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

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.