Trustmark sells insurance subsidiary Fisher Brown Bottrell to Marsh & McLennan for $345M cash

TRUSTMARK CORP

Sale price $345M cash; 5.9x 2023 revenue and 28.0x net income.
Estimated after-tax proceeds of $228M to reposition balance sheet and boost earnings.
CEO Duane Dewey's employment agreement extended through Dec 31, 2027.
Transaction expected to close by end of Q2 2024, subject to regulatory approval.

item 2.02 item 5.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TRUSTMARK CORP reported financial results for the period ended March 31, 2024.

Period: the period ended March 31, 2024
Result: reported results

Exact text from the filing

On April 23, 2024, Trustmark Corporation issued a press release announcing its financial results for the period ended March 31, 2024.

View on SEC.gov

499 earnings releases filed in the last 30 days. Browse all earnings releases →

TRUSTMARK CORP filing history →

Source: SEC EDGAR

accession 0000950170-24-047019

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