The nation’s second-largest bank-owned insurance brokerage, BXS Insurance, is changing its brand name to Cadence Insurance, the company announced.
The BXSI name is changing but the people are not, CEO Markham McKnight said in a news release.
The rebranding comes a few months after Mississippi-based BancorpSouth merged with Cadence Bank, headquartered in Houston, Texas. To win U.S. Department of Justice approval for the bank merger, the banks agreed to sell off seven bank branches in northeast Mississippi late last year. Bancorp adopted the Cadence name, which is traded on New York Stock Exchange.
BXS Insurance has been listed in the top 10% of brokers in the country, based on total revenue, the company said. It has 30 offices in eight states and brokers commercial insurance, surety, and benefits. Cadence Bank has 400 branch locations in the South, Midwest and Texas.
The name change should begin in July, pending regulatory approval, the company said.
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