© Reuters. TFC +0.44% Add to/Remove from Watchlist Add to Watchlist Add Position Position added successfully to:
+ Add another position Close
(Reuters) - Truist Financial (NYSE:TFC) Corp is in talks to sell its insurance brokerage unit to private equity firm Stone Point for about $10 billion, news website Semafor reported on Monday.
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.
Truist in talks to sell insurance business for $10 billion - Semafor
Related pages
US House speaker nominee Scalise drops out of race, deepening crisis
© Reuters. House Majority Leader Steve Scalise (R-LA) speaks to reporters after he won a majority of
Next set to buy rival brand Fat Face in latest High Street buy
Image source, Getty ImagesBy Tom EspinerBusiness reporterHigh Street giant Next is understood to be
Two US House Republicans make their bid for the speaker's gavel
© Reuters. The U.S. Capitol is seen at night as Republicans work towards electing a new Speaker of t
Analysis-Inside Asia's arms race: China near 'breakthroughs' with nuclear-armed submarines, report says
© Reuters. FILE PHOTO: Chinese Navy's nuclear-powered submarine Long March 11 takes part in a naval
Embattled Metro Bank secures capital, Colombian billionaire Gilinski to take control
2/2© Reuters. FILE PHOTO: Jaime Gilinski, GNB Sudameris bank's board chair, speaks during a news c
Israel pounds Gaza after deadly Hamas raid as conflict threatens to spiral
5/5© Reuters. Rockets are fired from Gaza toward Israel, in Gaza, October 7, 2023. REUTERS/Mohamme
