Houston-based employee benefits brokerage and consulting firm Madison Benefits Group plans to join forces with national insurance brokerage firm Higginbotham & Associates, headquartered in North Texas.
The new partnership expands Madison Benefit's current service offerings by adding personal and commercial property and casualty coverage lines and risk management services to its already extensive portfolio, the company said.
According to the Madison Benefits Group announcement, the alliance forms one of the largest independent brokerage firms in Texas, with a combined staff of more than 310 employees and 11 statewide offices. Under the terms of the agreement, the company will continue doing business under the name "Madison Benefits Group."
As part of the deal, senior management from Madison Benefits will become principal shareholders in the newly formed entity and current staff will play a vital role in the company's continued growth.
Founded in 1989, Madison Benefits Group specializes in corporate employee benefits and retirement programs. Higginbotham & Associates, headquartered in Fort Worth for 60 years, provides businesses and individuals a single source solution for comprehensive financial and insurance services.
Source: Madison Benefits Group
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