TRUIST FINANCIAL CORP acquired BenefitMall, a transaction announced in August 2022, structured as Definitive agreement for Truist Insurance Holdings to acquire BenefitMall from Carlyle-managed funds; expected to close in Q3 2022 and be combined into CRC Group..
BenefitMall operates in Insurance, is based in United States. Truist Insurance Holdings, a Truist subsidiary and one of the largest U.S. insurance brokerages, agreed to acquire BenefitMall, the nation's largest benefits wholesale general agency, from funds managed by Carlyle. BenefitMall provides medical, dental, life, vision and long-term care benefits solutions through a network of roughly 20,000 retail brokers, serving more than 140,000 small and medium-sized businesses. The business was to be combined into Truist's CRC Group wholesale distribution arm.
Diversifies Truist Insurance Holdings' client offerings by adding employee-benefits distribution to CRC Group's specialty insurance lines, broadening the products and services available from the wholesale broker to its retail agency partners.
Advisory firms were not disclosed for this transaction.