Lyon Fry Cadden Insurance, one of the oldest property and casualty brokers in Alabama, is now part of Higginbotham, one of the largest U.S. brokers and human resources and benefits firms.
Higginbotham said in a press release that the acquisition marks the firm’s first move into Alabama. The broker now has offices in most Southern states.
Gaylord Lyon Jr., president of Lyon Fry Cadden, will stay on as managing director of the 30-person operation in Mobile, Alabama. The agency began in 1905 and mostly serves middle-market businesses in a range of industries, with commercial insurnce, personal lines and surety bonds, according to the news release.
The employee-owned Higginbotham was established in 1948 and has been ranked as the 20th largest independent insurance firm.
Topics Mergers & Acquisitions Alabama
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