Frost Acquires Sammons Group

NU Online News Service, Aug. 6, 11:30 a.m. EDT?Frost Insurance Agency has acquired The Sammons Group Inc., an independent insurance agency, from the estate of the company's founder, Charles D. Sammons, following his death in February.[@@]

Terms of the deal were not released.

The Sammons Group was founded in Dallas in 1981 by Mr. Sammons, who built it into a full-service agency with 32 employees. The agency provides commercial property-casualty, personal lines, life insurance and employee benefits.

In addition to the agency's Dallas headquarters, it has a second office in Lancaster, Texas, operating under the name GlennMarco Insurance Agency.

The Sammons Group Inc. is the seventh acquisition made by Frost Insurance Agency, a subsidiary of Frost Bank, the banking operation of Cullen/Frost Bankers Inc., a $9.6 billion financial holding company headquartered in San Antonio, Texas.

Earlier acquisitions include Professional Insurance Agents Inc., in Victoria, San Antonio, New Braunfels and Refugio, Texas, in 1999; Wayland Hancock Insurance Agency Inc., in Houston, and Nieman Hanks Puryear and Nieman Hanks Puryear Benefits, both of Austin, Texas, in 2000; AIS Insurance and Risk Management of Fort Worth, Texas, in 2001; Jentsch Financial Group of Victoria in 2002; and Brokers Insurance Designs of Fort Worth in 2003.

Additional information is available at www.frostbank.com.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.