CRC Insurance Services Inc., the wholesale insurance subsidiary of BB&T Corporation principal subsidiary Branch Banking and Trust Company, today revealed its plans to acquire TAPCO Underwriters Inc.

Burlington, N. C.-based TAPCO Underwriters is a managing general agency specializing in high-volume, middle-market excess and surplus insurance lines. The 25-year-old company also operates regional offices in Clearwater, Fla., and Manassas, Va.

Post acquisition, TAPCO will operate as a division of CRC managing general agency Southern Cross Underwriters.

The transaction is expected to be completed before Dec. 31. However the financial terms were not disclosed.

Birmingham-based CRC, which founded in 1982 has 26 offices and 865 employees across the country. It was acquired by BB&T in
2002. The company with approximately $3 billion in premiums in 2007, is the largest wholesale property and casualty insurance broker in the nation.

BB&T Corporation is the nation's 14th largest financial holding company.