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Guaranty Acquires TCT Insurance

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NU Online News Service, Feb. 26, 2004, 2:43 p.m. EST – Guaranty Insurance Services Inc. has acquired TCT Insurance Services Inc., Dallas.[@@]

Guaranty, a unit of Temple-Inland Inc., Austin, Texas, generates about $50 million in annual revenue by selling life insurance, health insurance and annuities as well as employee benefits and property-casualty insurance.

TCT generates about $7 million in annual revenue by selling employee benefits and property-casualty insurance in the Dallas-Fort Worth area. It has a staff of 50. The agency was formed in 1998 through the merger of 3 Dallas-area agencies: the McCall Agency, the LJK Insurance Agency and Bailey-Thompson Insurance.

The price of the deal and other terms were not available, but Guaranty says TCT’s president, Brook Crawford, will manage Guaranty’s Dallas insurance operations.