Firming insurance market rates helped BB&T insuranceservices improve its results over the prior quarter and income roseslightly compared to the prior year, the Winston-Salem, N.C. basedbank says.

BB&T reports second-quarter insurance income of $426million, an increase of $61 million from the prior quarter and $33million over the same period last year.

BB&T attributed the results to firming market conditions andan experienced-based refund of reinsurance premiums totaling $13million. The bank says it underwrites a limited amount of P&Cbusiness.

The bank says the insurance segment produced net income of $66million, up $36 million from 1Q of this year, but flat whencompared to the 2Q 2012. Increased salary and incentive costsaffected the quarter's earnings.

During a conference call with financial analysts today,executives say the second quarter is typically the strongest forinsurance and they expect income to drop-off in the third quarterby as much as 18 percent.

Chairman and CEO, Kelly S. King, says the insurance segmentcontinues to focus on the business opportunities presented by itsacquisition of Crump in the middle of last year. Crump is awholesale brokerage firm dealing in life and P&C business. Healso notes that the bank “has its plate full on insuranceacquisitions.” Part of BB&T's growth strategy has been theacquisition of insurance agencies and is the largest holder ofagencies among bank holding companies.