WINSTON-SALEM, N.C. - BB&T Corp. completed its acquisition Monday of the actuarial and insurance consulting firm Hunt, DuPree, Rhine & Associates Inc. of Greenville, S.C.
The price was not disclosed.
The banking company has combined the firm with W.E. Stanley & Co. Inc., the Greensboro actuarial and employee benefits consulting company it bought in 1998. The new operation is named Stanley, Hunt, DuPree & Rhine Inc. and will operate as a subsidiary of Branch Banking and Trust Co. with dual headquarters in Greensboro and Greenville.
The combined company has over 200 employees and offers group medical plans, insurance and investment consulting, actuarial services, benefit communications, and 401(k) and Section 125 flexible benefits programs.
The former president of W.E. Stanley, Phillip Floyd, is now chief executive officer of the combined company while the former president of Hunt DuPree Rhine, Chip Hunt, is now president.
