CRC Insurance Services Inc., BB&T Corp.'s wholesale insurance unit, announced that it has agreed to acquire TAPCO Underwriters Inc. of Burlington, N.C.
TAPCO is a managing general agency specializing in high-volume, middle-market excess and surplus insurance lines. It has offices in Clearwater, Fla., and Manassas, Va.
CRC, which is based in Birmingham, Ala., had $3 billion in premiums in 2007. It is the nation's largest wholesale property and casualty insurance broker.
CRC said Friday that when the deal is completed on Dec. 31, TAPCO will operate as a division of CRC managing general agency Southern Cross Underwriters of Jackson, Miss. CRC, which has 26 offices nationally, was acquired by BB&T in 2002. CRC bought Southern Cross in 2003.
On Thursday, BB&T Insurance Services announced a deal to buy J. Rolfe Davis Insurance in Maitland, Fla.