M&A Deal Summary

Truist Acquires Swett & Crawford Group

On February 24, 2016, Truist acquired insurance company Swett & Crawford Group from Ed Broking for 500M USD

Acquisition Highlights
  • This is Truist’s 3rd transaction in the Insurance sector.
  • This is Truist’s 13th largest (disclosed) transaction.
  • This is Truist’s 45th transaction in the United States.
  • This is Truist’s 9th transaction in Georgia.

M&A Deal Summary
Date 2016-02-24
Target Swett & Crawford Group
Sector Insurance
Buyer(s) Truist
Sellers(s) Ed Broking
Deal Type Divestiture
Deal Value 500M USD

Target

Swett & Crawford Group

Atlanta, Georgia, United States
website
Swett & Crawford Group, Inc. is a wholesale insurance brokerage firm.

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Buyer(S) 1

Buyer

Truist

Charlotte, North Carolina, United States

website

Category Company
Founded 1872
Sector Financial Services
Employees53,207
Revenue 22.7B USD (2020)
DESCRIPTION
BB&T's corporate headquarters in Winston-Salem, North Carolina.
BB&T's corporate headquarters in Winston-Salem, North Carolina.

Truist is a financial services company. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Truist was founded in 1872 and is headquartered in Charlotte, North Carolina.

DEAL STATS #
Overall 45 of 50
Sector (Insurance) 3 of 4
Type (Divestiture) 1 of 3
State (Georgia) 9 of 10
Country (United States) 45 of 50
Year (2016) 1 of 1
Size (of disclosed) 13 of 34
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-17 National Penn Bancshares

Allentown, Pennsylvania, United States

National Penn Bancshares, Inc. is a bank holding company. National Penn has 124 community banking offices provides financial services.

Buy $1.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-06 Regions Insurance

Little Rock, Arkansas, United States

Regions Insurance, Inc. is an insurance brokerage company, provides insurance solutions and risk management services. Regions Insurance was founded in 1928 and is based in Little Rock, Arkansas.

Buy -

Seller(S) 1

SELLER

Ed Broking

London, United Kingdom

website

Category Company
Sector Insurance
Revenue 344M USD (2011)
DESCRIPTION

Ed Broking is an independent, global wholesale insurance and reinsurance broker with offices in the world’s key insurance hubs. It matches risks brought to us by expert retail brokers and those seeking reinsurance coverage with underwriters in these major markets. Ed Broking was founded in and is based in London, England.

DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
State (Georgia) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-23 Newman Martin and Buchan

London, United Kingdom

Newman Martin and Buchan LLP, specialist energy practice for global clients seeking access to all the key international markets.

Buy -
Mergr

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