Little Rock, Arkansas-based Stephens Insurance LLC (Stephens Insurance), an affiliate of independent financial services firm Stephens Inc., has agreed to divest a substantial portion of its personal lines business to Davis & Haynes Insurance Inc. (Davis & Haynes).
Davis & Haynes was established by former Stephens Insurance members Gene Davis, Ben Haynes and Doug Lowe. Haynes, Lowe and the account management team that will be joining Davis & Haynes largely managed the personal lines business being divested.
The Davis & Haynes team has 130 years of combined insurance industry experience.
Stephens Insurance President and Chief Executive Officer Miles Stephens said in a media release that Stephens Insurance will concentrate on “building momentum in our Commercial Lines business.”
Both companies are committed to providing a smooth transition for policyholders, partners, employees and other stakeholders. It is anticipated that all current Stephens Insurance personal lines clients will retain their policies with no change in coverage.
Stephens Insurance currently has more than 170 associates throughout Stephens Insurance’s network of offices in Fayetteville, Ark.; Dallas; Jackson, Miss.; Houston; and Birmingham, Ala..
Source: Stephens Insurance
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