Raleigh, N.C. — BB&T Insurance Services Inc., a Raleigh, N.C.-based, wholly owned subsidiary of Branch Banking and Trust Co., plans to expand its Florida operation with the acquisition of Burkey Risk Services of metro Orlando.
Burkey Risk Services provides risk management and employee benefits services from its headquarters in Maitland, Fla., and its south Florida office in Boynton Beach. Burkey subsidiary Hotel Insurance Programs of America Inc. specializes in risk management services for hotels.
"We've wanted to enter the greater Orlando market for some time now," says Wade Reece, chairman and CEO of BB&T Insurance Services. "We can think of no better way to accomplish that goal than by teaming up with Burkey, an agency with an impeccable reputation for knowledgeable and highly personal service."
Burkey CEO Gary Burkey will continue to manage the company he founded in 1987. His wife, Julie Burkey, will serve as VP, agency manager and manager of the company's employee benefits division.
The Burkeys' son, Stefan, serves as VP of the company's hospitality division, Hotel Insurance Programs of America, and will continue in that role. Dennis McNamara and his wife, Gail, will continue to manage the Burkey Risk Services south Florida office. The company has 28 employees, all of whom will remain with the company.
"Our partnership with BB&T Insurance provides the best of both worlds—the resources of the nation's seventh largest insurance brokerage, and the ability to provide our clients the same local support they've long enjoyed," says Gary Burkey. "We also believe our employees will become valued contributors as part of the BB&T team."
Source: Branch Banking and Trust Co.
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