Higginbotham recently announced its affiliation with Alabama's WRM Group, LLC, a consortium consisting of longstanding independent agencies with strong connections to the state and surrounding areas.
Celebrating its 75th anniversary, Higginbotham's growth strategy has been centered around partnering with firms that have established reputations in their local markets and share similar cultural values.
The transaction was facilitated by Reagan Securities, Inc., which acted as the exclusive financial advisor to the WRM Group.
Rusty Reid, Higginbotham's chairman and CEO, expressed enthusiasm about the new relationship with the WRM Group.
“The group was established last year, but the agencies that partnered to create it — Pritchett-Moore Insurance, Byars|Wright, Inc., and Flowers Insurance — were founded in 1934, 1946 and 1953, respectively. Each of these agencies has a long history of success and service in their community. Together, they share a culture that aligns perfectly with our own,” Reid said.
Haig Wright II, CEO of Birmingham-based Byars|Wright, Inc., and a member of the WRM Group, described the formation of the WRM Group as a testament to the benefits of pooling resources while preserving community ties and individual agency identities.
“At WRM Group, we believe in relationships — with our employees, with our clients and with our neighbors,” Wright said. “The letters in our name literally stand for ‘Where Relationships Matter.’ Maintaining those close-knit relationships is just as important to us as building our bench strength and accessing new services. With Higginbotham, we get to do both.”
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