BB&T Insurance Services acquires broker Liberty Benefit Insurance Services

RALEIGH, N.C.—BB&T Insurance Services Inc. is expanding its operations in California by acquiring San Jose, Calif.-based Liberty Benefit Insurance Services Inc.

A full-service employee benefits broker and consultant founded in 1991, Liberty provides middle-market and large employers in the San Francisco Bay area with assistance in managing rising health care costs, changing regulations and other complex benefits administration issues. It also provides financial auditing and benefits outsourcing services.

Raleigh, N.C.-based BB&T entered California in June 2008 with its acquisition of San Diego-based UnionBanc Insurance Services. BB&T Insurance Services also operates California agencies in Folsom, Fullerton, Glendale, Irvine, Pleasanton, San Diego and San Francisco.

BB&T Insurance Services, a subsidiary of BB&T Corp., is the nation’s seventh-largest insurance broker based on 2010 brokerage revenues of $1.08 billion, according to Business Insurance’s annual rankings of the world’s largest insurance brokers.