) is in discussions to sell its insurance brokerage to private equity firm Stone Point for around $10 billion, according to a report from Semafor on Tuesday.
The publication said sources familiar with the matter told them Stone Point bought 20% of the business earlier this year and is now in talks to acquire the rest. In February, Stone Group is said to have taken a 20% stake in the business, with the deal including money from Emirati sovereign fund Mubadala. The deal valued Truist's insurance business at $14.5 billion. However, it is not clear whether the deal for the rest of the business would include other investors.
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