Truist Financial Corp. nears a deal to sell majority stake in Truist Insurance Holdings to Stone Point Capital and Clayton Dubilier & Rice for around $15bn.

Truist Financial Corp. is near a deal to sell a majority stake in its insurance brokerage business, Truist Insurance Holdings, to an investor group led by Stone Point Capital and Clayton Dubilier & Rice. The deal, which could be announced as soon as this week, may value the asset at around $15bn. Last year, Truist agreed to sell 20% of the insurance business to a group led by Stone Point.