Local company marks milestone

HIGH POINT — A decision by the founders of what was then High Point Bank to get into the insurance business in 1905 turned out to be farsighted.

What’s now HPB Insurance Group is not only still around but is in growth mode as it marks its 120th anniversary.

The firm, which provides insurance brokerage services to businesses and individuals from about 60 carriers, recently moved into newly renovated downtown office space in its hometown.

Its employee benefits management business is its fastest growing segment and the pending merger of its parent company, Pinnacle Financial Partners, with another institution, Synovus, will open new markets like Columbia, South Carolina.

“It makes perfect sense for banks and insurance to be married together because every bank customer needs insurance, and every insurance customer needs a bank,” said HPB Insurance Group Principal Slade Lewis.

This was particularly true with the company’s founding as High Point was becoming a furniture manufacturing boomtown in the early 20th century and factory owners needed to insure their properties.

As the bank grew, so did its insurance division. When the bank was bought first by Bank of North Carolina and then by Pinnacle, HPB Insurance has remained as a subsidiary and is now in many of Pinnacle’s markets, including the Triad, Atlanta, Charleston, South Carolina, Greenville/Spartanburg, South Carolina, Charlotte, Raleigh and Roanoke, Virginia.

“Pinnacle has focused on those high-growth metro areas in the Southeast,” Lewis said.

The firm has 31 employees scattered throughout its footprint, including its headquarters office in High Point on the top floor of 300 N. Main St.

When renovations are complete, it will occupy the office space that was previously the longtime home of two law firms — Keziah Gates (which moved to 201 Neal Place) and Roberson, Haworth & Reese (now on the third floor of the same building).

HPB Insurance Group moved from 801 N. Elm St., which is now offices for Pinnacle’s local executive leadership.

With annual revenue of about $6 million, about 40% of its business is commercial insurance (property, liability, workers compensation) and about 30% is personal insurance (home, auto and life).

Lewis said the remaining 30% is managing employee health insurance and other benefits for primarily mid-sized companies.

This has been a growth area, while other industry challenges persist, like the impact of catastrophic weather events on insurance coverage.

“Everybody’s pain point now is rising premiums,” he said. “Every insurance agency is experiencing this, where customers are getting rate increases on their home and auto.”

Homeowners and auto rates in North Carolina are increasing by an average of 7.5% and 5%, respectively, over the next two years.

Lewis said these decisions are made by the carriers and are a product of negotiations by the N.C. Department of Insurance and Rate Bureau.

“We have no say in it,” he said.

This month’s anniversary celebration will include another recognition for HPB Insurance — being named a best practices agency by the Independent Insurance Agents & Brokers of America and Reagan Consulting, a top industry honor.

“We’re honored to be recognized once again with this prestigious designation,” said Lewis. “It’s a direct reflection of our team’s dedication to our clients and our commitment to fostering a culture of innovation, service and trust. We’re proud to set a standard of excellence in the industry while continuing to grow alongside the communities we serve.”

© 2025 The High Point Enterprise (High Point, N.C.). Visit www.hpenews.com. Distributed by Tribune Content Agency, LLC.