BIRMINGHAM, Ala.--(BUSINESS WIRE)--Regions Insurance, Inc., a subsidiary of Regions Insurance Group, Inc. and an affiliate of Regions Bank, today announced the acquisition of The A.I. Group, Inc., with offices in Greater Atlanta and Athens, Georgia.
The A.I. Group provides employee benefits consulting and insurance brokerage services focused on mid-sized and large employers throughout the United States. Managing Partners Dave Woodruff and Dan Murphy, along with 39 associates of The A.I. Group, have joined Regions Insurance. Woodruff and Murphy will facilitate the firm’s integration activities and both will play key roles in the ongoing employee benefits operations in Georgia.
The acquisition of The A.I. Group builds on the recent expansion of Regions Insurance. Under the leadership of Mike Breedlove, CEO for Regions Insurance of Georgia/South Carolina, the first Regions Insurance office in Georgia was established in Atlanta in November 2012, followed by expansion into South Carolina in 2013. With the addition of The A.I. Group, the Regions Insurance Georgia/South Carolina operations will exceed 100 associates with expertise in property, casualty, employee benefits and captive insurance.
“The A.I. Group has many years of experience providing large group employee benefits expertise to companies nationwide in a customized and strategic manner,” said Curren Coco, CEO of Regions Insurance Group. “We are pleased to welcome The A.I. Group to Regions Insurance as we continue to expand our presence and capabilities to meet the needs of a diverse group of clients.”
Dave Woodruff, managing partner and co-founder of The A.I. Group added, “Since our beginning over 25 years ago, our team has had the opportunity to help our clients navigate the many changes in the insurance, regulatory and employee benefits space. Properly managing these changes for our clients has allowed us to grow and become one of the largest benefits consulting firms in the Southeast. Regions Insurance shares our commitment to creating a culture of integrity, creativity, customer service, and a positive work environment for associates. We are excited about the opportunity to contribute to such a dynamic and growing company.”
Dan Murphy, managing partner and co-founder of The A.I. Group said, “Combining with Regions Insurance will allow us to expand our focus on providing employee benefits consulting services to meet our clients’ unique needs. This move will allow both of our firms to achieve more together than we could separately, and I’m pleased that The A.I. Group will become part of a growing and diversified financial services company.”
Woodruff and Murphy are managing partners and co-founders of The A.I. Group. While the present company formed in January of 2000, the roots of the firm date to 1989 when Woodruff established an employee benefits division for predecessor firm AI Insurance. Murphy joined the company in 1999. In 2000, Woodruff and Murphy bought out the employee benefits division of AI Insurance and launched The A.I. Group. The predecessor company, AI Insurance, a property casualty consulting firm led by Lewis Scruggs, joined Regions Insurance in April 2014.
Regions Insurance serves customers across the country through a growing network of offices throughout the Southeast, Texas and Indiana. In addition to business insurance and individual insurance options, Regions Insurance also provides employee benefits services, private health insurance exchanges, and captive insurance solutions. Over the past 18 months, Regions Insurance has opened new offices in St. Petersburg, Fla.; Dallas, Texas; New Orleans, La; and Athens, Ga. Regions Insurance has also expanded its employee benefits practices in Memphis, Tenn.; Jackson, Miss.; and Nashville, Tenn.
About Regions Insurance
Regions Insurance, Inc., a subsidiary of Regions Insurance Group, Inc. and an affiliate of Regions Bank, offers comprehensive insurance solutions and risk management services for businesses and individuals through more than 600 insurance professionals. Additional information about Regions Insurance and its products and services can be found at www.regionsinsurance.com.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $122 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 1,630 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.