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First Tennessee Buys Synaxis Group

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NU Online News Service, Jan. 4, 9:30 a.m. – First Tennessee Bank N.A., Nashville, Tenn., has bought Synaxis Group Inc., a Nashville insurance broker.

Terms of the deal were not disclosed.

Synaxis has a network of insurance agencies in Georgia, Kentucky and Tennessee. Founded in 1998, it sells employee benefits as well as personal and commercial lines.

Synaxis employs about 280 people, including 60 sales professionals, and it services more than $275 million in insurance premiums.

First Tennessee National Corp., parent company of First Tennessee Bank, has assets of $19.7 billion.