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BB&T Insurance To Acquire Southwest Florida Agency

IBR Staff Writer Published 03 November 2009

To expand Florida insurance franchise

BB&T Insurance Services, an insurance broker, has expanded its southwest Florida operation with the purchase of Oswald Trippe and Company of Fort Myers.

The acquisition follows BB&T Corporation's acquisition of Colonial Bank in August, which expanded BB&T's presence in southwest Florida.

Wade Reece, chairman and chief executive officer of BB&T Insurance Services, said: We have known Oswald Trippe for quite some time as an outstanding competitor. With the recent growth of BB&T in southwest Florida following the Colonial acquisition, this is a perfect combination and an outstanding addition to our Florida insurance franchise.

In addition to its Fort Myers headquarters, Oswald Trippe has offices in Cape Coral, Miami, Naples, Sarasota, Holmes Beach, Weston and Ocala. It also operates four offices in North Carolina that were not part of the BB&T Insurance acquisition.

Trippe will remain with BB&T-Oswald Trippe in a client and community relationships and management consulting role. Agency President John Pollock will serve as agency manager and report to BB&T Insurance Regional Manager Rick Iler.

Oswald Trippe provides commercial property and casualty, employee benefits, personal lines and professional liability protection to businesses and individuals throughout Florida.