Sunstar to merge with First Arkansas Insurance

by Roby Brock ([email protected]) 36 views 

Sunstar Insurance Group, LLC announced a merger Tuesday (June 11) with First Arkansas Insurance in Pine Bluff. Terms of the private deal were not disclosed.

The move adds 14 independent insurance locations and over 120 employees to Sunstar’s statewide presence.

First Arkansas will continue to operate with the same leadership team and employees, as a division of Sunstar. The combined operations are expected to generate about $19 million in annual revenue, according to a news release.

“We are thrilled with our newest partner in Arkansas. This takes us to a whole new level.” said Andrew “A.B.” Meadors, CEO of Sunstar in Arkansas. “Mike Carter, David Beck, Nick Cox and Nick Dodd have done a great job growing the agency that the legendary Jay Bradford started. I know Jay Bradford and Raymond Haynie — and I knew the great Don Spharler well — there is a longtime connection here.”

“Merging with Sunstar will bring additional resources and we look forward to adding our strengths to theirs to better serve our clients throughout the State of Arkansas,” said Mike Carter, President and CEO of First Arkansas.

“No independent agency broker has ever tried this many new partners and locations around the state before. We are all better together than we are separate, and this will translate into better offerings for our clients,” said Meadors. “We are bullish on Arkansas and its people. We feel great about the future.”

Sunstar Insurance Group, based in Memphis, was founded in 2012 by Chairman and CEO David “Casey” Bowlin and has swiftly grown to become the 32nd largest property and casualty insurance agency in the U.S. as ranked by the industry trade magazine, Insurance Journal.