Revenue $132 million (2015) Headquarters Fort Worth Founded 1948 | Website www.higginbotham.net Number of employees 800 (2016) Type of business Private | |
Industry Insurance broker and service provider Subsidiaries Cbg Group, AmeriCap Insurance Group LLC | ||
Higginbotham is an independent insurance brokerage firm founded in 1948 that provides businesses and individuals with insurance, risk management and employee benefit services.
Contents
- History
- Products and services
- Locations
- Mergers and acquisitions
- Community involvement
- Honors and awards
- References
In addition to its headquarters in Fort Worth, Texas, Higginbotham operates more than 20 offices across the state with approximately 800 employees. The firm ranks as the nation’s 31st largest independent insurance brokerage firm based on 2015 revenue.
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.
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 statewide growth strategy, merging with likeminded independent agencies that support its business model. Through mergers, Higginbotham has expanded its footprint to more than 20 offices spanning Texas.
Of the 100 largest brokers of U.S. business, Higginbotham is the largest based in Texas by revenue.
Products and services
Locations
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. The fund is financed by employee donations and pledges with a corporate matching component. As of August, 31 2016, the fund has raised $1,038,613 through employee donations and pledges and granted $764,946.