BB&T Insurance Holdings Rebrands as Truist Insurance Holdings

Rhea-AI Summary

On June 29, 2020, BB&T Insurance Holdings announced its rebranding as Truist Insurance Holdings, aligning with its parent company, Truist Financial Corporation (NYSE:TFC). As the fifth-largest insurance broker in the U.S. and sixth globally, Truist Insurance Holdings reported $30 billion in premiums in 2019 and employs over 7,500 staff across 250 locations. The rebranding includes a new website and logo, enhancing its market presence and operational capabilities across various insurance sectors.

Positive

• Truist Insurance Holdings is the fifth-largest insurance broker in the U.S. and sixth-largest worldwide.
• Reported $30 billion in premiums for 2019.
• The rebranding connects the brokerage to its parent company, enhancing brand cohesion.
• Operating portfolio includes five complementary businesses, allowing diverse service offerings.

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• None.

CHARLOTTE, N.C., June 29, 2020 /PRNewswire/ -- BB&T Insurance Holdings, Inc., a subsidiary of Truist Bank, today announced that it is now doing business as Truist Insurance Holdings, Inc.

With $30 billion in premium in 2019, Truist Insurance Holdings is the fifth-largest insurance broker in the U.S. and sixth-largest in the world. The company, headquartered at the Truist Center in Charlotte, NC, employs more than 7,500 teammates in more than 250 locations nationwide.

The new name links the insurance brokerage to its owner, Truist Financial Corporation (NYSE:TFC), which was created in late 2019 through the merger of BB&T and SunTrust.

"Rebranding as Truist Insurance Holdings is another important milestone in our nearly 100-year history," said John Howard, the company's chairman and chief executive officer. "Being part of the Truist family of companies provides us with many distinct advantages, including financial strength, access to permanent capital through our parent, and certainty and stability for our clients and teammates, even in these unsettled times."

Truist Insurance Holdings operates a portfolio of five complementary businesses: McGriff, CRC Group, Crump Life, AmRisc, and Premium Finance (AFCO, Prime Rate and CAFO). 

"Nobody else in the insurance brokerage industry has our unique balance of wholesale and retail businesses," Howard said. "This means we can operate across the full insurance marketplace while supporting our teammates with industry-leading relationships, thinking, tools and technology."

In addition to the Insurance Holdings rebranding, BB&T Life Insurance Services is also being rebranded as Truist Life Insurance Services, a division of Crump Life Insurance Services, Inc.

The brand transition for Insurance Holdings includes a new website (www.truistinsurance.com), logo, and updated design and branding elements.

About Truist Insurance Holdings
Truist Insurance Holdings, Inc., the fifth-largest insurance broker in the U.S. and sixth-largest in the world, is a wholly-owned subsidiary of Truist Bank. Truist Insurance Holdings operates more than 250 offices through its subsidiaries:  McGriff Insurance Services, Inc.; McGriff, Seibels & Williams, Inc.; CRC Insurance Services, Inc.; Crump Life Insurance Services, Inc.; AmRisc, LLC; and its Premium Finance companies (AFCO Credit Corporation, Prime Rate Premium Finance Corporation, Inc., and CAFO Inc.). 

 

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SOURCE Truist Insurance Holdings

FAQ

What does the rebranding of BB&T Insurance Holdings to Truist Insurance Holdings mean for TFC?

The rebranding aligns BB&T Insurance Holdings with its parent company, Truist Financial Corporation (TFC), enhancing brand unity and market presence.

When did Truist Insurance Holdings announce its rebranding?

Truist Insurance Holdings announced its rebranding on June 29, 2020.

What are the financial highlights of Truist Insurance Holdings?

Truist Insurance Holdings reported $30 billion in premiums for 2019, making it a significant player in the insurance market.

How many employees does Truist Insurance Holdings have?

Truist Insurance Holdings employs over 7,500 teammates across more than 250 locations.

What will change with the rebranding of BB&T Life Insurance Services?

BB&T Life Insurance Services will be rebranded as Truist Life Insurance Services, part of Crump Life Insurance Services.