ATLANTA Wachovia Corp. said Wednesday that it has agreed to buy Hamilton Dorsey Alston Co., a property-casualty insurance broker based in Atlanta.
No price was given for the deal, which is expected to close in the second quarter.
John C. Hamilton, president and chief executive officer of Hamilton Dorsey Alston, is to be named managing director and continue his current duties. The agency will operate under its own name as a subsidiary of Wachovia Bank.
The purchase would bring Wachovia Insurance Services revenues to nearly $65 million.
The bank also owns DavisBaldwin Inc., a Tampa commercial property-casualty insurance agency it bought in November.
Wachovia Corp. has $74 billion of assets and headquarters in Atlanta and Winston-Salem, N.C.