BB&T Insurance Services, the insurance arm of BB&T Corp., announced Wednesday that it will buy Reese Insurance Associates Inc. in Riverdale, Ga., to expand its Atlanta-area operations.
Reese offers both commercial and personal property and casualty coverage as well as group benefits insurance.
BB&T Insurance Services, which is based in Raleigh, N.C., has had offices in Atlanta since 1999. "There was one geographic void in our coverage of that marketplace," Wade Reece, the BB&T unit's president, said in a statement, "and Reese fills it perfectly."
The deal is expected to close next month. Its price was not disclosed. The agency's 25 employees are to join BB&T Insurance Services and relocate to Fayetteville, Ga., in August.
BB&T Insurance Services has 82 agencies in both Carolinas, Virginia, Georgia, Maryland, West Virginia, Tennessee, Florida, Kentucky, and Alabama.
