NU Online News Service, May 13, 2004, 1:15 p.m. EDT – BB&T Insurance Services, Raleigh, N.C., is expanding in Kentucky.[@@]
BB&T Insurance has agreed to acquire Employee Benefit Services of Kentucky, Lexington, Ky.
The price was not immediately available, but BB&T Insurance says it hopes to complete the deal in June.
BB&T Insurance already operates 76 other agencies in the southeast, including BB&T-Old Colony Insurance Services, Louisville, Ky., and BB&T-Cromwell Insurance, Lexington, Ky.
Ron Luft and Jim Dingus, the owners of Employee Benefit Services, formed it by merging 2 smaller benefits agencies in 1998. The agency now has 17 employees.
Luft and Dingus will become managers at BB&T Insurance once BB&T Insurance completes the acquisition, BB&T Insurance says.
Dingus is a past president of the Central Kentucky Association of Health Underwriters.
BB&T Insurance is a unit of BB&T Corp., Winston-Salem, N.C., a large regional bank holding company.