Higginbotham & Associates Inc. and Capital Benefits Group Inc. have merged operations in a move that creates one of the larger independent insurance and employee benefits firms in central Texas.
The deal brings Higginbotham's headcount to 543 employees in 19 offices throughout Texas. The company, headquartered in Fort Worth, has been actively expanding through partnerships and mergers.
Higginbotham provides property/casualty insurance and employee benefits services, while Capital Benefits offers employee benefit consulting. Together they will employ 75 insurance and administrative professionals in Austin.
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"Every firm that joins our group brings more diverse experience and extra brainpower to develop innovative solutions for clients," said Higginbotham President/CEO Rusty Reid in a news release. "The combined strength of our group not only makes Higginbotham the largest insurance firm in Austin, but it has the potential of catapulting us to the top for all of Texas."
Capital Benefits Group offers employee benefits consulting — including health plans and human resource functions — to more than 400 small and mid-market employers in Central Texas. Company founders Troy Ahrens and Brian Penny believe their client base will immediately see benefits from the merger as Higginbotham widens its scope of offerings. Higginbotham provides insurance, risk management and financial services through more than 250 regional and national carriers.
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