BB&T Agrees to Acquire Carolina Insurance

By Staff Writer

October 04, 2002 at 08:00 PM

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NU Online News Service, Oct. 4, 11:41 a.m. – BB&T Insurance Services, Raleigh, N.C., a unit of BB&T Corp., Winston-Salem, N.C., has agreed to acquire Carolina Insurance Consultants Inc., Greenville, S.C.

Carolina Insurance sells employee benefits and risk-management services to companies in the transportation, construction, manufacturing and golf industries.

Carolina Insurance operates offices in Columbia, Laurens/Clinton, Easley and Belton as well as Greenville.

The price and other terms were not disclosed, but BB&T says it hopes to complete the deal in November.

The transaction is expected to be completed in November. Terms were not disclosed.

BB&T plans to combine Carolina Insurance Consultants with BB&T-Goldsmith Joyner, its existing Greenville-based insurer, to form an agency that will employ 135 people. The combined agency would be called BB&T-CIC, BB&T says.

Tommy Parrish, now a principal at Carolina Insurance, would become the area manager for BB&T-CIC.

Ken Finch, now a manager of BB&T-Goldsmith Joyner, would be the agency manager in charge of sales for the combined agency.

Al Hueble and Glenn Bridges founded Carolina Insurance in 1975, and both men continue to work for the agency. Both would continue to work there after the completion of the BB&T acquisition, BB&T says.

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