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Roberts Lee Becomes Sole Owner at Meadors Adams & Lee

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Meadors Adams & Lee of Little Rock announced Friday that partner Roberts Lee is now sole owner of the insurance agency.

Terms of the deal were not disclosed. Before Friday’s announcement, Lee and Andrew Meadors were equal owners of the independent insurance agency, which has 35 employees at its headquarters in the River Market District. 

Founded in 1909, the agency offers a range of business and personal insurance services and employee benefits. Meadors Adams & Lee ranked No. 6 on Arkansas Business’ most recent list of the state’s largest insurance agencies, with $50 million in annual premium in 2014.

“Our company has seen a lot of change in its 107-year history,” Lee said in a news release. “This is the next chapter. But the one thing that will not change is our commitment to the people and business community of Arkansas.”

Meadors, who joined the firm in 1987 and became a partner in 1999, said this deal will allow him to pursue other interests. 

“I plan to cast a wide net in a number of different areas as I decide what to do next and am looking forward to where the future leads me,” Meadors said. “Sports, entertainment, business, risk management or a combination thereof, are likely landing areas. 

“Roberts deserves this opportunity,” he said. “He is an outstanding insurance producer and I’m impressed he was able to pull this off.”

In addition to selling insurance, Meadors has long maintained business interests in the sports world. Many know Meadors from his days as business advisor to Arkansas native and former middleweight boxing champion Jermain Taylor in the 2000s. He also co-hosted a local sports talk radio show for nearly a decade.

Early in his career, he worked as an independent contractor for ABC and CBS, where he helped TV crews with local contacts, and as a statistician and researcher for “Monday Night Football” and Southwest Conference football.

Lee got his start in insurance at Ellis Insurance in Hot Springs in 1998. He joined Meadors & Adams in 1999, and in 2005, became a partner, and the firm’s name was changed to Meadors Adams & Lee. 

Lee said he expects no changes for the company’s employees.

Andrew Meadors is the son of Allan Meadors, who was recently inducted into the inaugural class of the Arkansas Insurance Hall of Fame. Allan Meadors purchased the agency in 1964 and plans to remain with the company.

The two partners said they explored selling the agency. Citing “a great deal of interest,” Lee said he ultimately was not interested in selling. 

“I had more work to do and maintaining local ownership was important to me and to our customers,” Lee said. “With that in mind, it led to me offering to purchase Andrew’s stock.”

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