Wiggin and Dana Assists in Insurance Acquisition
Wiggin and Dana LLP recently advised client Connecticut Underwriters, Inc. (CUI), in connection with a transaction in which CRC Insurance Services, Inc. (CRC), a wholesale insurance subsidiary of BB&T Corporation's principal subsidiary, Branch Banking and Trust Company, acquired substantially all of the assets of CUI, a premier wholesale broker/managing general agent (MGA). CUI is one of the Northeast's leading independent excess and surplus lines brokers. CUI will operate as part of CRC's Southern Cross Underwriters (SCU) division. The sale price was not disclosed.
The Wiggin and Dana team advising CUI was led by corporate partner Bill Perrone, and included corporate associates Jonathan Medalsy and Mila van Kempen as well as real estate associate, Mike Lipp.