Higginbotham Continues Growth Spurt with Tennessee’s Thompson & Smith
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.
- Broad AI Exclusions in Insurance Policies Could Create Uncertainty, Marsh CEO Says
- PVC Pipes Swept Away by Helene Still Dominate Cleanup of NC River
- Travelers Reports Solid Underwriting, Record Investment Income for Q3
- KCC Says Isaias Insured Losses to Be $3 Billion; AM Best Calls Storm an Earnings Event