Truist completes $1.95B sale of 20% stake in insurance brokerage to Stone Point Capital

TRUIST FINANCIAL CORP

Sold 20% of Truist Insurance Holdings for $1.95B, implying a $14.75B total enterprise value.
Truist retains 80% ownership; the deal boosts CET1 ratio by ~30 basis points.
Transaction expected to be relatively neutral to earnings per share.
Board: 4 Truist-appointed directors, 1 Stone Point appointee; John Howard remains Chairman & CEO.
Mubadala Investment Company and other co-investors participated in the investment.

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