National insurance firm Higginbotham has announced the acquisition of Insurance & Risk Managers (IRM), an independent commercial and personal property-casualty insurance broker based in Brookhaven, Miss., with three additional offices across the state.
The deal marks Higginbotham’s entrance into Mississippi, expanding its footprint to 13 states. It also allows IRM to expand its services to include employee benefits, life insurance, retirement plan services, HR outsourcing and consultation, and additional risk management capabilities.
“We’re on a growth path, focusing on the lower half of the United States,” said Rusty Reid, chairman and CEO of Higginbotham. “Entering Mississippi connects that path with the surrounding states where we have a presence. But it’s about more than expanding our footprint – it’s about linking our people. Our partners draw on Higginbotham’s collective teams to provide their clients with an all-encompassing solution that’s still local.”
“I already know many of the partners that we’ll be teaming with because they referred me to Higginbotham in the first place and sang their praises of the collaboration and family culture that benefit both clients and employees,” said Josh Smith, president of IRM. “We’re excited about the opportunities to serve clients with more well-rounded services and our people with Higginbotham’s employee ownership structure.”
Smith has been named a Higginbotham managing partner as part of the deal. He will continue to oversee IRM’s 30-person team in the firm’s Brookhaven and satellite offices.