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BB&T To Acquire Ky. Benefits Agency

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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.