CRC To Buy Southern Cross Underwriters
|NU Online News Service, May 12, 10:12a.m.?EDT?Wholesale insurance broker CRC Insurance ServicesInc. announced its plans to buy the Jackson, Miss.-based wholesalerSouthern Cross Underwriters Inc.
|CRC, a subsidiary of Winston-Salem, N.C.-based BB&T Corp., abank with $79.6 billion in assets, said it expects to complete thetransaction in July. Once completed, Southern Cross will operate asa division of CRC.
|Founded in 1976, Southern Cross operates offices in Knoxvilleand Nashville, Tenn., with a total of 75 employees.
|Southern Cross' specialty lines include commercialtransportation, property-casualty liability, marine liability andliability coverage for directors and officers.
|Terms of the purchase were not disclosed.
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