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Sunstar Insurance buys RJR Faribo to expand into Minnesota
The acquisition brings RJR Faribo’s 22 employees into Sunstar and extends its Reverence Capital-backed Midwest footprint into its first Minnesota agency.
Sunstar Insurance Group said it acquired RJR Faribo Insurance Agency, its first agency in Minnesota, extending the Reverence Capital-backed company’s Midwest expansion into a new state. Financial terms were not disclosed.
RJR Faribo traces its roots to the 1930s and was formed in 1986 after three predecessor firms merged. Under CEO Mark Lancaster, the agency served Minnesota businesses and individuals for about four decades across commercial and personal insurance lines from offices in Eden Prairie and Faribault, and its 22 employees are set to join Sunstar as part of the deal.
Sunstar’s leadership transition and acquisition infrastructure are part of the broader context for the purchase. After naming Daniel Romero as its first chief acquisition officer in November 2025 to oversee sourcing, structuring, and integrating new agency partnerships, Sunstar later appointed Adam Meyerowitz as chief executive on May 4, 2026, with founder Casey Bowlin moving to executive chairman.
Insurance Business reports that Sunstar now operates 58 agencies across nine states, employs more than 930 professionals, and places more than $2 billion in annual premiums, according to the company’s April 2026 announcement of the CEO appointment.