OREANDA-NEWS. June 02, 2015. BB&T Insurance Holdings Inc., a subsidiary of BB&T Corporation (NYSE: BBT), announced today it has completed its agreement to significantly increase its partnership interest in AmRisc, LP (AmRisc). In a related announcement, BB&T Corporation completed the sale of American Coastal Insurance Company (AmCoastal) to certain members of the AmRisc management team.

Management of AmRisc will retain a minority interest in the company and continue to strategically grow and manage the business. The sale of American Coastal Insurance Company eliminates BB&T's exposure to potential underwriting losses in the future. The net effect of these two transactions is not expected to have a material impact on BB&T's earnings or capital position. These transactions were included in BB&T's capital plan as part of the 2015 Comprehensive Capital Analysis and Review (CCAR). The Federal Reserve System accepted BB&T's 2015 CCAR submission and did not object to its proposed capital actions.

Deutsche Bank Securities Inc. served as financial advisor to BB&T. Willkie Farr & Gallagher LLP served as legal counsel to BB&T in this transaction. Willis Capital Markets & Advisory served as financial advisor to the AmRisc management team. Debevoise & Plimpton, LLP and Isaacks & Associates, Ltd. LLP, served as legal counsel to AmRisc in this transaction.