Filed Under:, Northeast

BB&T Completes Crump Acquisition

NU Online News Service, April 3, 11:04 a.m. EDT

Winston-Salem, N.C.-based bank BB&T Corp. says it has completed its acquisition of the life and property and casualty insurance-operating divisions of Roseland, N.J.-based Crump Group Inc.

BB&T says the acquisition creates the largest independent wholesale distributor of life insurance and one of the largest providers of wholesale commercial insurance brokerage and specialty programs in the U.S.

BB&T says it paid $570 million in cash to complete the transaction, which is expected to be accretive to earnings and to add approximately $300 million in annual revenue to its BB&T Insurance subsidiary based in Raleigh, N.C.

The acquisition did not include Crump's retirement-services business Ascensus.

Top Story

Top 5 ways to avoid a data breach

The majority of breaches, from malware or hacking, are preventable, Beazley says.

Top Story

10 websites (besides Google) that insurance investigators can use to research claims

Here are 10 sites that can provide a treasure-trove of information at your fingertips.

More Resources

Comments

eNewsletter Sign Up

PropertyCasualty360 Daily eNews

Get P&C insurance news to stay ahead of the competition in one concise format - FREE. Sign Up Now!

Mobile Phone
         
Close

Advertisement. Closing in 15 seconds.