Sunstar Insurance Group LLC has purchased insurance company The Matson Agency of Little Rock. The acquisition was Sunstar’s second of the year. Terms of the deal were not disclosed.
“We are thrilled to add Tracy Matson and his father, ‘Buddy,’ to the growing Sunstar family,” said Andrew ‘A.B.’ Meadors, CEO of Sunstar in Arkansas. “Their business perfectly complements our existing clients and will attract new ones. We’ll work together cross-selling accounts across the state.”
The Matsons will relocate to Sunstar’s offices at 11700 Cantrell Road.
Sunstar Arkansas has three offices in Little Rock, Jonesboro and Helena. The regional insurance company is based in Memphis and operates in Arkansas, Tennessee, Missouri and Kansas. In January, the company purchased Town & Country Insurance Agency in Jonesboro from Stephens Insurance, and in September, Sunstar bought the property and casualty accounts and assets from the insurance affiliates of Simmons Bank.
Sunstar was founded in 2012 and has grown to become the 73rd largest property and casualty insurance company in the United States, according to trade magazine Insurance Journal. Sunstar has more than $250 million in premiums placed on behalf of clients and employs more than 250 insurance professionals. Sunstar’s clients include major national insurance companies and regional carriers, and its premiums cover commercial lines, personal lines, employee benefits and surety bonds.