BB&T Picks up Benefits Company

May 1, 2002 ( - A Raleigh, North Carolina insurance broker has expanded its employee benefits service line by agreeing to acquire a benefits consulting shop.

BB&T Insurance Services said its deal to acquire Benefits Consultants of Virginia, based in Richmond, Virginia, is expected to be completed in June. Terms were not disclosed.
Benefit Consultants, which opened in November 1995, has 13 employees.
According to a press release announcing the deal, BB&T Insurance Services, a subsidiary of Branch Banking and Trust Company, is the largest retail insurance broker in the Carolinas and Virginia and tenth largest in the country.