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Article: Fresh Off 2 Agency Deals, BB&T Insurance Eyes More.(Wealth Management)(acquisations of J. Rolfe Davis Insurance and Tapco Underwriters Inc.)
- Article from:
- American Banker
- Article date:
- January 7, 2009
- Author:
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Byline: Steve Garmhausen
With organic growth expected to stay in the single digits this year,BB&T Corp.is positioned to continue buying independent insurance agencies.
The Winston-Salem, N.C., company closed two agency deals on Dec. 31, giving it 11 suchacquisitions for the year, up from three in 2007.
Last year, it expanded in Florida and in a key segment of its insurance business, the managing general agent business,said Wade Reece, the president of BB&T Insurance Services in Raleigh.
BB&Tcould have more buyout opportunities this year, because difficult economic conditions and a soft market for property and casualty policies have ...
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... ... growth,'' Mr. Reece said. BB&T already has a large ... Orlando, Fla., or added to BB&T's benefits business ... Agency Inc. in Myrtle Beach; J. Rolfe Davis Insurance and Burkey Risk Services ... 2008 acquisitions helped grow BB&T's benefits revenue ...
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