Higginbotham Insurance & Financial Services

Last updated
Higginbotham
Company type Private
Industry Insurance broker and service provider
Founded1948
Headquarters Fort Worth, Texas
United States
Number of locations
87 offices in 16 states (2023)
Area served
Alabama, Arkansas, Arizona, California, Colorado, Florida, Georgia, Kentucky, Louisiana, Mississippi, Missouri, New Mexico, Ohio, Oklahoma, Tennessee, Texas
Key people
President/CEO Rusty Reid
ServicesInsurance, Financial and HR Services
Revenue$450 million (2022)
Number of employees
2,700 (2023)
Website www.higginbotham.com

Higginbotham is an independent insurance brokerage firm founded in 1948 that provides businesses and individuals with insurance, financial services, risk management and employee benefit services. [1]

Contents

In addition to its headquarters in Fort Worth, Texas, Higginbotham operates in more than 87 offices in 16 states across the U.S. with approximately 2,700 employees. Higginbotham is ranked in the top 20 largest independent insurance brokerages in the U.S and is the largest based in Texas by revenue. [2]

History

Paul C. Higginbotham founded his namesake agency in 1948 after returning from military service in World War II. It started as a small personal insurance brokerage firm in Paul’s Riverside neighborhood of Fort Worth, Texas.

Paul’s nephew, Bill Stroud, purchased the agency in 1962 from his aunt who inherited it when Paul died. Between 1968 and 1983, the firm moved four times to more central locations in Fort Worth to attract an increasingly diverse clientele.

In 1986, Bill hired Rusty Reid from American General Fire and Casualty Company to broker commercial insurance at Higginbotham. Three years later, Rusty became president and CEO at age 27. He implemented an employee ownership model to engage and reward employees in the company’s growth and established the firm’s Financial Services division to begin offering employee benefits. [3]

Higginbotham’s first geographic expansion occurred in 1998 with the opening of a second office in Dallas and was followed by several others in North and Central Texas. Then in 2007, the firm initiated an aggressive growth strategy, merging with like minded independent agencies that support its business model. As of 2023, Higginbotham has expanded its footprint to more than 87 offices spanning the U.S. [4]

Bailey Ave. Building in Fort Worth, TX Higginbotham Bailey Building.jpg
Bailey Ave. Building in Fort Worth, TX
Race St. Building in Fort Worth, TX Race Building.jpg
Race St. Building in Fort Worth, TX

Products and services

Locations

Alabama

Arkansas

Arizona

California

Colorado

Florida

Georgia

Kentucky

Louisiana

Mississippi

Missouri

New Mexico

Ohio

Oklahoma

Tennessee

Texas

Mergers and acquisitions

Community involvement

The Higginbotham Community Fund is a donor advised fund that was created in 2010 in partnership with the North Texas Community Foundation. Grants are distributed to nonprofits throughout Texas that are recommended by employees and selected by a Higginbotham advisory committee. [6] The fund is financed by employee donations and pledges with a corporate matching component. As of 2023, the fund has raised $5,697,070 through employee and company contributions and given 1,839 grants totaling $4,508,877.

Honors and awards

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References

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  2. 1 2 100 Largest Brokers of U.S. Business
  3. 1 2 "Rough Notes Benefits Report". Rough Notes. April 2011.
  4. Higginbotham. "Fort Worth-based Higginbotham Celebrates 75 Years". www.prnewswire.com (Press release). Retrieved 2023-04-26.
  5. "Locations Archive". Higginbotham. Retrieved 2023-04-26.
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