Striking its second deal in less than a week, BB&T Corp.'s insurance unit announced Tuesday that it is expanding into the Baltimore/Washington metropolitan market by acquiring Atlantic Risk Management Corp. of Columbia, Md.
Founded in 1981, Atlantic Risk Management is an employee benefits broker and a commercial property and casualty insurer with 45 employees. In a news release, Wade Reece, the chairman and chief executive of BB&T Insurance Services, said that the acquisition would help BB&T deepen relationships with its commercial banking clients in the Baltimore/Washington region and "open doors to new clients."
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