Adobe Stock
Fort Worth-based Higginbotham, one of the nation's largest independent insurance, financial and HR services firms, on Thursday announced that it had joined forces with Cress Insurance Group in Albuquerque, New Mexico.
Cress Insurance Group is an independent commercial and personal property/casualty insurance and employee benefits agency locally owned since 1984. Higginbotham and Cress Insurance Group will come together to enhance service to the group's 2,500 clients and serve a broader customer base in New Mexico.
“When we look at New Mexico, we see a diverse market,” Higginbotham Chairman and CEO Rusty Reid said in a statement. “With our size, we have the broad experience and resources to become a strong presence there by delivering our value proposition through a partner established in the community like Cress Insurance Group.”
Cress Insurance Group is the second agency in New Mexico to join Higginbotham, which entered the state in 2020 through a partnership in Las Cruses.
The merger is strategic for Higginbotham, which has been expanding its footprint and increasing its service capability by selectively partnering with other independent agencies that have strong reputations in their local markets, a desiring to keep growing by tapping into its single source solution and a strong cultural match.
“It was critically important that we protect our staff and the customers we serve,” said Cress President Tom Cress, who will continue leading the agency as managing director. “Our success is a direct result of the trusting relationships we've established. It didn't take us long to see how the Higginbotham culture and leadership team aligned with the guiding principles of our agency. We could not be more delighted."
Cress Insurance Group provides insurance broker services to businesses of all sizes and sectors reflected in its community. In addition, two of the agency's professionals have served on the Independent Insurance Agents of New Mexico board.
"Our local team will continue serving New Mexico with the added power of one of the largest employee-owned insurance firms in the country," Cress said.