Sunstar Insurance Acquires Campbell & Co.

Andrew Meadors (photo provided by Sunstar Insurance Group)

Sunstar Insurance Group LLC of Memphis continued adding to its Arkansas presence on Monday, acquiring Campbell & Co. Insurance of Camden.

It’s Sunstar’s seventh Arkansas acquisition since Andrew Meadors joined the firm in 2017. Meadors leads Sunstar’s Arkansas operations.

“I’ve always heard about Campbell & Company my entire career,” Meadors said. “I am thrilled to now be associated with such a fine group of professionals. Jim Black and his team have built a great operation. The Sunstar model is working in Arkansas, as evidenced by our now 87 people in 12 locations across this great state.”

Financial terms of the deal were not disclosed.

Campbell & Co. was No. 11 on Arkansas Business’ most recent list of the state’s largest insurance companies ranked by premium written in Arkansas in 2019. Campbell & Co. reported 2019 premium of $32.5 million and 40 employees across offices in Camden, El Dorado, Magnolia, Morrilton, Russellville, Sheridan and White Hall.

It was founded by Harold Campbell, a 2016 inductee into the Arkansas Insurance Hall of Fame. Black was part of the group that bought out Campbell’s ownership in the company in 2006.

“I feel privileged to get to join forces with Andrew,” said Black, who joined Sunstar Arkansas’ executive team and will continue working in Camden. “It’s a win-win for everyone involved, especially our customers. This allows Campbell & Company to offer our customers enhanced resources, better service and more competitive rates.”

Sunstar ranked No. 7 with 2019 premium of $72.5 million. With the purchase of Campbell & Co., Sunstar now has 87 employees in 12 offices in Arkansas, including in Little Rock, Springdale, Jonesboro, Paragould and Hot Springs.

Meadors is a former owner of the Meadors Adams & Lee insurance agency in Little Rock. He left the agency in 2016, selling his half of the firm to partner Roberts Lee. He joined Sunstar the next year as the company acquired Simmons Bank of Pine Bluff’s property and casualty business.

That purchase began a series of Arkansas acquisitions that include the Farris Insurance Agency of Springdale, the Todd Agency of Little Rock, the Matson Agency of Little Rock and Town & Country Insurance Agency of Jonesboro.

Sunstar Insurance Group was founded in 2012 by Chairman and CEO David “Casey” Bowlin.

Meadors said Monday that the company’s quick growth shows that the Sunstar model is working in Arkansas. He said Sunstar has partnered with Brown Brothers Harriman & Co. of New York, one of the country’s oldest and largest private equity firms, which has given the insurer access to “a deep amount capital” to grow. He said Sunstar is BBH’s first foray into insurance. BBH’s other portfolio companies include Westrock Coffee Holdings of Little Rock.

In addition to Arkansas, Sunstar operates in Tennessee, Missouri, Alabama, Georgia and Kansas. Insurance Journal, an industry trade publication, ranked Sunstar No. 32 among the country’s largest property and casualty insurance agencies.