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Article: BB&T Insurance Services Inc. Top Brokers Rank 8.(Financial report)
- Article from:
- Business Insurance
- Article date:
- July 20, 2009
- Author:
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Colleen McCarthy
BB&T Insurance Services Inc. relied on acquisitions to fuel revenue gains last year, but it also grew organically despite the declining economy, its top executive said.
The Raleigh, N.C.-based brokerage, a unit of banking parent BB&T Corp., grew brokerage revenues 9.7% to $962.1 million, in part due to large gains in its employee benefits line, following several strategic acquisitions.
BB&T's 2008 brokerage revenues make it the eighth-largest insurance brokerage worldwide and the seventh-largest broker of U.S. business in Business Insurance's 2009 rankings.
"We view 2008 as a great performance in the face of a ...