BB&T to acquire Crump Group insurance unitsPosted by RJ and Makay on Feb 06, 2012 |
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BB&T Corp. is acquiring the property/casualty and life insurance units of Crump Group, BB&T announced last Friday. The regional bank will pay $570 million in cash for the units, and will also acquire rights to the Crump name. The acquisition will not include Ascensus, Crump’s retirement services business, which will continue business as usual, Crump officials said.
Wade Reece
Acquisitions of independent insurance agencies and brokers will continue to be strong through 2012, according to a new Reagan Consulting report “M&A Perspectives from the Most Active Acquirers.” The report features several of the industry’s most active acquirers, including Dave Eslick, chairman of Marsh and McLennan; Wade Reece, chairman and CEO of BT&T Insurance Services; and Mike Sicard, Chairman of USI.








