---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-136184"
form_type: "8-K"
ticker: "TFC"
cik: "0000092230"
company_name: "TRUIST FINANCIAL CORP"
filed_at: "2024-05-10T23:59:59+00:00"
generated_at: "2026-06-02T04:36:19.926757+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Truist completes sale of insurance unit for $15.5B enterprise value; Howard departs

## Summary
- Closed sale of Truist Insurance Holdings to Stone Point, CD&R, and Mubadala on May 6, 2024.
- Enterprise value of $15.5B; after-tax cash proceeds ~$10.1B.
- John M. Howard left Truist to remain CEO of Truist Insurance.
- Pro forma financials reflecting the divestiture were filed as Exhibit 99.1.
- Amendment to Purchase Agreement executed for recapitalization prior to close.

## SEC filing metadata
- accession: 0001193125-24-136184
- form_type: 8-K
- ticker: TFC
- cik: 0000092230
- company_name: TRUIST FINANCIAL CORP
- filed_at: 2024-05-10T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/92230/000119312524136184/0001193125-24-136184-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/92230/000119312524136184/d820000d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-136184
- JSON: https://secwatch.observer/filing/0001193125-24-136184.json
- Plain text: https://secwatch.observer/filing/0001193125-24-136184.txt

## Key facts
- Executive change
  John M. Howard departed as other_named_officer at TRUIST FINANCIAL CORP.
  - Action: departed
  source text: At the completion of the Transaction, effective May 6, 2024, Mr. John M. Howard departed from the Company to continue serving as Chief Executive Officer of Truist Insurance.
  evidence_url: https://www.sec.gov/Archives/edgar/data/92230/000119312524136184/0001193125-24-136184-index.htm
- M&A Transactions
  TRUIST FINANCIAL CORP completed a disposition involving investor group led by Stone Point Capital LLC, Clayton, Dubilier & Rice, LLC and Mubadala Investment Company for purchase price that implies an enterprise value for Truist Insurance of $15.5 billion and after-tax cash proceeds of approximately $10.1 billion (closed 2024-05-06).
  - Action: disposition
  - Counterparty: investor group led by Stone Point Capital LLC, Clayton, Dubilier & Rice, LLC and Mubadala Investment Company
  - Consideration: purchase price that implies an enterprise value for Truist Insurance of $15.5 billion and after-tax cash proceeds of approximately $10.1 billion
  - Closing: 2024-05-06
  source text: group led by Stone Point Capital LLC, Clayton, Dubilier & Rice, LLC and Mubadala Investment Company for a purchase price that implies an enterprise value for Truist Insurance of $15.5 billion and (ii) receive after-tax cash proceeds of approximately $10.1 billion, reflecting certain adjustments (the “Transaction”). The foregoing description of the Purchase Agreement
  evidence_url: https://www.sec.gov/Archives/edgar/data/92230/000119312524136184/0001193125-24-136184-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.