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BB&T Insurance To Buy Savannah Agency

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NU Online News Service, Nov. 11, 11:23 a.m. – BB&T Insurance Services, a unit of BB&T Corp., Winston-Salem, N.C., says it plans to buy Cranman & Company Inc., Savannah, Ga., an insurance agency.

BB&T says it wants to combine Cranman with its existing Savannah agency, the BB&T-Lofton Group, to form BB&T-Lofton & Cranman. The combined agency would sell employee benefits as well as property-casualty insurance.

BB&T hopes to complete the transaction in January 2003. The price and other terms were not disclosed.

BB&T Insurance Services’ Georgia operations also include agencies in Alpharetta, Carrollton, Thomaston, Macon, Dalton and Kennesaw.