill Rogers, chairman and CEO of Truist.
Truist Insurance Holdings will proceed to learn from Truist’s operations, entry to capital and shopper relationships, whereas each Truist and Truist Insurance Holdings will profit from Stone Point’s function as a capital accomplice, Truist stated.
“Today’s announcement is a recognition of the success and quality of Truist Insurance Holdings’ brands, the trusted relationships we’ve developed with clients, and above all, the hard work and relentless commitment of our teammates,” stated John Howard, chairman and CEO of Truist Insurance Holdings. “We operate in an attractive, growing and dynamic industry in which scale is critical to remain competitive. With Stone Point’s industry expertise and role as a capital partner, we will be strategically positioned for long-term success and growth as we continue expanding our portfolio and investing in innovative digital solutions.”
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“Truist Insurance Holdings is a scaled, diversified US retail and wholesale insurance distribution platform that has experienced strong growth both organically and through a disciplined acquisition strategy,” stated Chuck Davis, CEO of Stone Point. “We have had a longstanding and mutually beneficial relationship with Truist for many years, and we and our co-investors could not be more excited to partner with them, John and the entire Truist Insurance Holdings team in its next phase of profitable growth.”
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