As one of the latest examples of consolidation in the industry, the acquisition is notable in that it aims to preserve the availability of lending resources for both parent companies' customers.

After months of speculation, Truist Financial has agreed to sell 20% of its insurance brokerage subsidiary to the private-equity firm Stone Point Capital for $1.95 billion. The deal was touted as a way to provide capital for expansion and increase earnings over time.

The difficult showing comes even as the company continues to enact a multiyear strategy meant to streamline the business and increase growth.

The private mortgage insurer is purchasing Agents National and Boston National from Incenter, which itself is a unit of Finance of America.

Insurance core systems company going private for $19 per share.

American Equity rejected the all-cash offer twice, first on Dec. 12 and again on Tuesday, according to a statement, confirming a Bloomberg News report.

Ohio-based workers compensation claims administrator has territory and practices that the global TPA values.

M&A activity in the insurance industry has been on the rise in the last two years and is likely to stay strong through 2022 and beyond.

Insurance brokers are seen as attractive targets for private equity thanks to their asset-light business models and the fragmented nature of the industry.

The US insurer is working with Bank of America Corp. on the possible divestments, which could fetch more than 1 billion euros ($1 billion), according to the people, who asked not to be identified because the discussions are private.