FORT WORTH, Texas, Jan. 7, 2021 /PRNewswire/ -- Higginbotham, one of the largest independent insurance firms in the U.S., and Lipscomb & Pitts Insurance, the largest independent insurance firm in Tennessee, have combined operations. Both firms provide full-scale commercial and personal insurance, employee benefits, human resources, retirement plans, life and executive compensation services.
Higginbotham is strategically growing by partnering with independent insurance firms that complement its service model and add scale to its operation, which now spans seven states. With 134 employees in Memphis, Nashville, and Chattanooga, TN; Jonesboro, AR; and Hattiesburg, MS; Lipscomb & Pitts Insurance is among the largest independent brokers in the Southeast and has the leadership and capabilities in place to grow the firm even further.
Lipscomb & Pitts Insurance Co-CEOs Mat Lipscomb III and Johnny Pitts are second-generation majority owners of the firm. Their fathers became business partners in 1954 after working together at Liberty Mutual, and Mat and Johnny, friends since childhood, assumed leadership in 1990. For Lipscomb & Pitts Insurance, Higginbotham's partnership allows it to bring even more horsepower to its clients, employees and community.
In a joint statement, Mr. Lipscomb and Mr. Pitts said, "We were looking to expand our business even more when the opportunity to join Higginbotham presented itself. When we considered the additional resources we'd have through Higginbotham to serve our clients, support our employees and local communities, and add long-term stability to our firm, it was clear that this was the right match."
Higginbotham Chairman and CEO Rusty Reid said, "We started growing through establishing partnerships with highly compatible firms in 2008, and Lipscomb & Pitts is the largest of our 60 partners. We're excited about the opportunity to accelerate our presence in the Southeast with such a strong firm, and one that has similar values with family, community, and customer service at its core."
Higginbotham named Mr. Lipscomb and Mr. Pitts Managing Partners, and they will continue leading their existing offices as Lipscomb & Pitts Insurance, while forging growth opportunities in the Southeast region with Higginbotham.
About Lipscomb & Pitts Insurance
Headquartered in Memphis, TN, Lipscomb & Pitts Insurance is the largest privately-held insurance agency in Tennessee, offering a comprehensive suite of commercial and personal insurance and employee benefit solutions to protect businesses and individuals. It was established in 1954 and operates offices in Memphis, Nashville, and Chattanooga, TN; Jonesboro, AR; and Hattiesburg, MS. Visit www.lpinsurance.com for more information.
Higginbotham is a single source for insurance and financial services that brokers business and personal insurance, employee benefits, retirement plans, executive benefits and life insurance. It supplements coverage with in-house risk management, benefit plan administration and human resources services. The firm was founded in 1948 and is headquartered in Fort Worth, Texas, with more than 45 offices in seven states serving domestic and international customers. Higginbotham ranks by revenue as the nation's 21st largest independent insurance brokerage firm, making it the largest Texas-based broker (Business Insurance, July 2020). Visit www.higginbotham.net for more information.