New Chapter: Jensen Named CEO of Georgia-Based Southern Trust Insurance

Southern Trust Insurance, a 57-year-old boutique property-casualty insurer with headquarters in Macon, Georgia, has appointed Douglas Jensen president and chief executive officer.

Jensen, with more than 30 years in insurance industry leadership roles, will oversee all company operations, including growth plans for coming years, the company said in a news release.

Jensen previously was chief operating officer at First Acceptance Insurance and was vice president of claims at American National insurance. He replaces former Southern Trust CEO Les Cole, who departed in 2024.

Southern Trust was founded in 1968 by W.H. Anderson II. The insurer now works with more than 300 independent agencies, providing personal and commercial lines coverage in the Southeast.

In the last two years, the company has faced some headwinds. It reported a direct incurred loss ratio of more than 200% for 2024. In January of this year, the AM Best financial rating group affirmed Southern Trust’s financial strength rating of “A- Excellent,” and noted the balance sheet was very strong. But it gave the insurer a negative outlook on credit ratings. The outlook reflected pressure on the operating performance from increased volatility in underwriting results in 2024, AM Best said.

The bottom line also was hurt by adverse reserve development and inflation that caused results to deviate from historical norms, the rating firm explained. Management aggressively cleaned up reserves and did not expect a material impact in the near term.

North Carolina-based Arbour National in 2023 took a majority stake in Southern Trust and its wholesale sister company, contributing $20 million to Southern Trust’s surplus. But the deal resulted in a lawsuit brought by Arbour National.

Topics Georgia