BB&T Insurance Services of Raleigh, N.C., plans to expand its Tennessee operation with the acquisition of Cooper, Love & Jackson in Nashville. According to BB&T, it already owns the BB&T-Thornton & Harwell agency, based in nearby Brentwood. The two agencies would give BB&T one of the largest insurance operations in the economically attractive metropolitan Nashville area. The agencies would employ more than 80 people combined.
Cooper, Love & Jackson, originally founded as The Love Agency in 1885, specializes in commercial risk, employee benefits and personal lines.
“By combining Cooper, Love & Jackson with our existing BB&T Thornton- Harwell, it really broadens our product offerings and solidifies us as a full- service insurance operation in Nashville,” said Wade Reece, president of BB&T Insurance Services. “We have long admired Cooper, Love & Jackson for their expertise and solid reputation in the Nashville business community.”
The transaction is expected to be completed in early September. Terms were not disclosed.
Cooper, Love & Jackson President Clay Jackson will be named BB&T Insurance Services area executive for central Tennessee. He will continue to be based at the Cooper, Love & Jackson location at 4400 Harding Road.
“The single most important reason for our success through the years has been our clear focus on meeting the needs and expectations of our clients,” Jackson said. “BB&T Insurance Services shares that same commitment to highly personal client service. Our partnership will be an exciting development for the greater Nashville area.”
David Sciortino, executive vice president of Cooper, Love & Jackson, will be named BB&T’s area insurance manager for greater Nashville. He will work closely with BB&T-Thornton & Harwell manager Carlton Smith.
Raleigh-based BB&T Insurance Services is a wholly owned subsidiary of Branch Banking and Trust Company and is the largest retail broker in the Carolinas and Virginia.
Topics Mergers & Acquisitions
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