BB&T Insurance Services of Raleigh, N.C., the nation’s sixth largest insurance broker, announced its entrance into the metro Baltimore area with the acquisition of Atlantic Risk Management Corp. of Columbia.
Founded in 1981, Atlantic Risk Management is a commercial property and casualty and employee benefits broker with 45 employees. The transaction is expected to be completed in October. Terms were not disclosed. Atlantic Risk provides risk management consulting and business insurance products and services both locally and nationally.
Mary Ann Marbury, Atlantic Risk president, will continue to oversee the operation, which will be known as BB&T-Atlantic Risk Management.