Current Report Filing (8-k)
October 01 2015 - 4:34PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________
Form 8-K
Current Report
______________
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of
1934
October 1, 2015
Date of Report (Date of earliest
event reported)
BB&T Corporation
(Exact name of registrant as specified
in its charter)
Commission file number: 1-10853
______________
North Carolina |
56-0939887 |
(State of incorporation) |
(I.R.S. Employer Identification No.) |
200 West Second Street |
|
Winston-Salem, North Carolina |
27101 |
(Address of principal executive offices) |
(Zip Code) |
(336) 733-2000
(Registrant's telephone number, including
area code)
______________
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions:
[ ] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
On October 1, 2015, BB&T IHC International Ltd., a subsidiary of BB&T Corporation, issued a press release
announcing that it has reached an agreement to enter into a partnership with Willis Group Holdings and Miller Insurance Services
LLP. A copy of the press release issued by BB&T IHC International Ltd. announcing the agreement is attached hereto as Exhibit
99.1.
ITEM 9.01 |
Financial Statements and Exhibits. |
Exhibit No. |
Description of Exhibit |
99.1 |
Copy of press release announcing that BB&T IHC International Ltd., a subsidiary of BB&T Corporation, has
reached an agreement to enter into a partnership with Willis Group Holdings and Miller Insurance Services LLP. |
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S I G N A T U R E
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
|
BB&T CORPORATION |
|
(Registrant) |
|
|
|
By: /s/ Cynthia B. Powell |
|
|
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Cynthia B. Powell |
|
Executive Vice President and Corporate Controller |
|
(Principal Accounting Officer) |
Date: October 1, 2015
Exhibit 99.1
Oct. 1, 2015
FOR IMMEDIATE RELEASE
Contacts: | |
| |
|
ANALYSTS | |
MEDIA | |
|
Alan Greer | |
Tamera Gjesdal | |
Cynthia A. Williams |
Executive Vice President | |
Senior Vice President | |
Senior Executive Vice President |
Investor Relations | |
Investor Relations | |
Corporate Communications |
(336) 733-3021 | |
(336) 733-3058 | |
(336) 733-1470 |
BB&T acquires stake in leading Lloyd’s broker
WINSTON-SALEM, N.C. – BB&T IHC International Ltd., a
subsidiary of BB&T Corporation (NYSE: BBT), announced today it has reached an agreement to enter into a partnership with Willis
Group Holdings (NYSE: WSH), the global risk advisor, re/insurance broking and human capital and benefits firm, and
Miller Insurance Services LLP, a specialist wholesale insurance broker operating internationally
and a top five Lloyd’s broker.
On June 1, 2015, Willis announced that it had acquired an 85 percent
interest in the Miller partnership. Partners of Miller retain the remaining 15 percent interest which will be transferred to new
generations of Miller partners in perpetuity. Willis’ acquisition of an 85 percent stake in Miller Insurance Services LLP
was completed through Miller 2015 Limited, a subsidiary of Willis established exclusively to house this partnership.
BB&T has agreed to acquire 19.9 percent of Miller 2015 Limited
from Willis, resulting in a 16.9 percent interest in Miller Insurance Services LLP.
“The Lloyd’s market is a global center of excellence
for specialty insurance and is strategically important to BB&T Insurance Holdings. This investment establishes stronger connectivity
with the Lloyd’s market and provides greater certainty of high quality access for BB&T Insurance. Miller has been a strong
and valuable partner. We are pleased to be able to deepen our relationship through an ownership stake and enhance BB&T Insurance’s
overall customer value proposition and offering,” said John
Howard, vice chairman and CEO of the Wholesale and Specialty division of BB&T Insurance Holdings. Howard was recently named
chairman and CEO of BB&T Insurance Holdings Inc. effective Jan. 1, 2016.
The transaction is subject to customary closing conditions including
regulatory approval and is expected to close in the fourth quarter of 2015. Terms of the transaction were not disclosed. This transaction
was contemplated in BB&T’s capital plan that has been approved by the Federal Reserve as part of the 2015 Comprehensive
Capital Analysis and Review (CCAR) and does not change BB&T’s previously announced capital actions.
Deutsche Bank Securities Inc. served as financial advisor to BB&T.
Willkie Farr & Gallagher LLP and Wachtell, Lipton, Rosen & Katz served as legal counsel to BB&T in this transaction.
About BB&T Insurance Holdings
Raleigh, N.C.-based BB&T Insurance Holdings, the fifth largest insurance broker in the U.S. and the sixth largest internationally,
is a wholly owned subsidiary of BB&T Corporation. BB&T Insurance Holdings operates approximately 200 insurance agencies
through subsidiaries BB&T Insurance Services, BB&T Insurance Services of California, McGriff, Seibels & Williams,
CRC Insurance Services, AmRisc, Tapco Underwriters and Crump Life Insurance Services. Visit Insurance.BBT.com to learn more.
About BB&T
BB&T is one of the largest financial services holding companies
in the U.S. with approximately $210 billion in assets and market capitalization of approximately $31.3 billion, as of August 17,
2015. Based in Winston-Salem, N.C., the company operates 2,149 financial centers in 15 states and Washington, D.C., and offers
a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services.
A Fortune 500 company, BB&T is consistently recognized for outstanding client satisfaction by the U.S. Small Business Administration,
Greenwich Associates and others. BB&T has also been named one of the World's Strongest Banks by Bloomberg Markets Magazine,
one of the top three in the U.S. and in the top 15 globally. More information about BB&T and its full line of products and
services is available at BBT.com.
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