Wade Reece, BB&T Insurance chairman and chief executive officer, said Crump represents a transformational opportunity for BB&T Insurance. "We've known and respected Crump for years and consider them an industry leader," Reece said. "This is an opportunity for BB&T to become a significant and strategic player in the high-growth, high-margin life insurance distribution business and expand our property and casualty business."
Currently, BB&T's wholesale insurance operations include property and casualty broker CRC Insurance Services, managing general agent Southern Cross TAPCO Underwriters and managing general underwriter AmRisc LLP. Including its retail operations, BB&T Insurance is the sixth largest insurance broker in the U.S.
With 23 offices throughout the country, Crump Life Insurance Services supports the sale of life, long-term care, disability and annuity products, and life settlements. Crump has relationships with more than 100 life insurance companies and supports a network of more than 200,000 producers and institutional clients.
