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 around 20 employees, operates in business and personal insurance and employee benefits. Tom Cress, president of the firm, will serve as 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 Insurance provides professional liability, property/casualty, cyber liability, employment liability and management liability to architects, engineers and CPAs, Higginbotham said in a statement.
Higginbotham is the 21st largest brokerage firm of US companies, according to Business insurances latest ranking.