Higginbotham, the large U.S. insurance brokerage, has added another arrow to its quiver with the acquisition of Thompson & Smith Insurance, an independent agency in Jackson, Tennessee.
T&S, offering commercial and personal lines, was founded in 1998 with the merger of two agencies in western Tennessee. Chuck Thompson is CEO.
The news release from Higginbotham did not disclose the terms of the deal. Higginbotham, which said it is the nation’s 21st largest brokerage, is based in Fort Worth, Texas. It was founded in 1948 and has continued a steady pace of expansion, with the acquisition of at least three other agencies so far this year.
Nationally, insurance agency mergers and acquisitions dropped in 2023 by about 24% from the previous year, with 782 reported, according to a report by OPTIS Partners.
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