BB&T Insurance Services said it has acquired J. Rolfe Davis Insurance of Maitland, Fla., with plans to expand its metro Orlando, Fla., operation. Terms of the deal were not disclosed.
The Raleigh, N.C.-based insurance broker, and subsidiary of Winston-Salem, N.C., bank Branch, Banking and Trust Company said J. Rolfe Davis, founded in 1942, is a property-casualty and employee benefits specialist providing a full range of risk management services for businesses and families throughout the country. The deal is expected to be completed by the end of the month.
With more than 130 employees, J. Rolfe Davis is made up of five divisions: commercial p-c, employee benefits, personal lines, financial services and retirement plans.
BB&T acquired Burkey Risk Services of Maitland and Boynton Beach, Fla., in March. The firm also operates Florida agencies BB&T-Iler Wall & Shonter of St. Petersburg, BB&T-Wyman, Green & Blalock of Bradenton, and BB&T-Landrum Yaeger of Tallahassee.
David McKinney, chief executive officer of J. Rolfe Davis and partners Don Boone and Bruce Arrow will continue in their leadership positions with BB&T-J. Rolfe Davis, BB&T Insurance Services said.
J. Rolfe Davis was the honorable mention recipient of National Underwriter's 2007 Agency of the Year Award. It reported commercial premium volume of $142 million in 2006.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.