METAIRIE, La. — Metairie-based Eagan Insurance Agency has been acquired by Higginbotham, an independent insurance, financial and HR services firm headquartered in Fort Worth, Texas.
The financial terms of the deal have not been disclosed.
Established in 1954, Eagan is one of the oldest, locally owned, independent insurance agencies in the New Orleans area. It has more than 90 employees spread across a commercial property and casualty department, a personal lines division and an employee benefits group.
The transaction reflects consolidation in the insurance industry nationwide and it leaves New Orleans with only a handful of locally owned operations, including Hartwig Moss Insurance Agency and Stone Insurance.
“This decision comes at a time when the insurance market is rapidly changing and our clients will be better served by the expanded resources available as a result of our partnership with Higginbotham,” wrote an Eagan spokesperson in an April 15 email. “You’ll have access to a wider range of coverage options and services all conveniently available through your existing relationship with Eagan Insurance.”
Higginbotham claims the title of the largest independent insurance, financial and HR services firm in its home state. Led by Chairman and CEO Rusty Reid, the company celebrated its 75th anniversary in 2023. Established in 1948, it is officially an employee-owned operation that has been on a buying spree. The media page on its website features recent press releases announcing more than a dozen acquisitions.
The company says it ranks by revenue as the nation’s 21st largest independent insurance firm, and it has locations coast-to-coast.
The news comes a few weeks after Latter & Blum was acquired by Compass, a New York City-based real estate brokerage. That’s two iconic New Orleans businesses that have been purchased by out-of-state companies in a short span of time.
“While many exciting changes are underway, a lot is staying the same, like the exceptional people and local service you expect of us,” said the Eagan spokesperson. “We’ll continue to operate as Eagan Insurance at our current locations, and your service team and broker will remain the same.”
