RALEIGH, N.C. — BB&T Insurance Services announced Wednesday that it would expand its employee benefits operation by buying Benefit Consultants of Virginia Inc. in Richmond for an undisclosed price.
The deal is expected to close next month. Benefits Consultants would continue to operate at its current location.
“In Richmond, we haven’t had a significant employee benefits operation, but this changes that dramatically, allowing us to round out our product offering for our clients,” Wade Reece, the president of BB&T Insurance, said in a press release.
BB&T Insurance already owns property and casualty agencies in Richmond. Of the 70 insurance agencies that the BB&T Corp. unit operates, 19 are in Virginia.
