The new partnership expands Madison Benefit’s current service offerings by adding personal and commercial property and casualty coverage lines and risk management services, according to a press release.
“This partnership with Higginbotham & Associates further increases our ability to add capacity for our clients,” said Beth Madison, president and founder of Madison Benefits, in the release. “It solidifies Madison’s position in the marketplace as the ‘go-to-firm’ for Texas employers.”
The release said the alliance forms one of the largest independent brokerage firms in Texas, with a combined staff of more than 310 employees and 11 statewide offices. Under the terms of the agreement, the company will continue doing business under the name Madison Benefits Group. Also as part of the deal, senior management from Madison Benefits will become principal shareholders in the newly formed entity and, “current staff will play a vital role in the company’s continued growth,’ the release said.
Founded in 1989, Madison Benefits Group is a Houston-based employee benefits brokerage and consulting firm specializing in corporate employee benefits and retirement programs. Higginbotham & Associates, headquartered in Fort Worth, Texas, for 60 years, provides businesses and individuals a single source solution for comprehensive financial and insurance services.
The release said Higginbotham is “aggressively expanding its operations throughout Texas by joining forces with insurance firms that have strong footholds in their local markets.’ Madison Benefits Group is the second partnership that Higginbotham has launched this year.