BB&T Insurance Services, an insurance broker, has said that it will expand its California operations with the acquisition of Liberty Benefit Insurance Services of California.
Established in 1991, Liberty, a full-service employee benefits broker, partners with large commercial clients in the San Francisco Bay Area to help them manage rising health care costs, changing regulations and complex benefits administration.
Following this acquisition, Liberty will operate as BB&T-Liberty Benefit Insurance Services and adds 25 employees to BB&T Insurance Services.
BB&T Insurance Services operates California agencies in Folsom, Fullerton, Glendale, Irvine, Pleasanton, San Diego and San Francisco.
Liberty Benefit Insurance Services president Dixon Greer said by partnering with the insurance broker in the country, clients will have access to a broader offering of insurance and risk management services from a nationally recognized leader in the industry.
The transaction is expected to be completed October 1. Terms were not disclosed.