Stone Point Capital has agreed to sell a majority stake in Asset Allocation & Management Company to Securian Financial Group. Founded in 1982, AAM serves the investment needs of insurance companies, managing $16.4 billion in assets. It will retain its brand, operate independently within Securian Financial Group and be governed by its own Board of Directors. The deal is expected to close December 31. Stone Point acquired AAM in 2007 through its $2.25 billion Trident Fund IV, with KBW Capital Partners taking a minority interest.