NU Online News Service, March 8, 2004, 1:13 p.m. EST – BB&T Insurance Services, Raleigh, N.C., has agreed to acquire Iler Wall & Shonter Insurance Inc., St. Petersburg, Fla.[@@]
Iler Wall sells employee benefits, life insurance and financial planning services as well as commercial property-casualty insurance. The agency has 73 employees and generates about $75 million in annual premium revenue.
BB&T Insurance, a unit of BB&T Corp., Winston-Salem, N.C., a large bank holding company, is not disclosing the deal price, but it says it is hiring Iler Wall’s principal owners and top sales reps.