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Simmons Bank Sells P&C Business to Sunstar Insurance Group

1 min read

Simmons Bank announced Friday that it had completed the sale of its property and casualty insurance business to Sunstar Insurance Group LLC of Memphis.

Simmons’ P&C customer policies have been transferred to Sunstar internally, but most of Simmons’ life, health and employee benefits insurance business was not sold and will continued to be offered as part of the bank’s wealth management services.

Fifty-four Simmons employees became employees of Sunstar on Friday. They have worked for Simmons’ P&C affiliates FSB Insurance Inc., Simmons First Insurance Services Inc. and Simmons First Insurance Services of TN LLC in Little Rock and in six cities in Tennessee.

Some have been in freestanding insurance offices and some have worked in Simmons bank branches, and they will continue to work in the same locations, spokeswoman Caroline Makris said.

“Sunstar Insurance Group is ranked as one of the top 100 independent insurance agencies in the U.S., with client retention rates in excess of 95 percent,” Philip Tappan, executive vice president of financial services for Simmons Bank, said in a release. “Sunstar Insurance Group is known for its integrity, trust and commitment to building long-term client relationships, and I am confident they will continue to meet the property and casualty insurance needs of current and future customers.”

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