P&C Market Ascends to More Than $4B

by Mark Friedman  on Monday, Oct. 22, 2012 12:00 am  

Little Rocks’ Stephens Insurance Inc., a subsidiary of Stephens Inc., saw its premium rise 12.4 percent in 2011 to $401.6 million.

The overall market for property and casualty insurance in Arkansas continued to climb in 2011.

The market reached more than $4 billion in 2011, up 3.25 percent from 2010, according to figures from the Arkansas Insurance Department and provided to Arkansas Business. That was consistent with its rate of growth, 3.7 percent, in 2010.

Most of the independent insurance agencies in Arkansas that write P&C and health insurance reported increases in premium.

(To see a list of the largest insurance agencies list click here. To see the largest proerpty & casualty insurance companies list click here. Spreadsheet versions are also available for the agency list and the P&C list.) 

Arkansas Business’ list of the state’s largest insurance agencies is incomplete because it relies on the participation of the agencies.

This year’s list features 15 agencies ranging in total premium from $435.76

million to $9.15 million.

Regions Insurance Inc. of Little Rock kept its spot as the No. 1 insurance agency in Arkansas with $435.76 million in total premium written in 2011 in Arkansas, an increase of 7.8 percent. It also has the most Arkansas employees with 166. More than half of Regions’ total premium, or $260.8 million, came from its P&C business.

But Stephens Insurance Inc. of Little Rock is quickly gaining ground. Its total 2011 premium hit $401.6 million, up 12.4 percent.

Stephens Insurance CEO Marty Rhodes told Arkansas Business in March that the company also has enjoyed strong internal growth. (For more from Rhodes, see )

Stephens could see even more growth in 2012.

In January, Stephens Insurance, a subsidiary of Stephens Inc. of Little Rock, bought the book of business of Grace Group of Little Rock. In March, Stephens Insurance bought Hoffman-Henry Insurance of Little Rock for an undisclosed price.



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