P&C Market Rises 3.7%; Regions Remains No. 1

by Arkansas Business Staff  on Monday, Oct. 24, 2011 12:00 am  

The overall market for property and casualty insurance in the state was up 3.7 percent to $3.88 billion in 2010 over 2009, according to figures from the Arkansas Insurance Department provided to Arkansas Business.

And most of the independent insurance agencies in Arkansas writing P&C and life and health insurance reported increases in premium.

Arkansas Business’ annual list of the state’s largest insurance agencies, however, is incomplete because it relies on the participation of the agencies. This year’s list features 17 agencies, ranging in total premium from $404.1 million to $8.1 million.

(To see a list of the largest insurance agencies list click here for a PDF or here for a spreadsheet version. To see the largest proerpty & casualty insurance companies list click here, with a spreadsheet available for purchase here.)

Regions Insurance Inc. of Little Rock remained the No. 1 insurance agency in Arkansas.

With Arkansas offices also in Fayetteville and Fort Smith, Regions wrote $404.1 million in total premium last year in the state. The total premium written for the company was $925.8 million in 2010, up 4.75 percent from the previous year.

Most of Region’s premium in Arkansas, $248.9 million, came from its P&C business.

The top four agencies retained their position on this year’s list. No. 2 was Stephens Insurance of Little Rock, which is a division of Stephens Inc. It had total premium of $357.35 million.

With total premium of $51.33 million, Brown & Brown of Arkansas Inc. moved up one position to No. 5. Last year the Little Rock agency reported premium of $49.3 million.

Falling from the No. 5 slot to No. 6 on this year’s list is First Arkansas Insurance of Pine Bluff. Although First Arkansas’ premium written increased slightly to $51 million, it wasn’t enough to remain in the top five.

Meadors Adams & Lee Inc. of Little Rock also moved up the list from No. 9 to No. 8. With $40.5 million in total premium written in 2010, Meadors changed places on the list with Hoffman-Henry Insurance of Little Rock. Hoffman-Henry’s premium fell 8.9 percent in 2010 to $36.8 million.

New on the list is United Insurance Agency Inc. of Harrison. With $8.15 million in premium, the agency was No. 17 on the list.



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