Texas Associates Insurors and The John A. Barclay Agency, both in Austin, have finalized a merger agreement penned in September, with the Barclay Agency officially doing business from Texas Associates’ offices as of Jan. 1.
According to Randy Reynolds, managing partner with TAI, the agreement is one of mutual gain for both companies. Negotiations between the two began over the summer.
“John brings a solid reputation…and will double our business volume,” Reynolds said. And Barclay will gain from TAI’s larger organization, the expanded staff and expanded business opportunities, Reynolds added.
The agreement was finalized in September, and Barclay and his five employees moved into TAI’s Lost Creek offices in November. Reynolds said the companies have not quite completed the minutia of combining their businesses, though he anticipates it will be finished soon. Barclay will serve as one of TAI’s producing partners, Reynolds said, and will also sit on the company board.
Started in 1954 by the former officers of First Federal Savings & Loan in downtown Austin, TAI has grown to become one of the largest independent insurance agencies in Austin.
The agency originally operated as a subsidiary of First Federal Savings, writing primarily homeowners and mortgage related exposures. In 1983, TAI took a more aggressive posture and broadened its base of customers. In 1986, Reynolds was hired as president, and moved the agency out of First Federal’s downtown location to be more accessible to clients. In 1990, he purchased the agency.
Topics Texas
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