South Texas insurance firm merges with Higginbotham

Higginbotham, a Fort Worth-based independent insurance broker and financial services firm, and Joe N. Pratt Insurance of Victoria, Texas, announced on March 4 merger of their operations.

Higginbotham is ranked as one of the largest independent insurance brokers of U.S. business, providing property, casualty, life, health and welfare insurance as well as risk management and employee benefit services to businesses and individuals. Joe N. Pratt Insurance, a nine-person independent broker, now carries Higginbotham’s full line-up.

“What we’ve done at Higginbotham is partner with brokerage firms located across Texas that add to our collective knowledge and resources so that we have all-inclusive insurance service capabilities, or what we call our ‘single source’ solution,” said Higginbotham president and CEO Rusty Reid. “Joe N. Pratt Insurance customers get the advantage of our size without leaving the local agency they trust.”

Higginbotham launched a statewide growth strategy in 2008 by teaming with brokers that progress its single source service model and add geographic scale to its footprint. The firm entered Victoria in 2010 when it partnered with an existing local practice. Higginbotham’s union with Joe N. Pratt Insurance brings its workforce to 750 employees in 24 offices, including nearby Corpus Christi and Portland.

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In a combined statement, Joe N. Pratt Insurance principals Ronnie Morris and Jeff Pratt said, “The additional products, services and manpower that we can bring to the table as part of Higginbotham let us strengthen our relationships with customers in Victoria while taking on more large, sophisticated accounts. We’re still the people sitting at that table, but the table is much bigger now.”

Joe N. Pratt Insurance will continue operating under its current name at 1501 E. Mockingbird Lane with leadership by Pratt and Morris, who were named vice presidents at Higginbotham.

Joe N. Pratt Insurance dates back to 1922, operating as Pool Insurance and Real Estate, Pool and Hooper and Associated Insurance Agencies for periods of time. Known as Joe N. Pratt Insurance since 1981, the firm brokers all lines of coverage and has concentration in oil and gas, environmental, remediation, construction and attorneys professional liability risks.

Higginbotham was founded in 1948 and ranks as the nation’s 32nd largest independent insurance brokerage firm based on revenue, according to Business Insurance, July 2013.

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