Deals
BB&T to Buy Atlantic Risk to Add Insurance in Baltimore Area
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BB&T Corp., the bank that owns the sixth-largest insurance broker in the U.S., agreed to buy Atlantic Risk Management Corp. to enter the Baltimore-area market.
The transaction for Atlantic, which has 45 employees and handles deals for commercial property-casualty coverage and employee benefits, is expected to be completed in October, Winston-Salem, North Carolina-based BB&T said in a statement today. Terms weren’t disclosed.