Rackley Insurance acquires Mountain Home company

Feb. 1 was a historic day for Rackley Insurance Agency of Gainesville and Thompson Insurance of Mountain Home, Ark.

That was the day that one of the oldest businesses in Gainesville acquired one of the oldest insurance agencies in Mountain Home.

Steve Rackley of Rackley Insurance and Mike Thompson and Max Freeman of Thompson Insurance announced the acquisition Tuesday.

Thompson Insurance will keep its name and premiums, claims and office address will not change for the firm's policyholders, Rackley said.

The transaction was confirmed for Rackley Insurance Agency when Thompson and Freeman agreed to stay on in an advisory capacity for the next three years, said Rackley. Rackley Insurance will join Thompson Insurance as a member of the Bainswest Insurance Group, a consortium of 12 agencies in Arkansas and eastern Oklahoma that ranks No. 53 in the nation's top 100 independent insurers. Rackley is a member of the Missouri Association of Insurance Agents Board of Directors.