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."