The acquisition of wholesale-broker Crump and the firming insurance market lifted fourth-quarter income for BB&T Insurance Services by 43 percent, the Winston-Salem, N.C.-bank BB&T says.
BB&T Corp. says fourth-quarter insurance income earnings were up $108 million to $362 million. For the year, insurance earnings rose 30 percent, or $315 million, to $1.36 billion.
The company says fourth-quarter net income for the segment stood at $39 million, an increase of 56 percent, or $14 million, from the same in 2011. The company did not give a year end breakdown of the segment's profit.
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