Frost Insurance, a provider of property and casualty insurance, has agreed to acquire Stone Partners, a human resource consulting firm.
US-based Stone Partners, founded in 2000, provides consulting services to employers and plan participants.
Stone Partners offers actuarial services, benefit administration, communications, compensation, managed payroll administration, health and welfare, human resources management and retirement services and has 25 employees and offices in Houston, Dallas and Austin.
Effective 1 January 2012, Stone Partners will operate as a division of Frost Insurance.
Dick Evans, chairman and CEO of Cullen/Frost Bankers, parent company of Frost, said that Stone Partners will introduce new core services to their customers that will allow them to add value to existing business relationships and expand to new business opportunities.