Crump Group Announces Sale of Life and Property & Casualty Insurance Divisions to BB&T

Crump Group, Inc.announced today that its life insurance and property and casualty insurance divisions are being sold to BB&T (NYSE: BBT) along with the rights to the Crump name. CGI President and Chief Executive Officer John Howard said, “This transaction will be a positive development for our insurance clients and carriers, who will have access to greater resources and capabilities, as well as our employees, who will become part of one of the largest global providers of insurance services,” adding that the company's retirement services division, Ascensus, will continue business as usual after this transaction.