Administration January 5, 2002
BB&T Picks up Benefits Company
May 1, 2002 (PLANSPONSOR.com) - A Raleigh, North
Carolina insurance broker has expanded its employee benefits
service line by agreeing to acquire a benefits consulting
shop.
Reported by Fred Schneyer
BB&T Insurance Services said its deal to acquire
Benefits Consultants of Virginia, based in Richmond,
Virginia, is expected to be completed in June. Terms were
not disclosed.
Benefit Consultants, which opened in November 1995, has 13
employees.
According to a press release announcing the deal, BB&T
Insurance Services, a subsidiary of Branch Banking and
Trust Company, is the largest retail insurance broker in
the Carolinas and Virginia and tenth largest in the
country.