Truist reports growth increase in Q2
Truist Financial Corp. said its Truist Insurance Holdings Inc. had achieved 14.8% organic growth in the second quarter, as the parent company reported second-quarter earnings Thursday.
Second-quarter insurance revenue totaled $719 million and new business was up 25% from second-quarter 2020, the presentation said. Segment net income was $156 million.
Truist insurance said that the “P&C rate environment remains stable with some rate moderation across various lines of coverage, however rate environment remains favorable,” with “Higher GDP growth and continued hard market conditions serving as a tailwind.”