MJ Kelly buys AMCO's book of business

by Melissa Wilson

SBJ Staff

The Little Rock, Ark., office of Springfield-based insurance brokerage firm MJ Kelly Company has purchased the commercial book of business of Agency Management Corp., which did business as Audobon Insurance Group, Special Risk Division, in Arkansas.

AMCO, which is a subsidiary of American International Group, had operated in Arkansas for six years. It sold its book of business to MJ Kelly after its principals decided to withdraw from Arkansas. AMCO continues to operate agencies in Mississippi and Louisiana, according to MJ Kelly President Jim Adams.

"The opportunity came to us from one of our other companies that knew (AMCO was) looking for a buyer, and when we called the principal, Joe Cudney, he agreed to our offer," Adams said.

Adams said MJ Kelly began servicing AMCO's customers July 15, when the transfer of AMCO's agency business became effective. Adams declined to disclose how much MJ Kelly paid for AMCO's book of business.

"Anytime you can eliminate a competitor and pick up some of their sources, it helps you grow," Adams said.

MJ Kelly offers specialty lines of insurance such as accident, general and professional liability and commercial fire insurance.

MJ Kelly operates 11 agencies nationwide, and has its headquarters in Springfield.