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Higginbotham Insurance Group Inc. has acquired Amerman Insurance Services, an independent broker in San Antonio, Texas, Higginbotham said in a statement Wednesday.
Terms of the deal were not disclosed. It closed April 30, according to an email from a Higginbotham spokeswoman.
The deal adds eight commercial and personal property/casualty insurance and employee benefits professionals to Higginbotham's existing local practice for a combined 38-person group, the statement said.
Amerman will operate as Amerman Insurance Services, a Higginbotham company, until the San Antonio operations are consolidated into the same office space, which is anticipated late this year, the spokeswoman said. After the consolidation, the business will operate under the Higginbotham brand name.
Matt Amerman, president of Amerman Insurance, was named a Higginbotham managing director, and will continue leading his namesake agency and existing staff, the statement said.
Higginbotham, headquartered in Fort Worth, Texas, has more than 40 offices statewide and in Oklahoma, Georgia and California, and it serves domestic and international customers. It is the 24th largest broker in the U.S ranked by 2018 brokerage revenue generated by U.S clients in the most recent Business Insurance rankings, with 2018 revenue of $200 million.