BB&T bank said its insurance operations increased more than 3 percent in the fourth quarter primarily on the results of improved sales of insurance products.
The Winston-Salem, N.C.-based company said insurance revenues increased by $7 million to $221 million compared with $214 million in the fourth quarter of 2006. The results were offset by soft market pricing, BB&T said.
During an analyst's conference call John Allison, BB&T's chief executive officer, said while the company will avoid making banking acquisitions this year, it is seeking to acquire insurance agencies.
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