The Acquisition of Regions Insurance Group April 6, 2018
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Overview & Strategic Rationale Regions Insurance Group is a leading insurance broker Over $1.5 billion in annual premiums Footprint covers the Southeast, Texas and Indiana 60,000+ clients with over 100,000 policies Diverse client base (top 20 clients account for ~15% of revenue) Diverse producer group (top 20 producers account for ~25% of revenue) Diverse product mix across P&C and Employee Benefits, with a small wholesale segment A compelling acquisition opportunity for BB&T Adds density to retail insurance network in BB&T s core Southeastern markets Strong cultural compatibility with BB&T Talented and diverse group of producers BB&T has a strong track record of producer retention in past acquisitions Provides incremental balance between BB&T s wholesale and retail insurance channels 49% of BB&T Insurance s pro forma insurance brokerage revenue will be derived through its retail insurance network Almost $2 billion pro forma insurance brokerage revenue Reinforces BB&T s current position as 5 th largest insurance broker in the U.S. and globally Bank-owned brokerage reduces integration risk Anticipated to close in 3 rd quarter of 2018 Capital used in this transaction will impact BB&T s 2018 CCAR 3
Added Density to Core Southeast Presence WA MT ND MN OR CA NV ID UT AZ WY NM CO SD NE KS OK IA MO AR WI IL TN MS IN KY MI OH WV SC PA ME VT NY NH MA RI CT NJ DE MD VA NC TX AL GA HI LA BB&T Insurance Retail Locations BB&T Insurance Wholesale Locations Regions Insurance Retail Locations FL 4
BB&T Insurance Pro Forma Insurance Brokerage Revenue By Product BB&T Insurance Regions Insurance BB&T Insurance Pro Forma Other 1% Other Wholesale 1% 8% Other 1% Wholesale 54% P&C 34% Employee Benefits 11% Employee Benefits 31% P&C 60% Wholesale 51% P&C 36% Employee Benefits 12% Retail: 46% Retail: 92% Retail: 49% Note: 2017 insurance brokerage revenue. 5