Truist Insurance Holdings Acquires BenefitMall from Carlyle

BenefitMall Acquires Mutual Med

August 30, 2022

Insurance

BenefitMall has acquired Mutual Med, a Davenport, Iowa-based insurance distributor, to expand carrier relationships and voluntary benefits offerings and strengthen BenefitMall's presence across the Midwest. Mutual Med will operate as a division of BenefitMall under its existing leadership and broaden BenefitMall's service territory into several new Midwestern and Southern states.

BenefitMall Acquires Savin Sales Associates

January 12, 2021

Insurance

BenefitMall, a Dallas-based benefits general agency, has acquired Cleveland-based Savin Sales Associates to expand its presence in Ohio. The deal will open a second BenefitMall office in the state and transition Savin leadership into BenefitMall market roles; terms were not disclosed.

Stone Point and CD&R Acquire Truist Insurance Holdings (TIH)

February 20, 2024

Insurance

Private equity firms Stone Point Capital and Clayton, Dubilier & Rice (CD&R), with participation from Mubadala Investment Company and other co-investors, acquired Truist Insurance Holdings (TIH) from Truist Financial Corporation in an all-cash transaction valuing TIH at an implied enterprise value of $15.5 billion. The deal establishes TIH as an independent, standalone insurance brokerage platform headquartered in Charlotte, North Carolina, with management and over 1,500 employee equity participants remaining invested in the business.

Truist Insurance Holdings Acquires Kensington Vanguard National Land Services

March 2, 2022

Financial Services

Truist Insurance Holdings, a subsidiary of Truist Financial Corporation, has closed the acquisition of Kensington Vanguard National Land Services, one of the largest independent national title insurance and settlement agencies. The deal consolidates BridgeTrust Title Group under the Kensington Vanguard (KV) brand and establishes a new Insurance Services Division to expand Truist's title insurance, settlement and premium finance capabilities.

Stone Point and Co-Investors Acquire 20% Stake in Truist Insurance Holdings

April 3, 2023

Financial Services

Funds managed by Stone Point Capital, with co-investors including Mubadala Investment Company and other unnamed investors, acquired a 20% minority stake in Truist Insurance Holdings from Truist Financial Corporation for $1.95 billion, implying an aggregate valuation of $14.75 billion. Truist retains an 80% majority stake; the partnership is intended to provide growth capital and industry expertise to support future growth and consolidation of the insurance business.

Truist Insurance Holdings Acquires Constellation Affiliated Partners from RedBird Capital Partners

May 24, 2021

Insurance

Truist Insurance Holdings, a subsidiary of Truist Financial Corporation, signed a definitive agreement to acquire Constellation Affiliated Partners from RedBird Capital Partners. The acquisition adds approximately $160 million of annual revenue and seven MGAs/program managers to Truist's wholesale division, enhancing its national programs capabilities.