The office was established as a team of five principals and 29 associates joined Regions Insurance, Inc.1 from the former A.I. Insurance Group in Athens. This experienced team will provide captive insurance capabilities to clients throughout the markets Regions Insurance serves. The Athens office will also provide property casualty insurance brokerage services with a focus on companies located in Georgia and throughout the region.
“We are excited to expand the capabilities and geographic presence of Regions Insurance with the addition of an experienced team from the former A.I. Insurance,” said Curren Coco, president and CEO of Regions Insurance Group. “By establishing a captive practice group at Regions Insurance, we are now able to offer clients additional tools to help them manage risk in an efficient and affordable manner. This outstanding team has a great depth of experience in both the captive and property casualty sectors and is uniquely positioned to meet the diverse and changing insurance needs of companies large and small.”
Captive insurance is a form of self-insurance created by companies or groups of companies as an alternative to traditional insurance. Lewis Scruggs Jr., previously senior partner for A.I. Insurance, leads the captive practice group for Regions Insurance. The practice group will serve clients throughout the markets in which Regions Insurance operates. The company’s footprint stretches across the Southeast, Texas, and Indiana.
Scruggs and his team market more than a dozen member-owned group captives for national and multinational clients and have access to three captive facilities that are only available to a core group of qualified insurance professionals. Scruggs has more than 40 years of industry experience and is a graduate of the University of Georgia.
The Athens office will report to Mike Breedlove, head of Regions Insurance for Georgia and South Carolina.
This office is among the latest significant additions to Regions Insurance over the past 18 months as part of the firm’s efforts to expand its coverage and capabilities. Since November 2012, Regions Insurance has established new offices in Atlanta, Ga.; Columbia, S.C.; New Orleans, La.; Dallas, Texas; and St. Petersburg, Fla. Regions Insurance has also expanded its employee benefits practices in Memphis, Tenn.; Jackson, Miss. and Nashville, Tenn.
1 Regions Insurance has entered into an agreement with A. I. Insurance to obtain the firm’s personnel and accounts. Financial terms of the agreement are not disclosed.
About Regions Insurance
Regions Insurance, an affiliate of Regions Bank, is ranked among the top 30 U.S. insurance brokers and is the sixth largest insurance broker based in the Southeast. Regions Insurance offers comprehensive insurance solutions and risk management services for businesses and individuals through more than 600 insurance professionals located throughout the 16 states Regions serves. Additional information about Regions Insurance and its products and services may be found at www.regionsinsurance.com.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $119 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, mortgage, and insurance products and services. Regions serves customers in 16 states across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,700 banking offices and 2,000 ATMs. Additional information about Regions and its full line of products and services can be found at www.regions.com.