Regions Financial Buys Merchants
NU Online News Service, Sept. 30, 2:43 p.m. EDT?Birmingham, Ala.-based Regions Financial Corp. has acquired the assets of Louisiana-based Merchants Insurance Services Inc.
The Merchants organization consists of four retail insurance agencies operating under the trade name the Crick Agency, and a specialty wholesale managing general agency under the Merchants name.
Both the wholesale and retail agencies will continue to operate under their respective names as part of Regions' insurance line of business, the carrier said, which is headed by Arkansas-based broker Rebsamen Insurance.
The line of business also includes ICT Group, located in Louisiana.
Terms of the acquisition were not disclosed.
Region offers personal and commercial insurance, including property, casualty, life, health and accident with annual revenues approaching $58 million.
Regions Financial Corp., with $49.5 billion in assets, serves customers throughout the South, providing traditional commercial and retail banking and other financial services.
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