BB&T Insurance Buying Georgia’s Reese Agency

BB&T Insurance Services said it plans to expand its metro Atlanta operation with the acquisition of Reese Insurance Associates Inc. of Riverdale, Ga.

Reese provides both commercial and personal property and casualty coverage as well as group benefits insurance.

“The greater Atlanta market has been of great importance to BB&T Insurance since we first came to Georgia in 1999,” said Wade Reece, president of BB&T Insurance Services. “There was one geographic void in our coverage of that marketplace and Reese fills it perfectly.”

The transaction is expected to be completed in June. Terms were not disclosed. The company’s 25 employees will remain with BB&T Insurance Services and relocate to nearby Fayetteville in August.

Reese Insurance Associates Inc. was founded in 1974 by Thomas Reese. He remained with the company until 1990 when he turned it over to current principal owners Roy Vreeland, Gary Laggis, Mark Martin and Marilyn Plunkett. The agency has since added Rhonda Crumbley and Michael Parker as owners.

Laggis will be named agency manager while Vreeland, Martin, Plunkett, Crumbley and Parker will continue in their roles as senior leaders and client relationship managers.

BB&T Insurance Services is a wholly owned subsidiary of Branch Banking and Trust Co., which operates 82 insurance agencies in North Carolina, Virginia, Georgia, South Carolina, Maryland, West Virginia, Tennessee, Florida, Kentucky and Alabama.

Source: BB&T Corp.
www.bbt.com

Topics Georgia