Regions Names Stone to Head Rebsamen Insurance; McDowell Retiring

Birmingham, Ala.-based Regions Financial Corp. (NYSE: RF) has named Fred B. Stone chairman and CEO of Rebsamen Insurance effective Jan. 3.

Stone will succeed Allen J. McDowell, Rebsamen chairman and CEO, who is retiring after 13 years in his current position and a 40-year career in the insurance industry. Stone is president of Rebsamen Insurance/Springdale Inc., in Fayetteville, Ark., and also has responsibility for Rebsamen Insurance/Fort Smith Inc. and Rebsamen Insurance/Springfield (Mo.). Rebsamen is headquartered in Little Rock, Ark.

“McDowell did an outstanding job with Rebsamen, both before and after Regions acquired it in 2001,” said David L. “Casey” Bowlin, president and CEO of Regions Insurance Group Inc., the corporate parent structure for all of the company’s insurance operating subsidiaries. “His leadership and sales acumen will be missed, but part of the legacy he is leaving behind is a strong team — and a strong leader in Fred Stone.

“Rebsamen’s operations in Northwest Arkansas and Missouri, led by Stone, have experienced tremendous growth over the past five years,” Bowlin said. “He is an excellent manager and insurance broker, and these attributes are both critical in his new role.”

Stone began his career in the insurance industry in 1977 in his hometown of Stuttgart, Ark. He owned agencies in Stuttgart and Heber Springs, Ark., before moving to Fayetteville and founding then-H&S Insurance, which he sold to Rebsamen in 1992. At that time, he became a Rebsamen sales manager, going on to be promoted to executive vice president before being named to his current position.

Stone is a long-time specialist in the area of risk management insurance for large companies, a rapidly growing field.