Winston-Salem, N.C.-based bank BB&T Corp. says its insurance brokerage services net income increased close to 10 percent for the first quarter of this year over the previous year as the markets show continued rate increases.
Winston-Salem, N.C.-based bank BB&T Corp. says its insurance brokerage services net income increased close to 10 percent for the first quarter of this year over the previous year as the markets show continued rate increases.
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.
Winston-Salem, N.C.-based bank BB&T Corp. says fourth-quarter net income in its insurance-brokerage business increased 4 percent over the previous year, primarily on the strength of the combination of acquisitions and P&C sales.
BB&T Corp. says income from its insurance-services segment dropped 4 percent in the third quarter, but the company expects to see improvement in the fourth quarter.
While carriers’ second-quarter results largely declined due to catastrophe losses, three brokerages recently reported growth during the quarter, led by Aon Corp.’s 69 percent increase in net income.
BB&T continues to see growth in its insurance-brokerage business, reporting a 4 percent growth in income for the 2011 second quarter compared to the same period a year before.