Higginbotham has bought Albuquerque, New Mexico-based Cress Insurance Consultants Inc. and its affiliate Professional Liability Insurers Inc., the brokerage announced Thursday.
Cress, which has about 20 staff, places commercial and personal lines property/casualty insurance and employee benefits business. Tom Cress, president of the agency, will be a managing director of Fort Worth, Texas-based Higginbotham.
In a separate deal, Higginbotham bought Professional Liability Insurers, which is also majority-owned by Mr. Cress. Professional Liability Insurers provides professional liability, property/casualty, cyber liability, employment practices liability and management liability coverage to architects, engineers and certified public accountants, a Higginbotham statement said.
Higginbotham is the 21st-largest brokerage of U.S. business, according to Business Insurance’s most recent ranking.
