CRC Insurance Services Acquires Southern Risk

CRC Insurance Services Inc., the wholesale insurance subsidiary of BB&T Corporation principal subsidiary Branch Banking and Trust Company, today completed a purchase of Southern Risk Operations LLC.

Sumter, S.C.-based Southern Risk is an excess and surplus (E&S) insurance broker that specializes in finding coverage for a broad range of risks, including high-risk personal and commercial properties along the East Coast.

The 18-year-old company also operates branch offices in Miami, Marlton, N.J., Concord, N.H., and Timonium, Md., through its Horan Goldman subsidiary. Horan Goldman was founded in 1963.

Southern Risk will operate as a division of CRC managing general agency Southern Cross Underwriters. Southern Risk Operations was founded in 1990 by Jim Mayes, the company's president. It has 78 employees.

Southern Risk's specialty lines include commercial transportation, property and liability, marine, and professional coverage for directors and officers.