ROCKY MOUNT, N.C., Dec. 18 /PRNewswire/ -- Centura, as part of its long-
term strategy to provide consumers with a full range of financial services,
has significantly expanded its insurance capabilities by acquiring two
insurance agencies and partnering with one of the country's largest insurance
providers.
Centura has signed a definitive agreement to merge with Raleigh-based
Moore & Johnson Agency, Inc. The merger is expected to be finalized at the
end of January. The alliance with Moore & Johnson, combined with the merger
in November of Betts & Company, positions Centura Insurance Services - a
Centura subsidiary - as one of the largest insurance agencies in North
Carolina, based on annual revenues.
In addition, Centura recently signed a partnership agreement with
Travelers Insurance Co., allowing Centura's customers convenient access to
purchasing insurance products 24 hours a day.
"We have significantly expanded our insurance business as part of our
strategy to provide Centura customers with a complete package of financial
solutions that adds value to their lives," said Cecil Sewell, Centura chairman
and chief executive officer. "These mergers and the Travelers partnership
provide more options for our customers, more competitive rates for their
insurance needs, and more knowledgeable and personal customer service."
Centura began offering insurance products in 1994, when it launched
Centura Insurance Services. Today, Centura Insurance Services addresses a
complete range of insurance needs for businesses and individuals throughout
North Carolina.
Moore & Johnson's presence in the Triangle and Centura Insurance Services'
strength in eastern North Carolina will provide customers even greater
convenience and access. Founded in 1924, Moore & Johnson has more than 45
associates and offers a full range of insurance products.
"We're looking forward to joining forces with Centura," said Vick Moore,
president of Moore & Johnson. "Centura's distribution network and its
investment in technology will enable us to even better serve our existing
customers."
With the additions of Moore & Johnson and Betts & Company, Centura has in-
house insurance resources of more than 70 professionals, servicing customers
who prefer a dedicated agent and personalized service. These professionals
also will serve the complex insurance needs of both large and small
businesses.
The agreement with Travelers will enable Centura customers to purchase
automobile, homeowners, life and long-term care insurance through Travelers
via an 800-number call center or on the Internet. This service will allow
customers to connect directly to a Travelers agent to discuss insurance needs
and place orders seven days a week, 24 hours a day. Customers will have fast
and easy access to insurance products offered at extremely competitive rates,
with some premiums discounted as much as 20 percent.
Founded in 1864, Travelers Insurance Company was the first company in
America to insure against accidents. Travelers Life & Annuity provides a full
line of life insurance, individual and group annuities and long-term care
insurance to address customers' asset protection, retirement planning and
estate preservation needs. Travelers Property Casualty provides homeowner's
and auto insurance for both businesses and individual needs.
With assets of $7 billion, Centura provides a complete line of banking,
investment, leasing and trust services to individuals and businesses
throughout North Carolina and the Hampton Roads region of Virginia. Services
are provided through 193 financial service centers, including 20 full-service
locations in Hannaford supermarkets; more than 265 ATMs at financial
centers, Wal-Mart stores and Sam's outlets; the Centura Highway; Centura's
internet site; and through Quicken(R), QuickBooks(R), Microsoft(R) Money and
BankNOW(TM), the leading online money management software packages.
Additional information about Centura is available on its web site at
http://www.centura.com.
SOURCE Centura Banks Inc.
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Related links:
http://www.centura.com
CONTACT:
Clare Condon, Centura Banks Inc.,
919-977-4812
CNOC: http://www.prnewswire.com or fax, 800-758-5804, ext.
870954
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