Higginbotham has purchased a stake in the insurance operations of Hilb Group of Texas in San Antonio.
The transaction adds eight insurance and customer service professionals with a book of commercial and personal property/casualty insurance and employee benefit accounts to Higginbotham's existing 24-person office in San Antonio.
The group's colleagues have worked together since 2011 when the insurance agency that brought them together was established. That agency was acquired by the Hilb Group in 2015.
Higginbotham is headquartered in Fort Worth, Texas, and ranked by revenue as the largest Texas-based independent insurance broker. It entered San Antonio in 2014 and has expanded into 22 other Texas and Oklahoma markets through a growth initiative whereby the firm acquires groups that demonstrate a common vision and increase its footprint, service capacity and product depth.
"Higginbotham's growth model works to the advantage of clients," said Drew Apperson, managing director for Higginbotham in San Antonio. "Partners that join Higginbotham can offer the clients they bring a single source solution for insurance because of the additional resources that become available to them. On our part, adding partners further strengthens our solution because they supplement our expertise and ability to serve more clients, fueling our growth."
The group will merge with Higginbotham's residing office at 1826 North Loop 1604 W in June 2017. The accounts acquired by Higginbotham will continue being serviced by the group under Apperson's leadership.