Higginbotham, the 21st largest independent insurance firm in the U.S., and McMahon & Hadder Insurance, an independent insurance broker in Pensacola, Florida, have merged operations, Higginbotham said in a news release.
Higginbotham has more than 45 offices in five states providing commercial and personal property/casualty insurance and employee benefits as well as risk management, benefit and HR services.
The partnership with McMahon & Hadder adds 25 professionals in these practice areas and a new state to Higginbotham’s expanding presence across the southeast region of the U.S.
Higginbotham, based in Fort Worth, said in the news release that it is executing a growth strategy whereby it partners with independent insurance brokers that add scale to its operation.
The addition of McMahon & Hadder brings more than 5,000 clients that will give Higginbotham a solid foundation for growth in Florida. For McMahon & Hadder, the partnership gives it the capacity to offer added risk management and employee benefits services through Higginbotham’s resources.
“McMahon & Hadder has a parallel business philosophy where they hold themselves accountable to their clients,” said Higginbotham Chairman and CEO Rusty Reid. “They’re proactive in developing services to fit their clients’ needs, and that’s how we’ve built our single source solution over time by filling gaps in product selection and client service. McMahon & Hadder is a perfect representation of Higginbotham in Florida.”
McMahon & Hadder President Donald McMahon said, “It was Higginbotham’s people and their culture that sealed the deal for me. When I think of who I want to have as a partner, there’s none better, not just for the growth of our business, but also for nurturing our employees and supporting our community.”
Higginbotham named Donald McMahon and John McMahon managing directors, and they will continue co-leading the Florida operations as McMahon & Hadder Insurance, A Higginbotham Company.