Posted 1/24/2012 03:59 pm
Updated 3 years ago
Stephens Insurance LLC of Little Rock has acquired the Grace Group, an independent insurance agency also based in Little Rock.
As part of acquisition, Grace Group founder Ted Grace joins Stephens Insurance as a senior vice president in the risk management group. Also joining Stephens Insurance from the Grace Group are Kathy Jones and Brittany Bulloch.
Terms of the deal were not announced.
"Ted and his team bring a wealth of experience and depth to our organization. They will play an important part in our future growth plans," Marty Rhodes, president and CEO of Stephens Insurance, said in a released statement.
Ted Grace started his firm in 1996 and brings 32 years of experience in the insurance industry to Stephens. Grace holds a bachelor's degree in marketing from the University of Arkansas at Little Rock and a master's degree in insurance from Georgia State University.
During his career in the insurance industry, Grace has served as an agent, producer and agency owner. In 1998, he was recognized as one of Arkansas Business' "40 Under 40".
In October, Stephens Insurance Services was ranked as the second-largest agency in the state by Arkansas Business.