Higginbotham buys Mississippi broker

Commercial brokerage Higginbotham said Friday it has acquired Insurance & Risk Managers, a Brookhaven, Mississippi-based brokerage.

Terms of the transaction were not disclosed.

IRM also has offices in McComb, Hazlehurst and Winona, Mississippi, and has about 30 employees, according to its website.

Higginbotham said in a statement that the deal gives it a presence in 13 states.

Higginbotham Chairman and CEO Rusty Reid said in the statement that the broker is on a growth path, focusing on the lower half of the United States.

Fort Worth, Texas-based Higginbotham is the 20th largest broker of U.S business, according to the most recent Business Insurance rankings.